› › Government Wage Bill Management And Civil Service Reform In The Eastern Caribbean Currency Union

Government Wage Bill Management and Civil Service Reform in the Eastern Caribbean Currency Union

Author : Mr.A. E. Wayne Mitchell

Publisher : International Monetary Fund

Page : 33 pages

File Size : 37,15 MB

Release : 2019-05-17

Category : Business & Economics

ISBN : 1498304214

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Book Description

In this study, we assess the size of the government wage bill and employment in the member countries of the Eastern Caribbean Currency Union and their implications for fiscal sustainability and the adequacy of public service delivery. Over the period 2005 to 2015 their wage bill (as a percentage of GDP, government revenues and expenditures) is higher than in other small states notwithstanding recent efforts by governments to make it more manageable. The composition and distribution of employment is sub-optimal and is reflected in skills mismatches contributing to inefficiencies in public service delivery. Using a dynamic fixed-effects panel, we find that wage bill growth reflects the expansion of government activities to speed up economic and social development and that wage bill spending is procyclical in good times but is rigid during downturns. Finally, we identify the main institutional and legal reforms needed to improve wage bill management and public service efficiency.



Eastern Caribbean Currency Union

Author : International Monetary Fund

Publisher : International Monetary Fund

Page : 90 pages

File Size : 22,58 MB

Release : 2011-01-28

Category : Business & Economics

ISBN : 145521390X

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Book Description

Real regional gross domestic product (GDP) contracted by 6 percent in 2009, reflecting a collapse in tourist arrivals and foreign direct investment (FDI)-financed construction activity. The global financial and economic crisis has also exposed areas of significant weaknesses, notwithstanding reforms implemented by a number of member countries. Executive Directors concurred that the urgent challenge is fiscal consolidation. They noted IMF staff’s assessment that the real effective exchange rate (REER) appears broadly in line with current fundamentals.



The Eastern Caribbean Economic and Currency Union

Author : Mr.Alfred Schipke

Publisher : International Monetary Fund

Page : 546 pages

File Size : 36,31 MB

Release : 2013-04-10

Category : Business & Economics

ISBN : 1616352655

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Book Description

The Eastern Caribbean Economic and Currency Union (OECS/ECCU) is one of four currency unions in the world. As in other parts of the world in the aftermath of the global economic and financial crisis, the region is at a crossroads, facing the major challenges of creating jobs, making growth more inclusive, reforming the banking system, and managing volatility, while grappling with high public debt and persistent low economic growth. Policymakers have the critical task of implementing strong reforms to strengthen the monetary union while also laying the foundation for accelerating growth. This Handbook provides a comprehensive analysis of the key issues in the OECS/ECCU, including its organization and economic and financial sector linkages, and provides policy recommendations to foster economic growth.



Explaining High Unemployment in ECCU Countries

Author : Ronald James

Publisher : International Monetary Fund

Page : 32 pages

File Size : 29,48 MB

Release : 2019-07-11

Category : Business & Economics

ISBN : 1498318703

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Book Description

In recent years, unemployment rates in some ECCU countries have been among the highest globally. This paper evaluates several factors that could explain them, finding that high unit labor costs, in a context of strong unionization, are significantly associated with high structural unemployment, while the global crisis added a cyclical component. Our analysis also suggests that high-paid jobs in the public and tourism sectors, which have been growing considerably in recent decades, could have increased the reservation wage and lowered labor force participation. We find no indication that high structural unemployment is related to the phase out of EU preferences on bananas/sugar exports or to a skills mismatch. As expected, unemployment has been substantially, but only temporarily fueled by large natural disasters.



Managing Government Compensation and Employment - Institutions, Policies, and Reform Challenges

Author : International Monetary Fund. Fiscal Affairs Dept.

Publisher : International Monetary Fund

Page : 99 pages

File Size : 19,25 MB

Release : 2016-08-04

Category : Business & Economics

ISBN : 1498345778

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Book Description

Government compensation and employment policies are important for the efficient delivery of public services which are crucial for the functioning of economies and the general prosperity of societies. On average, spending on the wage bill absorbs around one-fifth of total spending. Cross-country variation in wage spending reflects, in part, national choices about the government’s role in priority sectors, as well as variations in the level of economic development and resource constraints.



