Sub-Module 4: Institutional Design of Intergovernmental Fiscal Transfer
|
|
- Hugo Elliott
- 5 years ago
- Views:
Transcription
1 Sub-Module 4: Institutional Design of Intergovernmental Fiscal Transfer Case Study 2: Fiscal Equalization in Asian Countries 1. Introduction a. Stability and flexibility of fiscal equalization systems In many countries, fiscal transfer from the central government makes up a large part of local government revenue. Consequently, the design of the fiscal transfer system has extreme importance in efforts by local governments to maintain a stable supply of services. In order for local governments to engage in stable fiscal management, it is important that the funds they will receive each year from the central government have high predictability in terms of amount. If there are large fluctuations in the transferred amount each fiscal year, it becomes extremely difficult to draft budgets amid strict fiscal constraints when the amount of money to be received cannot be predicted beforehand. However, if the national economy is considered, the amount to be transferred from the central government to local governments must have flexibility that is based on fiscal conditions and the economic climate in the central government. This is to ensure that the stability of the macro economy is not upset. One method thought to be a means of simultaneously achieving these two conflicting objectives to set the total level of transfers as a fixed proportion of total central government revenue, subject to renegotiation periodically (say, every three to five years) 1. As a stepping off point for discussion of stability and flexibility in fiscal equalization systems, this section will present the example of the Philippines, a country that sets the total amount of its fiscal equalization source at a fixed proportion of central government revenue. b. Design of the distribution formula of fiscal equalization systems 1 Litvack, Ahmad, Bird (1998) 1
2 Fiscal equalization systems should employ a distribution formula for fiscal transfer that is unambiguous, as simple as possible, and based on reliable data. Southeast Asia presents many examples of simple approaches that utilize population, area, type of local government, and other indices; however, this section will focus on the case of Indonesia, which is building a fiscal equalization system that includes mixed-base elements that consider both the fiscal demand and fiscal capacity of local governments. 2. Stability and flexibility in fiscal equalization systems: Considering the case of the Philippines The fiscal equalization system of the Philippines was established in In 1991, the Internal Revenue Allotment (IRA) was expanded through enactment of the Local Government Code of the Philippines under the Aquino government. The IRA is granted to local governments to the central government in order to balance local finances and to ensure systematic administrative management in local governments. The Local Government Code stipulates that 40% of internal revenue of the central government for the year three years previous shall be distributed to local governments as the IRA. The IRA is first distributed to each local government level as follows: To the provinces: 23%; to the cities: 23%; to municipalities: 34%; and to the barangays: 20%. Next, within each level, the IRA is distributed on the basis of population: 50%; land area: 25%; e equal sharing: 25%. Automatic determination of the total amount of fiscal transfer gives such transfer a high degree of predictability for local governments. It is therefore expected to lead to stable fiscal management. However, actual operation of the fiscal equalization system is unsteady, as the central government can reduce the amount of fiscal transfer when it faces fiscal difficulties. For example, in 1998, 5% of the IRA was not released to local governments due to fiscal austerity measures implemented by the Department of Budget and Management (DBM). This caused local governments to bring a lawsuit against the central government 2
3 contesting the legality of these measures; the suit was eventually taken to the Supreme Court 2. Although local governments ended up being declared the victors in the lawsuit, this did not necessarily mean that later IRA allotments from the central government to local governments would be conducted smoothly. In 2000, the Congress shaved off 10 billion pesos from IRA distribution and set it aside as unprogrammed funds ; in other words, funds to be distributed only if revenue exceeded a certain target. In the same year, the DBM asked local governments to submit Annual Investment Plans ahead of IRA delivery. This was a tactic designed to delay delivery in order to reduce the fiscal deficit of the central government. Furthermore, it was reported in 2001 that the central government took off 16 billion pesos from the amount it was required to deliver in order to pursue management based on a reconstituted budget. And in 2003 it was further reported that the central government shaved off 9 billion pesos off the amount it was obligated to deliver in an effort to reconstitute the budget Determining the distribution formula: Considering the case of Indonesia Since the collapse of the Suharto government in 1998, Indonesia has been pursuing rapid decentralization. In 