Quality of Macro-Fiscal Frameworks in Development Policy Operations

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 o...

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Bibliographic Details
Main Author:	Independent Evaluation Group
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2015
Subjects:	FISCAL DEBT DEFICIT EXPENDITURE PROGRAM GOVERNMENT EXPENDITURES SUSTAINABILITY ANALYSIS FISCAL ARRANGEMENTS ACCOUNTING EXPENDITURE FRAMEWORKS FINANCIAL MANAGEMENT PROGRAM REVIEWS MACROECONOMIC MANAGEMENT SECTORAL OBJECTIVES MEDIUM-TERM EXPENDITURE PUBLIC SECTOR PRUDENT FISCAL MANAGEMENT PROGRAM IMPLEMENTATION GOVERNMENT SPENDING INTEREST RATE SECTOR PROGRAMS MACROECONOMIC POLICY RESOURCE ALLOCATION PROGRAMS DEBT MANAGEMENT SERVICES TAX BASES HEALTH CARE FISCAL POLICY BUDGET SUPPORT INCENTIVES MACROECONOMIC FRAMEWORK ECONOMIC POLICY FISCAL ANALYSIS FISCAL RISK CONDITIONALITY GOVERNMENT GUARANTEES PUBLIC FINANCIAL MANAGEMENT INDEPENDENT ASSESSMENT FISCAL FRAMEWORKS BUDGET POVERTY REDUCTION MEDIUM-TERM EXPENDITURE FRAMEWORK FISCAL CRISIS MACROECONOMIC STABILITY STABILIZATION POLICY MEDIUM-TERM EXPENDITURE FRAMEWORKS DIAGNOSTIC WORK FISCAL RULES PUBLIC EXPENDITURE POLICY POVERTY REDUCTION SUPPORT SECTORAL POLICY EXPENDITURE FRAMEWORK NATURAL DISASTERS PUBLIC PRIVATE PARTNERSHIPS CIVIL SERVICE REFORM DEBT PENSION REFORM FISCAL RISKS TAX BASE PUBLIC FINANCE EXPENDITURE MANAGEMENT STRUCTURAL REFORMS SOCIAL SECURITY SOCIAL PROTECTION FISCAL TARGETS FISCAL EXPENDITURE PUBLIC EXPENDITURE REVIEW ARTICLE NATURAL RESOURCES GROSS DOMESTIC PRODUCT TAXES CONTINGENT LIABILITY FISCAL DEFICIT EXPENDITURE SOCIAL SAFETY NETS OUTCOME INDICATORS FISCAL FRAMEWORK PUBLIC EXPENDITURE FISCAL SIDE FINANCIAL CRISIS FISCAL OBJECTIVES GOVERNMENT GUARANTEE SUSTAINABILITY OF REFORMS DIVISION OF LABOR CENTRAL GOVERNMENT MEDIUM TERM EXPENDITURE FRAMEWORK PUBLIC EXPENDITURES INTEREST SUBSIDY EXPENDITURES EXPENDITURE POLICY HIGHER GOVERNMENT SPENDING TAX EVASION PUBLIC SECTOR REFORM FISCAL COST PRIVATE SECTOR FISCAL ADJUSTMENTS FISCAL IMBALANCE SOCIAL POLICIES REFORM AGENDA FISCAL SUSTAINABILITY PUBLIC SECTOR EMPLOYMENT FISCAL ADJUSTMENT GROWTH RATE FISCAL PRUDENCE PUBLIC EXPENDITURE MANAGEMENT MINISTRY OF FINANCE FISCAL MANAGEMENT FISCAL REFORM CORRECTIVE ACTION FINANCIAL MARKETS BUDGET SUPPORT OPERATIONS ALLOCATION MEDIUM-TERM FISCAL FRAMEWORK FISCAL ACTIONS FISCAL BALANCE PERFORMANCE ASSESSMENT EXTERNAL SHOCKS EXTERNAL DEBT TAX POLICY FINANCIAL SUPPORT ANNUAL RATE REFORM PROGRAM FISCAL PROGRAM MACROECONOMIC POLICIES EXCHANGE RATE DEBT SUSTAINABILITY FINANCIAL SECTOR OUTCOMES CIVIL SERVICE CAPITAL FLIGHT FISCAL POSITION MEDIUM TERM EXPENDITURE COMPETITION
Online Access:	http://documents.worldbank.org/curated/en/2015/07/24746381/quality-macro-fiscal-frameworks-development-policy-operations-ieg-learning-product http://hdl.handle.net/10986/22381

Description
Summary:	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.

Quality of Macro-Fiscal Frameworks in Development Policy Operations

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