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Mr. Jeffrey M. Davis, Mr. Thomas J Richardson, Mr. Rolando Ossowski, and Mr. Steven A Barnett

Abstract

Privatization has been a key element of structural reform in many developing and transition economies during the last decade. This paper examines the fiscal and macroeconomic issues involved in the privatization of nonfinancial public enterprises in these economies. It considers issues such as the factors determining the proceeds from privatization and the amount accruing to the budget, the uses of proceeds, the impact of privatization on the budget and macroeconomic aggregates, and the privatization component of IMF-supported programs. The empirical evidence draws on case study countries that reflect geographical diversity and are representative of a range of privatization experience in developing and transition economies.

Mr. Reint Gropp, Mr. Liam P. Ebrill, and Ms. Janet Gale Stotsky

Abstract

The apparent contradiction between trade liberalization and continuing high trade tax revenue raises the important question of how, precisely, the one affects the other. Although policymakers generally recognize the long-term benefits of trade liberalization, some have argued for at least a slower pace, in part because of revenue concerns. This paper seeks to address these issues in three complimentary ways: through an overview of the factors that may have a bearing on the question, through a review of trends in trade tax revenue both globally and in selected countries, and through econometric analysis.

Mr. Dominique Desruelle, Mr. Robert A Feldman, Mr. Klaus-Stefan Enders, Mr. Karim A. Nashashibi, Mr. Peter Allum, Heliodoro Temprano-Arroyo, Mr. Roger Nord, and Mr. Robert Brandon Kahn

Abstract

In the Summer of 1998, the Executive Board discussed a set of three papers prepared by the staff that focused on the likey impact of EMU on selected non-EU countries. In recognition of the contribution these papers could make to the literature and discussion of EMU, the Board requested that this collection of papers be published. This Occasional Paper presents the three papers in one volume Chapter 1 provides an analysis of the likely impact of EMU on three regions: Central and Eastern Europe, the Mediterranean Basin, and the African CFA zone. Chapter 2 focuses on the trade and financial effects of EMU on selected transition and Mediterranean countries. And Chapter 3 considers the possible implications of EMU for the Middle East and North Africa region.

Mr. George A Mackenzie, Mr. Philip R. Gerson, and Mr. David William Harold Orsmond

Abstract

This study examines the composition of fiscal adjustment - tax and expenditure policies and administrative procedures, and some aspects of public enterprise reform - in a sample of eight countries (Bangladesh, Chile, Ghana, India, Mexico, Morocco, Senegal, and Thailand) during a period of fiscal reform (usually 1978-93), to determine whether and to what extent the fiscal reforms fostered growth during the adjustment period.

Ms. Sena Eken, Mr. Jörg Decressin, Mr. Filippo Cartiglia, Mr. Klaus-Stefan Enders, Mr. Saleh M. Nsouli, and Mr. Van Can Thai

Abstract

This paper reviews and analyzes how Morocco overcame the economic and financial crisis it confronted at the beginning of the 1980s. It highlights the challenges that still confront the Moroccan economy and the lessons that can be drawn from Morocco's adjustment experience.

Mr. P. van den Boogaerde

Abstract

Arab financial assistance to developing - particularly Arab - countries rose sharply between 1973 and 1980 but fell gradually through the 1980s, owing mainly to weakening oil prices. As a percent of GNP, however, Arab contributions remain the largest among major donors. This paper surveys the volume and distribution of Arab financing from 1973 to 1989.

Mr. Saleh M. Nsouli and Justin B. Zulu

Abstract

This paper reviews recent experience of African countries in the design and implementation of adjustment programs supported by use of Fund resources.