1999, it formulated two laws toward this end: Law No. 22, which establishes a framework for local administration, and Law No. 25, which establishes a framework for fiscal balance between the central government and local governments. Law No. 25 provides for three fiscal transfer systems: revenue sharing, general allotments (Dana Alokasi Umum: DAU), and special allotments (Dana Alokasi Khusu: DAK). DAU are appropriated at a minimum rate of 25% of internal revenue. Ninety percent of DAU is allocated to the district/cities, while 10% is allocated to the provinces. It should be noted that the formula for determining distribution within each district/city or province is still being developed and improved through continuing trial and error. The formula presented here is the DAU calculation method of Rosario G. Manasan, Local Public Finance in the Philippines In Search of Autonomy with Accountability, Discussion Paper Series No Same as above 3
4 3-1. Overview 4 The DAU allocation amount to be received by each local government is comprised of a lump sum amount (LSA), balancing factor amount (BFA), and formula amount (FA). DAU i = LSA i + BFA i + FA i = each local government a. LSA The LSA is distributed evenly to all local governments. It is determined by dividing 10% of the total DAU by the total number of local governments. LSA i = 0.1 DAU T Total number of local governments Methods that distribute funds uniformly without considering size of local government, expenditure needs, or fiscal capacity can be seen as providing allowances for the fixed expenses and indirect expenses of local governments. On the other hand, however, they are also seen as providing an incentive for local governments to break up into smaller units. b. BFA The BFA distributes 50% of the total DAU amount. It is distributed based on the share of all wages paid to civil servants in the relevant local government among total wages for civil servants in all local governments. It is established so that the amount of DAU allocation does not fall below the DAU allocation of the previous year. Wage i BFA i = 0.5 DAU T Wage i Wage: Estimated wage bill for Kabupaten/Kota civil servants for FY The following calculation method presentation is largely based on Bambang Brodjonegoro and Jorge Martinez-Vazquez (2002) and Blane D. Lewis (2002). 4
5 c. FA The FA distributes the amount obtained when the LSA total and BFA total are deducted from the DAU total. It is distributed based on the share of the annual expenditure gap of the relative local government among the annual expenditure gap of all local governments. FA i = (DAU T ΣLSA i ΣBFA i ) FG i FG i The annual expenditure gap is determined by deducting fiscal capacity from expenditure needs. It should be noted that cases in which fiscal capacity exceeds expenditure needs are considered to have a fiscal gap of zero. FG i = EN i FC i 3-2 Expenditure needs Expenditure needs are calculated from the total of annual local government expenditure and the expenditure needs index. Annual local government expenditure utilizes the real annual expenditure of local governments for the previous year (APBD). The expenditure needs index is a function of population, area, poverty, and cost; it uses the most recent annual data. EN i = APBDEXP T (0.4PI 0.1AI 0.1RPI 0.4CI) APBDEXP: Annual local government expenditure of the previous year PI: Population index AI: Area index RPI: Relative poverty index CI: Cost index The population index is obtained from the share of population in the relevant local government among the population of all local governments, and the area index is obtained from the share of area of the relevant local government among the area of all local governments. The relative poverty index indicates the level of poverty, rather than the number of impoverished people. And the cost index is an index showing differences 5
6 in construction costs among individual regions. 3-3 Fiscal Capacity Fiscal capacity is made up of potential local own-source revenue and shared taxes. FC i = OSR i SPT i SIT i 0.75SNR i OSR i: Potential local own-source tax and non-tax revenue SPT i: Shared Property Tax revenue SIT i : Shared Income Tax revenue SNR i : Shared Natural Resource revenue For OSR, potential revenue is used rather than actual revenue. As a result, if taxes that surpass the potential revenue amount are collected, the revenue of the local government increases by this surpassing amount. It can therefore be said to have a built-in incentive that urges local governments to make tax-collection efforts. Discussion Topics - What significance is there when, as in the case of the Philippines, the total amount of fiscal transfer is set as a certain percentage of national revenue? Moreover, what kinds of system should be set up to prevent interference in the macro-level stability of national finances by local government? - What kinds of indices should be used in your country when it designs distribution formulas for fiscal transfer? And, if data collection possibilities are considered, what indices are realistically adoptable? References Brodjonegoro, Bambang and Jorge Martinez-Vazquez (2002), An Analysis of Indonesia s Transfer System: Recent Performance and Future Prospects, International Studies Program Working Paper 02-13, Georgia State University Lewis, Blane D. (2002), 5. Indonesia appearing in Intergovernmental Fiscal Transfers in Asia: Current Practice and Challenges for the Future (ed. Yun-Hwan Kim and Paul Smoke), Asian Development Bank. JICA, Chiho Gyosei to Chiho Bunken: Hokokuso (2001) JICA, Gendai Indoneshia Chiho Bunken/Jichi no Kenkyu (2001) 6
