Quality of Macro-Fiscal Frameworks in Development Policy Operations

The paper analyzes the following three questions of importance for the quality of design and effectiveness of the World Bank's budget support (development policy operations--DPOs): What has been the quality of macro-fiscal frameworks and their building blocks in DPOs? What factors may be related to the quality of macro-fiscal frameworks and the success of DPOs? And what good practices can be identified that may provide lessons for the future design and implementation of DPO macro-fiscal frameworks? To answer these questions, the paper uses a combination of evaluation methods, including qualitative review and ratings, regression analysis, and case studies. The total of 390 DPOs during the period 2005-13 are analyzed using qualitative and regression analyses, including 15 case studies