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2 results on '"SECTORAL OBJECTIVES"'

1. Quality of Macro-Fiscal Frameworks in Development Policy Operations

Author

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

2. Poverty Reduction Support Credits : Benin Country Study

Author

Horton, Brendan

Subjects
STRUCTURAL REFORM, PRIVATE INVESTMENT, ANNUAL PERFORMANCE, ANNUAL RATE, FOREIGN EXCHANGE RESERVES, DEPOSIT, SECTOR PROGRAMS, INFLATION, INSTITUTIONAL DEVELOPMENT, FISCAL BALANCE, BUDGET PREPARATION, GOVERNMENT INTERVENTION, GOVERNMENT POLICY, BUDGET SYSTEM, SECTOR MINISTRY, TRANCHES, FISCAL DECENTRALIZATION, PERSONNEL MANAGEMENT, GOVERNMENT BUDGET, REFORM AGENDA, BUDGET PREPARATION CYCLE, TRANSPARENCY, REAL EXCHANGE RATE, SERVICE DELIVERY, PUBLIC EXPENDITURE REFORM, BUDGET CYCLE, BALANCE OF PAYMENTS, RESOURCE MANAGEMENT, EXPENDITURE PROGRAM, POVERTY REDUCTION STRATEGIES, DEVALUATION, BUDGET REFORM, COUNTRY PROCUREMENT ASSESSMENT, BUDGET SUPPORT OPERATIONS, INFORMATION SYSTEM, SWAP, INTERNAL CONTROLS, PERFORMANCE AUDITS, DECENTRALIZATION STRATEGY, DISBURSEMENT, NATIONAL BUDGET, PUBLIC EXPENDITURE REVIEW, REFORM PROGRAM, POVERTY REDUCTION, FINANCIAL ACCOUNTABILITY, FINANCIAL OVERSIGHT, MEDIUM-TERM EXPENDITURE, CASH FLOW, LENDING INSTRUMENTS, CIVIL SERVICE REFORM, PUBLIC AGENCIES, DISBURSEMENTS, MINISTRY OF FINANCE, EXTERNAL SHOCKS, INVESTMENT PROJECTS, BUDGET YEAR, TOTAL EXPENDITURE, POVERTY REDUCTION STRATEGY, ADJUSTMENT LENDING, MACROECONOMIC STABILITY, PORTFOLIO, PUBLIC EXPENDITURE MANAGEMENT, RESOURCE FLOWS, PERFORMANCE REPORTS, REGULATORY FRAMEWORK, DECENTRALIZATION, EXCHANGE RATE, PERFORMANCE AUDITING, INDEPENDENT ASSESSMENT, DEBT RELIEF, MACROECONOMIC FRAMEWORK, PRIVATE SECTOR GROWTH, MEDIUM-TERM EXPENDITURE FRAMEWORK, SCHOOL FEES, CONDITIONALITIES, COUNTRY PROCUREMENT, GOVERNMENT ACCOUNTS, LOAN, PUBLIC FINANCE, BUDGET EXECUTION, DIAGNOSTIC WORK, FISCAL RISKS, ARTICLE, DEVELOPMENT BANK, EVALUATION CAPACITY, TRADING, FIDUCIARY ASSESSMENT, DECENTRALIZATION PROCESS, PUBLIC INVESTMENT, POVERTY REDUCTION SUPPORT, PUBLIC EXPENDITURE, ACCOUNTABILITY, EXPENDITURE PRIORITIES, WAREHOUSE, BANK POLICY, NATIONAL DEVELOPMENT, INTERNAL AUDIT, ECONOMIC GROWTH, FINANCIAL TRANSFERS, BASIC SERVICES, ALLOCATION, BUDGET FORMULATION, QUALITY OF EDUCATION, TRUST FUND, PROGRAMS, EXTERNAL FINANCING, ASSESSMENT OF PERFORMANCE, SECTOR MINISTRIES, FINANCIAL SECTOR, GENERAL BUDGET SUPPORT, MINISTRY OF ECONOMY, INSTRUMENT, OUTCOME INDICATORS, SECTOR BUDGETS, FINANCIAL OPERATIONS, PAYMENT DELAYS, PERFORMANCE INDICATORS, GOVERNMENT FINANCE STATISTICS, PUBLIC SECTOR MANAGEMENT, CAPACITY CONSTRAINTS, FINANCIAL ASSISTANCE, POVERTY REDUCING, SUSTAINABILITY ANALYSIS, CAPITAL INVESTMENT, BORROWER, ACCOUNTING SYSTEM, TRANCHE, BUDGET CREDIBILITY, BUDGET