7 Litvack, Jenne, Junaid Ahmad, and Richard Bird (1998), Rethinking Decentralization in Developing Countries, The World Bank. Mochida, Nobuki, Fiscal Decentralization and State-Local Finance: Fundamental Perspectives (2004) The World Bank (2003), Cities in Transition: Urban Sector Review In an Era of Decentralization in Indonesia 7
Fiscal Decentralization Page 2
Fiscal Decentralization Page 2 Fiscal Decentralization Page 3 Fiscal Decentralization Page 4 Fiscal Decentralization after Implementation of Local Government Autonomy in Indonesia Harryanto Nyoto* and
More informationASIAN DEVELOPMENT BANK
ASIAN DEVELOPMENT BANK TAR: INO 34115 TECHNICAL ASSISTANCE TO THE REPUBLIC OF INDONESIA FOR FISCAL DECENTRALIZATION November 2001 CURRENCY EQUIVALENTS (as of 31 October 2001) Currency Unit Rupiah (Rp)
More informationIntergovernmental Fiscal Transfers in Asia: Current Practice and Challenges for the Future. Edited by: Paul Smoke and Yun-Hwan Kim
Intergovernmental Fiscal Transfers in Asia: Current Practice and Challenges for the Future Edited by: Paul Smoke and Yun-Hwan Kim Foreword In recent years, the issue of intergovernmental fiscal transfers
More informationIndex. family allowance in agriculture (AFA) 28 1 Federation Account 220,294,301,338, 474
absolute equality 299 absorptive capacities 120 ACIR 343,365,367 administrative capacity 179,442 administrative efficiency 4 14 administrative grants 235 Advisory Commission on Intergovernmental Fiscal
More informationFISCAL DECENTRALIZATION IN INDONESIA
FISCAL DECENTRALIZATION IN INDONESIA Bambang Brodjonegoro The Institute of Economics and Social Research and The Graduate Program of Economics, University of Indonesia Law 22/1999 and law 25/1999 are the
More informationSoutheast Asia Working Paper Series. Philippines: Designing a Local Government Enhancement Fund
Southeast Asia Working Paper Series Philippines: Designing a Local Government Enhancement Fund Jorge Martínez-Vázquez and Yongzheng Liu No. 7 October 2011 ADB Southeast Asia Working Paper Series Philippines:
More informationAn Analysis of Indonesia s Transfer System: Recent Perfomance and Future Prospects
University International Studies Program Working Paper 02-13 May 2002 An Analysis of Indonesia s Transfer System: Recent Perfomance and Future Prospects Bambang Brodjonegoro Jorge Martinez-Vazquez Georgia
More informationSECTOR ASSESSMENT (SUMMARY): PUBLIC SECTOR MANAGEMENT Sector Performance, Problems, and Opportunities
Country Partnership Strategy: Indonesia, 2012 2014 SECTOR ASSESSMENT (SUMMARY): PUBLIC SECTOR MANAGEMENT 1 Sector Road Map 1. Sector Performance, Problems, and Opportunities 1. Fiscal decentralization.
More informationFinancing initiatives for reducing vulnerability and increasing resilience to impact of climate change. IMACC GIZ PAKLIM
Financing initiatives for reducing vulnerability and increasing resilience to impact of climate change. IMACC 29.07.2013 Adaptation Finance for : Central Government Local Government Private Sector Households
More informationSECTOR ASSESSMENT (SUMMARY): PUBLIC SECTOR MANAGEMENT Sector Performance, Problems, and Opportunities
State Accountability Revitalization Project (RRP INO 38354) Sector Road Map SECTOR ASSESSMENT (SUMMARY): PUBLIC SECTOR MANAGEMENT 1 1. Sector Performance, Problems, and Opportunities 1. Fiscal decentralization.
More informationNORIO USUI ** KANSAI UNIVERSITY
45 TH KANSAI CONVENTION: JAPAN SOCIETY OF INTERNATIONAL ECONOMICS 7 JUNE, 2003 KOBE INTERNATIONAL UNIVERSITY NEW INTERGOVERNMENTAL TRANSFERS IN DECENTRALIZED INDONESIA: KEY CHALLENGES * NORIO USUI ** KANSAI
More informationTHERE HAS BEEN GROWING INTERNATIONAL
INCORPORATING SUBNATIONAL PERFORMANCE INCENTIVES IN THE INDONESIAN INTERGOVERNMENTAL FISCAL FRAMEWORK Blane D. Lewis, National University of Singapore Paul Smoke, New York University INTRODUCTION THERE
More informationLocal Administration in Japan
Series Local Administration in Japan (Aug, 2017, VersionⅢ) Shunsuke Kimura PhD(Law) Professor, Meiji University skimura@meiji.ac.jp Contents Ⅰ Considering our Infrastructure in a Depopulating Society -from
More informationEx-ante Evaluation. Country: Republic of the Philippines Program: Development Policy Support Program (III) and Emergency Budget Support
Japanese ODA Loan Ex-ante Evaluation 1. Name of the Program Country: Republic of the Philippines Program: Development Policy Support Program (III) and Emergency Budget Support Japanese ODA Loan Loan Agreement:
More informationPhilippine (Metro Manila) Case Study on Municipal Finance
Philippine (Metro Manila) Case Study on Municipal Finance NOV. 8, 2018 JUSTINE DIOKNO-SICAT, PHD ASSISTANT PROFESSOR UNIVERSITY OF THE PHILIPPINES (DILIMAN) Research Question and Objective How does decentralization
More informationJonathan Rodden 2004
DOI:10.16158/j.cnki.51-1312/f.2011.07.011 100032 F812. 2 A 1003 5656 ( 2011 ) 07 0061 09 [ 1 A. Dennis Rondinelli 1999 Pranab Bardhan 2002 [ 2 [ 3 Jonathan Rodden 2004 [ 4-61 - ECONOMIST [ 5 [ 6 [ 7 [
More informationFiscal Disparities in East Asia: How Large and Do They M atter?
