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Asia and Pacific > Thailand

You are looking at 1 - 8 of 8 items for :

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Cover IMF Staff Country Reports
Indonesia: Selected Issues
International Monetary Fund. Asia and Pacific Dept
This Selected Issues paper provides an overview of the exchange rate and trade dynamics in Indonesia. Using data on monthly export and import price and volume at the sectoral level, the paper estimates pass-through effects of exchange rate changes to trade price and volume. Results indicate adjustment frictions that depend on the source of the exchange rate fluctuation and the degree of integration in global value chains. Overall, combining price and volume effects, we find that 10 percent depreciation in the exchange rate is associated with a rise in the goods net-exports of up to 1.6 percent of GDP. Results indicate that there is considerable asymmetry and sectoral heterogeneity in the pass-throughs of exchange rate on import and export prices. Import prices adjust well to exchange rate fluctuations with the effects being stronger for appreciation episodes. The price sensitivity of export prices to exchange rate shocks is generally lower than of imports and concentrated over shorter horizons and during episodes of depreciation. The price and quantity results imply that exchange rate changes can have significant effects on the current account, by affecting movements in net-exports of goods.
Keywords:
ISCR; CR; rate; price; market; pass-through; monetary policy report; market rate; monetary policy press releases; monetary policy decision; pass-through coefficient; upside risk; Exchange rates; Corporate income tax; Tax administration core functions; Value-added tax; Medium term revenue strategy; Global
Cover IMF Staff Country Reports
Malaysia: Staff Report for the 2013 Article IV Consultation
International Monetary Fund. Asia and Pacific Dept
The IMF staff report for the 2013 Article IV Consultation focuses on Malaysia’s economic developments and policies. The IMF report discusses that continued growth in domestic demand, especially investment, and a pickup in external demand should help maintain robust growth going forward despite the fiscal tightening. Amidst concerns about Malaysia’s public finances and sharp narrowing of the external surplus in spring–summer of 2013, authorities have taken timely action to secure fiscal sustainability and assure markets. It suggests that authorities’ decisions in 2013 are close to a fiscal policy breakthrough aiming to contain federal debt and related fiscal risks.
Keywords:
ISCR; CR; policy flexibility; policy; regulation; public finance; policy issue; market distortion; household debt; exchange arrangement; data standard; policy stance; Inflation; Value-added tax; Fiscal consolidation; Global; Asia and Pacific
Cover IMF Staff Country Reports
Indonesia: Selected Issues
International Monetary Fund
This study estimated Indonesia’s potential growth rate and examined its underlying determinants. Implementing a comprehensive program to address key influencing issues can improve the effectiveness of monetary policy, increase financial stability, and support capital market development. This paper also reviews the level and structure of tax revenues in Indonesia, estimates tax effort and tax efficiency, and discusses potential areas of revenue mobilization. Indonesia’s financial linkages to the rest of the world have become stronger and more diversified, which increases its exposure to systemic risks.
Keywords:
ISCR; CR; rate; Indonesia; market; revenue; GDP; BI rate; export destination; growth prospect; statistics Indonesia; investment climate; net foreign liabilities; Money markets; Corporate income tax; Value-added tax; Income tax systems; Global; Asia and Pacific; East Asia
Cover IMF Working Papers
Tax Administration Reform and Fiscal Adjustment: The Case of Indonesia (2001-07)
Mr. John D Brondolo
,
Frank Bosch
,
Mr. Eric Le Borgne
, and
Mr. Carlos Silvani
Tax administration reforms can play an important role in fiscal adjustment. This role is examined by reviewing Indonesia's tax reform cum fiscal adjustment experience since 2001. The paper describes Indonesia's fiscal adjustment strategy, its tax administration reforms, and assesses the impact of these reforms on fiscal adjustment. Evidence suggests tax administration improvements had a strong positive impact on the tax yield and a positive effect on the investment climate. Lessons are presented for designing tax administration reforms within the context of a fiscal adjustment program and reform priorities are identified for Indonesia's ongoing efforts to strengthen tax administration.
Keywords:
WP; administration reform; tax administration; reform strategy; sales tax
Cover IMF Staff Country Reports
Philippines: Staff Report for the 2005 Article IV Consultation and Post-Program Monitoring Discussions
International Monetary Fund
The staff report for the 2005 Article IV Consultation on the Philippines highlights managing short-term vulnerabilities and higher investment and growth. Power generation tariffs have been raised to substantially cut the losses of the National Power Corporation (NPC). A risk to the near-term outlook for the Philippine economy is that political events, such as possible constitutional change, serve to sideline economic reforms. Executive Directors agreed that rebalancing the composition of public expenditure, with reduced current outlays providing space for capital and social spending, should form an integral part of the fiscal consolidation.
Keywords:
ISCR; CR; GDP; VAT reform package; deficit; reform; government; reform package; privatization receipt; authorities definition; US$ billion; nonfinancial public sector revenue net; Public sector; Value-added tax; Privatization; Global
Cover IMF Working Papers
Increasing Public Sector Revenue in the Philippines: Equity and Efficiency Considerations
Mr. Kevin Fletcher
Public sector revenue has declined markedly in the Philippines over the past seven years. Most observers of the Philippine economy agree that rebuilding public sector revenue will be critical to reducing deficits and ensuring public sector debt sustainability. This paper reviews several of the main possibilities for raising public sector revenue, including increases in excise, VAT, and electricity rates. It argues that most of these proposals would raise revenue in a relatively efficient manner. Using household-level expenditure data, it also finds that most of these measures would be progressive, especially if they allow the government to avoid cuts in pro-poor spending.
Keywords:
WP; VAT; excise; rate; tax rate; VAT rate
Cover IMF Staff Papers
IMF Staff Papers, Volume 49, No. 1
Mr. Robert P Flood
This paper presents details of a symposium on forecasting performance I organized under the auspices of the IMF Staff Papers. The assumption that the forecaster's goal is to do as well as possible in predicting the actual outcome is sometimes questionable. ln the context of private sector forecasts, this is because the incentives for forecasters may induce them to herd rather than to reveal their true forecasts. Public sector forecasts may also be distorted, although for different reasons. Forecasts associated with IMF programs, for example, are often the result of negotiations between the IMF staff and the country authorities and are perhaps more accurately viewed as goals, or targets, rather than pure forecasts. The standard theory of time series forecasting involves a variety of components including the choice of an information set, the choice of a cost function, and the evaluation of forecasts in terms of the average costs of the forecast errors. It is generally acknowledged that by including more relevant information in the information set, one should be able to produce better forecasts.
Keywords:
SP; standard deviation; IMF projection; program projection; private sector forecast; consumption tax; group mean; panel money demand estimation; Real exchange rates; Purchasing power parity; Consumption taxes; Labor taxes; Exchange rates; East Asia; Eastern Europe; Europe; Global; Baltics
Cover IMF Staff Country Reports
Cambodia: Selected Issues
International Monetary Fund
This paper discusses major macroeconomic issues confronting Cambodia. The report also discusses recent growth performance of the economy and presents recently updated national accounts estimates. Revenue mobilization remains a key objective since, despite recent significant improvements, revenue performance is still low by international standards. The costs and benefits of a high degree of dollarization are briefly discussed. Export performance and trade policy are also reviewed. Maintaining export growth will depend on maintaining Cambodia's commitment to an open trade and exchange system.
Keywords:
ISCR; CR; Cambodia; government; rate; export; chapter III; garment export; revenue performance; chapter IV; garment industry; rice production; Agroindustries; Exports; Currencies; Europe; Sub-Saharan Africa; Global; Asia and Pacific; East Asia; Western Hemisphere