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Political Costs of Tax-Based Consolidations

Political Costs of Tax-Based Consolidations »

Volume/Issue: 2019/298

Series: IMF Working Papers

Author(s): Chuling Chen , Era Dabla-Norris , Jay Rappaport , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2019

DOI: http://dx.doi.org/10.5089/9781513521534.001

ISBN: 9781513521534

Keywords: Base rates, Budget deficits, Business cycles, Capital, Capital income, Capital stocks, Corporate income taxes, Debt, Debt reduction, Debt sustainability

This paper studies the impact of tax-based consolidations on reelection outcomes. Using a granular database of tax-based consolidations for a panel of 10 OECD countries over the last 40 years, we find that tax refo...

Political Costs of Tax-Based Consolidations

Political Costs of Tax-Based Consolidations »

Source: Political Costs of Tax-Based Consolidations

Volume/Issue: 2019/298

Series: IMF Working Papers

Author(s): Chuling Chen , Era Dabla-Norris , Jay Rappaport , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2019

ISBN: 9781513521534

Keywords: Base rates, Budget deficits, Business cycles, Capital, Capital income, Capital stocks, Corporate income taxes, Debt, Debt reduction, Debt sustainability

This paper studies the impact of tax-based consolidations on reelection outcomes. Using a granular database of tax-based consolidations for a panel of 10 OECD countries over the last 40 years, we find that tax refo...

Belize: Selected Issues

Belize: Selected Issues »

Source: Belize : Selected Issues

Volume/Issue: 2019/365

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2019

ISBN: 9781513522142

Keywords: Tax revenue, Tax competition, Tax reforms, Tax incentives, Tax exemptions, ISCR, CR, special regime, business tax, IBCs

This Selected Issues paper provides an overview of Belize's tourism sector and main achievements and discusses the country's comparative advantages and bottlenecks in tourism. It also analyzes the impact of structu...

Belize: Selected Issues

Belize: Selected Issues »

Source: Belize : Selected Issues

Volume/Issue: 2019/365

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2019

ISBN: 9781513522142

Keywords: Tax revenue, Tax competition, Tax reforms, Tax incentives, Tax exemptions, ISCR, CR, special regime, business tax, IBCs

This Selected Issues paper provides an overview of Belize's tourism sector and main achievements and discusses the country's comparative advantages and bottlenecks in tourism. It also analyzes the impact of structu...

Belize
			: Selected Issues

Belize : Selected Issues »

Volume/Issue: 2019/365

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2019

DOI: http://dx.doi.org/10.5089/9781513522142.002

ISBN: 9781513522142

Keywords: Tax revenue, Tax competition, Tax reforms, Tax incentives, Tax exemptions, ISCR, CR, special regime, business tax, IBCs

This Selected Issues paper provides an overview of Belize's tourism sector and main achievements and discusses the country's comparative advantages and bottlenecks in tourism. It also analyzes the impact of structu...

Colombia

Colombia »

Source: Colombia : Technical Assistance Report-Reforming Energy Pricing

Volume/Issue: 2019/344

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 November 2019

Language: Spanish

ISBN: 9781513520650

Keywords: ISCR, CR, fuel product, CREG, reference price, decile, external stakeholders

Energy Subsidy Reform is a key pillar of Colombia's national development plan. Rising fiscal challenges in Colombia-which have been exacerbated by the adjustment costs associated with recent large migration flows f...

Colombia

Colombia »

Source: Colombia : Technical Assistance Report-Reforming Energy Pricing

Volume/Issue: 2019/344

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 November 2019

ISBN: 9781513520629

Keywords: Producer prices, Oil prices, Social safety nets, Energy prices, Purchasing power, ISCR, CR, fuel product, CREG, reference price

This paper on Colombia focuses on reforming energy pricing. Rising fiscal challenges in Colombia can risk derailing the government from their commitment to meet both its headline deficit target of 2.4 percent in 20...

Colombia
			: Technical Assistance Report-Reforming Energy Pricing

Colombia : Technical Assistance Report-Reforming Energy Pricing »

Volume/Issue: 2019/344

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 November 2019

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781513520650.002

ISBN: 9781513520650

Keywords: ISCR, CR, fuel product, CREG, reference price, decile, external stakeholders

Energy Subsidy Reform is a key pillar of Colombia's national development plan. Rising fiscal challenges in Colombia-which have been exacerbated by the adjustment costs associated with recent large migration flows f...

Colombia
			: Technical Assistance Report-Reforming Energy Pricing

Colombia : Technical Assistance Report-Reforming Energy Pricing »

Volume/Issue: 2019/344

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 November 2019

DOI: http://dx.doi.org/10.5089/9781513520629.002

ISBN: 9781513520629

Keywords: Producer prices, Oil prices, Social safety nets, Energy prices, Purchasing power, ISCR, CR, fuel product, CREG, reference price

This paper on Colombia focuses on reforming energy pricing. Rising fiscal challenges in Colombia can risk derailing the government from their commitment to meet both its headline deficit target of 2.4 percent in 20...

The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus1

The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus1 »

Source: The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus

Volume/Issue: 2019/244

Series: IMF Working Papers

Author(s): Pragyan Deb , Albe Gjonbalaj , and Swarnali Hannan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2019

ISBN: 9781513516097

Keywords: Accounting, Aging, Assets, Balance of trade, Bank deposits, Bilateral trade, Bonds, Capital, Capital account, Capital flows

China's current account surplus has declined significantly from its peak in 2008 and the external position in 2018 was in line with medium-term fundamentals and desirable policies. While cyclical factors and expans...

The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus

The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus »

Volume/Issue: 2019/244

Series: IMF Working Papers

Author(s): Pragyan Deb , Albe Gjonbalaj , and Swarnali Hannan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2019

DOI: http://dx.doi.org/10.5089/9781513516097.001

ISBN: 9781513516097

Keywords: Accounting, Aging, Assets, Balance of trade, Bank deposits, Bilateral trade, Bonds, Capital, Capital account, Capital flows

China's current account surplus has declined significantly from its peak in 2008 and the external position in 2018 was in line with medium-term fundamentals and desirable policies. While cyclical factors and expans...

4. Capital Flows to MENAP and the CCA: Opportunities and Risks

4. Capital Flows to MENAP and the CCA: Opportunities and Risks »

Source: Regional Economic Outlook, October 2019, Middle East and Central Asia

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2019

ISBN: 9781513514000

Keywords: Regional Economic Outlook, Middle East and Central Asia, Economic growth, Oil prices, Market economies, Regional economics, Fiscal policy, economic outlook, global trade tensions, oil-importing countries

Capital flows to the Middle East and Central Asian countries have been resilient even as global financial conditions tightened in 2014–16. Such flows have helped finance current account and fisc...