4 Fiscal Disparities in East Asia: How Large and Do They M atter? Bert Hofman and Susana Cordeiro Guerra The decentralization of revenue sources and expenditure responsibilities to subnational levels of
More informationPROJECT INFORMATION DOCUMENT (PID) ADDITIONAL FINANCING Report No.: PIDA9857. Project Name. Parent Project Name. Region. Country
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized PROJECT INFORMATION DOCUMENT (PID) ADDITIONAL FINANCING Report No.: PIDA9857 Project
More informationExpenditure Management September 2015
Expenditure Management September 2015 Expenditure Management Department of Budget and Management September 2015 2 January to July 2015 National Government fiscal performance Sustained acceleration of infrastructure
More informationPROGRAM-FOR-RESULTS INFORMATION DOCUMENT (PID) CONCEPT STAGE Report No.: Strengthening DAK Transfers To Local Governments Region
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized PROGRAM-FOR-RESULTS INFORMATION DOCUMENT (PID) CONCEPT STAGE Report No.: Program Name
More informationModule A Rationales for Property Tax and the Implementation Challenges
Module A Rationales for Property Tax and the Implementation Challenges Presentation by: Brian McAuley & Sissie Fung ADB Consultants Bangkok, 8-9 November 2018 Global Tax Agendas and ADB operations Sustainable
More informationJapanese ODA Loan. Ex-Ante Evaluation
Japanese ODA Loan Ex-Ante Evaluation 1. Name of the Project Country: The Democratic Socialist Republic of Sri Lanka Project: Development Policy Loan (Private Sector Development, Governance Improvement,
More informationPublic Disclosure Authorized. Public Disclosure Authorized. Public Disclosure Authorized. Public Disclosure Authorized
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Draft 6 January 2008 A Note on the Indonesian Sub-National Government Surplus, 2001-2006
More informationCOPY REGULATION OF THE MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA NUMBER 153/PMK.07/2015 REGARDING
COPY REGULATION OF THE MINISTER OF FINANCE NUMBER 153/PMK.07/2015 REGARDING MAXIMUM LIMIT OF CUMULATIVE DEFICIT OF REGIONAL GOVERNMENT BUDGET REVENUES AND EXPENDITURES, MAXIMUM LIMIT OF DEFICIT OF EXPENDITURES,
More informationThe White Paper on the DAK: Arguments and Possible Solutions
Working Paper #2 The White Paper on the DAK: Arguments and Possible Solutions Unlike in the past when the DAK (Dana Alokasi Khusus) was an important element of fiscal decentralization policy in Indonesia,
More informationEx-ante Evaluation (for Japanese ODA Loan)
Japanese ODA Loan Ex-ante Evaluation (for Japanese ODA Loan) 1. Name of the Program Country: The Republic of Indonesia Project: Development Policy Loan (VI) Loan Agreement: March 19, 2010 Loan Amount:
More informationSUMMARY PROGRAM IMPACT ASSESSMENT. I. Introduction
Local Government Finance and Fiscal Decentralization Reform Program, SP1 (RRP PHI 44253) SUMMARY PROGRAM IMPACT ASSESSMENT I. Introduction 1. This program s impact assessment (PIA) supports the Local Government
More informationFactor Affecting in Economic Growth and Regional Inequity in Indonesia
Factor Affecting in Economic Growth and Regional Inequity in Indonesia Abd. Hamid Paddu Department of Economic, Faculty of Economic and Business, University of Hasanuddin, Makassar, Indonesia Abstract:
More informationSub-National Performance Incentives in the Intergovernmental Framework
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Sub-National Performance Incentives in the Intergovernmental Framework Current Practice
More informationSECTOR ASSESSMENT (SUMMARY): PUBLIC SECTOR MANAGEMENT (PUBLIC EXPENDITURE AND FISCAL MANAGEMENT) 1
Fiscal and Public Expenditure Management Program (Subprogram 2) (RRP INO 50168-002) SECTOR ASSESSMENT (SUMMARY): PUBLIC SECTOR MANAGEMENT (PUBLIC EXPENDITURE AND FISCAL MANAGEMENT) 1 A. Sector Performance,
More informationINDONESIA S DECENTRALIZATION POLICY AFTER SEVENTEEN YEARS : TWO CONTENDING APPROACHES
INDONESIA S DECENTRALIZATION POLICY AFTER SEVENTEEN YEARS : TWO CONTENDING APPROACHES Cecep Effendi University of Muhammadiyah Jakarta, Indonesia cecep.effendi12@gmail.com Abstract Decentralization policy
More informationGovernment Actuary's Department Early and Late Retirement Factors Cover
Cover Explanation Contains excel versions of early retirement factor tables Sheet Description ER1 NPA 60 members, Main Scheme Pension and Lump Sum ER2 NPA 60 members, Additional Pension, contract exercised
More informationFiscal Decentralization after Implementation of Local Government Autonomy in Indonesia
