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Business and Economics > Public Finance

You are looking at 1 - 10 of 23 items for :

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Cover Departmental Papers
Opening Up in the Caucasus and Central Asia: Policy Frameworks to Support Regional and Global Integration
Mr. Peter J Kunzel
,
Phil De Imus
,
Mr. Edward R Gemayel
,
Risto Herrala
,
Mr. Alexei P Kireyev
, and
Farid Talishli
The Caucasus and Central Asia (CCA) countries are at an important juncture in their economic transition. Following significant economic progress during the 2000s, recent external shocks have revealed the underlying vulnerabilities of the current growth model. Lower commodity prices, weaker remittances, and slower growth in key trading partners reduced CCA growth, weakened external and fiscal balances, and raised public debt. the financial sector was also hit hard by large foreign exchange losses. while commodity prices have recovered somewhat since late 2014, to boost its economic potential, the region needs to find new growth drivers, diversify away from natural resources, remittances, and public spending, and generate much stronger private sector-led activity.
Keywords:
DPPP; DP; CCA country; capital account; CCA region; external shock; labor market; monetary policy; oil exporter; CCA commodity exporter; CCA oil importer; CCA banking sectors; CCA economy; Inflation targeting; Global; Central Asia and the Caucasus; Middle East; Central Asia
Cover World Economic Outlook, April 2017
World Economic Outlook, April 2017
Gaining Momentum?
International Monetary Fund. Research Dept.

Abstract

Global economic activity is picking up with a long-awaited cyclical recovery in investment, manufacturing, and trade, according to Chapter 1 of this World Economic Outlook. World growth is expected to rise from 3.1 percent in 2016 to 3.5 percent in 2017 and 3.6 percent in 2018. Stronger activity, expectations of more robust global demand, reduced deflationary pressures, and optimistic financial markets are all upside developments. But structural impediments to a stronger recovery and a balance of risks that remains tilted to the downside, especially over the medium term, remain important challenges. Chapter 2 examines how changes in external conditions may affect the pace of income convergence between advanced and emerging market and developing economies. Chapter 3 looks at the declining share of income that goes to labor, including the root causes and how the trend affects inequality. Overall, this report stresses the need for credible strategies in advanced economies and in those whose markets are emerging and developing to tackle a number of common challenges in an integrated global economy.

