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Aging and Social Expenditure in the Major Industrial Countries, 1980-2025
Most of the seven major industrial countries are now experiencing significant changes in their demographic structure. A persistent pattern of declining fertility and improving life expectancy has created major segments of the population that are already relatively aged or will become so in the near future. This paper examines the impact of prospective demographic trends on the level and structure of social expenditure by the governments of the seven major industrial countries (the Group of Seven) through the year 2025.
Nepal
This report on the Observance of Standards and Codes on Fiscal Transparency of Nepal discusses fiscal transparency practices. Broad objectives of fiscal policy have been included in the budget speech, but the sustainability of fiscal policy over the longer term is not examined. Public reporting in relation to performance of the programs during budget implementation is weak. The government has undertaken a review of overall economic development and revised the estimates of revenue and expenditure. Internal control procedures are not fully effective, and the accounting system needs to be substantially strengthened.
Implications for Savings of Aging in the Asian “Tigers”
Significant aging is projected for many high-saving emerging economies of East and Southeast Asia. By 2025, the share of the elderly in their populations will at least double in most of these countries. The share of the young will fall. Aging populations could adversely affect saving rates in these economies, particularly after 2025. For the world, one may observe that, initially, the Asian Tigers could become increasingly important for world savings, reflecting their increased weight in the world economy, their high saving and growth rates, and the aging of the industrial countries. After 2025, the aging of the Tigers may reinforce the tendency toward a declining world saving rate.
Currency Convertibility and the Transformation of Centrally Planned Economies
This paper examines the problems in establishing currency convertibility- and the optimal timing- in formerly planned economies making the transition to market-oriented systems.
Exchange Rate Policy in Developing Countries
This paper addresses analytical aspects of exchange rate policy and emphasizes the relationship among exchange rate flexibility, financial discipline, and international competitiveness.
Who Will Pay? Coping with Aging Societies, Climate Change, and Other Long-Term Fiscal Challenges
Aging populations. Weather shocks. Scarce water. Globalization. Security threats. Policymakers today confront a number of developments that threaten to burden public budgets for decades to come, or bankrupt some entirely. This book argues that governments need to make policy changes now to take account of the potential fiscal consequences of these developments. After describing how, if at all, analysts, national governments, and international organizations currently address these long-term issues, the book stresses the vital need for a multipronged approach, involving strengthened analyses, greater attention to long-term issues and risk factors in budgeting, and institutional reforms that address the myopic biases of politicians and the public.
Chasing the Elephant Into the Bush
"CHASING THE ELEPHANT INTO THE BUSH" is an insider's account of how the governing New Patriotic Party lost power in the closest elections in Africa's history. The writer believes that providing an accurate account will begin the process of correcting the rumours, lies and myths that are out there about the 2008 elections in Ghana. Throughout, the book is liberally sprinkled with quotes and historical references that makes it very informative and interesting. He begins with the state of the nation and the governing party as Ghana approached 2008. He then takes the reader through the NPP primary and his own experiences as a losing candidate. There is candid discussion of the rivalries in the c...
Unstoppable Global Warming
Argues that global warming is a natural, cyclical phenomenon that has not been caused by human activities and that its negative consequences have been greatly overestimated.
Government Expenditure and Economic Growth
This paper examines the empirical evidence on the contribution that government and, in particular, capital expenditure make to the growth performance of a sample of developing countries. Using the Denison growth accounting approach, this study finds that social expenditures may have a significant impact on growth in the short run, but infrastructure expenditures may have little influence. While current expenditures for directly productive purposes may exert a positive influence, capital expenditure in these sectors appears to exert a negative influence. Experiments with other explanatory variables confirm the importance of the growth of exports to the overall growth rate.
