Browse

You are looking at 1 - 10 of 31 items for :

  • Education: General x
  • Occasional Papers x
Clear All
Mr. William Lee, Mr. Jorge A Chan-Lau, Ms. Dora M Iakova, Mr. Papa M N'Diaye, Ms. Tao Wang, Ida Liu, Ms. Hong Liang, and Mr. Eswar S Prasad

Abstract

This Occasional Paper provides an overview of the main challenges facing Hong Kong SAR as it continues to become more closely integrated with the mainland of China. Section I provides an overview of recent macroeconomic developments and the main policy issues in Hong Kong SAR. Section II examines various aspects of the ongoing integration with the mainland, and the associated implications for the structure of the economy, and for macroeconomic and structural policies. Section III examines the medium-term fiscal outlook under different policy scenarios and discusses alternative policy options to restore fiscal balance. Section IV reviews recent developments in the real estate sector and their macroeconomic impacts. Section V presents an econome tric analysis of deflation and its determinants. Section VI examines the factors behind, and the implications of, rising wage inequality in Hong Kong SAR. Section VII presents an overview of recent developments in the financial sector and provides an assessment of Hong Kong SAR’s prospects as an international financial center.

Mrs. Ritha S. Khemani, Mr. Sanjeev Gupta, Mr. Calvin A McDonald, Mr. Louis Dicks-Mireaux, and Marijn Verhoeven

Abstract

As part of its mandate, the IMF seeks to create the conditions necessary for sustained high-quality growth, which encompasses a broad range of elements. These include sound macroeconomic policies, growth-enhancing structural reforms, good governance, and such social policies as cost-effective social safety nets and targeted social expenditures. This paper reviews the IMF's policy advice in two key areas of social policy: social safety nets and public spending on education and health care. It was initiated as part of the work by the World Bank and IMF to strengthen the poverty focus of adjustment programs in low-income countries, in particular within the framework of the Initiative for Heavily Indebted Poor Countries (HIPCs).

Mr. Alan A. Tait and Mr. Peter S. Heller

Abstract

How many people are employed by the government? How many are employed by the central government compared with the state and local authorities? How many are employed in public enterprise? How much are they all paid? How much are they paid relative to each other, or relative to the private sector? Such questions interest people in general and economists and policymakers in particular; yet it is remarkable how little information is readily accessible on thes topics.

Mr. Peter S. Heller and Mr. Alan A. Tait

Abstract

Many studies on International tax compaisons have been undertaken since the early 1970s. While controversial, such studies have facilitated more subtle comparisons of a country's tax performance than would be afforded by focusing on its simple tax ratio.

Mrs. Ritha S. Khemani, Mr. Sanjeev Gupta, Mr. Calvin A McDonald, Mr. Louis Dicks-Mireaux, and Marijn Verhoeven

Abstract

The IMF’s mandate is, among other things, “to facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion and maintenance of high levels of employment and real income … of all members as primary objectives of economic policy.”3 To this end, the IMF promotes sound macroeconomic policies, growth-enhancing structural reforms, and good social policies–conditions for high-quality growth. The IMF has paid increasing attention to these considerations in its policy advice.

Mr. Alan A. Tait and Mr. Peter S. Heller

Abstract

How many people are employed by the government? How many are employed by the central government compared with state and local authorities? How many are employed in public enterprises? How much are they all paid? How much are they paid relative to each other, or relative to the private sector? Such questions interest people in general and economists and policymakers in particular; yet it is remarkable how little information is readily accessible on these topics.

Mr. Peter S. Heller and Mr. Alan A. Tait

Abstract

Many studies on international tax comparisons have been undertaken since the early 1970s.2 While controversial, such studies have facilitated more subtle comparisons of a country’s tax performance than would be afforded by focusing on its simple tax ratio. This paper provides a comparable framework for comparisons of both functional and economic expenditure patterns of countries having similar economic and demographic positions. It also provides an implicit technological norm for predicting the economic characteristics of a country’s expenditure pattern, based on its choice of priorities for functional expenditures.

Ms. Hong Liang and Mr. Eswar S Prasad

Abstract

Hong Kong, Special Administrative Region (Hong Kong SAR) enjoyed impressive economic growth, high levels of income, and close-to-full employment for years until the Asian crisis of 1997 brought about the most severe recession in a generation. Following this, the economy rebounded in 1999 and 2000. Before sustained growth could take hold, however, the global slowdown in 2001 brought on another recession. After four quarters of negative or near-zero growth, the economy of Hong Kong SAR began to show signs of a pickup in the second half of 2002, although domestic demand remained weak. The outbreak of Severe Acute Respiratory Syndrome (SARS) disrupted economic activity once again in the second quarter of 2003. With the rapid containment of SARS, however, there are good prospects of a rebound in activity, supported by strengthening domestic demand and rising exports.

Mr. Alan A. Tait and Mr. Peter S. Heller

Abstract

The collection of data on the subject of government employment and wages proved extremely difficult. Neither the International Labor Organization (ILO) nor any of the other United Nations organizations collects statistics on either subject in a standardized way. The Organization for Economic Cooperation and Development (OECD) has occasionally done work in this area but only on a limited basis, including a recent study on the general magnitude of government employment in the OECD countries during the 1970s.1 Over the last 20 years, a handful of academic studies have been made on the subject.2

Mr. Peter S. Heller and Mr. Alan A. Tait

Abstract

One can make hypotheses about the identity of the factors that are likely to influence spending in a given functional sector, and the significance of such factors can be empirically tested. Six groups of factors can be identified: (1) demographic influences, (2) sociological concerns, (3) the structure of the economy, (4) the level of economic development, (5) technological factors, and (6) environmental factors.