Public finances

This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. There are strong similarities between the French and French-inspired African PEM systems in terms of the legal setting, rules, and procedures. However, there are differences in practice, particularly in accounting and reporting, audit, and external control. Among the African countries themselves, there are many common features but also marked differences in audit and external control.

Soaring food and energy prices sparked the revolts in Northern African countries at the end of 2010. Despite government subsidies, consumer price inflation rose, which reduced consumers' purchasing power. This article empirically investigates the impact of world food prices on inflation and government subsidies for Algeria, Egypt, Israel, Jordan, Lebanon, Morocco, the occupied Palestinian territories and Tunisia during the ten-year period 2002-2011. Our findings show an asymmetry in the response of consumer price inflation to world food price shocks, in that soaring world food prices made inflation rise fast while nominal rigidities prevented inflation from falling. Moreover, this paper shows that government balances deteriorated up to 2% of GDP in 2008 and 2011 due to the incremental government food subsidies while they hardly improved in value terms when world food prices sharply fell in 2009.

Plan :
I. De l'impératif d'adopter "la règle d'or" ?
(A. Les "précurseurs" : Allemagne et Royaume-Uni ; B. Les "convertis" : Espagne, Italie et France) ;
II. De l'impératif d'une meilleure discipline budgétaire
(A. Les insuffisances de la règle d'or ; B. Le plan européen et ses limites)

In the period between 1835 and 1931 the Rothschild House established one of the most complex and influential business networks in Spanish economic history. This network controlled a wide range of activities, including financial services for the Spanish Government and the Bank of Spain, as well as the management of industrial, mining and railway firms. Instances of these firms are Rio Tinto Co., Société Minière et Metallurgique Peñarroya, MZA railway company and Deutsch & Cie, which was the main oil refining firm in Spain at the end of the 19th century.

The study examined the impact of government debt on economic growth through extensive review of relevant theoretical and empirical literature. Governments borrow to cover budget deficits. The debt is obtained either from the domestic market or from external sources. Government debt by Greece proved to be bad for the economy while government debt by USA which has the highest debt in the world proved to be manageable. This led to the need to examine the impact of government debt on economic growth in Kenya. The major theories examined included Adolph Wagner's law of increasing state activity, the debt overhang theory, crowding out theory and the Ricardian equivalence theory. The main objective of the critical literature review was to review the literature done on the impact of government debt on economic growth while the specific objectives were to examine the impact of government debt on economic growth, to investigate the effects of macroeconomic variables on the relationship between government debt and economic growth, to establish the effects of regulatory reforms on the relationship between government debt and economic growth, and to review the joint effect of macroeconomic variables and regulatory reforms on government debt and economic growth. The majority of the findings from the literature reviewed on government debt indicated that there was an impact of government debt on economic growth; some showed a positive economic growth while others showed a negative economic growth.

Armenia's strong economic growth from 2001-2008, when real gross domestic product (GDP) grew 12.6 percent per year on average, boosted living standards and created the fiscal headroom necessary for the Government to respond to the 2009 financial crisis with a large fiscal stimulus. As a result, the fiscal deficit reached 7.6 percent in 2009 and helped limit the contraction in real GDP to 14 percent. With the economy growing again, the stimulus has to be gradually withdrawn. However, the retrenchment will need to be designed carefully to limit negative impact on growth. Improving the efficiency of all aspects of public finances - tax policy, tax administration, and public expenditures - will be crucial to the planned fiscal adjustment. With the ratio of tax revenues to GDP lower than that of comparator countries with similar levels of income per capita, the brunt of the fiscal consolidation should be borne by an increase in tax revenues (the lower bound estimated to be between 2....

The World Bank Research Observer is intended for anyone who has a professional interest in development. Observer articles are written to be accessible to nonspecialist readers; contributors examine key issues in development economics, survey the literature and the latest World Bank research, and debate issues of development policy. Articles are reviewed by an editorial board drawn from across the Bank and the international community of economists. Inconsistency with Bank policy is not grounds for rejection.

One of the key issues at metropolitan level is the provision of public services and this paper highlights the importance of understanding the governance of public services in the context of increasing urbanization and decentralization. This paper provides a comparative analysis on metropolitan governance in Latin America by analysing specific case studies. The objective is to identify how the governance setting in metropolitan areas shapes the process and the results of providing public services to wider population. We examine metropolitan governance by employing a 3x3x3 model as a framework for addressing key issues about urban services delivery. Bogota, Lima and Mexico City are the metropolitan areas selected. Secondly, we focus on three sectors: transport, solid waste collection and water. Finally, the analysis focuses in three aspects of governance: coordination, financial sustainability and coverage and quality. The data collection process involved field research in Bogota, Lima and Mexico City.

