The Role of Financial Programming in Macroeconomic Policy Management
AbstractMost African governments have made considerable progress in pursuing macroeconomic stabilization, usually under the tutelage of the International Monetary Fund. Policy targets for the IMF-supported programs are universally derived from some variation of the standard financial programming methodology. Yet most governments in the region remain dependent on the Fund for the technical analysis. This technical dependency often engenders a lack of ownership of program targets, and the targets themselves are often unrealistic, on the side of austerity. This paper makes the case that African governments must now develop their own financial programming models and system, to take command of the technical analysis, negotiate with the Fund in more pro-active terms, and establish the foundation for a deeper commitment to prudent macroeconomic policy management. Every country has economists who have been trained in financial programming. This is a start, but a concerted effort is needed to develop practical, customized applications, with supporting systems to implement, maintain and refine the models.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Harvard - Institute for International Development in its series Papers with number 720.
Length: 28 pages
Date of creation: 1999
Date of revision:
Contact details of provider:
Postal: CAER Project, Harvard Institute for International Development, 14 Story Street, Cambridge MA 02138O
Web page: http://www.hiid.harvard.edu/
More information through EDIRC
Find related papers by JEL classification:
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
- O20 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - General
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Thilak Ranaweera, 2004. "Ghost of the financing gap: an overlooked aspect of the aid debate," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(4), pages 637-652.
- Gachet, Ivan & Girjalva, Diego & Rivadeneira, Ana & Uribe, Carlos, 2007.
"Un Marco de Consistencia Macroeconómica para la Economía Ecuatoriana: Un Regreso a los Fundamentos
[Macroeconomic Consistency Framework for the Ecuadorian Economy: Getting Back to Fundamentals]," MPRA Paper 16799, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Krichel).
If references are entirely missing, you can add them using this form.