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Dominica : OECS Fiscal Issues, Policies to Achieve Fiscal Sustainability and Improve Efficiency and Equity of Public Expenditures

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
56.52%
This report concludes that during FY1993/94 to FY002/03 the fiscal policy implemented by the government of Dominica was unsustainable and posed a risk to the stability of the currency board arrangement. Moreover, this report recommends that most of the adjustment required to achieve a sustainable fiscal policy needed to come from expenditure cuts, in particular a reduction in the number of established and non-established positions, and from focusing capital expenditures on projects geared to growth and poverty reduction and funded largely by grants and concessional loan. A reduction in tax exemptions and discretionary concessions is also essential, as is a restructuring of the revenue base through the introduction of the value-added tax (VAT). While social indicators are good for a country at this level of gross domestic product (GDP), there is ample room for more efficient modalities of education and health service delivery that can generate significant savings and improve effectiveness. In addition, the government should strive to ensure that its social programs, in particular social protection, are delivered in a well-targeted and effective manner in order to provide more effective safety nets in the context of fiscal consolidation and continued vulnerability to external shocks. The report is organized as follows: Chapter 1 discusses fiscal sustainability in Dominica and presents options for fiscal consolidation; Chapter 2 discusses the budget management system in place and its effect on budgetary outcomes. Chapter 3 examines the Public Sector Investment Program (PSIP); Chapter 4 discusses public sector employment and compensation; Chapters 5 and 6 examine public expenditures and outcomes in the health and education sectors; and Chapter 7 discusses social protection programs.

Georgia - Managing Expenditure Pressures for Sustainability and Growth : Public Expenditure Review

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
46.68%
Economic growth has rebounded strongly in Georgia during 2010-12 and commendable fiscal consolidation has been implemented, although considerable medium-term macro-fiscal challenges remain. To meet the challenge of generating rapid and sustainable growth in an uncertain global environment, Georgia will need to continue to implement and potentially deepen its fiscal consolidation program. This public expenditure review (PER) considers possible sources of expenditure pressure that could undermine the fiscal consolidation program and suggests options to manage them. Social expenditure pressures arise from the need to provide adequate old-age income to an aging population that relies primarily on the publicly funded pension benefit, as well as from needs to improve social assistance coverage of the poor, and improve health outcomes. Capital expenditure pressures arise from the need to rehabilitate a large backlog of the secondary and local road network in poor condition, continued improvement the East-West Highway...

Georgia - Public Expenditure Review : Managing Expenditure Pressures for Sustainability and Growth

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
46.74%
Economic growth has rebounded strongly in Georgia during 2010-12 and commendable fiscal consolidation has been implemented, although considerable medium-term macro-fiscal challenges remain. This public expenditure review (PER) considers possible sources of expenditure pressure that may affect the fiscal consolidation program and suggests options to manage them. This PER presents a number of options for consideration to manage fiscal consolidation, which can contribute toward greater selectivity in capital expenditures, enhanced sustainability of the road investment program, and containing medium-term social expenditure pressures. The rest of this synthesis report is in five chapters. Chapter first summarizes the macroeconomic context and assesses trade-offs associated in balancing the overall composition of public expenditures. The second and third chapters illustrate policy options and implications associated with containing social expenditure pressures and improving effectiveness of health expenditures...

Plurinational State of Bolivia : Agriculture Public Expenditure Review

World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
46.61%
Agriculture is one of the most important sectors for reducing poverty, improving food security, and contributing to the development of Bolivia. There is a need for re-organization and re-prioritization of spending within the sector before an argument for more resources can be made. Recommendations include allocating more resources towards agricultural public goods (such as research and extension among others) to improve sectoral performance and to support a heterogeneous agricultural sector in the context of rapid technological change, climate pressures and food price volatility. There is a need for resource allocations towards research and extension, adherence to the types of production systems in the country. Improving the balance between current and capital expenditures in agriculture is imperative. Within the current component of sectoral expenditures, more money should be spent on human capital. Prioritization and targeting of public agricultural investments is a good starting point for improving sector performance. This prioritization within the agricultural sector should consider the diversity of production systems and agricultural economic units in rural areas. Bolivia needs a coordinated monitoring and evaluation system that enables the tracking of results of the sector as a whole and facilitates the planning of investments. Strong recommendations are made to ensure better implementation of available resources in agriculture.

