Botswana's Macroeconomic Management of Its Mineral-Based Growth: It Used Mining Revenues for Development and Services but Must Now Broaden the Beneficiaries

1987 ◽  
Vol 46 (4) ◽  
pp. 473-478 ◽  
Author(s):  
Robert L. Curry
Keyword(s):  
Macroeconomic Management

scholarly journals Pakistan: Breaking Out of Stagflation into Sustained Growth

2011 ◽  
Vol 16 (Special Edition) ◽  
pp. 13-30 ◽  
Author(s):  
Rashid Amjad ◽  
Musleh ud Din Musleh ud Din ◽  
Abdul Qayyum Abdul Qayyum
Keyword(s):  
Output Growth ◽  
Current Debate ◽  
Safety Nets ◽  
Supply Shocks ◽  
Fiscal Balance ◽  
The Government ◽  
Role Of The Government ◽  
Social Safety Nets ◽  
Macroeconomic Management

This paper proposes that the underlying cause of the macroeconomic problems facing Pakistan today are a series of supply shocks which have constrained output growth. It is argued that while the current debate has solely focused on government expenditures and revenues, it is critical to also address the acute energy shortages which is constraining supply. The paper goes on to present four recommendations for breaking out of the present stagflation: (i) prudent macroeconomic management, (ii) reviving the role of the government in development while restoring fiscal balance, (iii) loosening monetary policy in order to spur the private sector, and (iv) improving social safety nets.

Fiscal Institutions and Macroeconomic Management in the United Arab Emirates

2019 ◽  
pp. 356-426
Author(s):  
Raimundo Soto
Keyword(s):  
United Arab Emirates ◽  
Resource Curse ◽  
Political Stability ◽  
Institutional Development ◽  
Business Environment ◽  
Fiscal Rules ◽  
Fiscal Institutions ◽  
Long Run ◽  
Oil Wealth ◽  
Macroeconomic Management

The UAE has seemingly escaped “the natural resource curse”: it is one of the richest countries in the world and ranks comparatively highly on business environment, infrastructure, and institutional development. Symptoms of the curse can nevertheless be found in the very low growth in labor productivity, massive public sector overemployment, and the inability to counteract instability induced by oil price cycles. This chapter shows that fiscal policy is highly ineffective as a countercyclical tool due to the absence of income and ad-valorem taxes. Stabilizing instruments—such as open-budgeting procedures or fiscal rules—are notoriously absent. Why would a country design its fiscal, monetary, and exchange rate policies so that they allow for high levels of pro-cyclicality, thereby hampering efficiency and long-run growth? A political economy explanation is developed whereby weak fiscal institutions are an agreed-upon mechanism to secure political stability and transfer oil wealth among emiratis and to future generations.

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