Author: Mr.Sanjeev Gupta Publisher: International Monetary Fund ISBN: 148438931X Category : Business & Economics Languages : en Pages : 31
Book Description
This paper studies the impact of expenditure conditionality in IMF programs on the composition of public spending. A granular dataset on different government expenditure conditions covering 115 countries for the 1992-2016 period is compiled. The results support the view that while conditionality on specific elements of spending could help achieve a program’s short-term objectives, it is structural conditionality which delivers lasting benefits. Structural public financial management conditionality (such as on budget execution and control) has proven to be effective in boosting the long-term level of education, health, and public investment expenditures. The results further indicate that conditionality on raising such spending may come at the expense of other expenditures. Finally, the successful implementation (and not mere existence) of the conditionality is crucial for improved outcomes. These findings are relevant for policy makers targeting achievement of the Sustainable Development Goals (SDGs).
Author: Mr.Sanjeev Gupta Publisher: International Monetary Fund ISBN: 1484389077 Category : Business & Economics Languages : en Pages : 31
Book Description
This paper studies the impact of expenditure conditionality in IMF programs on the composition of public spending. A granular dataset on different government expenditure conditions covering 115 countries for the 1992-2016 period is compiled. The results support the view that while conditionality on specific elements of spending could help achieve a program’s short-term objectives, it is structural conditionality which delivers lasting benefits. Structural public financial management conditionality (such as on budget execution and control) has proven to be effective in boosting the long-term level of education, health, and public investment expenditures. The results further indicate that conditionality on raising such spending may come at the expense of other expenditures. Finally, the successful implementation (and not mere existence) of the conditionality is crucial for improved outcomes. These findings are relevant for policy makers targeting achievement of the Sustainable Development Goals (SDGs).
Author: Soojin Moon Publisher: International Monetary Fund ISBN: 1451845715 Category : Business & Economics Languages : en Pages : 46
Book Description
This paper investigates fiscal developments in 112 countries during the 1990s. It finds that, while the overall fiscal balance improved in most of them, the composition of this improvement differed. In nonprogram countries, revenues increased modestly and expenditure declined sharply, while in program countries both revenue and expenditure declined. However, in countries with programs that included structural conditions the adjustment was effected primarily through sharp expenditure compression. We did not find evidence of a statistically significant impact of IMF conditionality. Morever, fiscal improvements are strongly influenced by cyclical factors
Author: International Monetary Fund. Independent Evaluation Office Publisher: International Monetary Fund ISBN: 1589067029 Category : Business & Economics Languages : en Pages : 52
Book Description
This evaluation examines factors influencing the effectiveness of the IMF structural conditionality in bringing about structural reform. It assesses the impact of the streamlining initiative launched in 2000 and of the 2002 Conditionality Guidelines. These guidelines aimed at reducing the volume and scope of structural conditionality by requiring “parsimony” in the use of conditions and stipulated that conditions must be “critical” to the achievement of the program goals. The evaluation finds that during the period 1995–2004, there was extensive use of structural conditionality in IMF-supported programs, with an average of 17 conditions per program/year.
Author: International Monetary Fund. Independent Evaluation Office Publisher: International Monetary Fund ISBN: 1589062744 Category : Business & Economics Languages : en Pages : 128
Book Description
Using a cross-country sample of 169 IMF-supported programs and detailed studies of 15 programs, this evaluation report examines various aspects of fiscal adjustment in IMF-supported programs. It presents evidence that does not support some critics’ view that IMF-supported programs typically adopt a one-size-fits-all approach to fiscal adjustment, nor the perception that programs always involve austerity by targeting reductions in public spending. The report also proposes a number of recommendations for IMF surveillance and program design in the future.
Author: Mr.Masahiro Nozaki Publisher: International Monetary Fund ISBN: 1463935145 Category : Business & Economics Languages : en Pages : 20
Book Description
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.
Author: Mr. Jochen R. Andritzky Publisher: International Monetary Fund ISBN: 1513572695 Category : Business & Economics Languages : en Pages : 56
Book Description
Structural conditionality of IMF-supported programs is designed to support structural reforms by countries borrowing from the IMF. Taking stock of program conditions and their implementation, this paper finds that conditionality focuses on fiscal, monetary and financial issues—areas where IMF expertise is strong—and shies away from structural areas such as labor or product market reforms. Hence, tackling deep-rooted structural issues during IMF-supported programs often remained elusive. To ensure countries gain most from IMF conditionality, the paper outlines an evaluation matrix for prioritizing and designing structural reforms, and applies it to case studies.
Author: International Monetary Fund. Fiscal Affairs Dept. Publisher: International Monetary Fund ISBN: 1498318924 Category : Business & Economics Languages : en Pages : 76
Book Description
This paper uses case studies to explore the nature and extent of past IMF engagement on social spending issues and to draw lessons for future engagement.
Author: Mr.Sanjeev Gupta
Author: Mr.Sanjeev Gupta
Author: Soojin Moon
Author: International Monetary Fund. Independent Evaluation Office
Author: International Monetary Fund. Independent Evaluation Office
Author: Mr.Masahiro Nozaki
Author: Mr. Jochen R. Andritzky
Author: Anna Ivanova
Author: James M. Boughton
Author: International Monetary Fund. Fiscal Affairs Dept.