Assessing Fiscal Implication of the Recent Changes in Poverty Lines and Revision of Allocation Norms of Capital Expenditures and Resources for Targeted Programs

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
56.58%
There have been important changes in the budgeting process in Vietnam since 2006 when the government of Vietnam instituted a revolutionary reform in the management and allocation of the state budget. For the period of 2007-2010, the norms include ethnic minority population data, and poverty rates. The purpose of this research assignment is to describe the evolution of budgeting mechanisms in recent years, in association with capital expenditure transferred from central to provincial budgets. This report focuses on changes in the budgeting process and allocation norms. It is also assesses whether these recent changes are pro-poor, and how they would affect availability of resources for the national targeted programs.

Grenada, OECS Fiscal Issues : Policies to Achieve Fiscal Sustainability and Improve Efficiency and Equity of Public Expenditures

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
56.6%
The report reviews Grenada public expenditures for the period 1995-02 and suggests policy recommendations to achieve fiscal sustainability, improve social service delivery, and reform social protection based on the economic situation of the country at the time. To restore rapid economic growth, ensure medium-term fiscal sustainability under the umbrella of the currency union and protect the social achievements realized in the past decades, the main challenges facing the Grenada government are to: (a) tighten fiscal policy, notably through reduction of capital expenditures and the realization of the fiscal savings expected from the public sector reform initiated in 1997 (b) increase the efficiency of public investments and public service delivery; (c) strengthen regulation and efficiency of public utilities and sea/air transport; (d) modernize the legal framework that oversees public sector employment; and (e) promote education and skills development to prepare the population, notably the poor, to take advantage of new opportunities in the global environment. The report is organized as follows: Chapter 1 discusses fiscal sustainability in Grenada and presents options for fiscal consolidation; Chapter 2 discusses the role of the business cycle in the design of fiscal policy by reviewing the cyclical components of the fiscal accounts; Chapter 3 discusses the budget management system in place and its effect on budgetary outcomes. Chapter 4 examines the Public Sector Investment Program (PSIP); Chapter 5 discusses public sector employment and compensation issues; Chapters 6 and 7 examine public expenditures and outcomes in the education and health sectors; and Chapter 8 discusses social protection programs. Since the completion of the report...

Saint Kitts and Nevis - OECS Fiscal Issues : Policies to Achieve Fiscal Sustainability and Improve Efficiency and Equity of Public Expenditures

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
46.55%
Despite high levels of per capita incomes and good social service provision, poverty remains a persistent problem in St. Kitts and Nevis. To improve competitiveness, restore rapid economic growth, and ensure its medium-term sustainability in the context of the currency union, the main challenges to the St. Kitts and Nevis government are to (a) tighten fiscal policy, notably through expenditure cuts; (b) increase the efficiency of public investments and public service delivery; (c) strengthen regulation and efficiency of public utilities and sea/air transport; and (d) promote education and skills development to prepare the population, notably the poor, to take advantage of new opportunities in the global environment. The report is organized as follows: Chapter 1 discusses fiscal sustainability in St. Kitts and Nevis and presents options for fiscal consolidation; Chapter 2 discusses the role of the business cycle in the design of fiscal policy by reviewing the cyclical components of the fiscal accounts; Chapter 3 discusses the budget management system in place and its effect on budgetary outcomes; Chapter 4 examines the Public Sector Investment Program; Chapter 5 discusses public sector employment and compensation; Chapters 6 and 7 examine public expenditures and outcomes in the education and health sectors; and Chapter 8...

Public Expenditures for Decentralized Governance in Honduras : Towards Restoring Fiscal Consolidation

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
46.7%
Fiscal consolidation remains the central challenge facing Honduras, mainly due to increasing current expenditures. The widening fiscal deficit has been driven by a significant increase in current expenditures. These increased current expenditures, which add rigidity to the budget, have occurred at the expense of investments. The efficiency of spending remains a key constraint. Limited improvements, especially in health and education outcomes despite high allocations to these sectors, suggest the need to improve the efficiency and quality of expenditures. Increased public expenditures have not delivered in terms of growth and improved public services, and whether the country is ready for decentralization remains an open question. Growing fiscal deficits and weak public financial management practices have constrained the ability of the central government to implement and finance the decentralization process. Current decentralization targets would pose significant fiscal challenges to the central government. The deterioration of the fiscal deficit is not a result of fiscal decentralization. However...

