Publication:
Bhutan Macroeconomic and Public Finance Policy Note: Hydropower Impact and Public Finance Reforms towards Economic Self-Reliance

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dc.contributor.authorBoyreau, Genevieve
dc.contributor.authorRama, Martin
dc.date.accessioned2016-06-22T15:20:38Z
dc.date.available2016-06-22T15:20:38Z
dc.date.issued2015-11
dc.description.abstractBhutan’s hydropower generation potential raises the prospect of tremendous development opportunities for the country: fast increasing export revenue, sustained economic growth, and rapid poverty reduction. Driven by developments in the hydropower sector, the country has grown at an average rate of 7 percent per year over the last decade, while poverty has declined remarkably fast. But hydropower development also creates significant challenges as follows: (i) macroeconomic instability; (ii) lack of self-reliance; and (iii) few private sector jobs. This policy note assesses the opportunities and challenges associated with hydropower development. It informs a possible strategy supportive of macroeconomic stability, fiscal self-reliance and private sector development. And it argues that fundamental changes in public finance, amounting to a paradigm shift, are central to the implementation of such strategy.en
dc.identifierhttp://documents.worldbank.org/curated/en/2016/06/26470913/
dc.identifier.doi10.1596/24581
dc.identifier.urihttps://hdl.handle.net/10986/24581
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectDEFICIT
dc.subjectMONETARY POLICY
dc.subjectHOLDING
dc.subjectBORROWER
dc.subjectEQUIPMENT
dc.subjectECONOMIC GROWTH
dc.subjectPRIVATE SECTOR PARTICIPATION
dc.subjectACCOUNTING
dc.subjectDEMAND FOR CREDIT
dc.subjectPUBLIC PROCUREMENT
dc.subjectFOREIGN INVESTORS
dc.subjectOLD-AGE PENSION
dc.subjectINTEREST
dc.subjectPUBLIC INVESTMENTS
dc.subjectPUBLIC SECTOR
dc.subjectGOVERNMENT SPENDING
dc.subjectINTEREST RATE
dc.subjectOPTION
dc.subjectEXCHANGE
dc.subjectSPENDING
dc.subjectPUBLIC SECTOR WORKFORCE
dc.subjectSERVICES
dc.subjectDEVELOPING COUNTRIES
dc.subjectTAX COLLECTION
dc.subjectREAL INTEREST
dc.subjectHOUSING
dc.subjectREVENUES
dc.subjectFISCAL POLICY
dc.subjectFINANCIAL STATEMENTS
dc.subjectLOAN
dc.subjectREPAYMENT PERIOD
dc.subjectPRICING
dc.subjectTAX
dc.subjectINCOME TAX
dc.subjectBUDGETING
dc.subjectINFORMATION SYSTEMS
dc.subjectINFLATION
dc.subjectPENSION
dc.subjectDEBT BURDEN
dc.subjectINSTRUMENTS
dc.subjectDEBT INTEREST
dc.subjectBUDGET
dc.subjectPUBLIC SECTOR COMPENSATION
dc.subjectMACROECONOMIC STABILITY
dc.subjectFISCAL POLICIES
dc.subjectCONTRACTS
dc.subjectPERSONAL INCOME
dc.subjectTAX REGIME
dc.subjectTRADING
dc.subjectTAX EXEMPTIONS
dc.subjectRECURRENT EXPENDITURES
dc.subjectOPTIONS
dc.subjectINVESTMENT FUNDS
dc.subjectDEBT
dc.subjectMARKETS
dc.subjectFORECASTING
dc.subjectHOUSEHOLD INCOME
dc.subjectRETURN
dc.subjectPUBLIC PROPERTY
dc.subjectPUBLIC FINANCE
dc.subjectBUSINESS CYCLE
dc.subjectMACROECONOMIC FLUCTUATIONS
dc.subjectLABOR
dc.subjectLOANS
dc.subjectREAL INTEREST RATE
dc.subjectPER
dc.subjectASSET CLASSES
dc.subjectCAPITAL INVESTMENTS
dc.subjectDEBT SERVICE
dc.subjectPENSION FUNDS
dc.subjectSUBSIDIES
dc.subjectMONETARY AUTHORITY
dc.subjectFINANCE
dc.subjectGRANTS
dc.subjectPUBLIC
dc.subjectPUBLIC INVESTMENT
dc.subjectINFRASTRUCTURE
dc.subjectTAXES
dc.subjectFIXED EXCHANGE RATE
