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Cover Policy Papers
The Fund's Capacity Development Strategy - Better Policies Through Stronger Institutions - Background Paper
International Monetary Fund
This supplement provides background information on various aspects of capacity development (CD) for the main Board paper, The Fund’s Capacity Development Strategy—Better Policies through Stronger Institutions. It is divided into nine notes or sections, each focused on a different topic covered in the main paper. Section A explores the importance of institutions for growth, and the role the Fund can play in building institutions. Section B presents stylized facts about how the landscape for CD has changed since the late 1990s. Section C discusses the difficulties of analyzing CD data because of measurement issues. Section D provides a longer-term perspective on how Fund CD has responded to member needs. Section E contains information on previous efforts to prioritize CD, assesses Regional Strategy Notes (RSNs) and country pages, and suggests ways to strengthen RSNs, including by using the Fund’s surveillance products. Section F compares the technical assistance (TA) funding model proposed in the 2011
Keywords:
PP; funding model; Fund TA; donor financing; TA department; evaluation instrument; strategy paper; TA delivery; TA priority; TA mission; TA-training synergy; resourced TA demand; evaluation program; TA needs; Personal income; Early warning systems; Employment; Information systems and platforms; Global; Sub-Saharan Africa; Middle East and Central Asia; Africa; Middle East
Cover Finance & Development
Finance & Development, December 2012
International Monetary Fund
By combating malaria with mosquito nets or building schools and providing basic sanitation, philanthropy is helping transform the developing world. Rich donors are devoting fortunes—many of them earned through computer software, entertainment, and venture capitalism— to defeating poverty and improving lives, supplementing and in some cases surpassing official aid channels.From billionaires Bill and Melinda Gates and Warren Buffett to Aliko Dangote and George Soros, the titans of capitalism are backing good causes with their cash. Whether financing new vaccines, building libraries, or buying up Amazon rain forest to protect the environment, philanthropists are supporting innovations and new approaches that are changing lives and building dreams.This issue of F&D looks at the world of targeted giving and social entrepreneurship.“ Philanthropy’s role is to get things started,” says Microsoft co-founder Bill Gates, who is the world’s most generous giver. “We used foundation funds to set up a system to make market forces work in favor of the poor.” He says that catalytic philanthropy can make a big difference. “Good ideas need evangelists. Forgotten communities need advocates.” Former U.S. President Bill Clinton tells us that networks of creative cooperation between government, business, and civil society can get things done better to solve the world’s most pressing problems.Also in this issue, Prakash Loungani profiles superstar economist Jeffrey Sachs, who helped campaign for debt relief for developing economies and championed the Millennium Development Goals. We look at how, instead of spending commodity price windfalls on physical investments, which are often sources of corruption, governments of poor countries are sometimes well advised to hand some of the income over to their citizens. We examine moves by major central banks to ease our way out of the crisis enveloping advanced economies in our Data Spotlight column, and we hear about how China’s growth inspires creativity in the West.
Keywords:
FD; F&D; price; economy; income; High school graduate; BOE's balance sheet; investment firm; BOE's purchase; High school education; data spotlight; catalytic philanthropy; absolute poverty poverty line; Income inequality; Inflation; Self-employment; Public investment spending; Global; Europe; Western Europe; Africa; Middle East
Cover IMF Staff Country Reports
Republic of Tajikistan: Poverty Reduction Strategy Paper: Progress Report
International Monetary Fund
The National Development Strategy of the Republic of Tajikistan mainly complements future renewals and ensures implementation of the development process of the country. The fields of activity of the world community outlined in the Millennium Declaration comply with the national goals and priorities of Tajikistan. In accordance with the National Development Strategy of the Republic of Tajikistan and Poverty Reduction Strategy for the period of 2010–12, priority areas for further development of complex spheres in separate sectors are unified, which basically covers public administration reform and private sector development.
Keywords:
ISCR; CR; government of the Republic of Tajikistan; poverty rate; private sector; human resources; labor market; working group; state enterprise; Civil service; Global
Cover IMF Working Papers
Institutions Rule: The Primacy of Institutions over Integration and Geography in Economic Development
Mr. Arvind Subramanian, Mr. Francesco Trebbi, and Mr. Dani Rodrik
We estimate the respective contributions of institutions, geography, and trade in determining cross-country income levels using recently developed instruments for institutions and trade. Our results indicate that the quality of institutions "trumps" everything else. Controlling for institutions, geography have at best weak direct effects on incomes, although it has a strong indirect effect through institutions. Similarly, controlling for institutions, trade has a negative, albeit, insignificant direct effect on income, although trade too has a positive effect on institutional quality. We relate our results to recent literature, and where differences exist, trace their origins to choices on samples, specification, and instrumentation.
Keywords:
WP; least squares; standard deviation; dependent variable; AJR sample; coefficient estimate; Institutions; integration; geography; development; income level; country's price level; GDP share; Personal income; Productivity; Purchasing power parity; Sub-Saharan Africa; Western Europe; Africa; Asia and Pacific; East Asia