MANAGEMENT, SANITATION, PUBLIC UTILITIES, EVALUATION METHODOLOGY, POVERTY ASSESSMENT, GOVERNMENT FINANCE, JUDICIAL SYSTEMS, CIVIL SERVICE, PUBLIC EXPENDITURES, BUDGET EXECUTION REPORTING, PUBLIC SECTOR, DEBT, BUDGETARY IMPLICATIONS, PUBLIC SECTOR REFORM, BUDGET PREPARATION PROCESS, CONSENSUS BUILDING, FINANCIAL INFORMATION, SECTORAL OBJECTIVES, TOTAL EXPENDITURES, INVESTMENT CLIMATE, BUDGET LAW, STRUCTURAL ADJUSTMENT, BUDGETARY EXPENDITURES, PUBLIC EXPENDITURE TRACKING, BUDGETARY PROCEDURES, DONOR COORDINATION, FISCAL AFFAIRS, FOREIGN EXCHANGE, PROGRAM BUDGETING, REFORM OBJECTIVES, ACCOUNTING, FINANCES, PUBLIC ADMINISTRATION, FISCAL YEARS, PROGRAM IMPLEMENTATION, INTERNATIONAL DEVELOPMENT, POLICY FORMULATION, RESOURCE AVAILABILITY, HUMAN CAPITAL, PRIVATE SECTOR, BUDGET INFORMATION, PUBLIC FINANCIAL MANAGEMENT, PERFORMANCE ASSESSMENT, HUMAN RESOURCES, EXPENDITURES, PERFORMANCE MONITORING, GROWTH RATE, MACROECONOMIC POLICY, INTERNATIONAL BANK, BUDGET REPORTING, CONDITIONALITY, MONETARY FUND, PRICE MOVEMENTS, PROGRAM BUDGETS, PUBLIC FINANCIAL MANAGEMENT SYSTEMS, COUNTERPART FUNDS, FISCAL CONSOLIDATION, SHARE OF INVESTMENT, FINANCIAL SUPPORT, EXCHANGE RESERVES, PUBLIC EXPENDITURE MANAGEMENT REFORM, CAPACITY BUILDING, DEBT SUSTAINABILITY, HEALTH SERVICES, GRANT PROGRAM, STRUCTURAL REFORMS, CURRENT ACCOUNT DEFICIT
Abstract

Benin experienced a long period of political instability and economic challenges after achieving its independence in August 1960. In 1991 a new government initiated far-reaching reforms aimed at the creation of a market-based economy, resulting in significant liberalization of Benin's political and economic system. Growth fluctuated in the range of 4-6 percent until 2000, after which it began to trend downwards, fluctuating largely in response to variation in the exchange rate as well as to movement in the prices of cotton, Benin's main export, and oil, a major import. Benin benefited from support under the Environmental and Social Assessment Framework (ESAF) and Poverty Reduction and Growth (PRGF) facilities, the latter continuously since 1993. According to an independent ex-post review (International Monetary Fund 2004), program implementation during 1993-2003 was broadly successful. Real economic growth averaged 5 percent and fiscal consolidation improved as key initial challenges arising from the Government's low revenue collection and high wage bill were addressed. But overall progress in structural reform was mixed. Initial efforts to liberalize the economy and reduce government intervention were successful, and there was progress in introducing far-reaching reforms in the cotton sector. A new poverty reduction growth facility was approved in August 2005.

Published
2010

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