3. Caucasus and Central Asia: Boosting Competitiveness for Higher and More Inclusive Growth

3. Caucasus and Central Asia: Boosting Competitiveness for Higher and More Inclusive Growth »

Source: Regional Economic Outlook, October 2019, Middle East and Central Asia

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2019

ISBN: 9781513514000

Keywords: Regional Economic Outlook, Middle East and Central Asia, Economic growth, Oil prices, Market economies, Regional economics, Fiscal policy, economic outlook, global trade tensions, oil-importing countries

Global trade tensions and slowing growth in key trading partners are affecting the Caucasus and Central Asia (CCA) region. However, despite a decline in export growth, growth will remain broadly...

5. Fiscal Institutions and Fiscal Outcomes

5. Fiscal Institutions and Fiscal Outcomes »

Source: Regional Economic Outlook, October 2019, Middle East and Central Asia

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2019

ISBN: 9781513514000

Keywords: Regional Economic Outlook, Middle East and Central Asia, Economic growth, Oil prices, Market economies, Regional economics, Fiscal policy, economic outlook, global trade tensions, oil-importing countries

Countries in the Middle East and Central Asia are facing significant fiscal challenges, amid volatile oil prices, subdued growth, and conflicts. Weak fiscal institutions have contributed to spen...

Global Developments: Implications for the Middle East and Central Asia Region

Global Developments: Implications for the Middle East and Central Asia Region »

Source: Regional Economic Outlook, October 2019, Middle East and Central Asia

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2019

ISBN: 9781513514000

Keywords: Regional Economic Outlook, Middle East and Central Asia, Economic growth, Oil prices, Market economies, Regional economics, Fiscal policy, economic outlook, global trade tensions, oil-importing countries

Global developments continue to impact the Middle East and Central Asia (MCD) region. Average growth worldwide has once more been revised down and is anticipated to...

1. MENAP Oil-Exporting Countries: Transitioning to a Sustainable Fiscal Position and Higher Growth

1. MENAP Oil-Exporting Countries: Transitioning to a Sustainable Fiscal Position and Higher Growth »

Source: Regional Economic Outlook, October 2019, Middle East and Central Asia

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2019

ISBN: 9781513514000

Keywords: Regional Economic Outlook, Middle East and Central Asia, Economic growth, Oil prices, Market economies, Regional economics, Fiscal policy, economic outlook, global trade tensions, oil-importing countries

Growth in the near term remains subdued for oil exporters in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, amid volatile oil prices, precarious global growth, elevated...

2. MENAP Oil-Importing Countries: Addressing Fiscal Challenges amid Social Pressures

2. MENAP Oil-Importing Countries: Addressing Fiscal Challenges amid Social Pressures »

Source: Regional Economic Outlook, October 2019, Middle East and Central Asia

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2019

ISBN: 9781513514000

Keywords: Regional Economic Outlook, Middle East and Central Asia, Economic growth, Oil prices, Market economies, Regional economics, Fiscal policy, economic outlook, global trade tensions, oil-importing countries

Growth in oil-importing countries in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region is expected to be muted in coming years, and lower than comparators. High public debt...

Regional Economic Outlook, October 2019, Middle East and Central Asia

Regional Economic Outlook, October 2019, Middle East and Central Asia »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2019

DOI: http://dx.doi.org/10.5089/9781513514000.086

ISBN: 9781513514000

Keywords: Regional Economic Outlook, Middle East and Central Asia, Economic growth, Oil prices, Market economies, Regional economics, Fiscal policy, economic outlook, global trade tensions, oil-importing countries

Growth in the near term remains subdued for oil exporters in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, amid volatile oil prices, precarious global growth, elevated fiscal vulnerabilit...

Front Matter

Front Matter »

Source: Regional Economic Outlook, October 2019, Middle East and Central Asia

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2019

ISBN: 9781513514000

Keywords: Regional Economic Outlook, Middle East and Central Asia, Economic growth, Oil prices, Market economies, Regional economics, Fiscal policy, economic outlook, global trade tensions, oil-importing countries

Growth in the near term remains subdued for oil exporters in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, amid volatile oil prices, precarious global growth, elevated fiscal vulnerabilit...

Tariff Passthrough at the Border

Tariff Passthrough at the Border »

Volume/Issue: 2019/238

Series: IMF Working Papers

Author(s): Gita Gopinath , Alberto Calvallo , Brent Neiman , and Jenny Tang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2019

DOI: http://dx.doi.org/10.5089/9781513518381.001

ISBN: 9781513518381

Keywords: Price indexes, Import tariffs, Import price indexes, Producer prices, Export price indexes, trade policy, tariffs, exchange rate passthrough., WP, passthrough

We use micro data collected at the border and at retailers to characterize the effects brought by recent changes in US trade policy - particularly the tariffs placed on imports from China - on importers, consumers,...

Tariff Passthrough at the Border∗

Tariff Passthrough at the Border∗ »

Source: Tariff Passthrough at the Border

Volume/Issue: 2019/238

Series: IMF Working Papers

Author(s): Gita Gopinath , Alberto Calvallo , Brent Neiman , and Jenny Tang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2019

ISBN: 9781513518381

Keywords: Price indexes, Import tariffs, Import price indexes, Producer prices, Export price indexes, trade policy, tariffs, exchange rate passthrough., WP, passthrough

We use micro data collected at the border and at retailers to characterize the effects brought by recent changes in US trade policy - particularly the tariffs placed on imports from China - on importers, consumers,...

Lebanon
			: Selected Issues

Lebanon : Selected Issues »

Volume/Issue: 2019/313

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 October 2019

DOI: http://dx.doi.org/10.5089/9781513517070.002

ISBN: 9781513517070

Keywords: Energy sector, Tariff structures, Capital expenditure, Energy policy, Purchasing power, ISCR, CR, private generator, electricity sector, non-technical

This Selected Issues on Lebanon studies the inefficiencies related to the electricity sector and assesses the potential impact of the 2019 reform plan. The paper also focuses on its impact on business competitivene...

Lebanon

Lebanon »

Source: Lebanon : Selected Issues

Volume/Issue: 2019/313

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 October 2019

ISBN: 9781513517070

Keywords: Energy sector, Tariff structures, Capital expenditure, Energy policy, Purchasing power, ISCR, CR, private generator, electricity sector, non-technical

This Selected Issues on Lebanon studies the inefficiencies related to the electricity sector and assesses the potential impact of the 2019 reform plan. The paper also focuses on its impact on business competitivene...

The Macroeconomic Effects of Labor and Product Market Reforms in Morocco

The Macroeconomic Effects of Labor and Product Market Reforms in Morocco »

Volume/Issue: 2019/222

Series: IMF Working Papers

Author(s): Babacar Sarr , Mokhtar Benlamine , and Zsuzsa Munkacsi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 October 2019

DOI: http://dx.doi.org/10.5089/9781513513768.001

ISBN: 9781513513768

Keywords: Access to foreign markets, Bankruptcy, Banks, Basket of currency peg, Capital, Capital accumulation, Capital flows, Capital formation, Commodity markets, Commodity prices

This paper studies the macroeconomic effects and sequencing of (LMRs) and product (PMRs) market reforms in Morocco. It finds that introducing LMRs and PMRs simultaneously would add about 2.5 percentage points (pp)...

