This paper analyzes the effectiveness of public expenditures on economic growth within the analytical framework of comprehensive Neo-Schumpeterian economics. Using a fixed-effects model for G20 countries, the paper investigates the links between the specific categories of public expenditures and...

This paper looks at historical and current frameworks to manage macroeconomic linkages among economies. It considers first the evolving nature of global payments imbalances. It then focuses on the mechanisms of macroeconomic dialogue and cooperation put in place at different times to guarantee...

This paper looks at historical and current frameworks to manage macroeconomic linkages among economies. It considers first the evolving nature of global payments imbalances. It then focuses on the mechanisms of macroeconomic dialogue and cooperation put in place at different times to guarantee...

The paper examines public expenditures and their effects on economic growth. For that purpose we choose four categories of expenditures, defence, infrastructure, human capital and R & D expenditures. Behind these expenditures stands, in socio-political consideration, a certain notion of the...

The Flexible System of Global Models (FSGM) is a group of models developed by the Economic Modeling Division of the IMF for policy analysis. A typical module of FSGM is a multi-region, forward-looking semi-structural global model consisting of 24 regions. Using the three core modules focused on...

This paper presents twelve budget institutions that can support planning and delivery of credible fiscal strategies in the fiscal policy-making process. The resulting framework is applied to seven low-income countries and the status of their budget institutions compared to the G-20 advanced and...

A crisis is a terrible thing to waste, and nowhere is this truer than in the arena of international economic policy cooperation. With the world facing the largest and most synchronized plunge in output of the postwar era, policy makers banded together to find solutions. This paper looks at the...

This updated Progress report on implementation of the Basel regulatory framework provides a high-level view of Basel Committee members' progress in adopting Basel II, Basel 2.5 and Basel III, as of end March 2014. It focuses on the status of domestic rule-making processes to ensure that the...

Countervailing monetary power -- Defending cooperative decentralization -- From managing the trilemma to stability supported growth -- Let's not get carried away -- The politics of re-regulating cross-border finance -- Ruling capital: the IMF's new view of the capital account -- Good talk,...