1. Quality of Macro-Fiscal Frameworks in Development Policy Operations
- Author
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Independent Evaluation Group
- Subjects
MEDIUM TERM EXPENDITURE ,BUDGET ,GROSS DOMESTIC PRODUCT ,ANNUAL RATE ,MEDIUM TERM EXPENDITURE FRAMEWORK ,GOVERNMENT GUARANTEES ,FISCAL PRUDENCE ,ALLOCATION ,SECTOR PROGRAMS ,FISCAL COST ,EXPENDITURE FRAMEWORKS ,PROGRAMS ,FISCAL BALANCE ,FISCAL RISK ,FISCAL DEFICIT ,EXPENDITURE POLICY ,FINANCIAL SECTOR ,FISCAL MANAGEMENT ,FISCAL RULES ,OUTCOMES ,RESOURCE ALLOCATION ,FISCAL CRISIS ,OUTCOME INDICATORS ,FINANCIAL CRISIS ,CAPITAL FLIGHT ,PROGRAM REVIEWS ,FISCAL ACTIONS ,INCENTIVES ,REFORM AGENDA ,SUSTAINABILITY ANALYSIS ,HIGHER GOVERNMENT SPENDING ,FINANCIAL MARKETS ,EXPENDITURE PROGRAM ,INTEREST SUBSIDY ,FISCAL FRAMEWORK ,TAX POLICY ,SUSTAINABILITY OF REFORMS ,EXTERNAL DEBT ,FISCAL DEBT ,PUBLIC PRIVATE PARTNERSHIPS ,CIVIL SERVICE ,PUBLIC EXPENDITURES ,BUDGET SUPPORT OPERATIONS ,FISCAL ADJUSTMENT ,GOVERNMENT EXPENDITURES ,GOVERNMENT GUARANTEE ,PUBLIC EXPENDITURE POLICY ,SERVICES ,PUBLIC EXPENDITURE REVIEW ,REFORM PROGRAM ,PUBLIC SECTOR ,POVERTY REDUCTION ,DEBT ,FISCAL ARRANGEMENTS ,SECTORAL POLICY ,FISCAL FRAMEWORKS ,FISCAL PROGRAM ,SOCIAL SECURITY ,MEDIUM-TERM EXPENDITURE ,PENSION REFORM ,PUBLIC SECTOR REFORM ,FINANCIAL MANAGEMENT ,PRUDENT FISCAL MANAGEMENT ,FISCAL EXPENDITURE ,SECTORAL OBJECTIVES ,CIVIL SERVICE REFORM ,FISCAL ADJUSTMENTS ,MACROECONOMIC POLICIES ,MINISTRY OF FINANCE ,EXTERNAL SHOCKS ,FISCAL SIDE ,CONTINGENT LIABILITY ,MACROECONOMIC MANAGEMENT ,MACROECONOMIC STABILITY ,SOCIAL POLICIES ,PUBLIC EXPENDITURE MANAGEMENT ,TAX BASE ,ACCOUNTING ,BUDGET SUPPORT ,PROGRAM IMPLEMENTATION ,FISCAL POLICY ,PUBLIC SECTOR EMPLOYMENT ,HEALTH CARE ,CENTRAL GOVERNMENT ,EXCHANGE RATE ,FISCAL TARGETS ,INDEPENDENT ASSESSMENT ,MACROECONOMIC FRAMEWORK ,PRIVATE SECTOR ,SOCIAL SAFETY NETS ,MEDIUM-TERM EXPENDITURE FRAMEWORK ,TAXES ,NATURAL DISASTERS ,EXPENDITURE FRAMEWORK ,FISCAL IMBALANCE ,CORRECTIVE ACTION ,PUBLIC FINANCIAL MANAGEMENT ,FISCAL REFORM ,SOCIAL PROTECTION ,PERFORMANCE ASSESSMENT ,ECONOMIC POLICY ,STABILIZATION POLICY ,COMPETITION ,GOVERNMENT SPENDING ,EXPENDITURES ,DEBT MANAGEMENT ,PUBLIC FINANCE ,MACROECONOMIC POLICY ,GROWTH RATE ,DIAGNOSTIC WORK ,FISCAL SUSTAINABILITY ,CONDITIONALITY ,FISCAL RISKS ,FISCAL OBJECTIVES ,ARTICLE ,MEDIUM-TERM EXPENDITURE FRAMEWORKS ,DIVISION OF LABOR ,NATURAL RESOURCES ,FISCAL POSITION ,FINANCIAL SUPPORT ,TAX BASES ,MEDIUM-TERM FISCAL FRAMEWORK ,DEBT SUSTAINABILITY ,DEFICIT ,STRUCTURAL REFORMS ,POVERTY REDUCTION SUPPORT ,PUBLIC EXPENDITURE ,INTEREST RATE ,TAX EVASION ,EXPENDITURE ,FISCAL ANALYSIS ,EXPENDITURE MANAGEMENT - Abstract
The report is part of a series of learning products with limited objectives geared towards synthesizing existing knowledge as well as learning and gaining new insights into the factors that influence design, policy implementation, and performance of development policy loans. It aims to provide fresh insights and build on previous evaluations of Bank investment projects and research and analytical work (for example, recent independent evaluation group (IEG) work on development policy operations (DPOs) includes the evaluation of poverty reduction support credits (PRSCs), first and second financial crisis evaluations (which examined crisis DPOs), recent operations policy and country services (OPCS) DPO retrospectives, and new research presented in this report on aspects of DPOs using a combination of approaches). The quality of macro frameworks in DPOs alone has not been subject of in-depth study. This report aims to contribute to filling that gap with a: (i) preliminary analysis of the quality of macro-fiscal frameworks in DPOs, and (ii) a comprehensive database of project level DPOs and related country and economic policy and statistical information, which is a byproduct of the study.
- Published
- 2015