The Macroeconomic Effects of Labor and Product Market Reforms in Morocco

The Macroeconomic Effects of Labor and Product Market Reforms in Morocco »

Source: The Macroeconomic Effects of Labor and Product Market Reforms in Morocco

Volume/Issue: 2019/222

Series: IMF Working Papers

Author(s): Babacar Sarr , Mokhtar Benlamine , and Zsuzsa Munkacsi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 October 2019

ISBN: 9781513513768

Keywords: Access to foreign markets, Bankruptcy, Banks, Basket of currency peg, Capital, Capital accumulation, Capital flows, Capital formation, Commodity markets, Commodity prices

This paper studies the macroeconomic effects and sequencing of (LMRs) and product (PMRs) market reforms in Morocco. It finds that introducing LMRs and PMRs simultaneously would add about 2.5 percentage points (pp)...

How to Design Tax Policy in Fragile States

How to Design Tax Policy in Fragile States »

Volume: 19

Series: IMF How To Notes

Author(s): Mario Mansour , and Jean-Luc Schneider

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 September 2019

DOI: http://dx.doi.org/10.5089/9781513508153.061

ISBN: 9781513508153

Keywords: Tax policy, Revenue mobilization, Efficiency of public spending, Equity and social spending, Tax revenue, Tax evasion, Tax reforms, Tax systems, Equity and social spending, FADHTN

The purpose of this note is to provide a framework for improving tax policy design in fragile and conflict-affected states, which face political and institutional constraints. This note begins with an overview of e...

How to Design Tax Policy in Fragile States

How to Design Tax Policy in Fragile States »

Source: How to Design Tax Policy in Fragile States

Volume: 19

Series: IMF How To Notes

Author(s): Mario Mansour , and Jean-Luc Schneider

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 September 2019

ISBN: 9781513508153

Keywords: Tax policy, Revenue mobilization, Efficiency of public spending, Equity and social spending, Tax revenue, Tax evasion, Tax reforms, Tax systems, Equity and social spending, FADHTN

The purpose of this note is to provide a framework for improving tax policy design in fragile and conflict-affected states, which face political and institutional constraints. This note begins with an overview of e...

Trade Wars and Trade Deals: Estimated Effects using a Multi-Sector Model

Trade Wars and Trade Deals: Estimated Effects using a Multi-Sector Model »

Volume/Issue: 2019/143

Series: IMF Working Papers

Author(s): Carlos Caceres , Diego Cerdeiro , and Rui Mano

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2019

DOI: http://dx.doi.org/10.5089/9781498318440.001

ISBN: 9781498318440

Keywords: Export restraints, Balance of trade, Patterns of trade, Trade models, International trade agreements, general equilibrium, trade, tariffs, trade tensions, global value chains.

This paper studies the potential long-term effects of three illustrative scenarios using a multi-sector computable general equilibrium (CGE) trade model calibrated to 165 countries. The first scenario estimates eff...

Trade Wars and Trade Deals: Estimated Effects using a Multi-Sector Model1

Trade Wars and Trade Deals: Estimated Effects using a Multi-Sector Model1 »

Source: Trade Wars and Trade Deals: Estimated Effects using a Multi-Sector Model

Volume/Issue: 2019/143

Series: IMF Working Papers

Author(s): Carlos Caceres , Diego Cerdeiro , and Rui Mano

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2019

ISBN: 9781498318440

Keywords: Export restraints, Balance of trade, Patterns of trade, Trade models, International trade agreements, general equilibrium, trade, tariffs, trade tensions, global value chains.

This paper studies the potential long-term effects of three illustrative scenarios using a multi-sector computable general equilibrium (CGE) trade model calibrated to 165 countries. The first scenario estimates eff...

Real Effective Exchange Rate and Trade Balance Adjustment: The Case of Turkey

Real Effective Exchange Rate and Trade Balance Adjustment: The Case of Turkey »

Volume/Issue: 2019/131

Series: IMF Working Papers

Author(s): Plamen Iossifov , and Xuan Fei

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2019

DOI: http://dx.doi.org/10.5089/9781498312738.001

ISBN: 9781498312738

Keywords: Real effective exchange rates, Balance of trade, Trade deficits, Current account, Patterns of trade, Real trade balance adjustment, REER, long-run, trade balance, elasticity

There is an ongoing debate in the literature on whether global trade flows have become disconnected from the large real effective exchange rate movements in the wake of the global financial crisis. The question has...

The Price of Capital Goods: A Driver of Investment Under Threat

The Price of Capital Goods: A Driver of Investment Under Threat »

Volume/Issue: 2019/134

Series: IMF Working Papers

Author(s): Weicheng Lian , Natalija Novta , Evgenia Pugacheva , Yannick Timmer , and Petia Topalova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2019

DOI: http://dx.doi.org/10.5089/9781498317429.001

ISBN: 9781498317429

Keywords: Real interest rates, Producer prices, Economic integration, Capital goods, Low-income developing countries, Relative price of investment goods, trade integration, trade barriers, capital deepening, global value chain

Over the past three decades, the price of machinery and equipment fell dramatically relative to other prices in advanced and emerging market and developing economies. Using cross-country and sectoral data, we show...

The Price of Capital Goods: A Driver of Investment Under Threat

The Price of Capital Goods: A Driver of Investment Under Threat »

Source: The Price of Capital Goods: A Driver of Investment Under Threat

Volume/Issue: 2019/134

Series: IMF Working Papers

Author(s): Weicheng Lian , Natalija Novta , Evgenia Pugacheva , Yannick Timmer , and Petia Topalova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2019

ISBN: 9781498317429

Keywords: Real interest rates, Producer prices, Economic integration, Capital goods, Low-income developing countries, Relative price of investment goods, trade integration, trade barriers, capital deepening, global value chain

Over the past three decades, the price of machinery and equipment fell dramatically relative to other prices in advanced and emerging market and developing economies. Using cross-country and sectoral data, we show...

Real Effective Exchange Rate and Trade Balance Adjustment: The Case of Turkey1

Real Effective Exchange Rate and Trade Balance Adjustment: The Case of Turkey1 »

Source: Real Effective Exchange Rate and Trade Balance Adjustment: The Case of Turkey

Volume/Issue: 2019/131

Series: IMF Working Papers

Author(s): Plamen Iossifov , and Xuan Fei

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2019

ISBN: 9781498312738

Keywords: Real effective exchange rates, Balance of trade, Trade deficits, Current account, Patterns of trade, Real trade balance adjustment, REER, long-run, trade balance, elasticity

There is an ongoing debate in the literature on whether global trade flows have become disconnected from the large real effective exchange rate movements in the wake of the global financial crisis. The question has...

Czech Republic

Czech Republic »

Source: Czech Republic : Selected Issues

Volume/Issue: 2019/161

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2019

ISBN: 9781498319423

Keywords: External shocks, Patterns of trade, Demand elasticity, Price indexes, Import tariffs, gross export, value-added, linkage, Czech economy, low demand

Selected Issues...