World Review of Business Research Vol. 1. No. 2. May 2011 Pp. 51-70 Fiscal Decentralization after Implementation of Local Government Autonomy in Indonesia Faudziah Hanim Fadzil* and Harryanto Nyoto** This
More informationOFFICE OF THE COORDINATING MINISTER FOR ECONOMIC AFFAIRS OF THE REPUBLIC OF INDONESIA
OFFICE OF THE COORDINATING MINISTER FOR ECONOMIC AFFAIRS OF THE REPUBLIC OF INDONESIA PRESS RELEASE The Draft 2007 : Building Hope for a Brighter Future Jakarta, 16 August 2006 The Draft 2007 represents
More informationUniversity. Georgia State University. International Studies Program. Andrew Young School of Policy Studies
University International Studies Program Working Paper 04-20 November 2004 Harmonizing Objectives and Outcomes at the National and Sub-National Levels through Citizen Engagement and Capacity Building Alex
More informationToward an efficient allocation of national resources through transparent, accountable and fair central local fiscal relationship
The Grand Design of The Fiscal Decentralization in Indonesia Toward an efficient allocation of national resources through transparent, accountable and fair central local fiscal relationship Bambang Brodjonegoro,
More informationAMM Pre-Budget Submission Government of Canada
AMM Pre-Budget Submission February 1, 2016 INTRODUCTION... 2 FEDERAL FUNDING FOR MUNICIPAL INFRASTRUCTURE... 3 COMMUNITY POLICING COSTS & SERVICES... 4 AFFORDABLE & SENIORS HOUSING... 5 DISASTER FINANCIAL
More informationWave 2 of the East Asia Retirement Survey
From Challenge to Opportunity Wave 2 of the East Asia Retirement Survey Richard Jackson President Global Aging Institute Conference & Media Workshop Hanoi September 8, 2015 Gap.GlobalAgingInstitute.org
More informationBlane D. Lewis. Education
January 2018 Blane D. Lewis blane.lewis@anu.edu.au Education Ph.D. Cornell University: M.A. Cornell University: B.A. Lawrence University: Urban Economics August 1989. Urban Economics May 1987. Mathematics
More informationFiscal Transparency and Public Contingent Liabilities
Fiscal Transparency and Public Contingent Liabilities Lessons from Cross-Country Experiences Sudarshan Gooptu Lead Economist Poverty Reduction and Economic Management Sector Unit East Asia and Pacific
More informationFinancial Management: Investment Options for Counties & Local Authorities
Financial Management: Investment Options for Counties & Local Authorities World Context The richest state in the USA is California, which ran a budget deficit of $60Bn in 2009 The world s superpower the
More informationUrban Poverty and Local Governance: Institutional and Financial Implications
Urban Poverty and Local Governance: Institutional and Financial Implications Yasuhiko Matsuda, Sr. Public Sector Specialist Social Protection & Labor Global Practice, South Asia T I T U F R A M E W O R
More informationProposed Policy-Based Loan for Subprogram 2 Local Government Finance and Fiscal Decentralization Reform Program (Philippines)
FOR OFFICIAL USE ONLY (For consideration by the Board on or about 13 December 2016) R163-16 22 November 2016 Proposed Policy-Based Loan for Subprogram 2 Local Government Finance and Fiscal Decentralization
More informationRepublic of the Philippines: Support to Local Government Accountability Systems
Technical Assistance Report Project Number: 44253-014 Capacity Development Technical Assistance (CDTA) December 2015 Republic of the Philippines: Support to Local Government Accountability Systems This
More informationCBMS Network Evan Due, IDRC Singapore
Community Based Monitoring System CBMS Network Evan Due, IDRC Singapore Outline of Presentation What is CBMS Rationale for Development of CBMS Key Features of CBMS Case Presentation: CBMS in the Philippines
More informationAnalysis of Financial Performance of Local Government through South Tangerang Calculation of Realization Regional Budget
Analysis of Financial Performance of Local Government through South Tangerang Calculation of Realization Regional Budget Khayatun Nufus Hadi Supratikta Awaluddin Muchtar Lecturer of Pamulang University,
More informationTax Reform for Acceleration and Inclusion
DRAFT FOR DISCUSSION. SUBJECT TO CHANGE. Tax Reform for Acceleration and Inclusion Revised package 1 (Amended DOF bill) As of 04 September, 2017 9:59 AM (Full presentation) DRAFT FOR DISCUSSION. SUBJECT
More informationTax Law Design and Policy Series No 1015, July 2015 Fiscal Decentralization and Sub-national Taxes: Specific Case of Indonesia. Adri A. L.