Keywords:
WEO; economy; emerging market; labor share; developing economy; commodity exporter; core inflation dynamics; market expectation; advanced economy; Labor share; Emerging and frontier financial markets; Commodity prices; Personal income; Global; Middle East; North Africa; Asia and Pacific; Caribbean; commodity price; income share; core inflation; commodity terms of trade; Inflation; Global value chains; Europe
Cover Finance & Development
Finance and Development, December 2016
International Working Group on External Debt Statistics
This issue of Finance & Development examines the good and bad sides of globalization. Sebastian Mallaby notes that after decades of increasing cross-border movements of capital, goods, and people, only migration continues apace. Capital flows have collapsed, and trade has stagnated. However, rather than a sign of retreat, trade and finance may be resetting to a more sustainable level consistent with continued globalization. IMF Chief Economist Maurice Obstfeld takes a closer look at trade. Ismaila Dieng profiles Leonard Wantchekon, a former activist who plans to train the next generation of African economists. Wantchekon, now a professor at Princeton University, is one of the few African economists teaching at a top US university. His research, which has received considerable attention from development economists, focuses on the political and historical roots of economic development in Africa.
Keywords:
FD; F&D; income; trade; gain; economy
Cover IMF Working Papers
Globalization and Corporate Taxation
Mr. Manmohan S. Kumar
and
Mr. Dennis P. Quinn
This paper analyzes the extent to which the degree of international economic integration, both financial and trade, affects corporate tax rates. It explores this issue in the context of strategic behavior by countries, taking into account other global and domestic political economy factors. Tax rates are analyzed using a unique tax dataset for advanced and developing economies extending over five decades. We report a number of novel results: there is no general negative relationship between financial globalization and corporate tax rates and revenues—results vary according to country grouping with OECD countries showing a positive relationship; the United States exhibits a “Stackelberg” type of leadership on other countries; trade integration is inversely correlated with tax rates; and public sentiment and ideology affect tax rates. The policy implications of these findings, particularly given budgetary pressures in the aftermath of the global crisis, are noted.
Keywords:
WP; tax rate; corporate tax tax rate; debt ratio; Corporate tax rates; Tax revenues; Globalization; Strategic behavior; OECD country; emerging market; financial market; capital share; diversified portfolio; account openness indicator; share data; government share; Corporate income tax; Corporate taxes; Personal income tax; Global
Cover Policy Papers
Globalization, Financial Markets, and Fiscal Policy
International Monetary Fund
This paper examines how fiscal policy can contribute to realizing the benefits of two important ongoing developments, globalization and financial deepening.
Keywords:
PP; fiscal policy response; market country; current account; fiscal policy spillover; economic activity; fiscal policy credibility; response to capital; aggregate demand; Capital inflows; Global; Central and Eastern Europe
Cover IMF Research Bulletin
IMF Research Bulletin, September 2007
Mr. Antonio Spilimbergo
IMF research summary on how globalization affects developing countries (by Prachi Mishra and Petia Topalova); country study on Croatia (by Athanasios Vamvakidis); listing of visiting scholars at the IMF during June 2007-January 2008; listing of contents of Vol. 54, Issue No. 3 of IMF Staff Papers; listing of recent IMF Working Papers; and listing of recent external publications by IMF staff members.
Keywords:
IRB; pricing growth-Indexed bond; Aid-Receiving Countries; Croatia; remittance; exchange rate fluctuation; emerging markets review; resource Economics; forthcoming publication; monetary policy implementation; Remittances; Migration; Wages; Trade liberalization; Sub-Saharan Africa; Caribbean; Central and Eastern Europe; Eastern Europe; Middle East; Europe; Global
Cover IMF Research Bulletin
IMF Research Bulletin, December 2006
Mr. Clinton R. Shiells
,
Mr. Antonio Spilimbergo
,
Mr. Vladimir Klyuev
, and
Raghuram Rajan
The IMF Research Bulletin, a quarterly publication, selectively summarizes research and analytical work done by various departments at the IMF and also provides a listing of research documents and other research-related activities, including conferences and seminars. The Bulletin is intended to serve as a summary guide to research done at the IMF on various topics, and to provide a better perspective on the analytical underpinnings of the IMF’s operational work.
Keywords:
IRB; GATT accession; Fund; corporate governance system; IMF data standards initiative; IMF Research bulletin; research conference; Trade policy; Comparative advantage; General Agreement on Tariffs and Trade; Global; Middle East; North Africa; Middle East and Central Asia; East Africa; Europe; Caribbean
Cover IMF Research Bulletin
IMF Research Bulletin, December 2005
International Monetary Fund. Research Dept.
The IMF Research Bulletin, a quarterly publication, selectively summarizes research and analytical work done by various departments at the IMF, and also provides a listing of research documents and other research-related activities, including conferences and seminars. The Bulletin is intended to serve as a summary guide to research done at the IMF on various topics, and to provide a better perspective on the analytical underpinnings of the IMF’s operational work.
Keywords:
IRB; price; housing price; remittance; remittance inflow; flows affect developing-country welfare; inflation process; a number of housing indicator; Housing prices; Remittances; Outward remittances; Housing; Global; Central America; Caribbean; Africa; East Asia
Cover IMF Survey
Calendario
International Monetary Fund. External Relations Dept.
La edición en Internet del Boletín del FMI, que se actualiza varias veces a la semana, contiene numerosos artículos sobre temas de actualidad en el ámbito de las políticas y la economía. Consulte las últimas investigaciones del FMI, lea entrevistas y escuche podcasts de los principales economistas del FMI sobre importantes temas relacionados con la economía mundial. www.imf.org/external/pubs/ft/survey/so/home.aspx
Keywords:
SV; IMF Executive Board; SDR interest rate; economy; economy rebound
Cover IMF Survey
Calendrier
International Monetary Fund. External Relations Dept.
L’édition web du Bulletin du FMI est mise à jour plusieurs fois par semaine et contient de nombreux articles sur des questions de politique générale et de politique économique d'actualité. Accédez aux dernières recherches du FMI, lisez des interviews et écoutez des podcasts proposés par les principaux économistes du FMI sur des questions importantes de l'économie mondiale. www.imf.org/external/pubs/ft/survey/so/home.aspx
Keywords:
SV; IMF Executive Board; SDR interest rate; economy; economy rebound