Czech Republic
			: Selected Issues

Czech Republic : Selected Issues »

Volume/Issue: 2019/161

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2019

DOI: http://dx.doi.org/10.5089/9781498319423.002

ISBN: 9781498319423

Keywords: External shocks, Patterns of trade, Demand elasticity, Price indexes, Import tariffs, gross export, value-added, linkage, Czech economy, low demand

Selected Issues...

The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model

The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model »

Source: The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model

Volume/Issue: 2019/124

Series: IMF Working Papers

Author(s): Lisandro Abrego , Maria Alejandra Amado , Tunc Gursoy , Garth Nicholls , and Hector Perez-Saiz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 June 2019

ISBN: 9781498314398

Keywords: Economic integration, Open economies, International trade agreements, Trade finance, Comparative advantage, AfCFTA, welfare, general equilibrium, trade barriers, welfare gain

In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and s...

The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model

The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model »

Volume/Issue: 2019/124

Series: IMF Working Papers

Author(s): Lisandro Abrego , Maria Alejandra Amado , Tunc Gursoy , Garth Nicholls , and Hector Perez-Saiz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 June 2019

DOI: http://dx.doi.org/10.5089/9781498314398.001

ISBN: 9781498314398

Keywords: Economic integration, Open economies, International trade agreements, Trade finance, Comparative advantage, AfCFTA, welfare, general equilibrium, trade barriers, welfare gain

In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and s...

Revenue Administration
			: Short-Term Measures to Increase Customs Revenue in  Low-Income and Fragile Countries

Revenue Administration : Short-Term Measures to Increase Customs Revenue in Low-Income and Fragile Countries »

Volume: 2019

Series: Technical Notes and Manuals

Author(s): Gilles Montagnat-Rentier

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 April 2019

DOI: http://dx.doi.org/10.5089/9781498305617.005

ISBN: 9781498305617

Keywords: Financial statistics, Tax revenue, Customs duties, Capital goods, Import tariffs, custom administration, transaction value, custom authority, custom procedure, valuation method

This note discusses administrative measures that can be implemented by customs administrations of low-income and fragile countries in a short period (about a year) to improve traders' compliance and improve revenue...

Revenue Administration

Revenue Administration »

Source: Revenue Administration : Short-Term Measures to Increase Customs Revenue in Low-Income and Fragile Countries

Volume: 2019

Series: Technical Notes and Manuals

Author(s): Gilles Montagnat-Rentier

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 April 2019

ISBN: 9781498305617

Keywords: Financial statistics, Tax revenue, Customs duties, Capital goods, Import tariffs, custom administration, transaction value, custom authority, custom procedure, valuation method

This note discusses administrative measures that can be implemented by customs administrations of low-income and fragile countries in a short period (about a year) to improve traders' compliance and improve revenue...

NAFTA to USMCA: What is Gained?

NAFTA to USMCA: What is Gained? »

Volume/Issue: 2019/73

Series: IMF Working Papers

Author(s): Mary Burfisher , Frederic Lambert , and Troy Matheson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 March 2019

DOI: http://dx.doi.org/10.5089/9781498303286.001

ISBN: 9781498303286

Keywords: Economic integration, Trade policy, Patterns of trade, Merchandise trade, Bilateral trade, NAFTA, USMCA, LVC, RVC, U.S. tariff

The United States - Mexico - Canada Agreement (USMCA) was signed on November 30, 2018 and aims to replace and modernize the North-American Free Trade Agreement (NAFTA). This paper uses a global, multisector, compu...

NAFTA to USMCA: What is Gained?1

NAFTA to USMCA: What is Gained?1 »

Source: NAFTA to USMCA: What is Gained?

Volume/Issue: 2019/73

Series: IMF Working Papers

Author(s): Mary Burfisher , Frederic Lambert , and Troy Matheson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 March 2019

ISBN: 9781498303286

Keywords: Economic integration, Trade policy, Patterns of trade, Merchandise trade, Bilateral trade, NAFTA, USMCA, LVC, RVC, U.S. tariff

The United States - Mexico - Canada Agreement (USMCA) was signed on November 30, 2018 and aims to replace and modernize the North-American Free Trade Agreement (NAFTA). This paper uses a global, multisector, compu...

St. Lucia
			: Technical Assistance Report-Report on Supply and Use Tables Mission

St. Lucia : Technical Assistance Report-Report on Supply and Use Tables Mission »

Volume/Issue: 2019/14

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2019

DOI: http://dx.doi.org/10.5089/9781484394205.002

ISBN: 9781484394205

Keywords: Technical assistance missions, Real sector statistics, Special Data Dissemination Standard, Technical Assistance Reports, National accounts aggregates, Price indexes, Import tariffs, Statistics, Consumption, SUT

A technical assistance (TA) mission was undertaken by the Real Sector Statistics Advisor in the Caribbean Regional Technical Assistance Centre (CARTAC) to St. Lucia during September 17-28, 2018, to provide advice t...

St. Lucia

St. Lucia »

Source: St. Lucia : Technical Assistance Report-Report on Supply and Use Tables Mission

Volume/Issue: 2019/14

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2019

ISBN: 9781484394205

Keywords: Technical assistance missions, Real sector statistics, Special Data Dissemination Standard, Technical Assistance Reports, National accounts aggregates, Price indexes, Import tariffs, Statistics, Consumption, SUT

A technical assistance (TA) mission was undertaken by the Real Sector Statistics Advisor in the Caribbean Regional Technical Assistance Centre (CARTAC) to St. Lucia during September 17-28, 2018, to provide advice t...

Gulf Cooperation Council

Gulf Cooperation Council »

Source: Gulf Cooperation Council : Trade and Foreign Investment-Keys to Diversification and Growth in the GCC

Volume/Issue: 2018/058

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 December 2018

ISBN: 9781498310307

Keywords: Economic integration, Investment policy, Economic growth, Global competitiveness, Comparative advantage, GCC country, non-oil, FDI, FDI inflow, GCC

"Diversification of the GCC economies, supported by greater openness to trade and higher foreign investment, can have a large impact on growth. Such measures can support higher, sustained, and more inclusive growth...

Gulf Cooperation Council
			: Trade and Foreign Investment-Keys to Diversification and Growth in the GCC

Gulf Cooperation Council : Trade and Foreign Investment-Keys to Diversification and Growth in the GCC »

Volume/Issue: 2018/058

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 December 2018

DOI: http://dx.doi.org/10.5089/9781498310307.007

ISBN: 9781498310307

Keywords: Economic integration, Investment policy, Economic growth, Global competitiveness, Comparative advantage, GCC country, non-oil, FDI, FDI inflow, GCC

"Diversification of the GCC economies, supported by greater openness to trade and higher foreign investment, can have a large impact on growth. Such measures can support higher, sustained, and more inclusive growth...

