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Author: Mr.Andrew M. Warner Publisher: International Monetary Fund ISBN: 1616359374 Category : Business & Economics Languages : en Pages : 22
Book Description
Welfare economics, scope and performance of government, externalities, public goods, cost-benefit analysis, subsidies economize on spending without losing effectiveness by modifying the conceptual framework guiding state expenditures. The familiar framework says that state intervention is justified when the spending provides public goods or when the intervention addresses externalities, provided the social return is above a threshold. This paper argues that another consideration needs to be brought into the mix - whether, in spite of the externalities, the private sector has an incentive to undertake the activity. It is argued that these two considerations together define a more efficient framework under which to justify state intervention. According to this modified framework, even a benign state interested in social welfare would not in fact address every externality nor necessarily select expenditures with the highest social returns. These points are summarized in a graph which is then used to analyze policy rules, subsidies and effective interaction between the state and the private sector. It is hoped that this paper points to the kind of information that needs to be collected and acted upon so that states may achieve their goals more effectively.
Author: Mr.Andrew M. Warner Publisher: International Monetary Fund ISBN: 1616359374 Category : Business & Economics Languages : en Pages : 22
Book Description
Welfare economics, scope and performance of government, externalities, public goods, cost-benefit analysis, subsidies economize on spending without losing effectiveness by modifying the conceptual framework guiding state expenditures. The familiar framework says that state intervention is justified when the spending provides public goods or when the intervention addresses externalities, provided the social return is above a threshold. This paper argues that another consideration needs to be brought into the mix - whether, in spite of the externalities, the private sector has an incentive to undertake the activity. It is argued that these two considerations together define a more efficient framework under which to justify state intervention. According to this modified framework, even a benign state interested in social welfare would not in fact address every externality nor necessarily select expenditures with the highest social returns. These points are summarized in a graph which is then used to analyze policy rules, subsidies and effective interaction between the state and the private sector. It is hoped that this paper points to the kind of information that needs to be collected and acted upon so that states may achieve their goals more effectively.
Author: Mr.Abdul Abiad Publisher: International Monetary Fund ISBN: 1484361555 Category : Business & Economics Languages : en Pages : 26
Book Description
This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.
Author: OECD Publisher: OECD Publishing ISBN: 9264251766 Category : Languages : en Pages : 95
Book Description
Public investment, and particularly infrastructure investment, is important for sustainable economic growth and development as well as public service provision. However, it is also vulnerable to capture and corruption.
Author: National Academy of Engineering Publisher: National Academies Press ISBN: 0309046475 Category : Political Science Languages : en Pages : 119
Book Description
It is frequently argued that U.S. corporations have shorter time horizons for planning and investment than their Japanese and German competitors. This argument, though widely accepted in studies of U.S. competitiveness, has rarely been examined in depth. Time Horizons and Technology Investments explores the evidence that some U.S. corporations consistently select projects biased toward short-term return and addresses factors influencing the time-related preferences of U.S. corporate managers in selecting projects for investment. It makes recommendations to policymakers and managers about policies to mitigate negative external influences and about strategies to remove internal biases toward noncompetitive decisions.
Author: Howard W. Buffett Publisher: Columbia University Press ISBN: 0231544456 Category : Business & Economics Languages : en Pages : 592
Book Description
Social Value Investing presents a new way to approach some of society’s most difficult and intractable challenges. Although many of our world’s problems may seem too great and too complex to solve — inequality, climate change, affordable housing, corruption, healthcare, food insecurity — solutions to these challenges do exist, and will be found through new partnerships bringing together leaders from the public, private, and philanthropic sectors. In their new book, Howard W. Buffett and William B. Eimicke present a five-point management framework for developing and measuring the success of such partnerships. Inspired by value investing — one of history’s most successful investment paradigms — this framework provides tools to maximize collaborative efficiency and positive social impact, so that major public programs can deliver innovative, inclusive, and long-lasting solutions. It also offers practical insights for any private sector CEO, public sector administrator, or nonprofit manager hoping to build successful cross-sector collaborations. Social Value Investing tells the compelling stories of cross-sector partnerships from around the world — Central Park and the High Line in New York City, community-led economic development in Afghanistan, and improved public services in cities across Brazil. Drawing on lessons and observations from a broad selections of collaborations, this book combines real life stories with detailed analysis, resulting in a blueprint for effective, sustainable partnerships that serve the public interest. Readers also gain access to original, academic case material and professionally produced video documentaries for every major partnerships profiled — bringing to life the people and stories in a way that few other business or management books have done.