Georgia Public Expenditure Review : Strategic Issues and Reform Agenda

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
46.75%
Generating growth and creating jobs within a sustainable fiscal framework is Georgia s biggest macroeconomic challenge. Although Georgia registered rapid growth of 5.7 percent a year during 2010-13, unemployment remains high at 15 percent. New growth companies, especially in tourism and other service sectors, did not generate enough formal or even informal employment. Fiscal policy played a crucial role in Georgia s recent growth performance with a fiscal stimulus driven post-crisis recovery which increased deficit and debt levels followed by fiscal consolidation during 2010-12 when recovery took hold. The weak execution of the budget in 2013 and policy uncertainty were largely responsible for the growth slowdown during the year. Tackling the growth and jobs agenda in Georgia will require significant investment in human and physical capital and the government has a large role to play here. Additional spending, where it is needed, should be undertaken within the fiscal consolidation agenda of the government, designed to help restore the macroeconomic buffers needed to secure stability and sustain confidence in the future. The change in government in 2012 marked a shift in fiscal policy with prioritization of recurrent social expenditures over capital spending...

Georgia Public Expenditure Review : Diagnostics of Public Investment Management System

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
46.67%
Generating growth and creating jobs within a sustainable fiscal framework is Georgia s biggest macroeconomic challenge. Although Georgia registered rapid growth of 5.7 percent a year during 2010-13, unemployment remains high at 15 percent. New growth companies, especially in tourism and other service sectors, did not generate enough formal or even informal employment. Fiscal policy played a crucial role in Georgia s recent growth performance with a fiscal stimulus driven post-crisis recovery which increased deficit and debt levels followed by fiscal consolidation during 2010-12 when recovery took hold. The weak execution of the budget in 2013 and policy uncertainty were largely responsible for the growth slowdown during the year. Tackling the growth and jobs agenda in Georgia will require significant investment in human and physical capital and the government has a large role to play here. Additional spending, where it is needed, should be undertaken within the fiscal consolidation agenda of the government, designed to help restore the macroeconomic buffers needed to secure stability and sustain confidence in the future. The change in government in 2012 marked a shift in fiscal policy with prioritization of recurrent social expenditures over capital spending...

Autonomy with Equity and Accountability : Toward a More Transparent, Objective, Predictable and Simpler (TOPS) System of Central Financing of Provincial-Local Expenditures in Indonesia

Shah, Anwar
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
46.68%
During the past decade, Indonesia has transformed itself from centralized governance to decentralized local governance. Local governments were given extensive expenditure responsibilities while keeping the tax system centralized. To finance decentralized provincial-local expenditures, Indonesia implemented a new system of intergovernmental finance. This paper provides a review of the equity and efficiency implications of the current system of central-provincial-local transfers. It finds that the system of intergovernmental finance represents one of the most complex systems ever implemented by any government in the world. The system is primarily focused on a gap-filling approach to provincial-local finance to ensure revenue adequacy and local autonomy but without accountability to local residents for service delivery performance. This is done through a great degree of academic rigor using highly complex procedures. The complexity leads to a lack of transparency, inequity and uncertainty in allocation as well as creating incentives for jurisdictional fragmentation and reducing own-tax effort. Simpler alternatives are available that have the potential to address equity objectives while also enhancing efficiency and citizen-based accountability. Such alternatives would represent a move away from complex gap filling and special allocation approaches to simple...

The More You Spend, the More You Get? The Effects of R&D and Capital Expenditures on the Patenting Activities of Biotechnology Firms - IPTS WORKING PAPER on CORPORATE R&D AND INNOVATION - No. 6/2010

SANTARELLI ENRICO; PIERGIOVANNI Roberta
Fonte: Publications Office of the European Union Publicador: Publications Office of the European Union
Tipo: EUR - Scientific and Technical Research Reports Formato: Online
ENG
Relevância na Pesquisa
46.55%
This paper provides evidence on the mechanisms influencing the patent output of a sample of biotechnology firms from the input of indirect knowledge acquired from capital expenditures and direct knowledge from in-house R&D. Statistical models of counts are used to analyse the relationship between patent applications and R&D and capital expenditures. It focuses on biotechnology in the period 2002-2007 and is based on a unique data set drawn from various sources including the EU Industrial R&D Investment Scoreboard, the European Patent Office (EPO), the US Patent and Trademark Office (USPTO), and the World Intellectual Property Organisation (WIPO/PCT). The statistical models employed in the paper are Poisson distribution generalisations with the actual distribution of patent counts fitting the negative binomial distribution and gamma distribution very well. Findings support the idea that capital expenditures ¿ taken as equivalent to technological change embodied in new machinery and capital equipment - may also play a crucial role in the development of new patentable items from scientific companies. For EPO patents, this role appears even more important than that played by R&D expenditures. The overall picture emerging from our analysis of the determinants of patenting in biotechnology is that the innovation process involves a well balanced combination of inputs from both R&D and new machinery and capital equipment.; JRC.DDG.J.3-Knowledge for Growth

