International Monetary Fund. Western Hemisphere Dept.
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
This paper reviews the World Bank lending for structural adjustment. The World Bank has always stressed the need to use limited investable resources efficiently. It has attempted to identify investment priorities in recipient countries and lent for projects that promised a high rate of return. The Bank’s Operational Manual defines structural adjustment lending as nonproject lending to support programs of policy and institutional change necessary to modify the structure of an economy so that it can maintain both its growth rate and the viability of its balance of payments in the medium term.
International Monetary Fund. External Relations Dept.
This paper highlights that there has been remarkable agricultural growth over the past three decades. Growth has been twice as rapid as in any previous period. Output has been fueled largely by developing countries’ increased capacity to produce more food and by continued growth in the developed countries. Despite this remarkable and sometimes unrecognized achievement, the “world food problem” continues to haunt mankind. Population growth, more rapid than agricultural growth in many poor countries, has sharply reduced the per capita benefits of increased food production.
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
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.
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.
This section discusses the specification of the equations to predict the shares in GDP of each category of functional expenditure. The econometric results appear in Table 3. Table 1 shows the value of the IEC index. Table 4 ranks the countries by the value of their IEC index; a low ranking indicates a relatively low IEC index—namely, a low expenditure share relative to what would have been predicted for the country.
During his tenure as Managing Director of the IMF, and in his interactions with civil society, Michel Camdessus was asked many questions related to the IMF's role in development. This pamphlet collects questions frequently asked by civil society around the world and the responses given by Mr. Camdessus that help to clarify the IMF position on human development.