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Business and Economics > Budgeting

You are looking at 1 - 10 of 27 items for :

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Cover IMF Working Papers
When Do Politicians Appeal Broadly? The Economic Consequences of Electoral Rules in Brazil
Moya Chin
Electoral rules determine how voters' preferences are aggregated and translated into political representation, and their design can lead to the election of representatives who represent broader or narrower constituencies. Relying on a regression discontinuity design, I contrast single- and two-round elections in Brazilian municipal races. Two-round elections use two rounds of voting to elect a winner, ensuring that the eventual winner obtains at least 50% of the vote. Theoretically, this can provide incentives for candidates to secure a broader base of support. Consistent with this, I show that in two-round elections, candidates represent a more geographically diverse group of voters, public schools have more resources, and there is less variation in resources across public schools. Effects appear to be driven by strategic responses of candidates, rather than differential entry into races. These results suggest that two-round elections can lead candidates to secure broader bases of support and to distribute public goods more broadly.
Keywords:
Electoral institutions; voting theory; political responsiveness; political favoritism; education resources; candidate maximization problem; two-round election; voter threshold; appendix C. theory appendix; concentration of voter; swingable voter; Infrastructure; Income; Budget planning and preparation
Cover IMF Working Papers
Fiscal Rules to Tame the Political Budget Cycle: Evidence from Italian Municipalities
Lorenzo Forni
and
Andrea Bonfatti
The paper provides evidence that fiscal rules can limit the political budget cycle. It focuses on the application of the Italian fiscal rule at the sub-national level over the period 2004-2006 and shows that: 1) municipalities are subject to political budget cycles in capital spending; 2) the Italian subnational fiscal rule introduced in 1999 has been enforced by the central government; 3) municipalities subject to the fiscal rule show more limited political budget cycles than municipalities not subject to the rule. In order to identify the effect, we rely on the fact that the domestic fiscal rule does not apply to municipalities below 5,000 inhabitants. We find that the political budget cycle increases real capital spending by about 35 percent on average in the years prior to municipal elections and that the sub-national fiscal rule reduces these figures by about two thirds.
Keywords:
WP; municipality; analysis; capital; fiscal rules; local government finance; regression discontinuity; budget cycle; capital spending; DSP rule; regression discontinuity analysis; baseline result; DSP threshold; Capital spending; Budget planning and preparation; Current spending
Cover IMF Staff Country Reports
Chad: Poverty Reduction Strategy Paper-Joint Staff Advisory Note on the 2013 Monitoring Report of the National Development Plan 2013-15
International Monetary Fund. African Dept.
This Joint Staff Advisory Note discusses progress in implementing Chad’s National Development Plan (NDP) in 2013. The NDP was overall satisfactorily implemented in 2013. By end 2013, about two-thirds of strategic indicators and one-half of intermediary indicators retained in the results framework did record progress in line with retained targets. In addition, the contribution of the 2013 national budget to the NDP implementation was close to initial plans, reflecting structural progress in terms of budget execution. The adoption of a robust Results Framework also allowed the authorities to effectively monitor NDP implementation, in terms of inputs, outputs, and outcomes.
Keywords:
ISCR; CR; NDP implementation; priority action plans; The 2013; NDP objective; NDP pillar; Chadian authorities; financing needs; equity participation; NDP's priority action plans; Poverty reduction strategy; Budget planning and preparation
Cover IMF Working Papers
Fragmentation and Vertical Fiscal Imbalances Lessons from Moldova
Mr. Serhan Cevik
Using a novel municipality-level panel dataset, this paper investigates the empirical characteristics of vertical fiscal imbalances (VFIs) in Moldova over the period 2005–13. The results show that the extent of variation in VFIs across 898 municipalities can be explained by the level of per capita income, fiscal capacity, and demographic characteristics, as well as the central government’s fiscal behavior that reflects fiscal constraints and policy preferences at the national level. Political affiliation does not appear to be a significant factor, and the results are inconclusive in terms of direction. While some model specifications show larger VFIs when the mayor of a municipality belongs to the same party ruling the central government, other models suggest better coordination and thus lower VFIs. Altogether, these findings underscore the need for well-coordinated reforms to create economies of scale, enhance revenue collection, and improve the composition of spending at the subnational level.
