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The World Bank revised minimum standard model (RMSM) : concepts and issues

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  • Addison, Doug

Abstract

The Revised Minimum Standard Model (RMSM) was originally created in 1973 as a means of ensuring a consistent approach to World Bank projections and thus facilitate intercountry comparisons. These objectives are met through the provision of a standard list of variables and a minimum set of economic relationships. The RMSM is a thinking and planning tool. Its primary purpose, like the original two-gap models, is to show the user what levels of investment, imports, and external borrowing will be required for a targeted real GDP growth rate. The planners choice of a real growth rate will determine what level of investment will be necessary.

Suggested Citation

  • Addison, Doug, 1989. "The World Bank revised minimum standard model (RMSM) : concepts and issues," Policy Research Working Paper Series 231, The World Bank.
    • Handle: RePEc:wbk:wbrwps:231
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    Citations

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    Cited by:

    1. Ramaharo, Franck M., 2020. "A simplified macroeconomic framework," MPRA Paper 102086, University Library of Munich, Germany.
    2. E. V. K. Fitzgerald, 1992. "Private Sector Investment and Savings Behaviour: The Policy Implications of Capital Account Disaggregation," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 31(4), pages 491-510.
    3. Miladin Kovačević & Stojan Stamenković, 2010. "Methodological Basis for Macroeconomic Projections in Countries Exposed to Pressures and Shocks: Example of Serbia," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(2), pages 225-243, June.
    4. Amal Nagah Elbeshbishi, . "Evaluating the World Bank's Role in Supporting Structural Adjustment in Developing Countries With Special Reference to Egypt," Fordham Economics Dissertations, Fordham University, Department of Economics, number 2000.1.
    5. Ramaharo, Franck M., 2021. "A simple macroeconomic framework for Madagascar," MPRA Paper 112092, University Library of Munich, Germany.
    6. Elson, Diane, 1995. "Gender Awareness in Modeling Structural Adjustment," World Development, Elsevier, vol. 23(11), pages 1851-1868, November.

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