‘Soft’ Infrastructure Is Crucial for Stable and Balanced Growth in China

By iMFdirect

Version in 中文 (Chinese)

An important attribute of China’s remarkable record of economic growth has been the creation of an astonishing network of “hard” infrastructure, like roads, power stations, and communication networks. Now, China needs to move toward a new stage of reforms designed to help rebalance its economy. The stakes for global prosperity are high—China is the second largest economy and contributes one-third of the world’s growth.  Continue reading “‘Soft’ Infrastructure Is Crucial for Stable and Balanced Growth in China” »

By | March 2nd, 2017|financial policy, Fiscal policy, growth, IMF, infrastructure, Investment|

Without Better Data, Middle East Policymakers Risk Getting Lost

The Middle East and North Africa (MENA) region suffers significant shortcoming in data, which are particularly problematic at a time economic transition. There are important data gaps, poor data quality and in many cases, internationally agreed standards of statistical methodologies, compilation periodicity and timeliness, and data dissemination practices are not followed.

Beyond the Austerity Debate: the Deficit Bias in the post-Bretton Woods Era

The growth versus austerity debate is detracting attention from policy issues that may seem less urgent, but which are nevertheless critical in the medium term. I am referring to what I would call the institutional gaps in fiscal policymaking that still exist in most advanced and emerging economies. These gaps have contributed to a bias in the conduct of fiscal policy in favor of deficits that is behind many of the current problems.

Disappearing Deficits

In our work at the IMF, we sometimes discover that governments choose to employ accounting devices—or stratagems that make the deficit smaller without actually causing any pain, and without actually improving public finances. In ideal accounting, this would not be possible. In real accounting, it sometimes is.

Today’s Information is Ammunition for Tomorrow

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