Creating and Using Fiscal Space for Accelerated Development in Liberia
collection.link.5 |
https://openknowledge.worldbank.org/handle/10986/9
| |
collection.name.5 |
Policy Research Working Papers
| |
dc.contributor.author |
Lofgren, Hans
| |
dc.date.accessioned |
2014-02-04T20:37:53Z
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dc.date.available |
2014-02-04T20:37:53Z
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dc.date.issued |
2013-10
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dc.date.lastModified |
2017-12-14T09:03:51Z
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dc.description.abstract |
This paper presents simulations for the
period 2013-2030 of measures that permit increased spending
on infrastructure and human development, the priority areas
in Liberia's 2013-2017 "Agenda for
Transformation" and for its national vision, Liberia
Rising 2030. The simulations are carried out with a Liberian
version of MAMS (Maquette for Millennium Development Goals
Simulations), a Computable General Equilibrium model.
According to the results, among the key sources of fiscal
space, foreign grants generate the best outcomes followed by
improved government allocative efficiency. Taxes tend to
involve trade-offs since they reduce resources for private
consumption and investment, both of which tend to contribute
to stronger macro and Millennium Development Goals
performance. Increased foreign borrowing is less attractive
since, in order to make a substantial difference, it would
quickly add to the foreign debt, making the economy more
crisis-prone and less flexible. The preferred balance
between different uses of fiscal space depends on payoffs
from different government functions, typically unknown or
only appearing with a lag. Under the parameters used in the
simulations, determined in light of fragmentary evidence,
the outcomes were marginally stronger under a balanced
approach with scaling up of both infrastructure and human
development services. Balanced expansion may also contribute
to efficiency and be easier for political reasons. A final
finding is that it is possible to consider fiscal space
issues in isolation from the mining sector: simulations
suggest that the marginal effects of creating additional
fiscal space are very similar irrespective of the level of
mining export prices.
| en |
dc.identifier |
http://documents.worldbank.org/curated/en/2013/10/18446608/creating-using-fiscal-space-accelerated-development-liberia
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dc.identifier.uri |
http://hdl.handle.net/10986/16893
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dc.language |
English
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dc.language.iso |
en_US
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dc.publisher |
World Bank, Washington, DC
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dc.relation.ispartofseries |
Policy Research Working Paper;No. 6678
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dc.rights |
CC BY 3.0 IGO
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dc.rights.holder |
World Bank
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dc.rights.uri |
http://creativecommons.org/licenses/by/3.0/igo/
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dc.subject |
ACCOUNTING
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dc.subject |
ADMINISTRATIVE COSTS
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dc.subject |
AGRICULTURAL SECTORS
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dc.subject |
AGRICULTURE
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dc.subject |
BALANCE OF PAYMENTS
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dc.subject |
BANK POLICY
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dc.subject |
BUDGET
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dc.subject |
BUDGET CONSTRAINT
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dc.subject |
BUDGET CONSTRAINTS
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dc.subject |
BUDGETS
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dc.subject |
CAPITAL
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dc.subject |
CAPITAL ACCOUNT
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dc.subject |
CAPITAL ACCUMULATION
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dc.subject |
CAPITAL STOCK
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dc.subject |
CAPITAL STOCKS
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dc.subject |
COMMODITIES
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dc.subject |
COMMODITY
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dc.subject |
CONSUMPTION
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dc.subject |
CREDIT
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dc.subject |
CREDIT FACILITY
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dc.subject |
CURRENT ACCOUNT
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dc.subject |
CURRENT ACCOUNT DEFICIT
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dc.subject |
DATA AVAILABILITY
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dc.subject |
DEBT
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dc.subject |
DEBT CAPITAL
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dc.subject |
DEBT INTEREST
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dc.subject |
DEBT STOCKS
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dc.subject |
DEMAND CURVES
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dc.subject |
DEVELOPING COUNTRY
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dc.subject |
DEVELOPMENT
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dc.subject |
DEVELOPMENT ECONOMICS
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dc.subject |
DEVELOPMENT POLICIES
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dc.subject |
DEVELOPMENT POLICY
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dc.subject |
DEVELOPMENT STRATEGY
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dc.subject |
DISPOSABLE INCOME
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dc.subject |
DOMESTIC BORROWING
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dc.subject |
DOMESTIC DEBT
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dc.subject |
