Quality of Macro-Fiscal Frameworks in Development Policy Operations

Independent Evaluation Group (IEG), Learning Product, World Bank, June 15, 2015

67 Pages Posted: 4 May 2018

See all articles by Zeljko Bogetic

Zeljko Bogetic

World Bank

Javier Bronfman

Independent

Malathi Jayawickrama

Independent

Marko Klasnja

New York University

Aghassi Mkrtchyan

UNDP Armenia - Country Office

Moritz Piatti

World Bank

Jesse Torrence

Independent

Marcelo Selowsky

International Monetary Fund (IMF)

Date Written: June 15, 2015

Abstract

The paper analyzes the following three questions of importance for the quality of design and effectiveness of the World Bank's budget support (development policy operations--DPOs):

What has been the quality of macro-fiscal frameworks and their building blocks in DPOs? What factors may be related to the quality of macro-fiscal frameworks and the success of DPOs? And what good practices can be identified that may provide lessons for the future design and implementation of DPO macro-fiscal frameworks? To answer these questions, the paper uses a combination of evaluation methods, including qualitative review and ratings, regression analysis, and case studies. The total of 390 DPOs during the period 2005-13 are analyzed using qualitative and regression analyses, including 15 case studies.

Keywords: budget support, macroeconomic framework, development effectiveness, World Bank

JEL Classification: E6, F63, H6, O11

Suggested Citation

Bogetic, Zeljko and Bronfman, Javier and Jayawickrama, Malathi and Klasnja, Marko and Mkrtchyan, Aghassi and Piatti, Moritz and Torrence, Jesse and Selowsky, Marcelo, Quality of Macro-Fiscal Frameworks in Development Policy Operations (June 15, 2015). Independent Evaluation Group (IEG), Learning Product, World Bank, June 15, 2015. Available at SSRN: https://ssrn.com/abstract=3165086

Zeljko Bogetic (Contact Author)

World Bank ( email )

1818 H Street, N.W.
Washington, DC 20433
United States

Javier Bronfman

Independent

No Address Available

Malathi Jayawickrama

Independent

No Address Available

Marko Klasnja

New York University ( email )

715 Broadway
New York, NY 10003
United States

HOME PAGE: http://https://files.nyu.edu/mk3296/public/index.html

Aghassi Mkrtchyan

UNDP Armenia - Country Office ( email )

United Nations House 14
Adamyan Street
Yerevan, 375010
Armenia

HOME PAGE: http://www.undp.am/?page=office

Moritz Piatti

World Bank ( email )

1818 H Street, NW
Washington, DC 20433
United States

Jesse Torrence

Independent

No Address Available

Marcelo Selowsky

International Monetary Fund (IMF)

700 19th Street, N.W.
Washington, DC 20431
United States

Register to save articles to
your library

Register

Paper statistics

Downloads
8
Abstract Views
112
PlumX Metrics