Fiscal positions of African countries have improved significantly during the past decade. Higher economic growth, better terms of trade, improved donor support notably through debt relief and better control of expenditure contributed to this improvement. But at the same time government revenue...

This review of public finance in developing countries covers tax advice and practice during the past half century, principles of good public finance, some key issues in development finance during the period, fiscal decentralization and some important open questions. Thinking about good tax...

MDGs are global goals and are powerful tools of international policy because they create a framework of accountability by going beyond stating general objectives and set quantitative, time bound targets against which performance can be measured. This paper challenges the methodology...

This paper reports the results of a study of the impact of government expenditures on economic growth, emphasizing how government effectiveness influences the efficiency of government spending. The effects of sub-categories of government spending on growth are also examined. Total expenditures...

This policy report provides an up-to-date assessment of Ukraine's fiscal situation and locates the analysis in the longer-term context of the needs to keep the state viable in the current war situation, but also to deal with the challenges of reconstruction after the war and on its path towards...

This paper investigates the macroeconomic challenges created by a surge in aid inflows. It develops an analytical framework for examining possible policy responses to increased aid, in terms of absorption and spending of aid - where the central bank controls absorption through monetary policy...

Debt relief and the scaling up of aid to low-income countries should allow for greater fiscal space for expenditure programs to create long-term growth and lower poverty rates. But designing a suitable medium-term fiscal framework that fosters a sustainable delivery of better public services and...

Developing economies with high levels of open or hidden unemployment face structural transformation problems. Unlike in mature economies there are no structural aggregate demand problems, and sustained aggregate demand stimulus can lead to a profit squeeze in the modern sector and...