Getting More from a Fiscal Stimulus
The severity and global nature of the current financial and economic crisis has increased the role expected of fiscal policy in stimulating national and global demand, protecting vulnerable groups, and investing for future growth (International Mon...
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| Format: | Brief |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2009/07/11936539/getting-more-fiscal-stimulus http://hdl.handle.net/10986/10536 |
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okr-10986-105362021-04-23T14:02:51Z Getting More from a Fiscal Stimulus Thomas, Theo ACCESS TO FINANCING ACCOUNTABILITY BANKS BUDGET AGENCIES BUDGET PROCESS BUDGETING CIVIL SERVICE COMMODITY PRICES CURRENT EXPENDITURES DEVELOPING COUNTRIES DEVELOPMENT BANK DURABLE EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS EXPENDITURE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL MARKETS FINANCIAL PERFORMANCE FISCAL ADJUSTMENT FISCAL CONDITIONS FISCAL DISCIPLINE FISCAL MANAGEMENT FISCAL POLICY FISCAL STIMULUS FISCAL SUSTAINABILITY GOVERNMENT SPENDING INFORMATION SYSTEMS INFRASTRUCTURE INVESTMENT INTEREST RATES INTERNATIONAL INSTITUTIONS INVESTING INVESTMENT PROJECTS INVESTMENT SPENDING LEGISLATION LONG-TERM INVESTMENT OUTPUTS PENSION PENSION REFORMS POLITICAL ECONOMY PRIVATE SECTOR PUBLIC PUBLIC EXPENDITURES PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC POLICIES PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR PERFORMANCE PUBLIC SPENDING REAL SECTOR REGIONAL DEVELOPMENT BANKS SAFETY SAFETY NET SAVINGS STABILIZATION EFFORTS TRANSPARENCY TREASURY WAGES The severity and global nature of the current financial and economic crisis has increased the role expected of fiscal policy in stimulating national and global demand, protecting vulnerable groups, and investing for future growth (International Monetary Fund, or IMF 2009). For those that can afford it, this means quickly designing and implementing fiscal stimulus packages. These new challenges have arisen while governments across the world have, for some time, been reforming their budget management frameworks to improve public sector performance to better meet complex and ever-rising obligations. While there is a risk that the short-term stimulus diverts attention from longer-term performance reforms, this note suggests that 'performance-informed budgeting' can help countries better address the challenges of the current financial and economic crisis. Specifically, how governments might enhance the impact of their fiscal stimulus through three interrelated performance-informed areas: i) reprioritizing public spending to maximize the impact of the stimulus measures; ii) improving the efficiency and effectiveness of operational expenditures to avoid waste and maximize the available fiscal space; and iii) accelerating investment expenditures, to both stimulate demand and build for future growth. 2012-08-13T11:57:52Z 2012-08-13T11:57:52Z 2009-07 http://documents.worldbank.org/curated/en/2009/07/11936539/getting-more-fiscal-stimulus http://hdl.handle.net/10986/10536 English Global Expert Team (GET) Note CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCESS TO FINANCING ACCOUNTABILITY BANKS BUDGET AGENCIES BUDGET PROCESS BUDGETING CIVIL SERVICE COMMODITY PRICES CURRENT EXPENDITURES DEVELOPING COUNTRIES DEVELOPMENT BANK DURABLE EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS EXPENDITURE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL MARKETS FINANCIAL PERFORMANCE FISCAL ADJUSTMENT FISCAL CONDITIONS FISCAL DISCIPLINE FISCAL MANAGEMENT FISCAL POLICY FISCAL STIMULUS FISCAL SUSTAINABILITY GOVERNMENT SPENDING INFORMATION SYSTEMS INFRASTRUCTURE INVESTMENT INTEREST RATES INTERNATIONAL INSTITUTIONS INVESTING INVESTMENT PROJECTS INVESTMENT SPENDING LEGISLATION LONG-TERM INVESTMENT OUTPUTS PENSION PENSION REFORMS POLITICAL ECONOMY PRIVATE SECTOR PUBLIC PUBLIC EXPENDITURES PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC POLICIES PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR PERFORMANCE PUBLIC SPENDING REAL SECTOR REGIONAL DEVELOPMENT BANKS SAFETY SAFETY NET SAVINGS STABILIZATION EFFORTS TRANSPARENCY TREASURY WAGES |
| spellingShingle |
ACCESS TO FINANCING ACCOUNTABILITY BANKS BUDGET AGENCIES BUDGET PROCESS BUDGETING CIVIL SERVICE COMMODITY PRICES CURRENT EXPENDITURES DEVELOPING COUNTRIES DEVELOPMENT BANK DURABLE EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING MARKETS EXPENDITURE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL MARKETS FINANCIAL PERFORMANCE FISCAL ADJUSTMENT FISCAL CONDITIONS FISCAL DISCIPLINE FISCAL MANAGEMENT FISCAL POLICY FISCAL STIMULUS FISCAL SUSTAINABILITY GOVERNMENT SPENDING INFORMATION SYSTEMS INFRASTRUCTURE INVESTMENT INTEREST RATES INTERNATIONAL INSTITUTIONS INVESTING INVESTMENT PROJECTS INVESTMENT SPENDING LEGISLATION LONG-TERM INVESTMENT OUTPUTS PENSION PENSION REFORMS POLITICAL ECONOMY PRIVATE SECTOR PUBLIC PUBLIC EXPENDITURES PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC POLICIES PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR PERFORMANCE PUBLIC SPENDING REAL SECTOR REGIONAL DEVELOPMENT BANKS SAFETY SAFETY NET SAVINGS STABILIZATION EFFORTS TRANSPARENCY TREASURY WAGES Thomas, Theo Getting More from a Fiscal Stimulus |
| relation |
Global Expert Team (GET) Note |
| description |
The severity and global nature of the
current financial and economic crisis has increased the role
expected of fiscal policy in stimulating national and global
demand, protecting vulnerable groups, and investing for
future growth (International Monetary Fund, or IMF 2009).
For those that can afford it, this means quickly designing
and implementing fiscal stimulus packages. These new
challenges have arisen while governments across the world
have, for some time, been reforming their budget management
frameworks to improve public sector performance to better
meet complex and ever-rising obligations. While there is a
risk that the short-term stimulus diverts attention from
longer-term performance reforms, this note suggests that
'performance-informed budgeting' can help
countries better address the challenges of the current
financial and economic crisis. Specifically, how governments
might enhance the impact of their fiscal stimulus through
three interrelated performance-informed areas: i)
reprioritizing public spending to maximize the impact of the
stimulus measures; ii) improving the efficiency and
effectiveness of operational expenditures to avoid waste and
maximize the available fiscal space; and iii) accelerating
investment expenditures, to both stimulate demand and build
for future growth. |
| format |
Publications & Research :: Brief |
| author |
Thomas, Theo |
| author_facet |
Thomas, Theo |
| author_sort |
Thomas, Theo |
| title |
Getting More from a Fiscal Stimulus |
| title_short |
Getting More from a Fiscal Stimulus |
| title_full |
Getting More from a Fiscal Stimulus |
| title_fullStr |
Getting More from a Fiscal Stimulus |
| title_full_unstemmed |
Getting More from a Fiscal Stimulus |
| title_sort |
getting more from a fiscal stimulus |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2009/07/11936539/getting-more-fiscal-stimulus http://hdl.handle.net/10986/10536 |
| _version_ |
1764413455422455808 |