The Experts below are selected from a list of 321 Experts worldwide ranked by ideXlab platform
Mike Seiferling - One of the best experts on this subject based on the ideXlab platform.
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Income Inequality, Fiscal Decentralization and Transfer Dependency
IMF Working Papers, 2014Co-Authors: Caroline-antonia Goerl, Mike SeiferlingAbstract:Within the context of reigniting post crisis macroeconomic growth, income inequality has emerged as a topic of significant interest for both academics and policymakers (Bastagli, Coady, and Gupta, 2012) This study builds on past literature on fiscal decentralization suggesting that redistribution is most effectively carried out at sub-central levels of Government. Using the IMF’s multi-sector Government Finance Statistics Yearbook database, this paper tests the impact of decentralized redistribution on income inequality for a globally representative sample of countries since 1980. The findings suggest that the decentralization of Government expenditure can help achieve a more equal distribution of income. However, several conditions need to be fulfilled: i) the Government sector needs to be sufficiently large, ii) decentralization should be comprehensive, including redistributive Government spending, and, iii) decentralization on the expenditure side should be accompanied by adequate decentralization on the revenue side, such that subnational Governments rely primarily on their own revenue sources as opposed to interGovernmental transfers.
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Income Inequality, Fiscal Decentralization and Transfer Dependency 1
2014Co-Authors: Caroline-antonia Goerl, Mike Seiferling, Claudia DziobekAbstract:Within the context of reigniting post crisis macroeconomic growth, income inequality has emerged as a topic of significant interest for both academics and policymakers (Bastagli, Coady, and Gupta, 2012) This study builds on past literature on fiscal decentralization suggesting that redistribution is most effectively carried out at sub-FHQWUDOOHYHOVRIJRYHUQPHQW��8VLQJWKH�,0)∂VPXOWL -sector Government Finance Statistics Yearbook database, this paper tests the impact of decentralized redistribution on income inequality for a globally representative sample of countries since 1980. The findings suggest that the decentralization of Government expenditure can help achieve a more equal distribution of income. However, several conditions need to be fulfilled: i) the Government sector needs to be sufficiently large, ii) decentralization should be comprehensive, including redistributive Government spending, and, iii) decentralization on the expenditure side should be accompanied by adequate decentralization on the revenue side, such that subnational Governments rely primarily on their own revenue sources as opposed to interGovernmental transfers.
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Vertical Fiscal Imbalances and the Accumulation of Government Debt
IMF Working Papers, 2014Co-Authors: Iñaki Aldasoro, Mike SeiferlingAbstract:Delegating fiscal decision making power to sub-national Governments has been an area of interest for both academics and policymakers given the expectation that it may lead to better and more efficient provision of public goods and services. Decentralization has, however, often occurred on the expenditure and less on the revenue side, creating “vertical fiscal imbalances” where sub-national Governments’ expenditures are not Financed through their own revenues. The mismatch between own revenues and expenditures may have consequences for public Finance performance. This study constructs a large sample of general and subnational level fiscal data beginning in 1980 from the IMF’s Government Finance Statistics Yearbook. Extending the literature to the balance sheet approach, this paper examines the effects of vertical fiscal imbalances on Government debt. The results indicate that vertical fiscal imbalances are relevant in explaining Government debt accumulation suggesting a degree of caution when promoting fiscal decentralization. This paper also underlines the role of data covering the general Government and its subectors for comprehensive analysis of fiscal performance.
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Vertical Fiscal Imbalances and the Accumulation of Government Debt
SSRN Electronic Journal, 2014Co-Authors: Iñaki Aldasoro, Mike SeiferlingAbstract:The implications of delegating fiscal decision making power to sub-national Governments has become an area of significant interest over the past two decades, in the expectation that these reforms will lead to better and more efficient provision of public goods and services. The move towards decentralization has, however, not been homogeneously implemented on the revenue and expenditure side: decentralization has materialized more substantially on the latter than on the former, creating "vertical fiscal imbalances". These imbalances measure the extent to which sub-national Governments’ expenditures are Financed through their own revenues. This mismatch between own revenues and expenditures may have negative consequences for public Finances performance, for example by softening the budget constraint of sub-national Governments. Using a large sample of countries covering a long time period from the IMF’s Government Finance Statistics Yearbook, this paper is the first to examine the effects of vertical fiscal imbalances on fiscal performance through the accumulation of Government debt. Our findings suggest that vertical fiscal imbalances are indeed relevant in explaining Government debt accumulation, and call for a degree of caution when promoting fiscal decentralization.
