Browse

You are looking at 1 - 10 of 21 items for :

  • Middle East and Central Asia x
  • Foreign Exchange x
  • United States x
  • Financial crises x
Clear All
Mr. Paolo Mauro, Mr. Torbjorn I. Becker, Mr. Jonathan David Ostry, Mr. Romain Ranciere, and Mr. Olivier D Jeanne

Abstract

This paper focuses on what countries can do on their own—that is, on the role of domestic policies—with respect to country insurance. Member countries are routinely faced with a range of shocks that can contribute to higher volatility in aggregate output and, in extreme cases, to economic crises. The presence of such risks underlies a potential demand for mechanisms to soften the blow from adverse economic shocks. For all countries, the first line of defense against adverse shocks is the pursuit of sound policies. In light of the large costs experienced by emerging markets and developing countries as a result of past debt crises, fiscal policies should seek to improve sustainability, taking into account that sustainable debt levels seem to be lower in emerging and developing countries than in advanced countries. Although much can be accomplished by individual countries through sound policies, risk management, and self-insurance through reserves, collective insurance arrangements are likely to continue playing a key role in cushioning countries from the impact of shocks.

Mr. Paolo Mauro, Mr. Torbjorn I. Becker, Mr. Jonathan David Ostry, Mr. Romain Ranciere, and Mr. Olivier D Jeanne

Abstract

This paper focuses on what countries can do on their own—that is, on the role of domestic policies—with respect to country insurance. Member countries are routinely faced with a range of shocks that can contribute to higher volatility in aggregate output and, in extreme cases, to economic crises. The presence of such risks underlies a potential demand for mechanisms to soften the blow from adverse economic shocks. For all countries, the first line of defense against adverse shocks is the pursuit of sound policies. In light of the large costs experienced by emerging markets and developing countries as a result of past debt crises, fiscal policies should seek to improve sustainability, taking into account that sustainable debt levels seem to be lower in emerging and developing countries than in advanced countries. Although much can be accomplished by individual countries through sound policies, risk management, and self-insurance through reserves, collective insurance arrangements are likely to continue playing a key role in cushioning countries from the impact of shocks.

Mr. Tadatsugu Matsudaira

Abstract

This chapter discusses opportunities and challenges presented to customs administrations by information and communication technologies (ICT) and other modern technologies. It examines why some customs administrations struggle with low performance despite having implemented modern ICT for operations. It then discusses some potential causes of low performance, including persistent as well as newly created manual procedures in declaration processing, incomplete exploitation of ICT declaration processing systems’ functions, inadequate ICT support to enterprise-level management or back-end operations, and the inability to process and analyze data. Considering the root causes of low performance while technologies are available, the chapter also reviews the potential customs application of various disruptive technologies, such as data analytics, artificial intelligence, and scanned image analytics.

Mr. Janos Nagy

Abstract

Enforcement is a critical element of all customs administrations. The effectiveness of an administration’s enforcement and compliance efforts impacts the economic and social well-being of a country and contributes to its competitiveness in the world economy. Therefore, administrations need to assign top priority to the design, development, and implementation of enforcement and compliance strategies, policies, and programs.

Mr. R. James Clark

Abstract

This chapter explores how to create a pro-trade and competitive national economy while keeping appropriate revenue collection and border controls by (1) ensuring trader-friendly and transparent procedures and (2) increasing cooperation with other government agencies, the private sector, and other customs administrations—particularly in developing countries (WTO, 2015).1 Furthermore, the chapter aims to assist customs administrations to develop their strategies for implementation of the various trade facilitation measures that are linked directly or indirectly to customs.