Public Spending and Growth in an Economic and Monetary Union; The Case of West Africa

Moreno-Dodson, Blanca; Bayraktar, Nihal
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Working Paper; Publications & Research :: Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
46.74%
The focus of the paper is on how public spending volume, composition (current versus capital), and quality are linked to the per capita growth rates of the West Africa economic and monetary union (WAEMU) countries, which have been fluctuating and remain relatively low compared to other parts of the world. The empirical analysis covers the period 2000-2013. The results indicate that total public spending has a significant impact on growth. While the impact of the capital component is positive and statistically significant, the effect of the current component is consistently negative, but not significant. When the capital component is further split into two: public fixed capital investment and public other capital expenditures, defined as total public capital expenditure minus public fixed capital investment, the results show that not only physical capital formation but also human capital spending is important for growth in the WAEMU group. While the volatility measure for public investment has a clear negative and statistically significant impact on growth...

Moldova Public Expenditure Review : Capital Expenditures - Making Public Investment Work for Competitiveness and Inclusive Growth in Moldova; Moldova - Analiza cheltuielilor publice : cheltuielile capitale - eficientizarea investitiilor publice in scopul sporirii competitivitatii si cresterii economice in Moldova

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Public Expenditure Review; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
66.65%
This public expenditure review (PER) for Moldova is the result of a body of programmatic fiscal work. This PER focuses on capital expenditure. It supports the first pillar of the country partnership strategy (improving economic competitiveness) and complements the 2012 development policy operation. In the context of economic recovery and stabilization, government requested World Bank assistance in improving its capital allocation mechanism, as its fiscal consolidation program attempted to create space for critical infrastructure whilst gradually reducing the state's footprint in the economy. This report recommends ways to strengthen public investment processes, institutions, and sector policies to achieve better outcomes for public capital expenditures in Moldova. This report suggests reforms in public investment management and sector policies to raise cost-effectiveness and allocative efficiency of capital expenditures. Three key areas of reform are: (i) raise the quality of new projects by improving preliminary screening and project appraisal mechanisms; (ii) improve selection of new projects and ensure continuity of funding for ongoing projects through better prioritization and budgeting processes; and (iii) strengthen monitoring of project implementation for cost efficiency and timely delivery of public services. The report has four chapters. The first chapter presents the macroeconomic outlook and its implications for fiscal policy...

Tajikistan Government Expenditures : Size, Composition and Trends

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Public Expenditure Review
ENGLISH; EN_US
Relevância na Pesquisa
46.7%
This policy note is part of the World Bank's Programmatic Public Expenditure Review (PER) work program for FY2012-2014. The PER consists of a series of fiscal policy notes, which aim at providing the Government of Tajikistan with recommendations to strengthen budgetary processes and analysis. This policy note, the first in the series, sets the stage for the further in-depth discussion of the issues, identified in the note, based on the analysis of trends and composition of public spending during the period 2007-2013. The note is structured as follows. Section 2 begins with a brief review of macroeconomic context to provide the background for analysis of fiscal policy during the last six years and implications for fiscal policy going forward. Section 3 presents the overall fiscal picture and highlights the fiscal risks to be addressed to sustain the recent progress in fiscal consolidation. Sections 4 and 5 dig deeper in the composition and trends of expenditures and reviews, respectively. Section 6 provides the main conclusions: 1) fiscal consolidation is on track...