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Stock-Flow Adjustments, Government's Integrated Balance Sheet and Fiscal Transparency
2013Co-Authors: Mike SeiferlingAbstract:This paper re-examines the stock-flow discrepancies of Government debt and deficits and correlation with fiscal transparency. Applying the fully integrated relationship between financial stocks and flows allows for a more refined analysis of the deterministic components that make up the ‘stock-flow’ residual. Using partial measures of these stock-flow residuals, several empirical studies have found them to be significantly correlated with fiscaltransparency, inflation, fiscal rules, and banking crisis. Using fully integrated public Finance data from the IMF Government Finance Statistics Yearbook for a sample of 22 countries, the findings in this paper suggest that stock-flow residuals have a significantly smaller magnitude than previously assumed and are, in fact, not correlated with fiscal transparency. A stronger determinant of fiscal transparency scores appears to be the actual reporting of fiscal data covering general Government, especially a full financial balance sheet.
Carlos Alberto Gutierrez Mangas - One of the best experts on this subject based on the ideXlab platform.
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what lies beneath the statistical definition of public sector debt an overview of the coverage of public sector debt for 61 countries
Social Science Research Network, 2012Co-Authors: Robert Dippelsman, Claudia Dziobek, Carlos Alberto Gutierrez MangasAbstract:While key macroeconomic indicators such as Gross Domestic Product (GDP) or Consumer Price Index (CPI) are based on internationally accepted methodologies, indicators related to the debt of the public sector often do not follow international standards and can have several different definitions. As this paper shows, the absence of the standard nomenclature can lead to major misunderstandings in the fiscal policy debate. The authors present examples that show that debt-to-GDP ratios for a country at any given time can range from 40 to over 100 percent depending on the definition used. Debt Statistics, for example, may include or exclude state and local Governments and may cover all debt instruments or just a subset. The authors suggest that gross debt of the general Government ("gross debt") should be globally adopted as the headline indicator supplemented by other measures of Government debt for risk-based assessments of the fiscal position. Broader measures, including net debt and detailed information on contingent liabilities and derivatives, could be considered. The standard nomenclature of Government and of debt instruments helps users understand the concepts in line with the Public Sector Debt Statistics Guide. Use of more standard definitions of Government debt would improve data comparability, would benefit IMF surveillance, programs, and debt sustainability analysis, and would help country authorities specify and monitor fiscal rules. Data disaggregated by Government subsector and debt instrument for 61 countries from the IMF‘s Government Finance Statistics Yearbook (GFSY) database are presented to illustrate the importance and viability of adopting this approach.
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The IMF’s Government Finance Statistics Yearbook - Maps of Government for 74 Countries
2011Co-Authors: Claudia Dziobek, Carlos Alberto Gutierrez Mangas, Miguel Alves, Majdeline El Rayess, Phebby KufaAbstract:A useful but little known feature of the IMF’s Government Finance Statistics Yearbook (GFSY) is the information on the structure of Governments. Institutional tables, included in the GFSY, provide detail on the central, state, and local levels of Governments, social security, and extrabudgetary units. We refer to the main levels of Government as GL1, GL2, and GL3 in ascending order of institutional coverage. We present maps of the various levels of Government for 74 countries to illustrate the usefulness of this database and make it more accessible to users. The maps provide information about how centralized or decentralized Government Finances and employment are and their size relative to the overall economy. Government map data facilitate the monitoring of fiscal policy and fiscal rules.
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the imf s Government Finance Statistics yearbook maps of Government for 74 countries
Social Science Research Network, 2011Co-Authors: Claudia Dziobek, Carlos Alberto Gutierrez Mangas, Miguel Alves, Majdeline El Rayess, Phebby KufaAbstract:A useful but little known feature of the IMF’s Government Finance Statistics Yearbook (GFSY) is the information on the structure of Governments. Institutional tables, included in the GFSY, provide detail on the central, state, and local levels of Governments, social security, and extrabudgetary units. We refer to the main levels of Government as GL1, GL2, and GL3 in ascending order of institutional coverage. We present maps of the various levels of Government for 74 countries to illustrate the usefulness of this database and make it more accessible to users. The maps provide information about how centralized or decentralized Government Finances and employment are and their size relative to the overall economy. Government map data facilitate the monitoring of fiscal policy and fiscal rules.
