eBook PDF Download Digital Library
Author: Ralph Chami
Publisher: Oxford University Press, USA
Published: 2021-01-26
Total Pages: 689
ISBN-13: 0198853092
DOWNLOAD EBOOK →Setting macroeconomic policy is especially difficult in fragile states. Macroeconomic Policy in Fragile States addresses the many issues involved and considers ways to improve the effectiveness of macroeconomic management in the face of these constraints.
Author: Olusegun Ayodele Akanbi
Publisher: International Monetary Fund
Published: 2021-05-06
Total Pages: 48
ISBN-13: 1513573683
DOWNLOAD EBOOK →High persistence of state fragility (a fragility trap) suggests the presence of substantial benefits from avoiding a fall into fragility and considerable hurdles to successful exit from fragility. This paper empirically examines the factors that affect the turning points of entering and exiting from state fragility by employing three different approaches: an event study, the synthetic control method, and a logit model. We find that avoiding economic contraction is critical to prevent a country on the brink of fragility from falling into fragility (e.g., among near fragile countries, the probability of entering fragility would rise by 40 percentage points should real GDP per capita growth decline from +2.5 percent to -2.5 percent). Also, strengthening government effectiveness together with increasing political inclusion and maintaining robust economic activity should help make exit from fragility more successful and sustainable. In the current environment (the COVID-19 crisis and its aftermath), the findings suggest the importance of providing well-directed fiscal stimulus with sufficient financing, (subject to appropriate governance safeguards and well-designed policies), and protecting critical socio-economic spending to keep vulnerable countries away from being caught in a fragility trap.
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2022-03-14
Total Pages: 63
ISBN-13:
DOWNLOAD EBOOK →This paper proposes a comprehensive Strategy to strengthen IMF support to FCS in accordance with the Fund’s mandate and comparative advantage. The Strategy is a response to the Board-endorsed recommendations of the 2018 Independent Evaluation Office (IEO) Report on The IMF and Fragile States. To achieve these goals, the Strategy will benefit from additional resources reflected in the FY23-25 Medium-Term Budget, as per the budget augmentation framework discussed by the Board in December 2021. The Strategy also provides measures to better support staff working on FCS. Given the inherent risks in FCS engagement, the Strategy will be phased in starting in FY22, with implementation gradually accelerating between FY23-FY25.
Author: Ralph Chami
Publisher: Oxford University Press
Published: 2021-01-26
Total Pages: 496
ISBN-13: 0192594540
DOWNLOAD EBOOK →Setting macroeconomic policy is especially difficult in fragile states. Political legitimacy concerns are heightened, raising issues such as who the policymakers are, what incentives they face, and how the process of policymaking is likely to work under limited legitimacy and high uncertainty both about the macroeconomic environment as well as policy effectiveness. In addition, fragility expands the range of policy objectives in ways that may constrain the attainment of standard macroeconomic objectives. Specifically, in the context of fragility policymakers also need to focus on measures to mitigate fragility itself - i.e., they need to address issues such as regional and ethnic economic disparities, youth unemployment, and food price inflation. Socio-political developments around the world have thus pushed policymakers to broaden their toolkit to improve the effectiveness of macroeconomic management in the face of these constraints. The chapters in Macroeconomic Policy in Fragile States address these issues, both by giving an analytical context from which policymakers can build to answer the questions they face in fragile situations as well as by providing lessons drawn from empirical analyses and case studies. The first section of the volume discusses the interactions between political economy considerations and macroeconomic policymaking. The second section covers the private sector environment in fragile states. The third section focuses on macroeconomic policy, especially fiscal policy, monetary policy, exchange rate policy, external flows, and aid effectiveness. The last section explains the role of the IMF in fragile states and concludes by presenting case studies from the Middle East and from Sub-Saharan Africa. The contributors to the volume are economists and political scientists from academia as well as policymakers from international organizations and from countries affected by fragility.
Author: International Monetary Fund. Fiscal Affairs Dept.
