Subnational Fiscal Sustainability Analysis

Author : Elena Ianchovichina
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4./5 ( download)

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Download or read book Subnational Fiscal Sustainability Analysis written by Elena Ianchovichina and published by World Bank Publications. This book was released on 2006 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In the late 1990s the Indian state of Tamil Nadu experienced an unprecedented fiscal deterioration, which was part of the widespread fiscal deterioration in Indian states. This deterioration was troubling because current expenditure outgrew total revenue, leaving little fiscal space for infrastructure spending. The paper presents a framework for subnational fiscal sustainability analysis and applies it to Tamil Nadu where subsequent fiscal adjustment has been ambitious and politically challenging, but has promised to put state finance on a sustainable path and create fiscal space for infrastructure investment. The paper emphasizes the differences between fiscal sustainability analysis at the national and subnational levels, attempts to take into account uncertainty, and discusses the key components of the state's fiscal accounts and how they respond to reforms and shocks. Risks to Tamil Nadu's fiscal outlook include interest rate shocks, pressures on the primary balance, and contingent liabilities. Though the state's efforts to remove constraints to economic growth, minimize recurrent expenditures and maximize its revenue potential will be critical for fiscal sustainability, national policies feature prominently in subnational fiscal adjustment. Tamil Nadu's quest for fiscal sustainability is relevant for other countries. Decentralization has given subnational governments in developing countries significant spending and taxation responsibilities, and the capacity to incur debt. The fiscal stress of the Indian states echoed the fiscal crises of subnational governments in several other major emerging economies. "--World Bank web site.

Author : Elena Ianchovichina
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.74/5 ( download)

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Download or read book Subnational Fiscal Sustainability Analysis written by Elena Ianchovichina and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In the late 1990s the Indian state of Tamil Nadu experienced an unprecedented fiscal deterioration, which was part of the widespread fiscal deterioration in Indian states. This deterioration was troubling because current expenditure outgrew total revenue, leaving little fiscal space for infrastructure spending. The paper presents a framework for subnational fiscal sustainability analysis and applies it to Tamil Nadu where subsequent fiscal adjustment has been ambitious and politically challenging, but has promised to put state finance on a sustainable path and create fiscal space for infrastructure investment. The paper emphasizes the differences between fiscal sustainability analysis at the national and subnational levels, attempts to take into account uncertainty, and discusses the key components of the state's fiscal accounts and how they respond to reforms and shocks. Risks to Tamil Nadu's fiscal outlook include interest rate shocks, pressures on the primary balance, and contingent liabilities. Though the state's efforts to remove constraints to economic growth, minimize recurrent expenditures and maximize its revenue potential will be critical for fiscal sustainability, national policies feature prominently in subnational fiscal adjustment. Tamil Nadu's quest for fiscal sustainability is relevant for other countries. Decentralization has given subnational governments in developing countries significant spending and taxation responsibilities, and the capacity to incur debt. The fiscal stress of the Indian states echoed the fiscal crises of subnational governments in several other major emerging economies.

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498335160
Total Pages : 73 pages
Book Rating : 4.64/5 ( download)

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Download or read book Fiscal Rules—Anchoring Expectations for Sustainable Public Finances written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2009-12-11 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term. This paper assesses the usefulness of fiscal rules in supporting fiscal consolidation, discusses the design and implementation of rules based on a new data base spanning the whole Fund membership, and explores the fiscal framework that could be adopted as countries emerge from the crisis.

Author : Craig Burnside
Publisher : World Bank Publications
ISBN 13 : 9780821358740
Total Pages : 312 pages
Book Rating : 4.4X/5 ( download)

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Download or read book Fiscal Sustainability in Theory and Practice written by Craig Burnside and published by World Bank Publications. This book was released on 2005 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Topics discussed in this publication include: an introduction to theoretical and practical aspects of fiscal sustainability; theoretical prerequisites for fiscal sustainability analysis; debt indicators in the measurement of vulnerability; cyclical adjustment of budget surplus; pro-cyclical fiscal policy using Mexico's fiscal accounts as a case study; fiscal rules and the experience of Chile; currency crises and models for deal with financing costs.

Author : Jacob John
Publisher : Cambridge Scholars Publishing
ISBN 13 : 1443815268
Total Pages : 201 pages
Book Rating : 4.60/5 ( download)

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Download or read book Sub-national Fiscal Sustainability in a Globalised Setting written by Jacob John and published by Cambridge Scholars Publishing. This book was released on 2009-10-02 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of papers addresses the issues of fiscal federalism, centre-state relations, fiscal decentralization, unconventional methods of resource mobilization for filling the huge gap in infrastructure financing and strategies for achieving fiscal sustainability at the national and sub-national level in the globalized setting. Though a number of articles are in the context of Kerala, the overarching fiscal problems of sub-national governments are common to all. It contains detailed and in-depth analysis by eminent scholars and seasoned economic administrators, based on empirical and theoretical studies. Six decades of federal fiscal arrangement in India has resulted in centralization of fiscal powers, increase in regional imbalances and increased vertical and horizontal imbalances. Central and state government finances came under great stress during the last decade, and the situation continued in the early years of the current decade on account of a variety of reasons. The five-year period since 2003-04, however, saw significant fiscal correction and consolidation at the central and state levels. The still-unfolding implications of the global financial and economic crisis on the union and state finances are going to be severe. Both the centre and the states may take years before the targets of deficits set for March 2009 under fiscal responsibility legislations could be realized.