dc.subjectFISCAL DEFICIT
dc.subjectHEALTH SPENDING
dc.subjectINVESTMENT DECISIONS
dc.subjectEXPENDITURE
dc.subjectTRANSACTIONS
dc.subjectEQUITY
dc.subjectCREDIT EXPANSION
dc.subjectINVESTORS
dc.subjectMACROECONOMIC INSTABILITY
dc.subjectGOOD
dc.subjectTAX RATE
dc.subjectTRANSPARENCY
dc.subjectPUBLIC EXPENDITURE
dc.subjectBUDGET SURPLUS
dc.subjectFUTURE
dc.subjectELECTRICITY
dc.subjectRETURNS
dc.subjectBUDGETS
dc.subjectINVESTMENT PROJECTS
dc.subjectPUBLIC EXPENDITURES
dc.subjectBUDGET IMPLICATIONS
dc.subjectREPAYMENT
dc.subjectGOVERNMENT REVENUE
dc.subjectEXPENDITURES
dc.subjectPUBLIC TRANSPORT
dc.subjectECONOMIC EFFICIENCY
dc.subjectAMORTIZATION
dc.subjectPROPERTY
dc.subjectBIDS
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectTAX RATES
dc.subjectHOUSING PRICES
dc.subjectPRIVATE SECTOR
dc.subjectPUBLIC SECTOR DEFICIT
dc.subjectREAL EXCHANGE RATE
dc.subjectDEFAULT
dc.subjectMARKET
dc.subjectFOREIGN EXCHANGE
dc.subjectTAX REVENUE
dc.subjectMANAGEMENT
dc.subjectROADS
dc.subjectINFRASTRUCTURE INVESTMENTS
dc.subjectTAXATION
dc.subjectPUBLIC SECTOR EMPLOYMENT
dc.subjectGOODS
dc.subjectLAND
dc.subjectLOCAL ECONOMIES
dc.subjectSECURITY
dc.subjectINVESTMENT
dc.subjectCOMMERCIAL BANKS
dc.subjectSHARE
dc.subjectIMMOVABLE PROPERTY
dc.subjectINVESTMENT CLIMATE
dc.subjectTAX SYSTEM
dc.subjectPOVERTY
dc.subjectINTERNATIONAL STANDARD
dc.subjectFISCAL BALANCE
dc.subjectCAPITAL INFLOWS
dc.subjectREVENUE
dc.subjectEXTERNAL DEBT
dc.subjectINVESTMENTS
dc.subjectDEGREES OF RISK
dc.subjectLEGAL OBLIGATIONS
dc.subjectDEBT REPAYMENT
dc.subjectIMPLICIT TAX
dc.subjectAMOUNT OF DEBT
dc.subjectFISCAL DISCIPLINE
dc.subjectEXCHANGE RATE
dc.subjectPUBLIC SPENDING
dc.subjectPUBLIC SERVICE
dc.subjectPAYMENT SYSTEMS
dc.subjectSMALL BUSINESSES
dc.subjectDEVELOPMENT BANK
dc.subjectINCOME LEVEL
dc.subjectBUDGET SURPLUSES
dc.titleBhutan Macroeconomic and Public Finance Policy Noteen
dc.title.subtitleHydropower Impact and Public Finance Reforms towards Economic Self-Relianceen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleBhutan Macroeconomic and Public Finance Policy Note
okr.date.disclosure2016-06-10
okr.date.doiregistration2025-05-07T11:10:03.740394Z
okr.doctypeEconomic & Sector Work::Policy Note
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2016/06/26470913/
okr.guid211211467995430678
okr.identifier.externaldocumentum090224b0843b2492_1_0
okr.identifier.internaldocumentum26470913
okr.identifier.report106327
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2016/06/10/090224b0843b2492/1_0/Rendered/PDF/Bhutan000Macro0onomic0self0reliance.pdfen
okr.region.administrativeSouth Asia
okr.region.countryBhutan
okr.sectorEnergy and mining
okr.sectorFinance
okr.themeEconomic management :: Macroeconomic management
okr.themeEconomic management :: Debt management and fiscal sustainability
okr.themeSocial protection and risk management :: Improving labor markets
okr.topicPublic Sector Development::Public Sector Management and Reform
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicEnergy::Hydro Power
okr.topicMacroeconomics and Economic Growth::Financial Economics
okr.unitGMF South Asia Indonesia (GMF06)
relation.isAuthorOfPublication10ae4f7d-00f2-5094-bedc-333c3ad8abe7
relation.isAuthorOfPublication.latestForDiscovery10ae4f7d-00f2-5094-bedc-333c3ad8abe7
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