Statement by the Managing Director on the Independent Evaluation Office Report on IMF Exchange Rate Policy Advice
			:  Revisiting the 2007 IEO Evaluation

Statement by the Managing Director on the Independent Evaluation Office Report on IMF Exchange Rate Policy Advice : Revisiting the 2007 IEO Evaluation »

Volume/Issue: 2017/057

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 October 2017

DOI: http://dx.doi.org/10.5089/9781498346290.007

ISBN: 9781498346290

Keywords: Exchange rate policy, External sector assessment, Exchange rate assessments, External sector, Exchange rates, IEO, ESR, IMF, continued attention, main find

I would like to thank the Independent Evaluation Office (IEO) for preparing this informative and timely report, which provides an update on the IMF's progress in its approach to exchange rate policy advice since 20...

Statement by the Managing Director on the Independent Evaluation Office Report on IMF Exchange Rate Policy Advice

Statement by the Managing Director on the Independent Evaluation Office Report on IMF Exchange Rate Policy Advice »

Source: Statement by the Managing Director on the Independent Evaluation Office Report on IMF Exchange Rate Policy Advice : Revisiting the 2007 IEO Evaluation

Volume/Issue: 2017/057

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 October 2017

ISBN: 9781498346290

Keywords: Exchange rate policy, External sector assessment, Exchange rate assessments, External sector, Exchange rates, IEO, ESR, IMF, continued attention, main find

I would like to thank the Independent Evaluation Office (IEO) for preparing this informative and timely report, which provides an update on the IMF's progress in its approach to exchange rate policy advice since 20...

IMF Executive Board Reviews the Role of Trade in the Fund’s Work

IMF Executive Board Reviews the Role of Trade in the Fund’s Work »

Source: Review of the Role of Trade in the Work of the Fund

Volume/Issue: 2015/011

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2015

ISBN: 9781498344876

Keywords: Bilateral surveillance, Developed countries, Emerging markets, Fund role, International trade, Low-income developing countries, Multilateral surveillance, Trade integration, Trade liberalization, Trade policy

This review follows the Board-endorsed recommendation by the IEO in 2009 to have an assessment of the Fund's work on trade every five years. In addition to reviewing past work, this paper discusses key issues going...

Review of the Role of Trade in the Work of the Fund

Review of the Role of Trade in the Work of the Fund »

Volume/Issue: 2015/011

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2015

DOI: http://dx.doi.org/10.5089/9781498344876.007

ISBN: 9781498344876

Keywords: Bilateral surveillance, Developed countries, Emerging markets, Fund role, International trade, Low-income developing countries, Multilateral surveillance, Trade integration, Trade liberalization, Trade policy

This review follows the Board-endorsed recommendation by the IEO in 2009 to have an assessment of the Fund's work on trade every five years. In addition to reviewing past work, this paper discusses key issues going...

Review of the Role of Trade in the Work of the Fund

Review of the Role of Trade in the Work of the Fund »

Source: Review of the Role of Trade in the Work of the Fund

Volume/Issue: 2015/011

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2015

ISBN: 9781498344876

Keywords: Bilateral surveillance, Developed countries, Emerging markets, Fund role, International trade, Low-income developing countries, Multilateral surveillance, Trade integration, Trade liberalization, Trade policy

This review follows the Board-endorsed recommendation by the IEO in 2009 to have an assessment of the Fund's work on trade every five years. In addition to reviewing past work, this paper discusses key issues going...

Annex I. Medium-Term Economic Prospects in the MENAP and CCA Regions

Annex I. Medium-Term Economic Prospects in the MENAP and CCA Regions »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

Economic growth potential in the Middle East and Central Asia is slowing faster than in other emerging market and developing regions, dampening hopes of reducing persistent unemp...

Annex II. Public Infrastructure Investment in the MENAP and CCA Regions

Annex II. Public Infrastructure Investment in the MENAP and CCA Regions »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

Infrastructure investment is an important precondition for economic growth. The GCC countries already invest massively in infrastructure, but non-GCC oil exporters and MENA oil i...

Annex III. Access to Finance for Small and Medium-Sized Enterprises in the MENAP and CCA Regions

Annex III. Access to Finance for Small and Medium-Sized Enterprises in the MENAP and CCA Regions »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

The growth of small and medium-sized enterprises (SMEs) is critical to raising and diversifying economic growth and generating employment in the MENAP and CCA regions. However, d...

Annex IV. Measuring Inclusiveness in the MENAP and CCA Regions

Annex IV. Measuring Inclusiveness in the MENAP and CCA Regions »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

Poverty rates and income inequality have declined in the MENAP and CCA regions over the past two decades. The size of the middle class has remained significant in both regions bu...

Annex V. Economic Cooperation and Integration in the CCA

Annex V. Economic Cooperation and Integration in the CCA »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

Economic cooperation and integration, within the CCA and with other regions, can help CCA countries leverage their comparative advantages, gain access to larger and faster growing markets, and r...

Caucasus and Central Asia

Caucasus and Central Asia »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

Population, millions (2013) GDP per capita, U.S. dollars (2013) Sources: IMF, Regional Economic Outlook database; and Microso...

3. Caucasus and Central Asia: Increased Risks Highlight Need for Reform

3. Caucasus and Central Asia: Increased Risks Highlight Need for Reform »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

Economic growth in the Caucasus and Central Asia (CCA) is expected to decline from 6.6 percent in 2013 to about 5.5 percent in 2014–15. The forecast is ¾ percentage point weaker...

CCA Region Highlights

CCA Region Highlights »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

Economic activity in the Caucasus and Central Asia (CCA) region is weakening, mainly because of the near-term slowdown and rising regional tensions affecting Russia, a key trading partner and source of remit...

1. MENAP Oil Exporters: Increasing Diversification, Reducing Reliance on Oil-Funded Spending

1. MENAP Oil Exporters: Increasing Diversification, Reducing Reliance on Oil-Funded Spending »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

Intensified conflicts in Iraq and Libya have led to a downward revision in the 2014 growth projections for the MENAP oil exporters by ¾ of a percentage point compared with the Ma...

2. MENAP Oil Importers: Slow Recovery and Modest Prospects Call for Reform

2. MENAP Oil Importers: Slow Recovery and Modest Prospects Call for Reform »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

Continued sociopolitical and security tensions, high public debt, and deep-rooted structural impediments continue to dampen the economic impetus provided by improvements in the external environm...

MENAP Region Highlights

MENAP Region Highlights »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

Economic developments in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) continue to reflect the diversity of conditions prevailing across the region. Most high-income oil exporters, primari...

Middle East, North Africa, Afghanistan, and Pakistan

Middle East, North Africa, Afghanistan, and Pakistan »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

Population, millions (2013) GDP per capita, U.S. dollars (2013)...

Région MOANAP: Principaux Points

Région MOANAP: Principaux Points »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

La situation économique de la région MOANAP (Moyen-Orient, Afrique du Nord, Afghanistan et Pakistan) a continué d’évoluer au gré des diversités régionales. La plupart des pays exportateurs de pétrole à reven...

