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Federated States of Micronesia Public Expenditure Analysis : Getting Ready for 2024

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collection.link.213
https://openknowledge.worldbank.org/handle/10986/11866
collection.name.213
Other papers
dc.contributor.author
World Bank
dc.date.accessioned
2017-10-03T20:21:51Z
dc.date.available
2017-10-03T20:21:51Z
dc.date.issued
2016-06-29
dc.date.lastModified
2021-06-14T10:10:27Z
dc.description.abstract
The Federated States of Micronesia (FSM) has a very narrow production base, with subsistence agriculture and fisheries and the public sectors dominating the economy, both with regard to employment and value added. The contribution of institutional sectors to growth suggests that private enterprises relied on the public sector for growth opportunities and households tended to fall back to subsistence when growth slows. Growth accelerations and decelerations were largely influenced by the implementation of the U.S. funded airport upgrade project and Compact grants although over the long run, the net effect of public investment on growth has been small. Economic growth and international competitiveness are severely constrained by the country’s small size, remoteness, geographic isolation and dispersion, and thin institutional and human capacity. This Public Expenditure Review (PER) is aimed at filling a knowledge gap to support the Government of FSM (GoFSM) in improving the design of public expenditure policies to address these key challenges. The main recommendations of this PER to support the GoFSM in addressing the aforementioned challenges are centered on how to (a) improve public expenditure management to support macroeconomic stability and growth, and (b) improve public expenditure management to support efficient, effective, and equitable service delivery. The PER is composed of a concise set of chapters analyzing macroeconomic and fiscal trends, intergovernmental relationships, public investment management (PIM) issues, and the two largest expenditure sectors: education and health. Data limitations may result in some inaccuracies and inadvertent distortions in outcomes.
en
dc.identifier
http://documents.worldbank.org/curated/en/459201506345399463/Getting-ready-for-2024
dc.identifier.uri
http://hdl.handle.net/10986/28441
dc.language
English
dc.language.iso
en_US
dc.publisher
World Bank, Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
MACROECONOMIC POLICY
dc.subject
PUBLIC EXPENDITURE
dc.subject
FISCAL TRENDS
dc.subject
PUBLIC INVESTMENT MANAGEMENT
dc.subject
EDUCATION
dc.subject
HEALTH
dc.title
Federated States of Micronesia Public Expenditure Analysis
en
dc.title.subtitle
Getting Ready for 2024
en
dc.type
Report
en
okr.crossref.title
Federated States of Micronesia Public Expenditure Analysis
okr.date.disclosure
2017-09-25
okr.doctype
Economic & Sector Work :: Public Expenditure Review
okr.doctype
Publications & Research
okr.docurl
http://documents.worldbank.org/curated/en/459201506345399463/Getting-ready-for-2024
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/28441
okr.identifier.externaldocumentum
090224b085360ffd_3_0
okr.identifier.internaldocumentum
26535746
okr.identifier.report
107082
okr.imported
true
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/459201506345399463/pdf/107082-REVISED-127p-FSM-PER-FINAL.pdf
en
okr.region.administrative
East Asia and Pacific
okr.region.country
Micronesia, Federated States of
okr.theme
Public sector governance :: Public expenditure, financial management and procurement
okr.topic
Macroeconomics and Economic Growth :: Economic Policy, Institutions and Governance
okr.topic
Macroeconomics and Economic Growth :: Fiscal & Monetary Policy
okr.topic
Public Sector Development :: Public Sector Expenditure Policy
okr.topic
Public Sector Development :: Public Sector Management and Reform

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