Publisher: International Monetary Fund
Published: 2017-06-14
Total Pages: 45
ISBN-13: 1484303733
DOWNLOAD EBOOK →This paper provides background information for the IMF Board paper on “Building Fiscal Capacity in Fragile States (FS).” It presents case studies on IMF technical assistance (TA) and capacity development in the fiscal area, provided by its Fiscal Affairs Department (FAD), in collaboration with the Legal Department, in the following countries: Afghanistan, Haiti, Kosovo, Liberia, Mali, Myanmar, South Sudan, and Timor-Leste.
Author: Mario Mansour
Publisher: International Monetary Fund
Published: 2019-09-20
Total Pages: 29
ISBN-13: 1513508156
DOWNLOAD EBOOK →The purpose of this note is to provide a framework for improving tax policy design in fragile and conflict-affected states, which face political and institutional constraints. This note begins with an overview of experiences in revenue mobilization in fragile states, including relative to other country groups—in particular, nonfragile states and formerly fragile states; that is, countries that exited fragility during the period under study. A discussion follows of how the principles of tax policy design should be applied in fragile states, particularly the relative importance of the revenue objective vis-à-vis other objectives, such as equity and efficiency. The two sections that follow provide guidance on tax policy design in the emergency and consolidation phases, respectively, and discuss how governments can use tax policy to transition from one phase to another, eventually overcoming fragility. The note concludes with key lessons and a set of guiding principles for tax reform in fragile states.
Author: Wim Naudé
Publisher: Oxford University Press
Published: 2011-08-25
Total Pages: 232
ISBN-13: 0199693153
DOWNLOAD EBOOK →Fragile states are often mired in civil conflict. This volume focuses on the relationship between conflict and state stability and illustrates the causes and effects of fragile states on neighbouring countries and the global community.
Author: Nicola Acocella
Publisher: Cambridge University Press
Published: 2016-05-31
Total Pages: 355
ISBN-13: 131667942X
DOWNLOAD EBOOK →The recent financial crisis has demonstrated the dangers of ignoring the factors that led to previous crises, and the effectiveness of the policies designed to deal with them. Over time, these macroeconomic policies have evolved, oscillating between state intervention and a free-market approach. Following a story that runs from the pre-Great Depression era up until the Financial Crisis of 2007–11, this book reveals an intimate connection between new macroeconomic ideas and policies and the events in the real economy that inspired them. It does this in an accessible, easy-to-follow style, first by focusing on the developments of economic theories and policies, and then by concentrating on the design of domestic and international institutions and economic governance. Written by three leading experts on the history of economic policy, the book is ideal for graduates and undergraduates studying macroeconomics, monetary policy and the history of economic thought.
Author: Collectif
Publisher: OECD
Published: 2018-02-22
Total Pages:
ISBN-13: 9264290265
DOWNLOAD EBOOK →The world is getting more violent, and violence is occurring in surprising places. Over the past 15 years, 3.34 billion people, or almost half of the world’s population, have been affected by violence. The number of violent conflicts is decreasing, but conflicts are killing more people: conflict-related deaths have tripled since 2003. Violent extremism and terrorism are also on the rise. The economic cost of violence is rising too: the global economic impact of violence is a staggering USD 13.6 trillion, equivalent to 13.3% of Global GDP. And civilians, especially children and women, are most at risk. States of Fragility 2016: Understanding Violence takes a long hard look at violence in the world – and what we should do about it. The report showcases emerging thinking about violence, presents a new risk-based approach to monitoring various dimensions of fragility, and looks at financial flows in support of fragile contexts. Understanding Violence finds that development, peace and security efforts in the developing world have not kept pace with the new reality of violence. We need to dedicate more resources and attention to violence. And to be effective, we need to put people – especially youth – at the centre of our efforts.
Author: Daniel Gurara
Publisher: International Monetary Fund
Published: 2020-02-28
Total Pages: 37
ISBN-13: 1513529986
DOWNLOAD EBOOK →While expanding public investment can help filling infrastructure bottlenecks, scaling up too much and too fast often leads to inefficient outcomes. This paper rationalizes this outcome looking at the association between cost inflation and public investment in a large sample of road construction projects in developing countries. Consistent with the presence of absorptive capacity constraints, our results show a non-linear U-shaped relationship between public investment and project costs. Unit costs increase once public investment is close to 10% of GDP. This threshold is lower (about 7% of GDP) in countries with low investment efficiency and, in general, the effect of investment scaling up on costs is especially strong during investment booms.
