Back Matter
  • 1, International Monetary Fund

V. References


The authors are thankful to Antonio Spilimbergo, Aasim M. Husain, and Marcos de Carvalho Chamon for their comments and suggestions; to Henrique Barbosa and Yuebo Li for research assistance; to Cristina Barbosa and Heidi Canelas for administrative support; and to Davide Arnold for incentivizing a timely completion of this paper.


GDP is projected using IMF’s WEO projections to 2024. Between 2024 and 2030, the projection assumes that GDP increases at the growth rate assumed for 2024 in WEO.


GDP per capita between US$6,000 and US$15,000 in 2016 is used to map the middle-income country group and associated benchmarks.


High-performing countries are those with an SDG4 education index above 82, to allow for a representative sample size of high performing middle-income countries.


The assumed enrollment rates are consistent with target rates of 50 percent for preprimary and tertiary education, and 100 percent for primary and secondary education.


The ratio of non-doctor to doctor wage is assumed to be 0.5; shares of capital and other current spending to total spending are imputed using the World Bank income group averages.


High-performing countries are those with an SDG3 health index above 78 in the middle-income country group.

Doing More with Less: How Can Brazil Foster Development While Pursuing Fiscal Consolidation?
Author: Valentina Flamini and Mauricio Soto