A Decade of Civil Service Reform in Sub-Saharan Africa

Author : Mr. Ian Lienert

Publisher : International Monetary Fund

Page : 48 pages

File Size : 22,58 MB

Release : 1997-12-01

Category : Business & Economics

ISBN : 1451904355

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Book Description

This paper assesses a decade of experience in civil service reform in a sample of 32 sub-Saharan African countries. Many countries have made an important start towards reducing excessive staffing levels and the nominal wage bill, but less progress has been made in decompressing salary differentials in favor of higher-grade staff. In the CFA franc zone countries, real wages fell sharply after the 1994 devaluation, but the wage bill relative to tax revenue is still high in many countries. There is a need to consolidate quantitative first-generation reforms that contribute to macroeconomic stabilization. Equally important is the need to make progress on qualitative second-generation reforms, especially remuneration and promotion policies that reward performance and measures to improve civil service management. Such policies will require strong political commitment by governments.



Eastern Caribbean Currency Union

Author : International Monetary Fund. Western Hemisphere Dept.

Publisher : International Monetary Fund

Page : 78 pages

File Size : 26,6 MB

Release : 2017-06-14

Category : Business & Economics

ISBN : 1484303377

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Book Description

This paper discusses key points of 2017 Discussions on Common Policies of Member Countries of the Eastern Caribbean Currency Union (ECCU). Favorable external conditions continue to support economic recovery in the ECCU, but flat tourism receipts and falling revenues from citizenship programs have weakened growth. The fiscal position has deteriorated slightly, and public debt remains high. Despite progress on financial sector reform, bank lending continues to decline while indigenous banks’ profitability is adversely impacted by increasing costs to secure correspondent banking relationships. The short-term outlook is favorable and risks are broadly balanced, but strong structural policies are needed to address impediments to medium-term growth.



The State of State Reforms in Latin America

Author : Eduardo Lora

Publisher : World Bank Publications

Page : 474 pages

File Size : 47,58 MB

Release : 2006-10-23

Category : Political Science

ISBN : 0821365762

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Book Description

Latin America suffered a profound state crisis in the 1980s, which prompted not only the wave of macroeconomic and deregulation reforms known as the Washington Consensus, but also a wide variety of institutional or 'second generation' reforms. 'The State of State Reform in Latin America' reviews and assesses the outcomes of these less studied institutional reforms. This book examines four major areas of institutional reform: a. political institutions and the state organization; b. fiscal institutions, such as budget, tax and decentralization institutions; c. public institutions in charge of sectoral economic policies (financial, industrial, and infrastructure); and d. social sector institutions (pensions, social protection, and education). In each of these areas, the authors summarize the reform objectives, describe and measure their scope, assess the main outcomes, and identify the obstacles for implementation, especially those of an institutional nature.



Dominica

Author : International Monetary Fund

Publisher : International Monetary Fund

Page : 75 pages

File Size : 50,28 MB

Release : 2002-10-10

Category : Business & Economics

ISBN : 1451810784

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Book Description

This paper examines Dominica’s 2002 Article IV Consultation and a Request for Stand-By Arrangement (SBA). The authorities' program for 2002/03, for which support through a one-year SBA is being requested, is aimed at restoring order to the public finances and relaxing the cash constraint to protect essential public expenditure and reduce public debt to the banking system. The IMF staff is of the view that the authorities’ economic program is consistent with the objective of laying a basis for sustained growth of output and employment over the medium term.



Subsidy Reform in the Middle East and North Africa

Author : Mr.Carlo A Sdralevich

Publisher : International Monetary Fund

Page : 130 pages

File Size : 18,19 MB

Release : 2014-07-09

Category : Business & Economics

ISBN : 1498350437

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Book Description

In the Middle East and North Africa (MENA) countries price subsidies are common, especially on food and fuels. However, these are neither well targeted nor cost effective as a social protection tool, often benefiting mainly the better off instead of the poor and vulnerable. This paper explores the challenges of replacing generalized price subsidies with more equitable social safety net instruments, including the short-term inflationary effects, and describes the features of successful subsidy reforms.