Author: Mr. M. Cangiano Publisher: International Monetary Fund ISBN: 1475512198 Category : Business & Economics Languages : en Pages : 468
Book Description
The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms. Watch Video of Book Launch
Author: Anthony Bonen Publisher: International Monetary Fund ISBN: 1475539711 Category : Business & Economics Languages : en Pages : 46
Book Description
We propose a macroeconomic model to assess optimal public policy decisions in the the face of competing funding demands for climate change action versus traditional welfare-enhancing capital investment. How to properly delineate the costs and benefits of traditional versus adaption-focused development remains an open question. The paper places particular emphasis on the changing level of risk and vulnerabilities faced by developing countries as they allocate investment toward growth strategies, adapting to climate change and emissions mitigation.
Author: Mrs.Sage De Clerck Publisher: International Monetary Fund ISBN: 1498379214 Category : Business & Economics Languages : en Pages : 470
Book Description
The 2007–09 international financial crisis underscored the importance of reliable and timely statistics on the general government and public sectors. Government finance statistics are a basis for fiscal analysis and they play a vital role in developing and monitoring sound fiscal programs and in conducting surveillance of economic policies. The Government Finance Statistics Manual 2014 represents a major step forward in clarifying the standards for compiling and presenting fiscal statistics and strengthens the worldwide effort to improve public sector reporting and transparency.
Author: Meera Shekar Publisher: World Bank Publications ISBN: 1464810117 Category : Business & Economics Languages : en Pages : 243
Book Description
An Investment Framework for Nutrition: Reaching the Global Targets for Stunting, Anemia, Breastfeeding, and Wasting estimates the costs, impacts, and financing scenarios to achieve the World Health Assembly global nutrition targets for stunting, anemia in women, exclusive breastfeeding and the scaling up of the treatment of severe wasting among young children. To reach these four targets, the world needs US$70 billion over 10 years to invest in high-impact nutrition-specific interventions. This investment would have enormous benefits: 65 million cases of stunting and 265 million cases of anemia in women would be prevented in 2025 as compared with the 2015 baseline. In addition, at least 91 million more children would be treated for severe wasting and 105 million additional babies would be exclusively breastfed during the first six months of life over 10 years. Altogether, achieving these targets would avert at least 3.7 million child deaths. Every dollar invested in this package of interventions would yield between US$4 and US$35 in economic returns, making investing in early nutrition one of the best value-for-money development actions. Although some of the targets—especially those for reducing stunting in children and anemia in women—are ambitious and will require concerted efforts in financing, scale-up, and sustained commitment, recent experience from several countries suggests that meeting these targets is feasible. These investments in the critical 1000-day window of early childhood are inalienable and portable and will pay lifelong dividends—not only for children directly affected but also for us all in the form of more robust societies—that will drive future economies.
Author: Mr.J. D. Craig Publisher: International Monetary Fund ISBN: 155775697X Category : Business & Economics Languages : en Pages : 50
Book Description
Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.
Author: Mr.Andrew M. Warner
Author: Mr.Andrew M. Warner
Author: Mr.Abdul Abiad
Author: OECD
Author: National Academy of Engineering
Author: Howard W. Buffett
Author: Mr. M. Cangiano
Author: Anthony Bonen
Author: Mrs.Sage De Clerck
Author: Meera Shekar
Author: Mr.J. D. Craig