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Measuring Fiscal Decentralization - Exploring the IMF's Databases
2011Co-Authors: Claudia Dziobek, Carlos Alberto Gutierrez Mangas, Phebby KufaAbstract:Conventional wisdom postulates that there are benefits from decentralizing Government Finances but there is little empirical evidence about actual country practices. This paper presents data on fiscal decentralization for about 80 countries over a period of about 20 years (1990 - 2008) from the IMF’s Government Finance Statistics Yearbook (GFSY), the only global database with fiscal data for several levels of Government. The data show that in many countries, revenue collection remains relatively more centralized than expenditures and that employment tends to be concentrated in lower levels of Government. Except for transition economies, the levels of decentralization are relatively stable over the time period. The findings are shown by degree of economic development, constitutional power arrangements, and geographic area, broadly confirming key factors identified in the literature as determining the extent of fiscal decentralization.
Puput Waryanto - One of the best experts on this subject based on the ideXlab platform.
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relevansi penerapan Government Finance Statistics dalam menilai kebijakan fiskal relevance of implementing Government Finance Statistics on assessing fiscal policy in indonesia
Social Science Research Network, 2015Co-Authors: Puput WaryantoAbstract:Indonesian Abstract: Kebutuhan pemerintah untuk menerapkan Government Finance Statistics (GFS) dapat menjadi pilihan yang tepat karena telah terbukti bahwa dengan penerapan GFS pada beberapa negara dapat secara relevan menilai kebijakan fiskal, dalam persamaan regresi Y = 1,810 – 0,838X di mana X = penerapan GFS dan Y = kebijakan fiskal. Pengaruh bersifat negatif dan signifikan. Faktor penerapan GFS dapat menilai kebijakan fiskal dengan kontribusi 81,1%. Adapun penyusunan GFS tidak menggugurkan kewajiban penyusunan laporan keuangan untuk tujuan umum, yang dalam tataran pemerintah pusat dikenal dengan LKPP (Laporan Keuangan Pemerintah Pusat). Penggunaan prinsip-prinsip dasar yang memadai dalam GFS, yaitu basis akrual, cakupan sektor publik, dan konsolidasi juga mendukung GFS ini sebagai dasar yang tepat dalam mengambil kebijakan fiskal dibandingkan dengan sekadar laporan keuangan untuk tujuan umum. Perbedaan antara GFS dengan standar akuntansi pemerintah (pada sektor pemerintahan umum), serta antara GFS dengan standar akuntansi keuangan (pada sektor perusahaan publik), merupakan hambatan sekaligus tantangan bagi semua pihak khususnya pemerintah pusat sebagai penanggung jawab dalam mengembangkan sistem, prosedur, dan sumber daya yang dibutuhkan dalam mengembangkan GFS di Indonesia. English Abstract: The Government need to realize Government Finance Statistics (GFS) could be the right choice because a prove that the application of GFS in some countries was relevant to review fiscal policy, by the regression equation Y = 1,810 - 0,838X where X = application of the GFS and Y= fiscal policy. It was negative and significant influence. Factor GFS application could assess fiscal policy by contribution of 81,1%. The preparation of the GFS did not terminate the obligation in preparing financial statements for a common purpose, which was at the level of central Government known as LKPP (Government Financial Statements). Use of basic principles which were adequate in the GFS, consist of the accrual basis, coverage of public sector, and consolidation also supported this GFS as a basis for decision making on fiscal policy more precisely than a general purpose financial statements. Differences between GFS with Government accounting standards (the general Government sector), as well as between the GFS with financial accounting standards (public enterprise sector), were obstacles and challenges for all parties, especially the central Government in charge of developing systems, procedures, and resources needed to develop the GFS in Indonesia.
