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A Growth-Friendly Path for Building Fiscal Buffers in the Caucuses and Central Asia

A Growth-Friendly Path for Building Fiscal Buffers in the Caucuses and Central Asia »

Volume/Issue: 2018/6

Series: Departmental Papers / Policy Papers

Author(s): Edward Gemayel , Lorraine Ocampos , Matteo Ghilardi , and James Aylward

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2018

DOI: http://dx.doi.org/10.5089/9781484337165.087

ISBN: 9781484337165

Keywords: Growth acceleration, Uzbekistan, Afghanistan, Islamic Republic of, Iran, Islamic Republic of, Libyan Arab Jamahiriya, Syrian Arab Republic, Yemen, Republic of, Saudi Arabia, Somalia, Sudan

Since 2014, large and persistent external shocks have hit the CCA region, particularly a slump in global commodity prices and slower growth in its key economic partners. Fiscal accommodation, along with currency ad...

Public Wage Bills in the Middle East and Central Asia

Public Wage Bills in the Middle East and Central Asia »

Series: Departmental Papers / Policy Papers

Author(s): Natalia Tamirisa , and Christoph Duenwald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 January 2018

DOI: http://dx.doi.org/10.5089/9781484336731.087

ISBN: 9781484336731

Keywords: Public sector, Public sector wages, Public employment, Public expenditure management, Public expenditures reform, Public services, Public employment systems, Public sector; Public sector wages; Public employment; Public expenditure management; Public expenditures reform; Public services; Public employment systems

Analysis of policies for managing public sector wage bills in the Middle East and Central Asia region. While some work has been done recently at the Fund on issues related to government employment and compensation,...

Automatic Fuel Pricing Mechanisms with Price Smoothing
			: Design, Implementation, and Fiscal Implications

Automatic Fuel Pricing Mechanisms with Price Smoothing : Design, Implementation, and Fiscal Implications »

Volume: 12

Series: Technical Notes and Manuals

Author(s): David Coady , Javier Arze del Granado , Luc Eyraud , and Anita Tuladhar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2013

DOI: http://dx.doi.org/10.5089/9781475566949.005

ISBN: 9781475566949

Keywords: Petroleum products, price smoothing, fuel taxes, price, prices, retail, pricing, volatility

Many developing and emerging countries do not fully pass-through increases in international fuel prices to domestic retail prices, with adverse consequences for fuel tax revenues and tax volatility. The adoption of...

Fiscal Coverage in the Countries of the Middle East and Central Asia
			: Current Situation and a Way Forward

Fiscal Coverage in the Countries of the Middle East and Central Asia : Current Situation and a Way Forward »

Volume/Issue: 2008/111

Series: IMF Working Papers

Author(s): Daria Zakharova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2008

DOI: http://dx.doi.org/10.5089/9781451869712.001

ISBN: 9781451869712

Keywords: Fiscal coverage, public enterprises, fiscal risks, fiscal statistics, fiscal policy, fiscal accounts, Structure, Scope, and Performance of Government,

This paper reviews some broad principles of fiscal coverage, building on cross-country experience. It discusses the level of coverage that would be appropriate to conduct good quality fiscal analysis, while strikin...

Altruism and Workers' Remittances
			: Evidence from Selected Countries in the Middle East and Central Asia

Altruism and Workers' Remittances : Evidence from Selected Countries in the Middle East and Central Asia »

Volume/Issue: 2006/130

Series: IMF Working Papers

Author(s): Jacques Bouhga-Hagbe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2006

DOI: http://dx.doi.org/10.5089/9781451863901.001

ISBN: 9781451863901

Keywords: altruism, co-integration, cointegration, equation, workers ? remittances, equations, Household Behavior: General, Macroeconomics: Consumption, Saving, Production

Workers' remittances have been playing an increasingly important role in the balance of payments of many countries and can significantly contribute to the strength of their external positions. Assessing the likely...

Equity and Efficiency in the Reform of Price Subsidies
			: A Guide for Policymakers

Equity and Efficiency in the Reform of Price Subsidies : A Guide for Policymakers »

Series: Manuals & Guides

Author(s): Juan Cordoba , Robert Gillingham , Sanjeev Gupta , Ali Mansoor , Christian Schiller , and Marijn Verhoeven

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 December 2000

DOI: http://dx.doi.org/10.5089/9781557759733.069

ISBN: 9781557759733

Keywords: subsidy, price subsidies, social safety nets, social protection

This text provides guidance to policymakers on how to design and implement sound price-subsidy reforms. It draws on the experience of price-subsidy reform in 28 countries. The authors discuss economic and political...

Speculative Attacks, Forward Market Intervention and the Classic Bear Squeeze

Speculative Attacks, Forward Market Intervention and the Classic Bear Squeeze »

Volume/Issue: 1997/164

Series: IMF Working Papers

Author(s): Subir Lall

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1997

DOI: http://dx.doi.org/10.5089/9781451980202.001

ISBN: 9781451980202

Keywords: Speculative Attacks, Forward Markets, Exchange Rates, Market Corners, central bank, exchange rate, foreign exchange, central banks, domestic currency

A typical strategy used by speculators to launch an attack on a fixed exchange regime is the use of forward markets. Central banks also intervene in forward markets to counter speculation. This paper addresses the...

Institutional Investors and Asset Pricing in Emerging Markets

Institutional Investors and Asset Pricing in Emerging Markets »

Volume/Issue: 1996/2

Series: IMF Working Papers

Author(s): Elaine Buckberg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1996

DOI: http://dx.doi.org/10.5089/9781451841718.001

ISBN: 9781451841718

Keywords: investors, equity markets, institutional investors, stock markets, expected returns

This paper presents a new theory of asset pricing intended to address why other developing country equity markets responded so strongly to the Mexican devaluation, while the world’s major stock markets were...

International Integration of Equity Markets and Contagion Effects

International Integration of Equity Markets and Contagion Effects »

Volume/Issue: 1995/110

Series: IMF Working Papers

Author(s): Paul Cashin , Manmohan Kumar , and C. McDermott

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1995

DOI: http://dx.doi.org/10.5089/9781451853285.001

ISBN: 9781451853285

Keywords: equity markets, cointegration, stock market, stock markets, national equity markets

This paper investigates empirically the degree of international integration of industrial and emerging country equity markets. It analyzes two issues: first, the extent to which equity prices have tended to move si...