Regional Economic Outlook, October 2014, Middle East and Central Asia,

Regional Economic Outlook, October 2014, Middle East and Central Asia, »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

DOI: http://dx.doi.org/10.5089/9781498343732.086

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

This issue discusses economic developments in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP), which continue to reflect the diversity of conditions prevailing across the region. Most high-income o...

Back Matter

Back Matter »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

This issue discusses economic developments in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP), which continue to reflect the diversity of conditions prevailing across the region. Most high-income o...

Front Matter

Front Matter »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

This issue discusses economic developments in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP), which continue to reflect the diversity of conditions prevailing across the region. Most high-income o...

Statistical Appendix

Statistical Appendix »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

This publication features an abbreviated version of the Statistical Appendix. The full Statistical Appendix is available online at www.imf.org/external/pubs/ft/reo/2014/mcd/eng/pdf/mreost1014.xlsx....

World Economic Outlook1

World Economic Outlook1 »

Source: Regional Economic Outlook, October 2014, Middle East and Central Asia,

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 2014

ISBN: 9781498343732

Keywords: Cross country analysis, Economic forecasting, Economic cooperation, Economic growth, Economic conditions, Afghanistan, Economic integration, Middle East and Central Asia, North Africa, Oil exporting countries

Despite setbacks, an uneven global economic recovery continues. Largely due to weaker-than-expected global activity in the first half of 2014, the growth forecast for the world economy has been revised downw...

Food Prices and the Multiplier Effect of Trade Policy*

Food Prices and the Multiplier Effect of Trade Policy* »

Source: Food Prices and the Multiplier Effect of Trade Policy

Volume/Issue: 2014/182

Series: IMF Working Papers

Author(s): Paolo Giordani , Nadia Rocha , and Michele Ruta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 September 2014

ISBN: 9781498320382

Keywords: Loss aversion, Multiplier effect, Food crisis, domestic price, world price, global trade, import tariff, import subsidy, International Relations and International Political Economy: Other, Global Commodity Crises

This paper studies the relationship between trade policy and food prices. We show that, when individuals are loss averse, governments may use trade policy to shield the domestic economy from large food price shocks...

Food Prices and the Multiplier Effect of Trade Policy

Food Prices and the Multiplier Effect of Trade Policy »

Volume/Issue: 2014/182

Series: IMF Working Papers

Author(s): Paolo Giordani , Nadia Rocha , and Michele Ruta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 September 2014

DOI: http://dx.doi.org/10.5089/9781498320382.001

ISBN: 9781498320382

Keywords: Loss aversion, Multiplier effect, Food crisis, domestic price, world price, global trade, import tariff, import subsidy, International Relations and International Political Economy: Other, Global Commodity Crises

This paper studies the relationship between trade policy and food prices. We show that, when individuals are loss averse, governments may use trade policy to shield the domestic economy from large food price shocks...

Soaring of the Gulf Falcons
			: Diversification in the GCC Oil Exporters in Seven Propositions

Soaring of the Gulf Falcons : Diversification in the GCC Oil Exporters in Seven Propositions »

Volume/Issue: 2014/177

Series: IMF Working Papers

Author(s): Reda Cherif , and Fuad Hasanov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2014

DOI: http://dx.doi.org/10.5089/9781498310642.001

ISBN: 9781498310642

Keywords: oil countries, growth, oil, exporters, oil exporters, oil exports, Exhaustible Resources and Economic Development,

A key priority for the Gulf Cooperation Council (GCC) countries is to create a dynamic non-oil tradable sector to support sustainable growth. Since export diversification takes a long time, it has to start now. We...

Soaring of the Gulf Falcons

Soaring of the Gulf Falcons »

Source: Soaring of the Gulf Falcons : Diversification in the GCC Oil Exporters in Seven Propositions

Volume/Issue: 2014/177

Series: IMF Working Papers

Author(s): Reda Cherif , and Fuad Hasanov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2014

ISBN: 9781498310642

Keywords: oil countries, growth, oil, exporters, oil exporters, oil exports, Exhaustible Resources and Economic Development,

A key priority for the Gulf Cooperation Council (GCC) countries is to create a dynamic non-oil tradable sector to support sustainable growth. Since export diversification takes a long time, it has to start now. We...

After the Boom–Commodity Prices and Economic Growth in Latin America and the Caribbean

After the Boom–Commodity Prices and Economic Growth in Latin America and the Caribbean »

Source: After the Boom-Commodity Prices and Economic Growth in Latin America and the Caribbean

Volume/Issue: 2014/154

Series: IMF Working Papers

Author(s): Bertrand Gruss

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 August 2014

ISBN: 9781498363518

Keywords: Global VAR (GVAR), commodity prices, output growth, Latin America, commodity exporters, exporters, commodity exports, Time-Series Models, Open Economy Macroeconomics, Economic Growth of Open Economies

After skyrocketing over the past decade, commodity prices have remained stable or eased somewhat since mid-2011-and most projections suggest they are not likely to resume the upward trend observed in the last decad...

After the Boom-Commodity Prices and Economic Growth in Latin America and the Caribbean

After the Boom-Commodity Prices and Economic Growth in Latin America and the Caribbean »

Volume/Issue: 2014/154

Series: IMF Working Papers

Author(s): Bertrand Gruss

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 August 2014

DOI: http://dx.doi.org/10.5089/9781498363518.001

ISBN: 9781498363518

Keywords: Global VAR (GVAR), commodity prices, output growth, Latin America, commodity exporters, exporters, commodity exports, Time-Series Models, Open Economy Macroeconomics, Economic Growth of Open Economies

After skyrocketing over the past decade, commodity prices have remained stable or eased somewhat since mid-2011-and most projections suggest they are not likely to resume the upward trend observed in the last decad...

How Solid Is Economic Growth in the East African Community?

How Solid Is Economic Growth in the East African Community? »

Source: How Solid Is Economic Growth in the East African Community?

Volume/Issue: 2014/150

Series: IMF Working Papers

Author(s): Nikoloz Gigineishvili , Paolo Mauro , and Ke Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 August 2014

ISBN: 9781498374941

Keywords: Structural transformation, total exports, export products, growth rate, growth rates, Macroeconomic Analyses of Economic Development,

Is rapid economic growth experienced by the East African Community during the past decade built on solid foundations? To gain some clues, we use a variety of newly-collected and existing data sources to analyze the...

How Solid Is Economic Growth in the East African Community?

How Solid Is Economic Growth in the East African Community? »

Volume/Issue: 2014/150

Series: IMF Working Papers

Author(s): Nikoloz Gigineishvili , Paolo Mauro , and Ke Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 August 2014

DOI: http://dx.doi.org/10.5089/9781498374941.001

ISBN: 9781498374941

Keywords: Structural transformation, total exports, export products, growth rate, growth rates, Macroeconomic Analyses of Economic Development,

Is rapid economic growth experienced by the East African Community during the past decade built on solid foundations? To gain some clues, we use a variety of newly-collected and existing data sources to analyze the...

