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Fiscal Resilience Building: Insights from a New Tax Revenue Diversification Index
Does the reliance on diversified tax structure enhance resilience to fiscal risks? This paper gives an answer to this question by proposing a new cross-country tax revenue diversification index (RDI). The RDI builds on the Theil index, and unlike the few existing tax diversification indices, which are constructed only at the state level for the US, is computed at the national level, covering a broad panel of 127 countries over the period 2000-15. We find suggestive evidence that tax revenue diversification reduces tax revenue volatility, thus bringing to the data long-held views about the prominence of tax revenue diversification for fiscal resilience strengthening. While exploring the drivers of the RDI, we find that tax revenue diversification is not just a reflection of economic diversification, but also an outcome of macroeconomic, political and institutional factors. Interestingly, a non-monotone relationship is also at play between the RDI and economic development, with countries’ portfolio of tax sources getting more diversified as their economy develops, until a tipping point, where richer countries start finding it harder to diversify further their tax revenue sources.
The Impact of Conflict and Political Instability on Banking Crises in Developing Countries
While there is an extensive literature examining the economic impact of conflict and political instability, surprisingly there have been few studies on their impact on the probability of banking crises. This paper therefore investigates whether rising conflict and political instability globally over the past several decades led to increased occurrence of banking crises in developing countries. The paper provides strong evidence that conflicts and political instability are indeed associated with higher probability of systemic banking crises. Unsurprisingly, the duration of a conflict is positively associated with rising probability of a banking crisis. Interestingly, the paper also finds that conflicts and political instability in one country can have negative spillover effects on neighboring countries’ banking systems. The paper provides evidence that the primary channel of transmission is the occurrence of fiscal crises following a conflict or political instability.
Bottlenecks, risks and stresses in the cotton supply chain in Burkina Faso
Cotton plays an important role in the economy of Burkina Faso, accounting for about 4 percent of GDP and 14 percent of export earnings. The COVID 19 pandemic had a strong impact on international cotton supply chains, with confinement measures affecting sales of textiles and apparel as well as international logistics, which in turn affected cotton markets and disturbed trade and international prices. In addition, national cotton supply chains are vulnerable to other shocks and stresses such as droughts, pests, storms, and irregular weather patterns resulting from climate change. This study aimed to identify major bottlenecks, risks and stresses affecting the cotton supply chain in Burkina Fas...
Topical Issues in International Development and Economics
This book offers various insights on current hot topics in development economics. The authors address the questions of gender effects, leapfrogging, the factors determining the production frontiers of countries, and the respective roles of financial, monetary and fiscal policies in fostering the development of countries. They also question one of the strategies utilized by policy makers in poor countries: development through trade and financial globalization. They ask whether education has really been a factor in development, and look at the role of those who return to the country after studying abroad. This book is the result of a collaboration between researchers from Asia, Africa and Europe. It will be useful to economists and non-economists working in academia (including postgraduate students), as well as professionals working in development institutions and public institutions responsible for strategic planning in developing and emerging countries.
Beyond the Law's Reach?
Beyond the Law's Reach? argues that fundamental assumptions in contemporary political philosophy need to be rethought in the face of pervasive political violence. At an applied level, Nili develops this claim by delving into a series of specific controversies, all revolving around affluent democracies' policy responses to the threat of pervasive violence abroad. Examples include the ethics of giving refuge to beleaguered autocrats to avert civil war in their country, the ethics of prosecuting foreign officials who have colluded with drug cartels, and the admission of oligarchs who acquired their riches by distorting their country's rule of law. At a more theoretical level, the book shows tha...
Historical Dictionary of Burkina Faso
Burkina Faso, known as Upper Volta until its independence from France in 1960, and locally called the “land of the upright people,” is a medium-sized land-locked country with no less than six neighbors, some of which periodically get into trouble… which makes it reasonably strategic in some ways. While it has not done as poorly as some other African states, its economic has certainly not prospered and many Burkinabe go abroad to earn a living. As for politics, it is another case of stability without democracy, even if there are periodic elections. Still, this is better than not even having stability. This third edition of Historical Dictionary of Burkina Faso covers its history through a chronology, an introductory essay, maps, appendixes, and an extensive bibliography. The dictionary section has over 1000 cross-referenced entries on important personalities, politics, economy, foreign relations, religion, and culture. This book is an excellent access point for students, researchers, and anyone wanting to know more about Burkina Faso.
