| Description |
1 online resource (260 pages) |
| Series |
Directions in development. Public sector governance |
|
Directions in development (Washington, D.C.). Public sector governance.
|
| Contents |
Cover; Contents; Foreword; About the Editor and Authors; Acknowledgments; Abbreviations; Overview: Fiscal Policy for Growth and Development; Context, Recent Trends, and Lessons from the Crisis; Figures; O.1 World Output Growth, 1961-2012; O.2 Frequency Distribution of GDP Growth, Developed and Developing Countries, 2009; O.3 General Government Debt, Medians, 2002-11; Fiscal Policy for Growth and Development-A Framework; O.4 General Government Debt, All Developing Countries, 2002-11; O.5 Fiscal Policy for Growth and Development, A Framework; Public Spending and Long-Run Growth |
|
Public Investment Management: Challenges and ToolsFiscal Policy for Sustainable Development in Resource-Rich LICs; Analyzing the Distributive Effects of Fiscal Policies: How to Prepare (Analytically) for the Next Crisis; Fiscal Policy Lessons from the Global Crisis in Sub-Saharan Africa; The Way Forward; Notes; References; Chapter 1 Fiscal Policy for Growth and Social Welfare; Evaluative Framework for Fiscal Policy Making; 1.1 Framing the Impact of Fiscal Policy on Growth and Social Welfare; Potential Impact of Fiscal Policy on Growth; Assessing the Redistributive Effects of Fiscal Policy |
|
The Political Economy of Fiscal VolatilitySocial Safety Nets; Evidence from Fiscal Policy Responses to the Crisis; 1.2 Correlation between the Growth Performance and Social Protection Expenditures, Selected Countries; Boxes; 1.1 Social Spending in Argentina in Times of Crisis; 1.2 Social Spending and Tax Policy in the Republic of Korea; 1.3 Policy Responses in Peru and Indonesia; 1.4 Limited Fiscal Space and Stimulus Policies in the Philippines; Concluding Remarks; 1.5 Fiscal Policies and the Help of Automatic Stabilizers in Thailand; Notes; References |
|
Chapter 2 Public Spending and Long-Run Growth in Practice: Concepts, Tools, and EvidenceConceptual Issues in Estimating the Growth Effects of Public Expenditure Reforms; Existing Evidence on the Effects of Public Expenditure Reforms in Developing Countries; Tables; 2.1 Summary of Relevant Papers; 2.2 Estimated Growth Effects of Productive Expenditure; 2.3 Estimated Growth Effects of Capital Expenditure; 2.4 Estimated Growth Effects of Current Expenditure Components; 2.5 Estimated Growth Effects of Sectoral Expenditure; Public Spending for Growth during the Global Crisis |
|
2.1 Fiscal Policy in the Republic of KoreaDirections for Future Research and for Policy Making in Practice; Conclusion; Notes; References; Chapter 3 Public Investment Management Challenges and Tools; 3.1 A Flash Survey of the Public Investment Management (PIM) Challenge; Public Investment and the Recent Global Crisis; 3.2 Public Investment Trends by Income Group, 1998-2009; 3.1 Selected Country Capital Spending Trajectories and Budget Credibility; 3.3 Public Investment Levels and the Global Crisis, 2008-09; The Challenge of Improving the Efficiency of Public Investments |
| Summary |
The global financial crisis has reignited interest in counter-cyclical fiscal policy as a critical instrument to provide immediate economic stimulus. But policy makers are also increasingly interested in how fiscal policy will impact growth and poverty over a longer run horizon, knowing that any quick responses to exogenous shocks also affect income generation and distribution. Those effects are less well known, however, and their dynamics still represent a challenge for many countries. In this book the authors explore methodological advances and new practices for fiscal policy implementation with a particular focus on developing countries. They also attempt to draw preliminary lessons from the global crisis and the still persisting uncertainty about future growth prospects. The crisis has brought into question many economic concepts, policies, and implementation practices that economists supported in previous decades. Counter-cyclical fiscal policy has suddenly returned to prominence worldwide either in conjunction with or in lieu of monetary policy and exchange rate adjustments, as a possible alternative in response to the unexpected and acute shocks that the crisis has brought about. These experiences are providing valuable lessons about the design and effectiveness of fiscal policy measures in developing countries, which is the focus of this volume. Since focusing entirely on the temporary effects of the crisis would mask the bigger challenges underlying the conduct of fiscal policy, particularly in countries where longer term growth patterns remain sluggish or volatile, and poverty and inequality still persist, the authors adopt a broader perspective trying to better understand the dynamics of longer term effects. The purpose of this book is precisely to improve our understanding of the challenges and possible innovative solutions in implementing fiscal policy for growth and welfare purposes, taking into account that crises do occur and will continue occurring, affecting previous growth and inequality paths. The authors present an analysis of some of the trade offs and policy choices that developing countries face, in light of the recent crisis. From expenditure composition to benefit incidence analysis, passing through the difficulties of improving public investment management, the authors consider a whole range of methodological advances and new practices that could enlighten practitioners in designing fiscal policy packages appropriate to the reality of their own countries. A special chapter is dedicated to African countries and a final section highlights some of the remaining topics for future research, together with data and other pertinent issues |
| Bibliography |
Includes bibliographical references |
| Notes |
Print version record |
| Subject |
Fiscal policy -- Developing countries
|
|
Financial crises -- Developing countries
|
|
Economic development.
|
|
economic development.
|
|
BUSINESS & ECONOMICS -- Economics -- Macroeconomics.
|
|
POLITICAL SCIENCE -- Economic Conditions.
|
|
Economic development
|
|
Financial crises
|
|
Fiscal policy
|
|
Developing countries
|
| Form |
Electronic book
|
| Author |
Moreno-Dodson, Blanca.
|
|
World Bank.
|
| LC no. |
2012030189 |
| ISBN |
9780821396315 |
|
0821396315 |
|
9781283854108 |
|
1283854104 |
|
