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Informality and Growth in Madagascar
This chapter investigates the link between informality and growth in Madagascar and aims for a better understanding of the informal sector. It provides an analysis of the characteristics of informal production units and informal employment. Findings suggest that informality is a key feature of economic activity in Madagascar, and that informal production units are the main driver of employment with a deep concentration around self-employment. Overall, informality is associated with a lack of awareness of administrative procedures and the complexity and cost of tax and regulatory measures. The informal sector’s Total Factor Productivity (TFP) growth is more stable and higher on average than the formal sector TFP.
How to Adjust to a Large Fall in Commodity Prices
Resource-rich countries have to manage highly volatile commodity revenues. In periods of revenue booms there is a tendency for large spending scale-ups. When facing large and persistent reductions in commodity prices, some of these countries will need to adjust their budgets to the new reality. In many cases, overall surpluses turn into large fiscal deficits and borrowing costs tend to rise with the fall in commodity prices. This note discusses how to undertake large fiscal adjustments, which often tend to be protracted and with long-lasting impacts on growth. Consequently, the note also highlights how to better prepare for future booms and busts in commodity prices.
Do Fiscal Rules Foster Fiscal Discipline in Resource-Rich Countries?
This paper investigates the performance of fiscal rules in resource-rich countries (RRC). Using panel data for 57 commodity exporting countries from 1976 to 2021, we find that fiscal rules: (i) reduce the procyclicality of real public expenditures with terms of trade in oil exporting countries, and (ii) improve non-resource primary balances in all RRC, especially during terms of trade upturns. The rules’ design matters. Addressing the procyclicality of public expenditures with terms-of-trade can be achieved with expenditure rules, and, for oil-exporters, revenue rules (althoug limited data on the latter calls for taking the results cautiously). To improve non-resource fiscal balances, debt...
Tax Revenue Mobilization Episodes in Emerging Markets and Low-Income Countries: Lessons from a New Dataset
How do countries mobilize large tax revenue—defined as an average increase in the tax-to-GDP ratio of 0.5 percent per year over three years or more? To answer this question, we build a novel dataset covering 55 episodes of large tax revenue mobilization in low-income countries and emerging markets. We find that: (i) reforms of indirect taxes and exemptions are the most common tax policy measures; (ii) multi-pronged tax administration reforms often go hand in hand with tax policy measures or are stand alone; and (iii) sustainability of the episodes hinges on tax administration reforms in the key compliance areas (risk-based audits, registration, filing, payment, and reporting).
How to Adjust to a Large Fall in Commodity Prices
Resource-rich countries have to manage highly volatile commodity revenues. In periods of revenue booms there is a tendency for large spending scale-ups. When facing large and persistent reductions in commodity prices, some of these countries will need to adjust their budgets to the new reality. In many cases, overall surpluses turn into large fiscal deficits and borrowing costs tend to rise with the fall in commodity prices. This note discusses how to undertake large fiscal adjustments, which often tend to be protracted and with long-lasting impacts on growth. Consequently, the note also highlights how to better prepare for future booms and busts in commodity prices.
Case Studies in Tax Revenue Mobilization in Low-Income Countries
How can Low-Income Countries (LICs) enhance tax revenue collection to finance their vast development needs? We address this question by analyzing seven tax reform experiences in LICs (Burkina Faso, The Gambia, Maldives, Mauritania, Rwanda, Senegal, and Uganda). Three lessons stand out, although reforms must be tailored to individual circumstances: (i) Tax reforms require first and foremost political commitment and buy-in from key stakeholders; (ii) Countries that pursue both revenue administration and tax policy reforms tend to see much larger and persistent gains; and (iii) A successful strategy often starts with fiscal reform measures with immediate effect to build momentum. These can include: simplifying the tax system; curbing exemptions; reforming indirect taxes on goods and services (e.g., excises); and better managing compliance risks through strengthening taxpayer segmentation (often beginning with strengthening the Large Taxpayers Office). A comprehensive reform strategy (e.g., a medium-term revenue strategy) can help to properly sequence reform measures and facilitate their implementation.
Official Directory of the European Union 2008
With over 11,000 names listed, the Officical directory of the European Union is indispensible for knowing whom to contact, and where, in the institutions, agencies and bodies of the Eurpean Union.
The Consultant
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Universal Basic Income: Debate and Impact Assessment
This paper discusses the definition and modelling of a universal basic income (UBI). After clarifying the debate about what a UBI is and presenting the arguments in favor and against, an analytical approach for its assessment is proposed. The adoption of a UBI as a policy tool is discussed with regard to the policy objectives (shaped by social preferences) it is designed to achieve. Key design dimensions to be considered include: coverage, generosity of the program, overall progressivity of the policy, and its financing.