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relevansi penerapan Government Finance Statistics gfs dalam menilai kebijakan fiskal
Jurnal BPPK : Badan Pendidikan dan Pelatihan Keuangan, 2015Co-Authors: Puput WaryantoAbstract:The Government need to realize Government Finance Statictics (GFS) could be the right choice because a prove that the application of FGS in some countries was relevant to review fiscal policy, by the regression equation Y + 1,810-0,838x where X = application of the GFS and Y =Fiscal policy. It was negative and significant influence, Factor GFS application could asses fiscal policy by contribution of 81.1%. The preparation of the GFS did not terminate the obligation in preparing financial statements for a common purpose, which was at the level of central Government known as LKPP (Government Financial Statement). Use of basic principles which were adequate in the GFS, consist of the accrual basis, coverage of public sector, and consolidation also supported this GFS as a basic for decision making on fiscal policy more precisely than a general purpose financial statement. Diffrerences between GFS with Government accounting standard (the general Government sector), as well as between the GFS with financial accounting standards ( Public enterprise sector), ranging from the purpose, scope, reporting entities, criteria for recognition, measurement. Revaluation and changes is value , and the integration of current and position, were obstacles and challenges for all parties, especially the central Government in charge of developing systems, procedures, and resources needed to develop the GFS in Indonesia.
Claudia Dziobek - One of the best experts on this subject based on the ideXlab platform.
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Income Inequality, Fiscal Decentralization and Transfer Dependency 1
2014Co-Authors: Caroline-antonia Goerl, Mike Seiferling, Claudia DziobekAbstract:Within the context of reigniting post crisis macroeconomic growth, income inequality has emerged as a topic of significant interest for both academics and policymakers (Bastagli, Coady, and Gupta, 2012) This study builds on past literature on fiscal decentralization suggesting that redistribution is most effectively carried out at sub-FHQWUDOOHYHOVRIJRYHUQPHQW��8VLQJWKH�,0)∂VPXOWL -sector Government Finance Statistics Yearbook database, this paper tests the impact of decentralized redistribution on income inequality for a globally representative sample of countries since 1980. The findings suggest that the decentralization of Government expenditure can help achieve a more equal distribution of income. However, several conditions need to be fulfilled: i) the Government sector needs to be sufficiently large, ii) decentralization should be comprehensive, including redistributive Government spending, and, iii) decentralization on the expenditure side should be accompanied by adequate decentralization on the revenue side, such that subnational Governments rely primarily on their own revenue sources as opposed to interGovernmental transfers.
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Definitions of Government in IMF-Supported Programs
2013Co-Authors: Claudia Dziobek, Alberto F. Jimenez De Lucio, James A ChanAbstract:This note addresses the following main issues: • Statistical definitions of Government (Government Finance Statistics Manual 2001) • Institutional structure of Government and public sector • What is a precise definition of Government and why it is relevant • Potential pitfalls of lacking a precise definition of Government • Definitions of Government in IMF-supported programs • Applications for fiscal rules and other fiscal policy design
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what lies beneath the statistical definition of public sector debt an overview of the coverage of public sector debt for 61 countries
Social Science Research Network, 2012Co-Authors: Robert Dippelsman, Claudia Dziobek, Carlos Alberto Gutierrez MangasAbstract:While key macroeconomic indicators such as Gross Domestic Product (GDP) or Consumer Price Index (CPI) are based on internationally accepted methodologies, indicators related to the debt of the public sector often do not follow international standards and can have several different definitions. As this paper shows, the absence of the standard nomenclature can lead to major misunderstandings in the fiscal policy debate. The authors present examples that show that debt-to-GDP ratios for a country at any given time can range from 40 to over 100 percent depending on the definition used. Debt Statistics, for example, may include or exclude state and local Governments and may cover all debt instruments or just a subset. The authors suggest that gross debt of the general Government ("gross debt") should be globally adopted as the headline indicator supplemented by other measures of Government debt for risk-based assessments of the fiscal position. Broader measures, including net debt and detailed information on contingent liabilities and derivatives, could be considered. The standard nomenclature of Government and of debt instruments helps users understand the concepts in line with the Public Sector Debt Statistics Guide. Use of more standard definitions of Government debt would improve data comparability, would benefit IMF surveillance, programs, and debt sustainability analysis, and would help country authorities specify and monitor fiscal rules. Data disaggregated by Government subsector and debt instrument for 61 countries from the IMF‘s Government Finance Statistics Yearbook (GFSY) database are presented to illustrate the importance and viability of adopting this approach.