Mr. Augusto A Perez Azcarraga, Mr. Tadatsugu Matsudaira, Mr. Gilles Montagnat-Rentier, Mr. Janos Nagy, and Mr. R. James Clark

Abstract

Customs administrations around the world face new challenges: an increasing volume of international trade, a revolution in new technologies, and fundamental changes in business models. The benefits of a well-performing customs administration are clear, as is the need to develop efficient, effective, fair, and modern customs administrations. Customs Matters analyzes the many changes and challenges customs administrations face and pro-poses ways to address them. By offering a cross-sectional view of the main aspects of customs ad-ministration, the book guides policymakers and customs officials as they evaluate the current state of their customs system with a view to developing, reinforcing, or relaunching their own roadmaps for customs modernization.

Mr. Tadatsugu Matsudaira and Michael Daly

Abstract

Customs is among the oldest professions in the world and often one of the most powerful government agencies with the characteristics of a tax authority, police, trade regulator, and transport regulator. The previous chapter discussed how customs needs to adapt to assume increasing roles in some areas while retaining its core roles, notably revenue collection. This chapter focuses on the changing global environment concerning trade and transport as well as evolving policies and practices regarding taxation, trade, investment, and customs valuation, all affecting customs revenue collection.

Mr. Paolo Mauro, Mr. Torbjorn I. Becker, Mr. Jonathan David Ostry, Mr. Romain Ranciere, and Mr. Olivier D Jeanne

Abstract

This paper focuses on what countries can do on their own—that is, on the role of domestic policies—with respect to country insurance. Member countries are routinely faced with a range of shocks that can contribute to higher volatility in aggregate output and, in extreme cases, to economic crises. The presence of such risks underlies a potential demand for mechanisms to soften the blow from adverse economic shocks. For all countries, the first line of defense against adverse shocks is the pursuit of sound policies. In light of the large costs experienced by emerging markets and developing countries as a result of past debt crises, fiscal policies should seek to improve sustainability, taking into account that sustainable debt levels seem to be lower in emerging and developing countries than in advanced countries. Although much can be accomplished by individual countries through sound policies, risk management, and self-insurance through reserves, collective insurance arrangements are likely to continue playing a key role in cushioning countries from the impact of shocks.

Mr. Paolo Mauro, Mr. Torbjorn I. Becker, Mr. Jonathan David Ostry, Mr. Romain Ranciere, and Mr. Olivier D Jeanne

Abstract

This paper focuses on what countries can do on their own—that is, on the role of domestic policies—with respect to country insurance. Member countries are routinely faced with a range of shocks that can contribute to higher volatility in aggregate output and, in extreme cases, to economic crises. The presence of such risks underlies a potential demand for mechanisms to soften the blow from adverse economic shocks. For all countries, the first line of defense against adverse shocks is the pursuit of sound policies. In light of the large costs experienced by emerging markets and developing countries as a result of past debt crises, fiscal policies should seek to improve sustainability, taking into account that sustainable debt levels seem to be lower in emerging and developing countries than in advanced countries. Although much can be accomplished by individual countries through sound policies, risk management, and self-insurance through reserves, collective insurance arrangements are likely to continue playing a key role in cushioning countries from the impact of shocks.

Mr. Paolo Mauro, Mr. Torbjorn I. Becker, Mr. Jonathan David Ostry, Mr. Romain Ranciere, and Mr. Olivier D Jeanne

Abstract

This paper focuses on what countries can do on their own—that is, on the role of domestic policies—with respect to country insurance. Member countries are routinely faced with a range of shocks that can contribute to higher volatility in aggregate output and, in extreme cases, to economic crises. The presence of such risks underlies a potential demand for mechanisms to soften the blow from adverse economic shocks. For all countries, the first line of defense against adverse shocks is the pursuit of sound policies. In light of the large costs experienced by emerging markets and developing countries as a result of past debt crises, fiscal policies should seek to improve sustainability, taking into account that sustainable debt levels seem to be lower in emerging and developing countries than in advanced countries. Although much can be accomplished by individual countries through sound policies, risk management, and self-insurance through reserves, collective insurance arrangements are likely to continue playing a key role in cushioning countries from the impact of shocks.