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With slow growth and high inequality Mexico needs investments in infrastructure, education and social policies. Mexico has increased spending in all of these areas. This was easily financed thanks to fiscal reforms in 2007 and 2009 as well as high...
Substantial fiscal consolidation was achieved under the aegis of the 2003 Fiscal Responsibility and Budget Management Act. While deficits widened anew in 2008 and 2009, against the backdrop of the global financial and economic crisis, efforts to...
The global economic and financial crisis exacerbated the need for fiscal consolidation in many OECD countries. Drawing lessons from past episodes of fiscal consolidation, this paper investigates the economic environments, political settings and...
The economic and financial crisis was the catalyst for a fiscal crisis that engulfs many OECD countries. In most countries, budget deficits soared as a result of the economic slump, weaker revenues and the policy response to the crisis. Consolidating...
OECD countries face daunting fiscal challenges following the substantial surge in debt-GDP ratios during the past four years, from already high levels in many cases. Fiscal consolidation is now the order of the day, and it takes on greater urgency...
During the economic and financial crisis, fiscal positions across the OECD countries deteriorated sharply. This raises the question of what level of primary deficit would ensure long-term sustainability and what degree of consolidation is needed. The...
On 11 March 2011, Japan endured one of the worst natural disasters in its history when a massive earthquake struck the Pacific coast of the country and was followed by a tsunami which led to considerable loss of lives. It also led to a major ...
French
This paper is the first IEA analysis that focuses on country-specific trends, opportunities and challenges for carbon capture and storage (CCS). It follows previous IEA publications on CCS and studies on cleaner coal and advanced coal technologies....
This paper provides an analysis of large and sustained fiscal consolidation episodes in OECD countries implemented between 1980 and 2000. It reviews how fiscal policy variables evolved during these episodes, how consolidation was influenced by the...
This paper looks at various aspects of fiscal consolidation in 18 OECD economies. The prospects for fiscal consolidation depend upon the problems the country may face with its debt stock, the political will to deal with these problems and on the...
This issue of Financial Market Trends compiles, as always, the articles that have been released online over the past few months. It features, as Part I, selected articles based on presentations given at the Symposium on “Financial crisis management ...
This article argues the case for a policy of “anchored flexibility” in the form of a flexible fiscal rule that allows for the pursuit of economic stability but always anchors that pursuit in fiscal sustainability. The rule is explicitly structured ...
The economic and financial crisis was the catalyst for a fiscal crisis that engulfs many OECD countries. Consolidating public finances in order to address the consequences of the crisis, underlying weaknesses and also future spending pressures...
French
At the 2009 Pittsburgh Summit, G20 leaders requested an analysis of the scope of energy subsidies and suggestions regarding how they may be phased out and rationalised. This report responds to this request by identifying and measuring fuel tax...
The Africa Partnership Forum (APF) was established in 2003 following the G8 Summit in Evian, as a way of extending existing dialogue between G8 countries and New Partnership for Africa’s Development (NEPAD) to include Africa’s major bilateral and ...
Savings and investments by individuals are important both for personal financial well-being and for economic growth. Many governments try to encourage their citizens to save more, or to save more appropriately, by preferring formal institutions to...
This paper presents an overview of practices and challenges related to financing green sustainable cities. Cities are essential actors in stimulating green infrastructure; and urban finance is one of the promising ways in which this can be achieved....
The global policy discourse and the war on terror tend to ignore the wide variety of roles and agendas of non-state armed groups (NSAGs), viewing them primarily as threats to security, negative for peace and as important spoilers that can undermine...
This report examines the convergence of fixed and mobile (wireless) networks and services. It considers these developments against a long standing question of whether they are complementary or competitive. The report concludes that they are both....
The global economic and financial crisis exacerbated the need for fiscal consolidation in many OECD countries. Drawing lessons from past episodes of fiscal consolidation, this study investigates the economic environments, political settings and ...
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