Tax Law Design and Policy Series No 1015, July 2015 Fiscal Decentralization and Sub-national Taxes: Specific Case of Indonesia Adri A. L. Poesoro Fiscal Decentralization and Sub-national Taxes: Specific
More informationFiscal Transfers in the Republic of the Sudan. Introduction to fiscal transfers. Fiscal transfers in the Sudan. Comparative fiscal transfer formulae
Fiscal Transfers in the Republic of the Sudan Introduction to fiscal transfers Fiscal transfers from the national level are intended to help subnational levels of government meet their expenses. Fiscal
More informationINTERNATIONAL MONETARY FUND AND THE INTERNATIONAL DEVELOPMENT ASSOCIATION MALAWI
INTERNATIONAL MONETARY FUND AND THE INTERNATIONAL DEVELOPMENT ASSOCIATION MALAWI Poverty Reduction Strategy 2003/04 Annual Progress Report Joint Staff Advisory Note Prepared by the Staffs of the IMF and
More informationBOC Hong Kong (Holdings) Limited ( The Company ) Shareholders Q&A Following the Annual General Meeting on 27 June 2018
BOC Hong Kong (Holdings) Limited ( The Company ) Shareholders Q&A Following the Annual General Meeting on 27 June 2018 * * * * * Attendees: Executive Directors Mr Gao Yingxin (Vice Chairman and Chief Executive)
More informationThe Rise of Global OCIO Services and the Implications
The Rise of Global OCIO Services and the Implications Kim, Jaechil Institutional investors in the US and Europe tend to outsource investment management to external managers, i.e., outsourced chief investment
More informationReducing Poverty. Indonesia: Ideas for the Future
Indonesia: Ideas for the Future Reducing Poverty Indonesia s Poverty Challenge Over 110 million Indonesians live on less than US$2 a day equivalent to the entire populations of Malaysia, Vietnam, and Cambodia
More informationSUPPLEMENTARY DOCUMENT 3: THE PROPOSED NATIONAL COMMUNITY-DRIVEN DEVELOPMENT PROGRAM 1
KALAHI CIDSS National Community-Driven Development Project (RRP PHI 46420) SUPPLEMENTARY DOCUMENT 3: THE PROPOSED NATIONAL COMMUNITY-DRIVEN DEVELOPMENT PROGRAM 1 A. Program Objective and Outcomes 1. The
More informationEducational, ultural Organization Executive Board
ex Educational, ultural Organization Executive Board Hundred and thirtv-fifth Session 0 e 135 EX/21 PARIS, 25 July 1990 Original: English Item 7.'5 of the provisional agenda PROCEDURES FOR THE PROTECTION
More informationJOINT USE COORDINATING COMMITTEE AND JOINT USE RESERVE FUND ANNUAL REPORT
Page 1 of 5 EXECUTIVE SUMMARY On an annual basis, an update report on the Joint Use Coordinating Committee (JUCC) work plan and the status of the Joint Use Reserve Fund is presented to Council for information.
More informationWave 2 of the East Asia Retirement Survey
From Challenge to Opportunity Wave 2 of the East Asia Retirement Survey Richard Jackson President Global Aging Institute PPI Winter Roundtable Los Angeles February 26, 2016 www. GlobalAgingInstitute.org
More informationRepublic of the Philippines: Supporting Capacity Development for the Bureau of Internal Revenue
Technical Assistance Report Project Number: 46429-001 Capacity Development Technical Assistance (CDTA) April 2013 Republic of the Philippines: Supporting Capacity Development for the Bureau of Internal
More informationMEASURING FISCAL DECENTRALISATION IN INDONESIA Heru Wibowo
MEASURING FISCAL DECENTRALISATION IN INDONESIA Heru Wibowo Abstract Indonesia has implemented a substantial decentralisation policy, both administrative and fiscal, since 2001 as mandated by Law No. 22
More informationJapanese ODA Loan. Ex-ante Evaluation
Japanese ODA Loan Ex-ante Evaluation 1. Name of the Project Country: Republic of Indonesia Project: Development Policy Loan (V) Loan Agreement: March 24, 2009 Loan Amount: 9,293 million Yen Borrower:The
More informationIndonesia has made substantial progress. Leaving poverty behind. Vivi Alatas. Indonesia 360 o
Leaving poverty behind Policy responses to help Indonesian families overcome vulnerability to poverty Vivi Alatas AFP PHOTO / ROMEO GACAD Indonesia has made substantial progress in tackling poverty over
More informationSession 8 Case Study: PHI: Development Policy Support Program Kelly Bird Southeast Asia Regional Department
Session 8 Case Study: PHI: Development Policy Support Program Kelly Bird Southeast Asia Regional Department Introductory Course on Economic Analysis of Policy-Based Lending Operations 7 June 2007 ADB-Philippines
More informationTable 1. Democratic Republic of the Congo: Fiscal Measures Planned for 2001
Table 1. Democratic Republic of the Congo: Fiscal Measures Planned for 2001 Measures Implementation Generation of revenue Depositing of all tax and off-budget revenue with the Central Bank of the Congo
More informationEx-Ante Evaluation (for Japanese ODA Loan)
Japanese ODA Loan Ex-Ante Evaluation (for Japanese ODA Loan) 1.Name of the Project Country: Ukraine Project: Economic Reform Development Policy Loan (Ⅱ) Loan Agreement: December 4, 2015 Loan Amount: JPY
More informationScholars Journal of Economics, Business and Management e-issn
