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Fiscal policy for growth and development in Tajikistan

Author

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  • Brownbridge, Martin
  • Canagarajah, Sudharshan
Abstract
Tajikistan's economy has recovered strongly after the collapse of the 1990s, but sustaining rapid economic growth over the long term and reducing poverty present major challenges for policymakers. This paper contributes to the debate over the strategic role for fiscal policy to play in meeting these challenges, utilizing the"fiscal space"approach to assess the long-term potential for expanding public provision of growth-promoting goods and services and evaluating the priorities for public spending. It also analyzes the long-term risks to fiscal sustainability, from external public debt and the quasi fiscal deficit of the electricity sector. The paper contends that institutional reforms in key areas, notably public financial management, tax administration, and the energy sector, are crucial for generating fiscal space and for ensuring that higher levels of public spending are translated into stronger economic growth and poverty reduction. The priorities for government spending should be education, health, and the maintenance of the core networks of the existing infrastructure for energy and transport, rather than new public investment projects.

Suggested Citation

  • Brownbridge, Martin & Canagarajah, Sudharshan, 2008. "Fiscal policy for growth and development in Tajikistan," Policy Research Working Paper Series 4532, The World Bank.
    • Handle: RePEc:wbk:wbrwps:4532
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    References listed on IDEAS

    as
    1. International Monetary Fund, 2000. "The Great Contractions in Russia, the Baltics and the Other Countries of the Former Soviet Union: A View From the Supply Side," IMF Working Papers 2000/032, International Monetary Fund.
    2. World Bank, 2007. "Tajikistan : Programmatic Public Expenditure Review," World Bank Publications - Reports 7849, The World Bank Group.
    3. Herrera, Santiago & Pang, Gaobo, 2005. "Efficiency of public spending in developing countries : an efficiency frontier approach," Policy Research Working Paper Series 3645, The World Bank.
    4. Alex Segura-Ubiergo & Alejandro Simone & Sanjeev Gupta & Qiang Cui, 2010. "New Evidence on Fiscal Adjustment and Growth in Transition Economies," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 52(1), pages 18-37, March.
    5. Cheryl Gray & Tracey Lane & Aristomene Varoudakis, 2007. "Fiscal Policy and Economic Growth : Lessons for Eastern Europe and Central Asia," World Bank Publications - Books, The World Bank Group, number 6883.
    6. Mr. Tapio Saavalainen & Joy Mylène ten Berge, 2006. "Quasi-Fiscal Deficits and Energy Conditionality in Selected CIS Countries," IMF Working Papers 2006/043, International Monetary Fund.
    7. Easterly, William & Fischer, Stanley & DEC, 1994. "The Soviet economic decline : historical and republican data," Policy Research Working Paper Series 1284, The World Bank.
    8. Mr. Sanjeev Gupta & Mr. Alejandro Simone & Mr. Alex Segura-Ubiergo, 2006. "New Evidence on Fiscal Adjustment and Growth in Transition Economies," IMF Working Papers 2006/244, International Monetary Fund.
    9. Estache, Antonio & Gonzalez, Marianela & Trujillo,Lourdes, 2007. "Government expenditures on education, health, and infrastructure : a naive look at levels, outcomes, and efficiency," Policy Research Working Paper Series 4219, The World Bank.
    10. Mr. Henri Lorie, 2003. "Priorities for Further Fiscal Reforms in the Commonwealth of Independent States," IMF Working Papers 2003/209, International Monetary Fund.
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    Cited by:

    1. World Bank, 2011. "Republic of Tajikistan - Country Economic Memorandum : Tajikistan’s Quest for Growth: Stimulating Private Investment," World Bank Publications - Reports 2761, The World Bank Group.

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    Keywords

    Public Sector Expenditure Analysis&Management; Debt Markets; Banks&Banking Reform; Access to Finance;
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