Keywords:
WP; central government; revenue; vertical fiscal imbalances; Vertical fiscal imbalance; fiscal decentralization; subnational governments; budget balance; finance statistics; fiscal policy stance; revenue effort; effort variable; dependency ratio; restructuring revenue administration; mean value; Fiscal federalism; Budget planning and preparation; Global
Cover IMF Staff Country Reports
Kyrgyz Republic: Medium-Term Development Program: Poverty Reduction Strategy Paper
International Monetary Fund
This paper focuses on the Medium-Term Development Program for the Kyrgyz Republic. The aim of this program is to put the economy of the country into a sustainable vector of development and improve the budget status to prevent social effects, increase living standard, and reduce poverty in the country. Implementation of the reforms anticipated by the Program will help to reduce the State budget deficit, enhance the fight against corruption, improve living standards, and decrease social tension in the society.
Keywords:
ISCR; CR; budget deficit; civil society; poverty level; customs union; development program; public-private partnership; living standard; economic development; natural resources; public finance; judicial system; Budget planning and preparation; Central Asia
Cover IMF Staff Country Reports
Kyrgyz Republic: Medium-Term Development Program: Poverty Reduction Strategy Paper
International Monetary Fund
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.
Keywords:
ISCR; CR; budget deficit; civil society; poverty level; customs union; development program; public-private partnership
Cover IMF Staff Country Reports
Togo: Poverty Reduction Strategy Paper-Progress Report
International Monetary Fund
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.
Keywords:
ISCR; CR; financial support; private sector; regulatory authority; natural resources; public expenditure; real GDP; Budget planning and preparation; Global; West Africa; Africa
Cover IMF Staff Country Reports
Ghana: Poverty Reduction Strategy Paper: 2006 Annual Progress Report
International Monetary Fund
This paper presents key findings of the assessment of progress made in the implementation of policies outlined in the Growth and Poverty Reduction Strategy (GPRS II, 2006–2009) for Ghana. The paper provides an assessment on programs such as the Multi Donor Budget Support, the linkage between the 2006 Annual Budget and the GPRS II, performance toward the attainment of the Millennium Development Goals, and the African Peer Review Mechanism. The paper also discusses macroeconomic performance and economic governance in Ghana.
Keywords:
ISCR; CR; private sector; GPRS II; fiscal policy; inflation rate; car rental; Budget planning and preparation; West Africa; Africa; Global
Cover IMF Working Papers
Targeting Social Transfers to the Poor in Mexico
Mr. David Coady
and
Susan Parker
Mexico’s main social support program, Oportunidades, combines two methods to target cash to poor households: an initial self-selection by households who acquire knowledge about the program and apply for benefits, followed by an administrative determination of eligibility based on a means test. Self-selection improves targeting by excluding high-income households, while administrative targeting does so mainly by excluding middle-income households. The two methods are complementary: expanding program knowledge across households substantially increases applications from non-poor households, thus reinforcing the importance of administrative targeting. The paper shows that targeting can be further improved through redesigning the means test and differentiating transfers according to demographic characteristics.
Keywords:
WP; participation rate; transfer share; income distribution; program budget; random sample; share of transfer; Targeting; self selection; administrative selection; Mexico; Oportunidades; social welfare; coverage; leakage; population share; means testing; Personal income; Budget planning and preparation; Household consumption
Cover IMF Staff Country Reports
Republic of Madagascar: Poverty Reduction Strategy Paper: Annual Progress Report: Joint Staff Advisory Note
International Monetary Fund
This Joint Staff Advisory Note provides feedback from the World Bank and IMF staff on the first and second progress reports on the Madagascar Action Plan (MAP)—the poverty reduction and growth strategy for 2007–12. Progress on governance has been reported with improvements in the functioning of the national anticorruption agency (BIANCO), the establishment of a financial intelligence unit, and improved national security indicators. To further improve transparency, the government will need to make an effort to secure property rights through the judicial system or alternative conflict-resolution mechanisms.
Keywords:
ISCR; CR; monetary policy; fiscal policy; government; development partner; evolution; utility company; sterilization operation; private sector development; sound fiscal policy; Poverty reduction strategy; Budget planning and preparation; Africa