Resumen:
Para el Estado colombiano algunos municipios han sido ineficientes en el manejo, evaluación, control de las finanzas públicas y su desempeño fiscal, motivo por el cual se aborda el tema de la importancia  sobre estructuración, fortalecimiento y saneamiento fiscal y financiero de los municipios del departamento de  Antioquia. La presente investigación tiene como propósito el realizar un diagnóstico a los factores que están afectando el desempeño fiscal de los municipios de Antioquia, en especial a Cocorná, lo que va en contravía de los procesos gubernamentales; afectando significativamente la inversión social. Así pues, se evalúa el riesgo que corren algunos municipios de Antioquia de perder la categoría por su bajo desempeño en la administración de la hacienda pública, ya que dejan por fuera la optimización y la maximización de los recursos y el patrimonio  público, debilitando la estabilidad de las finanzas públicas como herramienta para la gestión.

Abstract:
For the Colombian Government some municipalities have been inefficient managing, evaluating, and controlling its public finances and fiscal performance; for this reason, this article presents the importance about structuring, strengthening, fiscal consolidation and financial reconstruction of municipalities of the  Department of Antioquia. The present investigation has the purpose to make a diagnosis of the factors that affect the fiscal performance in the municipalities of Antioquia, especially Corcorná. Such fiscal performance  goes against the governmental processes; affecting significantly social investment. Thus, this article evaluates the risk that some municipalities of Antioquia run of lose the category for its underperforming in the management of the public purse, considering that they are leaving out the optimization and maximization of the resources and public heritage, debilitating the stability of the public finances as a tool for management.

L'œuvre de Gabriel ARDANT reste largement ignorée aujourd'hui, ce qui est regrettable. En effet, l'analyse de ses ouvrages fait apparaître un esprit curieux, attaché à comprendre le fonctionnement des Etats modernes, dans la perspective jamais perdue de vue de participer concrètement au redressement de la France après la Seconde Guerre Mondiale. La variété et le caractère pluridisciplinaire des perspectives adoptées témoignent de l'ouverture d'esprit qu'il a cherché à manifester dans ses travaux, et sont à ce titre un exemple à méditer, ne fut-ce que sur le plan méthodologique. De même, la rigueur des diagnostics portés sur les causes et les manifestations des difficultés économiques et financières de la France à travers l'histoire lointaine et récente doit être portée à son crédit, et ses exposés ne manquent pas de frapper le lecteur par leur lucidité .
Gabriel ARDANT a toujours eu conscience de travailler dans un contexte bien spécifique, historiquement situé, et à ce titre à la fois irréductible aux conditions passées et pas nécessairement pertinent pour l'avenir. De fait, bien que sa collaboration avec Pierre MENDES-FRANCE l'ait amené à se rapprocher de l'arène politique, elle ne l'a jamais fait verser dans le dogmatisme. Cette absence de dogmatisme est certainement l'une des marques de son œuvre, mais elle est peut-être aussi l'une des raisons pour lesquelles cette dernière a tellement eu de mal à franchir le cap des générations…


Plan :
I. Une analyse approfondie de l'impôt comme moyen d'action privilégié de l'Etat
A. L'impôt, un instrument libéral ?
B. Système fiscal et politique fiscale
II. Une prise en compte globale des conditions de l'action publique
A. Les modalités de l'intervention de l'Etat dans la société
B. Les conditions d'une gestion publique efficace

The Independent Evaluation Group is an independent unit within the World Bank Group; it reports directly to the Bank's Board of Executive Directors. IEG assesses what works, and what does not; how a borrower plans to run and maintain a project; and the lasting contribution of the Bank to a country's overall development. The goals of evaluation are to learn from experience, to provide an objective basis for assessing the results of the Bank's work, and to provide accountability in the achievement of its objectives. It also improves Bank work by identifying and disseminating the lessons learned from experience and by framing recommendations drawn from evaluation findings.

By the importance of inventories in companies (commercial, services, extractive or transformation) and their effect on the financial statements, it is important to understand the recognition and measurement of the accounting base under the new regulatory frameworks and the fiscal base of agreement. to tax regulation, to determine the cost of inventories.

The International Financial Reporting Standards (IFRS), mark the independence between the accounting and fiscal regulations, with the tax reform  law 1819 of December 2016, the tax administration issues the tax bases that must be taken into account as of 1 January 2017, harmonizing taxation with the accounting technique and establishing the guidelines for its reconciliation in cases where the tax treatment differs from the accounting technique. The document conducts a study of the differences between the recognition and measurement of Inventories in accordance with IFRS and tax regulations, as well as the tax exceptions to the alternatives for measuring the accounting technique and the application of the deferred tax in accordance with the NIIF when you require it.