Author : Mr.Evan Tanner
Publisher : International Monetary Fund
ISBN 13 : 1484381998
Total Pages : 49 pages
Book Rating : 4.91/5 ( download)

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Download or read book Fiscal Sustainability written by Mr.Evan Tanner and published by International Monetary Fund. This book was released on 2013-04-22 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper critically reviews recent work regarding the sustainability of public debt. It argues that Debt Sustainability Analyses (DSAs) should be more than mere mechanical simulation exercises. Instead, a DSA should be linked to some objective regarding the distribution of fiscal burdens and distortions over time (in the tradition of Barro’s 1979 tax smoothing objective). The paper discusses objective functions that yield simple and transparent fiscal policy rules.

Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264233385
Total Pages : 264 pages
Book Rating : 4.86/5 ( download)

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Download or read book Fiscal Sustainability of Health Systems Bridging Health and Finance Perspectives written by OECD and published by OECD Publishing. This book was released on 2015-09-24 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: The health systems we enjoy today, and expected medical advances in the future, will be difficult to finance from public resources without major reforms. Public health spending in OECD countries has grown rapidly over most of the last half century. These spending increases have contributed to ...

Author : Naoyuki Yoshino
Publisher :
ISBN 13 :
Total Pages : 456 pages
Book Rating : 4.92/5 ( download)

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Download or read book Central and Local Government Relations in Asia written by Naoyuki Yoshino and published by . This book was released on 2017 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sustainable and inclusive growth in emerging Asian economies requires high levels of public investment in areas such as infrastructure, education, health, and social services. The increasing complexity and regional diversity of these investment needs, together with the trend of democratization, has led to fiscal decentralization being implemented in many Asian economies. This book takes stock of some major issues regarding fiscal decentralization, including expenditure and revenue assignments, transfer programs, and the sustainability of local government finances, and develops important findings and policy recommendations. The book's expert contributors assess the current state of the allocation of expenditures and revenues between central and local governments in emerging Asian economies, and discuss their major strengths and weaknesses. They also present relevant case studies of experiences and reform measures related to strengthening and monitoring local government finance, including the implications of expanded fiscal capacity for infrastructure investment and other public spending. Covering the major Asian economies of the People's Republic of China, India, Indonesia, and Japan, among others, the book focuses on the economic incentives of transfer schemes, how intergovernmental fiscal equalization works, and how subnational government borrowing regulations could influence debt dynamics and the fiscal deficits of local governments. This book's insightful analysis will be essential reading for policymakers in Asian economies, and academics and researchers in the areas of economic development, public finance, and fiscal policy as well as development aid officials, multilateral banks, and NGOs. Contributors include: S. Barrios, S.-i. Bessho, P. Chakraborty, P. Das, Z. Fan, R.K. Goel, S. Li, D. Martínez-López, J. Martinez-Vazquez, P.J. Morgan, A. Nasution, J.W. Saunoris, P. Smoke, L.Q. Trinh, V. Vulovic, G. Wan, N. Yoshino, Q. Zhang

Author : Mr.George Kopits
Publisher : International Monetary Fund
ISBN 13 : 9781557757043
Total Pages : 58 pages
Book Rating : 4.46/5 ( download)

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Download or read book Fiscal Policy Rules written by Mr.George Kopits and published by International Monetary Fund. This book was released on 1998-07-22 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are fiscal policy rules? What are the principal benefits and drawbacks associated with various fiscal rules, particularly compared with alternative approaches to fiscal adjustment? Can fiscal rules contribute to long-run sustainability and welfare without sacrificing short-run stabilization? If so, what characteristics of fiscal rules make this contribution most effective? And in what circumstances and contexts, if any should the IMF encourage its member countries to adopt fiscal rules? This paper seeks to identify sensible fiscal policy rules that can succeed, if chosen by a member country, as an alternative to descretionary fiscal rules.

Author : Benno Ferrarini
Publisher : Routledge
ISBN 13 : 0415522218
Total Pages : 227 pages
Book Rating : 4.12/5 ( download)

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Download or read book Public Debt Sustainability in Developing Asia written by Benno Ferrarini and published by Routledge. This book was released on 2012 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the global financial crisis has required fiscal intervention on a substantial scale by governments around the world. The consequent buildup of public debt, in particular its sustainability, has moved to center stage in the policy debate. If the Asia and Pacific region is to continue to serve as an engine for global growth, its public debt must be sustainable. Public Debt Sustainability in Developing Asia addresses this issue for Asia and the Pacific as a whole as well as for three of the most dynamic economies in the region: the People’s Republic of China, India, and Viet Nam. The book begins with a discussion of the reasons for increased attention to debt-related issues. It also introduces fiscal indicators for the Asian Development. Bank’s developing member countries and economies. The sustainability of their debt is assessed through extant approaches and with the most up-to-date data sources. The book also surveys the existing literature on debt sustainability, outlining the main issues related to it, and discusses the key implications for the application of debt sustainability analysis in developing Asia. Also highlighted is the importance of conducting individual country studies in view of wide variations in definitions of public expenditure, revenues, contingent liabilities, government structures (e.g., federal), and the like, as well as the impact of debt on interest rates. The book further provides in-depth debt sustainability analyses for the People’s Republic of China, India, and Viet Nam. Public Debt Sustainability in Developing Asia offers a comprehensive analytical and empirical update on the sustainability of public debt in the region. It breaks new ground in examining characteristics that are crucial to understanding sustainability and offers richer policy analysis that should prove useful for policymakers, researchers, and graduate students.