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The IMF’s Government Finance Statistics Yearbook - Maps of Government for 74 Countries
2011Co-Authors: Claudia Dziobek, Carlos Alberto Gutierrez Mangas, Miguel Alves, Majdeline El Rayess, Phebby KufaAbstract:A useful but little known feature of the IMF’s Government Finance Statistics Yearbook (GFSY) is the information on the structure of Governments. Institutional tables, included in the GFSY, provide detail on the central, state, and local levels of Governments, social security, and extrabudgetary units. We refer to the main levels of Government as GL1, GL2, and GL3 in ascending order of institutional coverage. We present maps of the various levels of Government for 74 countries to illustrate the usefulness of this database and make it more accessible to users. The maps provide information about how centralized or decentralized Government Finances and employment are and their size relative to the overall economy. Government map data facilitate the monitoring of fiscal policy and fiscal rules.
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the imf s Government Finance Statistics yearbook maps of Government for 74 countries
Social Science Research Network, 2011Co-Authors: Claudia Dziobek, Carlos Alberto Gutierrez Mangas, Miguel Alves, Majdeline El Rayess, Phebby KufaAbstract:A useful but little known feature of the IMF’s Government Finance Statistics Yearbook (GFSY) is the information on the structure of Governments. Institutional tables, included in the GFSY, provide detail on the central, state, and local levels of Governments, social security, and extrabudgetary units. We refer to the main levels of Government as GL1, GL2, and GL3 in ascending order of institutional coverage. We present maps of the various levels of Government for 74 countries to illustrate the usefulness of this database and make it more accessible to users. The maps provide information about how centralized or decentralized Government Finances and employment are and their size relative to the overall economy. Government map data facilitate the monitoring of fiscal policy and fiscal rules.
Phebby Kufa - One of the best experts on this subject based on the ideXlab platform.
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The IMF’s Government Finance Statistics Yearbook - Maps of Government for 74 Countries
2011Co-Authors: Claudia Dziobek, Carlos Alberto Gutierrez Mangas, Miguel Alves, Majdeline El Rayess, Phebby KufaAbstract:A useful but little known feature of the IMF’s Government Finance Statistics Yearbook (GFSY) is the information on the structure of Governments. Institutional tables, included in the GFSY, provide detail on the central, state, and local levels of Governments, social security, and extrabudgetary units. We refer to the main levels of Government as GL1, GL2, and GL3 in ascending order of institutional coverage. We present maps of the various levels of Government for 74 countries to illustrate the usefulness of this database and make it more accessible to users. The maps provide information about how centralized or decentralized Government Finances and employment are and their size relative to the overall economy. Government map data facilitate the monitoring of fiscal policy and fiscal rules.
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the imf s Government Finance Statistics yearbook maps of Government for 74 countries
Social Science Research Network, 2011Co-Authors: Claudia Dziobek, Carlos Alberto Gutierrez Mangas, Miguel Alves, Majdeline El Rayess, Phebby KufaAbstract:A useful but little known feature of the IMF’s Government Finance Statistics Yearbook (GFSY) is the information on the structure of Governments. Institutional tables, included in the GFSY, provide detail on the central, state, and local levels of Governments, social security, and extrabudgetary units. We refer to the main levels of Government as GL1, GL2, and GL3 in ascending order of institutional coverage. We present maps of the various levels of Government for 74 countries to illustrate the usefulness of this database and make it more accessible to users. The maps provide information about how centralized or decentralized Government Finances and employment are and their size relative to the overall economy. Government map data facilitate the monitoring of fiscal policy and fiscal rules.
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Measuring Fiscal Decentralization - Exploring the IMF's Databases
2011Co-Authors: Claudia Dziobek, Carlos Alberto Gutierrez Mangas, Phebby KufaAbstract:Conventional wisdom postulates that there are benefits from decentralizing Government Finances but there is little empirical evidence about actual country practices. This paper presents data on fiscal decentralization for about 80 countries over a period of about 20 years (1990 - 2008) from the IMF’s Government Finance Statistics Yearbook (GFSY), the only global database with fiscal data for several levels of Government. The data show that in many countries, revenue collection remains relatively more centralized than expenditures and that employment tends to be concentrated in lower levels of Government. Except for transition economies, the levels of decentralization are relatively stable over the time period. The findings are shown by degree of economic development, constitutional power arrangements, and geographic area, broadly confirming key factors identified in the literature as determining the extent of fiscal decentralization.