DOI: 10.21276/sjebm Scholars Journal of Economics, Business and Management e-issn 2348-5302 Sch J Econ Bus Manag, 2017; 4(6):368-376 p-issn 2348-8875 SAS Publishers (Scholars Academic and Scientific Publishers)
More informationWave 2 of the East Asia Retirement Survey
From Challenge to Opportunity Wave 2 of the East Asia Retirement Survey Richard Jackson President Global Aging Institute Hong Kong Media Roundtable Hong Kong September 4, 2015 Gap.GlobalAgingInstitute.org
More informationPhilippine Government Thrusts on Public Financial Management (PFM)
BUDGETING REFORMS Philippine Government Thrusts on Public Financial Management (PFM) Presentation By: Undersecretary Mario L. Relampagos Department of Budget and Management, Philippines Focus on Social
More informationAchieving the Sustainable Development Goals: The Role of Capacity Development
Achieving the Sustainable Development Goals: The Role of Capacity Development Mark Lewis IMF-World Bank Spring Meetings April 2017 IMF PARTNER ON THE ROAD TO PARIS (2015) 2 IMF Support to Sustainable Development:
More informationFiscal transfer between different levels of governments in Vietnam
Fiscal transfer between different levels of governments in Vietnam (Paper for the Symposium in Tokyo, Japan - February 9-10, 2001) Content I. The administrative and State budget structure of the socialist
More informationAMERICAN REVIEW OF POLITICAL ECONOMY
AMERICAN REVIEW OF POLITICAL ECONOMY Investment Expenditures of Local municipalities in Japan in the 2000s Masato Miyazaki Saitama University miyazaki@mail.saitama-u.ac.jp Abstract In this paper, I analyzed
More informationEvaluation Approach Validation of Indonesia Country Partnership Strategy Final Review November 2014
6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines Tel +63 2 632 4444; Fax +63 2 636 2163 evaluation@adb.org; www.adb.org/evaluation/ Evaluation Approach Validation of Indonesia Country Partnership
More informationPRACTICAL GUIDELINES for Preparing a Public Expenditure Review for Education at the District Level
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized 53286 PRACTICAL GUIDELINES for Preparing a Public Expenditure Review for Education at
More informationSUBSECTOR ASSESSMENT (SUMMARY): COMMUNITY-DRIVEN DEVELOPMENT
Country Operations Business Plan: Philippines, 2014 2016 SUBSECTOR ASSESSMENT (SUMMARY): COMMUNITY-DRIVEN DEVELOPMENT A. Sector Road Map 1. Sector Performance, Problems, and Opportunities 1. Sector performance.
More information[Symbol] THE PRESIDENT OF THE REPUBLIC OF INDONESIA
[Symbol] THE PRESIDENT OF THE REPUBLIC OF INDONESIA LAW OF THE REPUBLIC OF INDONESIA NUMBER 25 YEAR 1999 CONCERNING FINANCIAL BALANCE BETWEEN THE CENTRAL & REGIONAL GOVERNMENT WITH THE BLESSING OF THE
More informationConsolidated Financial Statements
Consolidated Financial Statements Consolidated Financial Statements Consolidated Balance Sheet MANDOM CORPORATION and its Consolidated Subsidiaries As of March 31, 2016 Assets CURRENT ASSETS: Cash and
More informationCRS Report for Congress Received through the CRS Web
Order Code RL30631 CRS Report for Congress Received through the CRS Web Retirement Benefits for Members of Congress July 31, 2000 Patrick Purcell Specialist in Social Legislation Domestic Social Policy
More informationSTABILITY PROGRAMME:
STABILITY PROGRAMME: 2006-2008 After the severe, unexpected slowdown in activity in 2003 and in view of the increase in the public deficit triggered by this slowdown, the government has reaffirmed the
More informationNwe Nwe Win Director General Budget Department Ministry of Planning and Finance Myanmar
4 th High-Level Dialogue on Financing for Development in Asia and the Pacific Nwe Nwe Win Director General Budget Department Ministry of Planning and Finance Myanmar Bangkok, Thailand 28 th April, 2017
More informationAnti-Poverty in China: Minimum Livelihood Guarantee Scheme
National University of Singapore From the SelectedWorks of Jiwei QIAN Winter December 2, 2013 Anti-Poverty in China: Minimum Livelihood Guarantee Scheme Jiwei QIAN Available at: https://works.bepress.com/jiwei-qian/20/
More informationLocal Government Bonds
Last Updated: February 26, 2008 Local Government Bonds 1. The basics behind rating local government bonds JCR evaluates local government bonds in Japan by assessing local governments in conjunction with
More informationSupporting an Effective Institutional Framework for Fiscal Decentralization Reforms
Government of the Republic of Indonesia Ministry of Home Affairs Asian Development Bank Supporting an Effective Institutional Framework for Fiscal Decentralization Reforms ADB TA No.4682INO FINAL REPORT
More informationFiscal policy for inclusive growth in Asia
Fiscal policy for inclusive growth in Asia Dr. Donghyun Park, Principal Economist Economics and Research Department, Asian Development Bank PRI-IMF-ADBI Tokyo Fiscal Forum on Fiscal Policy toward Long-Term
More informationReport and Recommendation of the President to the Board of Directors
Report and Recommendation of the President to the Board of Directors Sri Lanka Project Number: 38264-01 October 2008 Proposed Program Cluster and Loan for Subprogram I Republic of Indonesia: Second Local