2014 Triennial Surveillance Review - External Study - Risks and Spillovers

2014 Triennial Surveillance Review - External Study - Risks and Spillovers »

Volume/Issue: 2014/048

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2014

DOI: http://dx.doi.org/10.5089/9781498342926.007

ISBN: 9781498342926

Keywords: Bilateral surveillance, Financial risk, Macroprudential Policy, Monetary policy, Multilateral surveillance, Spillovers, Surveillance, Asset prices, Assets, Balance sheets

...

2014 Triennial Surveillance Review - External Study - Risks and Spillovers

2014 Triennial Surveillance Review - External Study - Risks and Spillovers »

Source: 2014 Triennial Surveillance Review - External Study - Risks and Spillovers

Volume/Issue: 2014/048

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2014

ISBN: 9781498342926

Keywords: Bilateral surveillance, Financial risk, Macroprudential Policy, Monetary policy, Multilateral surveillance, Spillovers, Surveillance, Asset prices, Assets, Balance sheets

...

Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments

Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments »

Volume/Issue: 2014/130

Series: IMF Working Papers

Author(s): Thierry Tressel , and Shengzu Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 July 2014

DOI: http://dx.doi.org/10.5089/9781498334426.001

ISBN: 9781498334426

Keywords: Rebalancing, Imbalances, Euro Area, export performance, export growth, reer, debtor countries, General, Country and Industry Studies of Trade, Comparative Analysis of Economic Systems

The paper examines progress with the external rebalancing of euro area deficit countries. Relative prices are adjusting at different pace across countries and with different compositions of wage cuts and labor shed...

Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments1

Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments1 »

Source: Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments

Volume/Issue: 2014/130

Series: IMF Working Papers

Author(s): Thierry Tressel , and Shengzu Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 July 2014

ISBN: 9781498334426

Keywords: Rebalancing, Imbalances, Euro Area, export performance, export growth, reer, debtor countries, General, Country and Industry Studies of Trade, Comparative Analysis of Economic Systems

The paper examines progress with the external rebalancing of euro area deficit countries. Relative prices are adjusting at different pace across countries and with different compositions of wage cuts and labor shed...

European Productivity, Innovation and Competitiveness

European Productivity, Innovation and Competitiveness »

Source: European Productivity, Innovation and Competitiveness : The Case of Italy

Volume/Issue: 2014/79

Series: IMF Working Papers

Author(s): Andrew Tiffin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2014

ISBN: 9781484379868

Keywords: competitiveness, shift share analysis, CMSA, export growth, export performance, exporters, exporter, Country and Industry Studies of Trade, Open Economy Macroeconomics, General

In Italy, price-based competitiveness measures are not always an accurate predictor of trade outcomes. This paper offers a more comprehensive assessment of Italian competitiveness, focusing on the role of innovatio...

Export Spillovers from Global Shocks for the Middle East and Central Asia

Export Spillovers from Global Shocks for the Middle East and Central Asia »

Source: Export Spillovers from Global Shocks for the Middle East and Central Asia

Volume/Issue: 2014/80

Series: IMF Working Papers

Author(s): Alberto Behar , and Jaime Espinosa-Bowen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2014

ISBN: 9781484380796

Keywords: Gravity model, Caucasus, oil exports, oil exporters, exporters, services exports, exporter, Trade Forecasting and Simulation, International Business Cycles,

This paper quantifies the effect of realized and potential global growth disappointments on export volumes from the Middle East, North Africa, the Caucasus, and Central Asia. Estimates of export elasticities with r...

European Productivity, Innovation and Competitiveness
			: The Case of Italy

European Productivity, Innovation and Competitiveness : The Case of Italy »

Volume/Issue: 2014/79

Series: IMF Working Papers

Author(s): Andrew Tiffin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2014

DOI: http://dx.doi.org/10.5089/9781484379868.001

ISBN: 9781484379868

Keywords: competitiveness, shift share analysis, CMSA, export growth, export performance, exporters, exporter, Country and Industry Studies of Trade, Open Economy Macroeconomics, General

In Italy, price-based competitiveness measures are not always an accurate predictor of trade outcomes. This paper offers a more comprehensive assessment of Italian competitiveness, focusing on the role of innovatio...

Export Spillovers from Global Shocks for the Middle East and Central Asia

Export Spillovers from Global Shocks for the Middle East and Central Asia »

Volume/Issue: 2014/80

Series: IMF Working Papers

Author(s): Alberto Behar , and Jaime Espinosa-Bowen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2014

DOI: http://dx.doi.org/10.5089/9781484380796.001

ISBN: 9781484380796

Keywords: Gravity model, Caucasus, oil exports, oil exporters, exporters, services exports, exporter, Trade Forecasting and Simulation, International Business Cycles,

This paper quantifies the effect of realized and potential global growth disappointments on export volumes from the Middle East, North Africa, the Caucasus, and Central Asia. Estimates of export elasticities with r...

Baltic Cluster Report: Staff Report for the 2014 Cluster Consultation

Baltic Cluster Report: Staff Report for the 2014 Cluster Consultation »

Source: Baltic Cluster Report : Staff Report for the 2014 Cluster Consultation

Volume/Issue: 2014/116

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2014

ISBN: 9781484377741

Keywords: structural unemployment, employment, export performance, labor market

This 2014 Cluster Consultation report examines common themes and challenges facing the three Baltic countries-Estonia, Latvia, and Lithuania. It identifies common features and common challenges, and discusses polic...

IMF Executive Board Discusses Baltic Cluster Report on the Republics of Estonia, Latvia, and Lithuania

IMF Executive Board Discusses Baltic Cluster Report on the Republics of Estonia, Latvia, and Lithuania »

Source: Baltic Cluster Report : Staff Report for the 2014 Cluster Consultation

Volume/Issue: 2014/116

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2014

ISBN: 9781484377741

Keywords: structural unemployment, employment, export performance, labor market

This 2014 Cluster Consultation report examines common themes and challenges facing the three Baltic countries-Estonia, Latvia, and Lithuania. It identifies common features and common challenges, and discusses polic...

Baltic Cluster Report
			: Staff Report for the 2014 Cluster Consultation

Baltic Cluster Report : Staff Report for the 2014 Cluster Consultation »

Volume/Issue: 2014/116

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2014

DOI: http://dx.doi.org/10.5089/9781484377741.002

ISBN: 9781484377741

Keywords: structural unemployment, employment, export performance, labor market

This 2014 Cluster Consultation report examines common themes and challenges facing the three Baltic countries-Estonia, Latvia, and Lithuania. It identifies common features and common challenges, and discusses polic...

