First, we confirm that consolidation programs imply a stronger reduction of the public debt ratio when they rely mainly on spending cuts, except public investment. Government wage bill cuts, however, only contribute to lower public debt ratios when public sector efficiency is low. Second, we find...
Carefully-designed medium-term consolidation is key to address debt sustainability risks while supporting growth. Some countries need to phase out untargeted fiscal support more quickly, prioritize spending, and improve its efficiency, while others may need additional revenue-enhancing measures. Growth-...
Fiscal consolidationgovernment consumptiongovernment investmentE62H50In response to increasing debt paths, governments often implement fiscal consolidation programs. This paper studies the impact of these programs on the composition of government spending. System-GMM estimations performed on a sample of 53 ...
Population ageing is putting pressure on the public debt-to-GDP ratios of European Union countries, both by raising net public expenditures and by lowering potential growth. To keep debt ratios under control and to comply with EU fiscal rules, EU countries will need to run sufficiently high stru...
The Malaysia Digital Economy Corporation consolidates cloud-based apps, speeds up innovation and reduces technical debt with OutSystems.
“Newly Established Bank”), where all assets and liabilities of each Consolidating Bank are transferred by operation of law into the Newly Established Bank and each Consolidated Bank dissolves by law, there are no differences between “undertaking” or “accepting” a consolidation and each bank ...
, Market News International, and Reuters Public finance and fiscal policy announcements from Italian government members: +1 if the announcement signals a future deterioration (budget improvements), 0 if the announcement is budget-neutral, −1 if the announcement signals a future budget consolidation....
Election,Events & Programs,Online,Projects,Society,Voters Leading AML Service Integrates Full Electoral Register June 1, 2009 The full2009 Electoral Registerhas now been integrated into the Tracesmart anti-money laundering (AML) identity check service. The inclusion of the full 2009ÂElectoral Registe...
and the accompanying empire-building. The topic of correcting obese or ill-structured regulation is beyond the scope of this paper, but it is worth mentioning that despite the consolidation of many government programs and departments, the regulatory regime may greatly inhibit the full potential of ...
but certainly there’s a greater and greater recognition that pure fiscal consolidation of the kind that Jamaica did is actually so bad for growth that, you know, the cure is worse than the disease or it worsens the disease. That the easiest way to get out of a debt crisis is to grow...