Welcome to our book review site go-pdf.online!
You may have to Search all our reviewed books and magazines, click the sign up button below to create a free account.
A New Strategy for Korea’s Fiscal Policy in a Low Growth Environment
Adverse demographics and other structural weaknesses impinge on Korea’s long-term fiscal outlook and potential growth. Moreover, inadequate social protection is creating poverty and dampening consumption. The paper presents projections of Korea’s fiscal outlook, using new estimates of potential growth obtained with a novel multivariate filter. It shows that keeping fiscal revenues-to-GDP constant would result in an explosive public debt dynamic in the long term. Then, through simulations of the Flexible System of Global Models, the paper analyzes policies to preserve fiscal sustainability, while boosting potential growth and social protection. It concludes that with greater revenue mobilization, Korea can stabilize debt-to-GDP well below “dangerous” levels. Policies to address Korea’s challenges include higher targeted transfers to the most vulnerable and fiscal measures to support female labor force participation and employment, accompanied by product and labor market reforms.
From Transition to Accession
Bulgaria is recovering from a severe economic and financial crisis after more than half a decade of macroeconomic mismanagement. As a candidate country for accession to the EU, Bulgaria will need to establish stable, well-regulated and competitive financial markets and institutions. This paper reviews developments in the financial markets.
Evaluating a Targeted Social Program when Placement is Decentralized
July 1998 A social program that relies partly on geographic decentralization for placement provides indicators helpful for identifying the program's impact on welfare. An assessment of the welfare gains from a targeted social program can be seriously biased unless it takes proper account of the endogeneity of program participation. Bias comes from two sources of placement endogeneity: the purposive targeting of the geographic areas to receive the program, and the targeting of individual recipients within selected areas. Decentralization of program placement decisions is common, because of the administrative cost of centralized placement decisions and the fact that local groups and government...
What's in the R- Stars for Korea?
Korea’s stars tell of an economy saddled with a real neutral rate (r-star) that has declined significantly in recent decades and is currently below zero. This reflects a significant decline in trend growth, and two large financial crises that triggered significant shifts in the saving-investment balance. Larger fiscal deficits and frothy financial conditions since 2012 have helped offset rising demand for safer assets, preventing the neutral rate from falling further. Nonetheless, the fall in the neutral rate, coupled with its effects on asset returns, has complicated the task of monetary policy stabilization. Korea’s neutral rate is likely to remain low over the medium-term and could fall further, reflecting a structural savings-investment imbalance owing to declining productivity and a rotation in demographics increasing the demand for precautionary saving and convenience yield, and widening the capital risk premia. The COVID pandemic risks magnifying these trends.
What Explains the Success Or Failure of Structural Adjustment Programs?
June 1998 A few political economy variables can successfully predict the outcome of an adjustment loan 75 percent of the time. To select promising candidates for adjustment, the World Bank must do a better job of understanding which environments are promising for reform and which are not. Being more selective may mean smaller volumes of lending. In the 1980s development assistance shifted largely from financing investments (such as roads and dams) to promoting policy reform. This change came because of a growing awareness that developing countries were held back more by poor policies than by a lack of finance for investment. After nearly 20 years' experience with policy-based or conditional ...
Social Sciences
"The one source that sets reference collections on Latin American studies apart from all other geographic areas of the world.... The Handbook has provided scholars interested in Latin America with a bibliographical source of a quality unavailable to scholars in most other branches of area studies." —Latin American Research Review Beginning with volume 41 (1979), the University of Texas Press became the publisher of the Handbook of Latin American Studies, the most comprehensive annual bibliography in the field. Compiled by the Hispanic Division of the Library of Congress and annotated by a corps of more than 130 specialists in various disciplines, the Handbook alternates from year to year b...
