/external/pubs/cat/eco_iss1_sp.aspx?s_year=1997&e_year=2009&brtype=defaultThis series aims to make available to a broad readership of nonspecialists some of the economic research being produced on topical issues by IMF staff. The series draws mainly from IMF Working Papers, which are technical papers produced by IMF staff members and visiting scholars, as well as from policy-related research papers.Imf.Org RSS Feed GeneratorENhttp://www.imf.org/external/pubs/cat/longres.aspx?sk=18456Over the past three decades, public spending on infrastructure, as a share of GDP, has been on the decline worldwide. Although the link between infrastructure investment and economic growth is not yet fully understood, the quality of infrastructure clearly affects a country's productivity, competitiveness in export markets, and ability to attract foreign investment. This EI explores the following questions: Should countries increase public investment in infrastructure? If the answer is yes, how can they do so in a fiscally responsible manner? Are public-private partnerships a viable alternative?21 Mar 2007 09:00:00 ESTEconomic Issuehttp://www.imf.org/external/pubs/cat/longres.aspx?sk=18456http://www.imf.org/external/pubs/cat/longres.aspx?sk=18143Efforts to liberalize world trade are increasingly focusing on strengthening the links between low-income countries’ trade policies and their development strategies. However, although greater trade openness promises faster growth for poor countries, it also presents risks to those with small and undiversified economies. This pamphlet explores research by Fund staff into the nature and magnitude of these risks and proposes targeted policy solutions to ease adjustments and encourage developing countries to choose fuller participation in the world trading system.06 Apr 2006 09:00:00 ESTEconomic Issuehttp://www.imf.org/external/pubs/cat/longres.aspx?sk=18143http://www.imf.org/external/pubs/cat/longres.aspx?sk=18455Policymakers are often reluctant to grant independence to the agencies that regulate and supervise the financial sector because of the fear that these agencies, with their wide-ranging responsibilities and powers, could become a law unto themselves. This pamphlet describes mechanisms for making regulatory agencies accountable not only to the government but also to the industry they supervise and the public at large, with examples from a range of countries.14 Mar 2006 09:00:00 ESTEconomic Issuehttp://www.imf.org/external/pubs/cat/longres.aspx?sk=18455http://www.imf.org/external/pubs/cat/longres.aspx?sk=18454A growing number of countries are adopting flexible exchange rate regimes because flexibility offers more protection against external shocks and greater monetary independence. Other countries have made the transition under disorderly conditions, with the sharp depreciation of their currency during a crisis. Regardless of the reason for adopting a flexible exchange rate, a successful transition depends on the effective management of a number of institutional and operational issues. The authors of this Economic Issue describe the necessary ingredients for moving to a flexible regime, as well as the optimal pace and sequencing under different conditions.09 Jan 2006 09:00:00 ESTEconomic Issuehttp://www.imf.org/external/pubs/cat/longres.aspx?sk=18454http://www.imf.org/external/pubs/cat/longres.aspx?sk=17385Financial sector liberalization was high on the agenda of policymakers during the last quarter of the twentieth century. But there were significant differences in the pace and scale of reform. This pamphlet examines the factors triggering-or impeding and even reversing-financial reform in 35 economies, both industrial and developing.12 Jul 2005 09:00:00 ESTEconomic Issuehttp://www.imf.org/external/pubs/cat/longres.aspx?sk=17385http://www.imf.org/external/pubs/cat/longres.aspx?sk=17385Financial sector liberalization was high on the agenda of policymakers during the last quarter of the twentieth century. But there were significant differences in the pace and scale of reform. This pamphlet examines the factors triggering-or impeding and even reversing-financial reform in 35 economies, both industrial and developing.12 Jul 2005 09:00:00 ESTEconomic Issuehttp://www.imf.org/external/pubs/cat/longres.aspx?sk=17385http://www.imf.org/external/pubs/cat/longres.aspx?sk=17384The Heavily Indebted Poor Countries (HIPC) Initiative, launched in 1999 by the IMF and the World Bank, was the first coordinated effort by the international financial community to reduce the foreign debt of the world’s poorest countries. It was based on the theory that economic growth in heavily indebted poor countries was being stifled by heavy debt burdens, making it virtually impossible for these countries to escape poverty. However, most of the empirical research on the effects of debt on growth has lumped together a diverse group of countries, and the literature on the countries’ impact of debt on poor is scant. This pamphlet presents the findings of the authors’ empirical research into the subject, analyzing the channels through which debt affects growth in low-income countries.01 Jun 2005 09:00:00 ESTEconomic Issuehttp://www.imf.org/external/pubs/cat/longres.aspx?sk=17384http://www.imf.org/external/pubs/cat/longres.aspx?sk=16604In an ideal world, primary education would be universal and publicly financed, and all children would be able to attend school regardless of their parents’ ability or willingness to pay. In many poor countries, however, governments lack either the financial resources or the political will to provide each child with a basic education, despite the benefits that would accrue not only to individuals but to society as a whole. In some of these countries, parents cover part or all of the cost of their children’s education. This paper explores the pros and cons of user payments.21 Apr 2004 09:00:00 ESTEconomic Issuehttp://www.imf.org/external/pubs/cat/longres.aspx?sk=16604http://www.imf.org/external/pubs/cat/longres.aspx?sk=16993In nearly every major financial crisis of the past decade-from East Asia to Russia, Turkey, and Latin America-political interference in financial sector regulation helped make a bad situation worse. Political pressures not only weakened financial regulation, but also hindered regulators and supervisors from taking action against troubled banks. This paper investigates why, to fulfill their mandate to preserve financial sector stability, financial sector regulators and supervisors need to be independent-from the financial services industry as well as from the government-as well as accountable.08 Mar 2004 09:00:00 ESTEconomic Issuehttp://www.imf.org/external/pubs/cat/longres.aspx?sk=16993http://www.imf.org/external/pubs/cat/longres.aspx?sk=15650Looks at the policy choices involved in creating pension schemes, particularly whether it is advisable to move away from government pay-as-you-go pensions toward private or publicly funded plans. Examines the reasons for the controversy surrounding pension design, and whether the second level of pension systems should be mandatory, private, funded, and defined-contribution.30 Apr 2002 09:00:00 ESTEconomic Issuehttp://www.imf.org/external/pubs/cat/longres.aspx?sk=15650