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International Monetary Fund

various causes, 2015 and 2030 Source: PBL 2009a. Note: Because being underweight is usually not a direct cause of a child’s death (although it increases the risks of dying from pneumonia, malaria, and diarrhea), it is reported separately. a. The accelerated progress scenario for 2015 achieves the MDG targets on food, water, malaria, and energy (GISMO model, PBL 2008). a . PBL 2009b. b . PBL 2011. c . PBL 2009b. Country diversity generally softens the gloomy global picture . All these statistics are remarkable, revealing progress that is much more

Luis Serven and Andrés Solimano

for private investment to thrive. Hence, differences in the degree of macroeconomic stability during adjustment explain considerable cross-country diversity found in the response of private investment to liberalization programs. In Chile, for example, private investment reacted quite forcefully during the late 1970s and late 1980s. The response was more moderate in Mexico in the late 1980s, and in Bolivia, private investment failed to respond to the stabilization and liberalization programs of the mid-1980s. What is the effect of the external debt burden and

Mr. Leonardo Bartolini, Mr. Steven A. Symansky, and Assaf Razin

bypass the complexity and cross-country diversity of actual tax laws. 2/ See, for instance, Masson, Symansky and Meredith (1990) , and the survey by Blanchard and Fischer (1989, Ch. 9) . 3/ Throughout the rest of the paper, lower case letters denote the logarithm of the corresponding upper case letters, and greek characters denote exogenous parameters. 1/ We did not place a priori restrictions on whether the wage term on the left-hand side of (2) should include or exclude labor income taxes. Presumably, firms bargain in terms of gross labor costs

International Monetary Fund. Western Hemisphere Dept.

, notably skilled and unskilled labor. Within LAC, however, there is less cross-country diversity of endowments and no clear hub. Brazil does have some important trading relationships with LAC countries, but it is far from being a hub, while Mexico is more closely integrated with the U.S. than with the rest of LAC (IMF, 2015). Levy-Yeyati (2012) also highlights the problem of LAC’s largest economies being “reluctant hegemons” in that they have less intense trade links with the rest of the region than do the relatively smaller LAC economies. Thus they only have weak

Mr. Erwin H Tiongson, Mr. Hamid R Davoodi, and Sawitree S. Asawanuchit

sources, which includes country case studies as well as methodological papers on BIA and the underlying data, is available from the authors upon request. 27 See the appendix for details on assumptions underlying the comparison in Table 1 . 28 In fairness, it should be pointed out that in comparison to education-sector analysis, inputs for the health sector have multiple uses, which make it much harder to demarcate one category of health spending from another. In addition, cross-country diversity in institutional arrangements for health service delivery

Mr. Marcello M. Estevão

limited number of observations (usually around 20) with countries as individual units and no time variation in the data. 6 Since a few institutional controls cannot be expected to account for all cross-country diversity unrelated to ALMPs, this method is likely to wrongly attribute the influence of some unobserved institutional features on the unemployment rate to ALMP spending. Subsequently, the work conducted during the second half of the 1990’s take advantage of the extended availability of data to use panel methods, therefore improving the identification of

International Monetary Fund

membership became more heterogeneous over time, the Fund has become increasingly unlikely to provide financing on a sufficient scale to meet the demand of higher-risk members ( Dealing with Country Diversity: Challenges for the IMF Credit Union Model , by G. Irwin, A. Penalver, C. Salmon, and A. Taylor, Bank of England Working Paper No. 349, May 2008.) 5 See: Guidelines on Conditionality , Decision No. 12864-(02/102), September 25, 2002, and the recent Implementation Plan in Response to Board-Endorsed Recommendations Arising From the Independent Evaluation Office

International Monetary Fund
This paper raises and discusses issues related to how the Fund provides financial assistance to its members. It is part of the strategic review to ensure the Fund remains relevant and effective. The objective is not to increase Fund lending, but to make sure the Fund has the right instruments and policies to help all of its members—with appropriate protection of Fund resources—as they integrate into a world of growing and increasingly complex cross-border flows. Other institutions (including major central banks and the World Bank) also are retooling their lending instruments and in the process grappling with similar issues. The paper offers a high-level view of the issues and does not make specific policy proposals. Policy proposals will be presented in follow-up papers, some of which are planned for Board discussion later in 2008.
Mr. Koshy Mathai, Mr. Christoph Duenwald, Ms. Anastasia Guscina, Rayah Al-Farah, Mr. Hatim Bukhari, Mr. Atif Chaudry, Moataz El-Said, Fozan Fareed, Mrs. Kerstin Gerling, Nghia-Piotr Le, Mr. Franto Ricka, Mr. Cesar Serra, Tetyana Sydorenko, Mr. Sébastien Walker, and Mr. Mohammed Zaher

Central Asia (MCD) region includes low-income, emerging market, and high-income economies, it is important to ensure proper benchmarking across global peers. 1 As income levels are an important determinant of social spending levels, we compare low-income countries in MENAP with other low-income countries (LICs), emerging markets in MENAP (EM-MENAP) as well as the CCA with other emerging markets (EMs), and GCC countries with advanced economies (AEs). While there is significant cross-country diversity, social spending in the region is generally lower than in other

International Monetary Fund

of the curriculum and the exposure of course participants to the Fund? Is there a concern that co-payments will shift the balance of course participants away from government ministries and agencies and more toward central banks? Could differentiated co-payments reduce country diversity with detrimental effects for the training program? Given the relatively high cost of high-level seminars, is it reasonable to require that participant costs for these seminars be covered by donors or the agencies sending participants to the seminar? Is the planned increase in