Statement by Mr. Audun Groenn, Executive Director for the Baltic Countries, May 2, 2014

Statement by Mr. Audun Groenn, Executive Director for the Baltic Countries, May 2, 2014 »

Source: Baltic Cluster Report : Staff Report for the 2014 Cluster Consultation

Volume/Issue: 2014/116

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2014

ISBN: 9781484377741

Keywords: structural unemployment, employment, export performance, labor market

This 2014 Cluster Consultation report examines common themes and challenges facing the three Baltic countries-Estonia, Latvia, and Lithuania. It identifies common features and common challenges, and discusses polic...

4. After the Boom—Commodity Prices and Economic Growth in Latin America and the Caribbean

4. After the Boom—Commodity Prices and Economic Growth in Latin America and the Caribbean »

Source: Regional Economic Outlook, May 2014, Western Hemisphere

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2014

ISBN: 9781484360118

Keywords: bond yields, bond, fiscal policy, commodity prices, commodity exporters

This chapter takes another look at the commodity boom experienced by Latin America and the Caribbean (LAC) since the early 2000s and analyzes how the region will be affected by a more subdued ou...

5. Has Fiscal Policy Become More Countercyclical in Latin America?

5. Has Fiscal Policy Become More Countercyclical in Latin America? »

Source: Regional Economic Outlook, May 2014, Western Hemisphere

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2014

ISBN: 9781484360118

Keywords: bond yields, bond, fiscal policy, commodity prices, commodity exporters

For many decades, fiscal policy in Latin America has been, on average, procyclical. However, country-specific estimates for the cyclicality of fiscal policy are mostly insignificant, with only a...

2. Outlook and Policy Challenges for Latin America and the Caribbean

2. Outlook and Policy Challenges for Latin America and the Caribbean »

Source: Regional Economic Outlook, May 2014, Western Hemisphere

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2014

ISBN: 9781484360118

Keywords: bond yields, bond, fiscal policy, commodity prices, commodity exporters

Economic activity in Latin America and the Caribbean (LAC) is expected to remain relatively subdued in 2014. While the faster recovery of the advanced economies should strengthen external demand...

Regional Economic Outlook, May 2014, Western Hemisphere

Regional Economic Outlook, May 2014, Western Hemisphere »

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2014

DOI: http://dx.doi.org/10.5089/9781484360118.086

ISBN: 9781484360118

Keywords: bond yields, bond, fiscal policy, commodity prices, commodity exporters

The five Regional Economic Outlooks published biannually by the IMF cover Asia and Pacific, Europe, the Middle East and Central Asia, Sub-Saharan Africa, and the Western Hemisphere. In each volume, recent econo...

Back Matter

Back Matter »

Source: Regional Economic Outlook, May 2014, Western Hemisphere

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2014

ISBN: 9781484360118

Keywords: bond yields, bond, fiscal policy, commodity prices, commodity exporters

The five Regional Economic Outlooks published biannually by the IMF cover Asia and Pacific, Europe, the Middle East and Central Asia, Sub-Saharan Africa, and the Western Hemisphere. In each volume, recent econo...

Front Matter

Front Matter »

Source: Regional Economic Outlook, May 2014, Western Hemisphere

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2014

ISBN: 9781484360118

Keywords: bond yields, bond, fiscal policy, commodity prices, commodity exporters

The five Regional Economic Outlooks published biannually by the IMF cover Asia and Pacific, Europe, the Middle East and Central Asia, Sub-Saharan Africa, and the Western Hemisphere. In each volume, recent econo...

3. Taper Tantrum or Tedium: How Will the Normalization of U.S. Monetary Policy Affect Latin America and the Caribbean?

3. Taper Tantrum or Tedium: How Will the Normalization of U.S. Monetary Policy Affect Latin America and the Caribbean? »

Source: Regional Economic Outlook, May 2014, Western Hemisphere

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2014

ISBN: 9781484360118

Keywords: bond yields, bond, fiscal policy, commodity prices, commodity exporters

A stronger U.S. recovery will impart a positive impulse primarily to Mexico, Central America, and the Caribbean, whereas the anticipated normalization of U.S. monetary policy will affect all cou...

1. The United States, Canada, and the World: Outlook and Policy Challenges

1. The United States, Canada, and the World: Outlook and Policy Challenges »

Source: Regional Economic Outlook, May 2014, Western Hemisphere

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2014

ISBN: 9781484360118

Keywords: bond yields, bond, fiscal policy, commodity prices, commodity exporters

Global activity strengthened in the second half of 2013 and is expected to pick up further in 2014–15, on account of a faster recovery in the advanced economies. In contrast, the growth momentum...

Asia and Pacific
			: Small States Monitor, April 2014:  Volume 1, Issue 1

Asia and Pacific : Small States Monitor, April 2014: Volume 1, Issue 1 »

Series: Other Periodicals

Author(s): Shari Boyce , Sergei Dodzin , Xuefei Bai , Ezequiel Cabezon , Fazurin Jamaludin , Yiqun Wu , and Rosanne Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 April 2014

DOI: http://dx.doi.org/10.5089/9781475579611.029

ISBN: 9781475579611

Keywords: license, license fees, fiscal policy, commodity exporters, exporters

The work on the small states is an important component of the IMF's global policy agenda. Among the 36 member countries covered by the IMF Asia and Pacific Department (APD), 13 countries are developing small states...

Front Matter

Front Matter »

Source: Asia and Pacific : Small States Monitor, April 2014: Volume 1, Issue 1

Series: Other Periodicals

Author(s): Shari Boyce , Sergei Dodzin , Xuefei Bai , Ezequiel Cabezon , Fazurin Jamaludin , Yiqun Wu , and Rosanne Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 April 2014

ISBN: 9781475579611

Keywords: license, license fees, fiscal policy, commodity exporters, exporters

The work on the small states is an important component of the IMF's global policy agenda. Among the 36 member countries covered by the IMF Asia and Pacific Department (APD), 13 countries are developing small states...

Asia-Pacific Small States: Developments and Outlook

Asia-Pacific Small States: Developments and Outlook »

Source: Asia and Pacific : Small States Monitor, April 2014: Volume 1, Issue 1

Series: Other Periodicals

Author(s): Shari Boyce , Sergei Dodzin , Xuefei Bai , Ezequiel Cabezon , Fazurin Jamaludin , Yiqun Wu , and Rosanne Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 April 2014

ISBN: 9781475579611

Keywords: license, license fees, fiscal policy, commodity exporters, exporters

Growth and Inflation Average growth in the small states in the Asia and Pacific region remained weak (1 percent) in 2013 and underperformed that in other small states—2 percent. Howe...

Country Notes

Country Notes »

Source: Asia and Pacific : Small States Monitor, April 2014: Volume 1, Issue 1

Series: Other Periodicals

Author(s): Shari Boyce , Sergei Dodzin , Xuefei Bai , Ezequiel Cabezon , Fazurin Jamaludin , Yiqun Wu , and Rosanne Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 April 2014

ISBN: 9781475579611

Keywords: license, license fees, fiscal policy, commodity exporters, exporters

Marshall Islands Context: The Republic of the Marshall Islands (RMI) is going through a period of output fluctuations. The economy expanded in FY2012 by 3.2 percent,...