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The paper presents statistical data on gross domestic product, prices, average monthly wage, employment by sector, labor market indicators, unit labor costs by sector, summary of general government operations, general government revenue, and expenditures of Estonia. The paper also presents data on fiscal balances by government sector, analytical accounts of banking institutions, maturity and currency composition of deposits, average interest rates of deposits and loans, nonperforming loans of commercial banks, balance of payments, direction of trade-exports by countries, and other related economic indices.

Public Finance --- National Government Expenditures and Related Policies: General --- Public finance & taxation --- Public expenditure review --- Expenditure --- Expenditures, Public --- Estonia, Republic of

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Intergovernmental equalization grants have been described as “the glue that holds a nation together.” Getting the grants system right is critical to countries as they decentralize. This paper illustrates general principles with an example based on Indonesia in 2000. A general grant should be used to supplement own revenues and to finance local service provision where there are no central mandates. The special needs of backward regions would be better provided for by specific grants. Specific grants need to be taken into account in the general grants scheme.

Public Finance --- Demography --- National Government Expenditures and Related Policies: General --- Education: General --- Demographic Economics: General --- Health: General --- Public finance & taxation --- Education --- Population & demography --- Health economics --- Expenditure --- Total expenditures --- Population and demographics --- Health --- Expenditures, Public --- Population --- Indonesia

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This paper assesses the effects of expenditure composition as well as fiscal adjustment on economic growth in a sample of 39 low-income countries during the 1990s. The paper finds that strong budgetary positions and fiscal consolidation are generally associated with higher economic growth in both the short and long terms. The composition of public outlays also matters: Countries where spending is concentrated on wages tend to have lower growth, while those that allocate higher shares to capital and nonwage goods and services enjoy faster output expansion. Expenditure composition, along with the size of the fiscal consolidation and initial fiscal conditions, affects the sustainability of adjustment. Initial fiscal conditions also have a bearing on the nexus between fiscal deficits and growth.

Macroeconomics --- Public Finance --- Fiscal Policy --- Macroeconomics: Production --- National Government Expenditures and Related Policies: General --- Taxation, Subsidies, and Revenue: General --- Public finance & taxation --- Fiscal consolidation --- Expenditure --- Fiscal policy --- Expenditure composition --- Revenue administration --- Expenditures, Public --- Revenue --- Benin

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This paper examines the rationale for a top-down approach to budget preparation and approval, and discusses some factors that have to be considered when reorienting the budget process along these lines. The paper argues that the sequence in which budgetary decisions are taken matters, and that a strong top-down approach strengthens fiscal discipline and improves policy prioritization and coordination. Top-down budgeting also alters the division of roles and responsibilities between the central budget authority and line ministries, and requires that the process of determining the total expenditure level, sectoral allocations and individual appropriations is clarified. Finally, the paper argues that strong top-down elements in the parliamentary budget voting process can be effective in addressing the risk of excessive and unsustainable amendments during budget approval.

Budgeting --- Public Finance --- National Budget --- Budget Systems --- National Government Expenditures and Related Policies: General --- Fiscal Policy --- Budgeting & financial management --- Public finance & taxation --- Macroeconomics --- Budget planning and preparation --- Expenditure --- Total expenditures --- Fiscal policy --- Central government spending --- Budget --- Expenditures, Public --- Switzerland

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Enhancing the efficiency of education and health spending is a key policy challenge in G7 countries. The paper assesses this efficiency and seeks to establish a link between differences in efficiency across countries and policy and institutional factors. The findings suggest that reforms aimed at increasing efficiency need to take into account the nature and causes of inefficiencies. Inefficiencies in G7 countries mostly reflect lack of cost effectiveness in acquiring real resources, such as teachers and pharmaceuticals. We also find that high wage spending is associated with lower efficiency. In addition, lowering student-teacher ratios is associated with reduced efficiency in the education sector, while immunizations and doctors' consultations coincide with higher efficiency in the health sector. Greater autonomy for schools seems to raise efficiency in secondary education.

Public Finance --- Education: General --- National Government Expenditures and Health --- National Government Expenditures and Education --- Health: General --- National Government Expenditures and Related Policies: General --- Public finance & taxation --- Education --- Health economics --- Health care spending --- Education spending --- Health --- Expenditure --- Expenditures, Public --- Germany