Fiscal Reform and Structural Change in Developing Countries analyzes the experience of countries involved in major tax reforms in the 1980s and first half of the 1990s by a combination of qualitative and quantitative country studies and over-arching thematic studies. The emphasis is on the role of fiscal reform in stabilization and structural change, as well as the effects that policy for stabilization and, especially, structural change can have on the fiscal deficit under different types of tax systems. The authors then analyze the reasons for the convergence of tax systems around the developing world.

Fiscal Reform and Structural Change in Developing Countries: Volume 2

Perry, Guillermo

Science & Math

PALGRAVE~MACMILLAN

Finanzas públicas, estabilización y reforma estructural en América Latina (Spanish Edition)

Banco Interamericano de Desarrollo

When he began this book in early 2008, Guillermo Perry argued that developing countries remained highly vulnerable to external risks such as commodity price declines, capital flow reversals, and natural disasters. The economic crisis that has since ensued confirmed Perry's analysis. It has also made his proposal more important than ever: multilateral development banks (MDBs) should move beyond lending to provide innovative risk-management tools for developing countries to manage volatility. The risk that MDBs will fall into complacency as the short-term demand for traditional loans increases during the crisis should not deter innovations to ensure long-term stability.
 Contents
 1. Causes and Consequences of High Volatility in Developing Countries
 2. The Role of Financial Insurance and Hedging
 3. Dealing with Liquidity Shocks and the Procyclicality of Private Capital Flows
 4. Dealing with Currency Risks
 5. Dealing with Commodity Price, Terms of Trade, and Output Risks
 6. Dealing with Natural Disaster Risks
 7. Why Multilateral Development Bank Practices Are So Far from Their Potential
 8. An Agenda Going Forward

Beyond Lending: How Multilateral Banks Can Help Developing Countries Manage Volatility

Business & Money

Economics

Center for Global Development

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