DOMESTIC MARKET
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dc.subject |
DOMESTIC MARKETS
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dc.subject |
DOMESTIC PRICE
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dc.subject |
DOMESTIC PRICES
| |
dc.subject |
ECONOMIC ACTIVITIES
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dc.subject |
ECONOMIC GROWTH
| |
dc.subject |
ECONOMIC POLICY
| |
dc.subject |
ECONOMY
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dc.subject |
EDUCATION SPENDING
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dc.subject |
EDUCATIONAL ATTAINMENT
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dc.subject |
EDUCATIONAL ATTAINMENTS
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dc.subject |
ELASTICITY
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dc.subject |
EXCHANGE
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dc.subject |
EXPORTS
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dc.subject |
FACTOR DEMAND
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dc.subject |
FACTORS OF PRODUCTION
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dc.subject |
FINANCE
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dc.subject |
FINANCES
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dc.subject |
FISCAL POLICIES
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dc.subject |
FISCAL YEAR
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dc.subject |
FIXED INVESTMENT
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dc.subject |
FOREIGN DEBT
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dc.subject |
FOREIGN DEBTS
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dc.subject |
FOREIGN DIRECT INVESTMENT
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dc.subject |
FOREIGN EXCHANGE
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dc.subject |
FOREIGN GOVERNMENT
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dc.subject |
FOREIGN INTEREST
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dc.subject |
FOREIGN TRANSACTIONS
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dc.subject |
FULL EMPLOYMENT
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dc.subject |
FUTURE
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dc.subject |
GDP
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dc.subject |
GINI COEFFICIENT
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dc.subject |
GOOD
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dc.subject |
GOVERNMENT BORROWING
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dc.subject |
GOVERNMENT BUDGET
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dc.subject |
GOVERNMENT DEBT
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dc.subject |
GOVERNMENT INVESTMENT
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dc.subject |
GOVERNMENT INVESTMENTS
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dc.subject |
GOVERNMENT REVENUE
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dc.subject |
GOVERNMENT REVENUES
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dc.subject |
GOVERNMENT SPENDING
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dc.subject |
GOVERNMENTS
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dc.subject |
GRANT
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dc.subject |
GRANTS
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dc.subject |
GROSS NATIONAL SAVINGS
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dc.subject |
GROSS REVENUES
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dc.subject |
GROWTH RATE
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dc.subject |
GROWTH RATES
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dc.subject |
HOUSEHOLD
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dc.subject |
HOUSEHOLDS
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dc.subject |
HUMAN DEVELOPMENT
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dc.subject |
IMPORT TARIFFS
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dc.subject |
INCENTIVES
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dc.subject |
INCOME
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dc.subject |
INCOMES
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dc.subject |
INDUSTRY
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dc.subject |
INEQUALITY
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dc.subject |
INFLUENCE
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dc.subject |
INFORMATION SERVICES
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dc.subject |
INFRASTRUCTURE
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dc.subject |
INITIAL INVESTMENT
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dc.subject |
INPUTS
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dc.subject |
INTEREST
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dc.subject |
INTEREST PAYMENTS
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dc.subject |
INTERNAL RATES OF RETURN
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dc.subject |
INTERNATIONAL BANK
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dc.subject |
INTERNATIONAL MARKETS
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dc.subject |
INVESTMENT
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dc.subject |
INVESTMENT CLIMATE
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dc.subject |
INVESTMENT FINANCING
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dc.subject |
INVESTMENT FLOWS
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dc.subject |
INVESTMENT SPENDING
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dc.subject |
LABOR
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dc.subject |
LABOR MARKET
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dc.subject |
LAGS
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dc.subject |
LAND
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dc.subject |
LENDING
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dc.subject |
LOANS
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dc.subject |
MARGINAL PRODUCTIVITY
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dc.subject |
MARGINAL VALUE