In the period between 1835 and 1931 the Rothschild House established one of the most complex and influential business networks in Spanish economic history. This network controlled a wide range of activities, including financial services for the Spanish Government and the Bank of Spain, as well as the management of industrial, mining and railway firms. Instances of these firms are Rio Tinto Co., Société Minière et Metallurgique Peñarroya, MZA railway company and Deutsch & Cie, which was the main oil refining firm in Spain at the end of the 19th century.

Complete document available on OLIS in its original format This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. ECO/WKP(2014)16 Unclassified English-Or. English ECO/WKP(2014)16 2 OECD Working Papers should not be reported as representing the official views of the OECD or of its member countries. The opinions expressed and arguments employed are those of the author(s). Working Papers describe preliminary results or research in progress by the author(s) and are published to stimulate discussion on a broad range of issues on which the OECD works. Comments on Working Papers are welcomed, and may be sent to the Economics Department, OECD,

This research has the general objective to review the implementation of the new nine basic generally accepted accounting principles. The inquiry is analytical-explanatory documentary, and books, international accounting research journals, abstracts and Web pages bibliographic synthesis. The main finding shows that high quality standards are geared to the investor, give priority to financial economics from the consensus reached by different theoretical approaches developed in recent decades, validated by business practice and intended to reflect the economic substance of operations, and to present a true and fair view of the financial position of the company. IFRS are issued by the International Accounting Standards Board (IASB), (former International Accounting Standards Committee).

This paper considers the relationship between institutional quality, educational outcomes, and economic performance. More specifically, it seeks to establish the linkages by which government effectiveness affects per capita income, via its mediating effect on human capital formation. The empirical approach adopts a two-stage strategy that estimates nationallevel educational production functions that include government effectiveness as a covariate, and then uses This paper is a product of the Global Modeling and Analytics Unit, Development Prospects Group. It is part of a larger effort by the World Bank to provide open access to its research and make a contribution to development policy discussions around the world. Policy Research Working Papers are also posted on the Web at http://econ.worldbank.org. The authors may be contacted at [email protected] and [email protected]. these estimates as instruments for human capital in crosscountry regressions of per capita income. The results identify a significant and positive effect of human capital on per capita income levels, and partially resolves the inconsistency between macro-and micro-level studies of the effect of human capital on income. The results also remain robust to alternative specifications, extension to a panel setting, subsamples of the data, and fully endogenous institutions.

RESUMENEste trabajo intenta analizar el papel que desempeñaron los capitales movilizados por la Casa de banca Rothschild en la financiación de los gastos del Estado español durante el Siglo XIX. Por lo tanto, se pretende aportar una cronología elemental de las relaciones de la Casa Rothschild con las finanzas públicas españolas durante todo el periodo, analizar las operaciones más significativas, cuantificar su volumen anual agregado y hacer un mínimo acercamiento a las variables coste-beneficio que entraron enjuego. Para cubrir estos fines se ha contado con fuentes primarias, localizadas en los archivos de las ramas británica y francesa de los Rothschild, cuyos fondos se han contrastado con los de la Administración francesa y española y de instituciones financieras claves en el periodo, como el Banco de España.

This paper attempts to provide an overview on measures to promote the mexican federal government, on the enterprise. For documentary research which was conducted in order to prepare a study on entrepreneurship development programs, then it presents a description of the current situation and try to determine the impact through the development of indicators GEM Mexico. Among the most important findings it can be noted that despite the best efforts to encourage entrepreneurship in recent years, this has not had a major effect showing a low growth of TEA (rate of entrepreneurship), compared with countries Latin Americans.

The Latin America and the Caribbean region (LAC) has seen a "decade of convergence". During the last decade, LAC countries have exhibited high growth rates and recovered quickly after the global financial crisis. The region benefited from favorable external conditions, in particular high commodity prices, and relatively loose financial conditions, especially in the United States. LAC had considerably lost ground vis-à-vis US income levels from 1980 until the early 2000s, but has converged somewhat to the US level since. Growth in LAC was thus not only higher in this period than before but also higher than in the United States (and many advanced economies), hence constituting a 'decade of convergence'.

After entering the EU in 1986, Portugal benefited from low interest rates and some growth momentum. However, the difficulty in taming fiscal imbalances, the pro-cyclicality of fiscal policy, the use of extraordinary fiscal measures, coupled with the 2008-2009 economic and financial crisis led to a fiscal débacle and to an international financial rescue in 2011. We briefly review here those developments.

The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.