More informationIntroduction to Commercial Arbitration in China
Introduction to Commercial Arbitration in China Li Hu I. Chinese Arbitration Act 1994 Arbitration Legislation Chinese special culture has fostered the fine tradition of resolving disputes through arbitration,
More informationChapter 6. The Process of Tax Policymaking and Legislation
Chapter 6 The Process of Tax Policymaking and Legislation 6.1. Tax policy and legislation In most countries the tax administration is not responsible for tax policy and tax legislation. Advising on policy
More informationChapter 1. Fiscal Space and Management
Chapter 1 Fiscal Space and Management Key Findings Public investment as a share of GDP has returned to pre-crisis levels with sub-national governments emerging as key drivers of investment. The increase
More informationKorea s Ease of Doing Business
The Association of Southeast Asian Nations Korea s Ease of Doing Business Commercial Legal Affairs Division Ministry of Justice Republic of Korea Table of Contents 1. What is Doing Business? (Enforcing
More informationFederal Employees: Pay and Pension Increases Since 1969
Cornell University ILR School DigitalCommons@ILR Federal Publications Key Workplace Documents January 2008 Federal Employees: Pay and Pension Increases Since 1969 Patrick Purcell Congressional Research
More informationPolitics of Budgeting in Indonesia: A Quest for Transparency and Accountability
Politics of Budgeting in Indonesia: A Quest for Transparency and Accountability Wahyudi Kumorotomo, PhD Dept of Public Policy and Management Gadjah Mada University Indonesia 2018 kumoro@ugm.ac.id Topics
More informationCapital Markets, Corporate Governance, and Long-term Financing for Development. Chalongphob Sussangkarn. Thailand Development Research Institute
Capital Markets, Corporate Governance, and Long-term Financing for Development Chalongphob Sussangkarn Thailand Development Research Institute Importance of Financing Structure for Stable Development Lesson
More informationJoint Memorandum Circular No. 1 Series of March 2007
REPUBLIC OF THE PHILIPPINES Department of the Interior and Local Government National Economic and Development Authority Department of Budget and Management Department of Finance Joint Memorandum Circular
More informationSUB MODULE 2 DECENTRALIZATION AND THE ROLE OF THE CENTRAL GOVERNMENT
SUB MODULE 2 DECENTRALIZATION AND THE ROLE OF THE CENTRAL GOVERNMENT Case Study 2 Function and Role of the Council on Economic and Fiscal Policy Trinity reform as an example In this case study, we will
More informationFinancial Crises. Benjamin Graham. Videos in this lecture are from Kahn Academy
Financial Crises Videos in this lecture are from Kahn Academy Today s Plan An updated syllabus is posted Today s topics: Kahn Academy Videos on foreign currency reserves and speculative attacks The Asian
More informationEconomic and Social Council
United Nations E/CN.3/2016/10 Economic and Social Council Distr.: General 17 December 2015 Original: English Statistical Commission Forty-seventh session 8-11 March 2016 Item 3 (f) of the provisional agenda*
More informationAnalysis of CBO s Budget Outlook: Fiscal Years
Analysis of CBO s Budget Outlook: Fiscal Years 2012-2022 Feb 01, 2012 INTRODUCTION The Congressional Budget Office's (CBO) latest Budget and Economic Outlook provides sobering new evidence that our nation's
More informationINTRODUCING RESULTS-BASED APPROACHES INTO PUBLIC SECTOR MANAGEMENT PROCESSES: The Philippine Experience
INTRODUCING RESULTS-BASED APPROACHES INTO PUBLIC SECTOR MANAGEMENT PROCESSES: The Philippine Experience A Paper Presented by SECRETARY EMILIA T. BONCODIN Philippines 2 nd International Roundtable on Managing
More informationRURAL DEVELOPMENT & NATURAL RSOURCE MANAGEMENT: TRENDS, STRATEGY IMPLEMENTATION AND FRAMEWORK PERFORMANCE INDICATOR SYSTEM May 2, 2000
RURAL DEVELOPMENT & NATURAL RSOURCE MANAGEMENT: TRENDS, STRATEGY IMPLEMENTATION AND FRAMEWORK PERFORMANCE INDICATOR SYSTEM May 2, 2000 EXECUTIVE SUMMARY INTRODUCTION 1. President Estrada s Government has
More informationRating Methodology for Local Public Bodies
Last updated: June 1, 2017 Rating Methodology for Local Public Bodies In rating a local public body, JCR assesses each local public body s tax-bearing capacity, fiscal conditions, fiscal management, and
More informationThe adaptation of monetary policy to the constraints of the global financial crisis by central banks of ASEAN-5 countries
Bulletin of the Transilvania University of Braşov Series V: Economic Sciences Vol. 8 (57) No. 2-2015 The adaptation of monetary policy to the constraints of the global financial crisis by central banks
More informationRationalle for the Sendai Framework for DRR Evidence from the 2009, 2011 and 2013 Global Assessment Report on DRR
Rationalle for the Sendai Framework for DRR Evidence from the 2009, 2011 and 2013 Global Assessment Report on DRR Good progress in Hyogo Framework for Action (HFA) implementation has been made, but more
More information