Tajikistan : Capital Expenditures and Public Investment Management

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Public Expenditure Review
ENGLISH; EN_US
Relevância na Pesquisa
66.68%
This policy note is part of the World Bank's Programmatic Public Expenditure Review (PER) work program for FY2012-2014. The PER consists of a series of fiscal policy notes, which aim at providing the Government of Tajikistan with recommendations to strengthen budgetary processes and analysis. This policy note, the sixth in the series continues the fiscal policy dialogue conducted in the previous notes. It is structured as follows. Chapter 2 sets a macro-fiscal context for the analysis with a particular focus on fiscal policy challenges. Chapter 3 analyzes the composition and trends in capital expenditures to identify issues and offer solutions for improving efficiency of capital spending. Chapter 4 reviews a public investment management process in Tajikistan to identify weaknesses in the capital budgeting cycle (planning, budgeting, implementation, and audit), and to recommend measures and remedies to address shortcomings in these processes. Chapter 5 provides the main conclusions: 1) although Tajikistan has enjoyed high economic growth and substantial external assistance...

Ghana - 2009 External Review of Public Expenditures and Financial Management : Volume 1. Main report

World Bank
Fonte: World Bank Publicador: World Bank
Tipo: Economic & Sector Work :: Public Expenditure Review
ENGLISH
Relevância na Pesquisa
46.57%
The 2009 External Review of Public Expenditures and Financial Management (ERPEFM) is the fifth in a series of annual assessments by some of the development agencies that contribute to the Multi-Donor Budgetary Support (MDBS) in Ghana. The review was prepared in close collaboration and after extensive discussions with senior government officials in the Government of Ghana, in particular with officials from the ministry of finance and economic planning. The main purpose of the review is to inform based on research findings the policy dialogue on public financial management that takes place in Ghana. The implementation of the 2009 budget is happening against the backdrop of the Government's stated objective of reducing the overall fiscal deficit to 9.4 percent of gross domestic product (GDP), down from an estimated 14.5 percent in 2008. The remainder of this chapter is organized as follows. Section B recapitulates the change in Ghanaian public finances in 2008. Section C discusses the country's fiscal outlook and the policy challenges ahead. Section D closes the chapter with the main conclusions and recommendations.

Capital Expenditures : Making Public Investment Work for Competitiveness and Inclusive Growth in Moldova

Coulibaly, Karen Stephanie; Diagne, Mame Fatou
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Brief; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
66.55%
Moldova faces the challenge of meeting considerable public investment needs while preserving fiscal sustainability. With a rapidly aging population, high emigration, structural imbalances, and vulnerability to external shocks, Moldova will need to raise investment, productivity, and exports in order to achieve sustained growth and competitiveness. The World Bank's recently published Moldova public expenditure review (PER) focuses on capital expenditures and recommends reforms in public investment management and sector policies to raise cost effectiveness and allocative efficiency. Analyses for the PER were conducted using the BOOST public expenditure database developed by the World Bank. It provides recommendations for improving effectiveness and to enhance Moldova's competitiveness and achieve sustained inclusive economic growth.

Municipal Budgeting and Finance : Scaling Up Energy Efficiency in Buildings in the Western Balkans

Network of Associations of Local Authorities in South-East Europe
Fonte: World Bank Group, Washington, DC Publicador: World Bank Group, Washington, DC
Tipo: Publications & Research :: Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
46.56%
Within the Western Balkans region, a secure and reliable energy supply is critical for sustainable economic growth. Expensive, imported energy and inefficient energy use place a huge burden on municipalities that require affordable and reliable infrastructure services to attract investment and provide services to their citizens. With energy prices projected to rise, service delivery costs will increase, further straining municipal budgets and disproportionally affecting poorer households. The ability of municipalities to adequately budget for and finance reductions in energy use thus will be a critical need in the years ahead. Saving energy can also help cities renew their building and infrastructure stock while helping to create employment opportunities, all paid for through the reductions in their energy bills. The municipal budget is the main financial planning document at the local level. It contains a list of municipal revenues and expenditures for the coming year, the latter of which are divided into operating and capital expenditures. Typically...

Improving Public Expenditures in Agriculture; Empirical Evidence of the Effectiveness and Efficiency of Agricultural Public Expenditures in Mongolia

Amponsah, Kofi; Annor-Frempong, Charles
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Report; Economic & Sector Work :: Public Expenditure Review; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
46.7%
The objective of the agricultural sector public expenditure review (AgPER) was to examine the efficiency and effectiveness of agricultural sector expenditures in Mongolia. The AgPER provides policy makers with a better understanding of: (a) trends in the level and composition of public expenditures in agriculture over the past five to ten years; (b) the economic and functional composition of agriculture expenditures; (c) the budget processes and performance in the agriculture sector; (d) issues inhibiting the effectiveness and efficiency of public expenditures in agriculture.