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dc.subject |
MARKET
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dc.subject |
MARKET PRICES
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dc.subject |
MARKETS
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dc.subject |
MIDDLE-INCOME COUNTRIES
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dc.subject |
NATIONAL ECONOMY
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dc.subject |
NATURAL RESOURCES
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dc.subject |
NEGATIVE EXTERNALITIES
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dc.subject |
OPERATING SURPLUS
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dc.subject |
OPPORTUNITY COST
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dc.subject |
OPTION
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dc.subject |
OPTIONS
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dc.subject |
OUTCOMES
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dc.subject |
OUTPUT
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dc.subject |
OUTPUTS
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dc.subject |
PAYMENT
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dc.subject |
PAYMENT FLOWS
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dc.subject |
PAYMENTS
| |
dc.subject |
POLITICAL ECONOMY
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dc.subject |
POSITIVE EFFECTS
| |
dc.subject |
POVERTY
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dc.subject |
PRESENT VALUE
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dc.subject |
PRICE
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dc.subject |
PRICE CHANGE
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dc.subject |
PRICE CHANGES
| |
dc.subject |
PRICE LEVELS
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dc.subject |
PRICES
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dc.subject |
PRIVATE CAPITAL
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dc.subject |
PRIVATE INVESTMENT
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dc.subject |
PRIVATE SAVINGS
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dc.subject |
PRODUCTION
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dc.subject |
PRODUCTIVITY
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dc.subject |
PRODUCTIVITY GROWTH
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dc.subject |
PRODUCTIVITY INCREASES
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dc.subject |
PROFIT
| |
dc.subject |
PROFIT MAXIMIZATION
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dc.subject |
PROFITS
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dc.subject |
RAPID GROWTH
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dc.subject |
REAL EXCHANGE RATE
| |
dc.subject |
REAL GDP
| |
dc.subject |
REAL INTEREST
| |
dc.subject |
REAL INTEREST RATES
| |
dc.subject |
REAL SECTOR
| |
dc.subject |
RECEIPT
| |
dc.subject |
RECEIPTS
| |
dc.subject |
REMITTANCES
| |
dc.subject |
RENT
| |
dc.subject |
RETURNS
| |
dc.subject |
SAVINGS
| |
dc.subject |
SAVINGS RATE
| |
dc.subject |
SERVICES
| |
dc.subject |
SHARE
| |
dc.subject |
SHARE OF INVESTMENTS
| |
dc.subject |
SHARES
| |
dc.subject |
SMALL COUNTRY
| |
dc.subject |
STRATEGIES
| |
dc.subject |
STRUCTURAL CHANGE
| |
dc.subject |
SUPPLY CURVE
| |
dc.subject |
SUPPLY CURVES
| |
dc.subject |
SUSTAINABILITY ANALYSIS
| |
dc.subject |
TARIFFS
| |
dc.subject |
TAX
| |
dc.subject |
TAX RATE
| |
dc.subject |
TAX RATES
| |
dc.subject |
TAXATION
| |
dc.subject |
TAXES
| |
dc.subject |
TELECOMMUNICATIONS
| |
dc.subject |
THEORY
| |
dc.subject |
TOTAL FACTOR PRODUCTIVITY
| |
dc.subject |
TRADE
| |
dc.subject |
TRADE DEFICIT
| |
dc.subject |
TRANSACTIONS
| |
dc.subject |
TRANSACTIONS COSTS
| |
dc.subject |
TRANSFERS
| |
dc.subject |
TRENDS
| |
dc.subject |
TRUST FUND
| |
dc.subject |
UNEMPLOYMENT
| |
dc.subject |
UNEMPLOYMENT RATE
| |
dc.subject |
UTILITY
| |
dc.subject |
VALUE
| |
dc.subject |
VARIABLES
| |
dc.subject |
WAGES
| |
dc.subject |
WATER SUPPLY
| |
dc.subject |
WORLD DEVELOPMENT INDICATORS
| |
dc.subject |
WORLD MARKETS
| |
dc.title |
Creating and Using Fiscal Space for Accelerated Development in Liberia
| en |
okr.date.disclosure |
2013-10-01
| |
okr.doctype |
Publications & Research :: Policy Research Working Paper
| |
okr.doctype |
Publications & Research
| |
okr.docurl |
http://documents.worldbank.org/curated/en/2013/10/18446608/creating-using-fiscal-space-accelerated-development-liberia
| |
okr.globalpractice |
Macroeconomics and Fiscal Management
| |
okr.globalpractice |
Finance and Markets
| |
okr.globalpractice |
Trade and Competitiveness
| |
okr.googlescholar.linkpresent |
yes
| |
okr.identifier.doi |
10.1596/1813-9450-6678
| |
okr.identifier.externaldocumentum |
000158349_20131028091123
| |
okr.identifier.internaldocumentum |
18446608
| |
okr.identifier.report |
WPS6678
| |
okr.language.supported |
en
| |
okr.pdfurl |
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/10/28/000158349_20131028091123/Rendered/PDF/WPS6678.pdf
| en |
okr.region.administrative |
Africa
| |
okr.region.country |
Liberia
| |
okr.sector |
Public Administration, Law, and Justice::Central government administration
| |
okr.sector |
Public Administration, Law, and Justice::Law and justice
| |
okr.sector |
Public Administration, Law, and Justice::General public administration sector
| |
okr.sector |
Education
| |
okr.sector |
Health and other social services::Health
| |
okr.theme |
Public sector governance::Public expenditure, financial management and procurement
| |
okr.theme |
Rule of law
| |
okr.theme |
Social protection and risk management::Social safety nets
| |
okr.theme |
Human development::Education for all
| |
okr.theme |
Human development::Health system performance
| |
okr.topic |
Finance and Financial Sector Development :: Access to Finance
| |
okr.topic |
Banks and Banking Reform
| |
okr.topic |
Economic Theory and Research
| |
okr.topic |
Private Sector Development :: Emerging Markets
| |
okr.topic |
Finance and Financial Sector Development :: Debt Markets
| |
okr.topic |
Macroeconomics and Economic Growth
| |
okr.unit |
Development Prospects Group, Development Economics
| |
okr.volume |
1 of 1
|
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