Annual World Bank Conference on Development Economics, Part by World Bank PDF

By World Bank

ISBN-10: 0821332805

ISBN-13: 9780821332801

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Tanzi recommends that local governments be allowed to levy taxes to finance some of their activities. But it is difficult to assign taxes that will cover a large portion of local government spending. As a result, sharing arrangements have developed. These arrangements often make local governments dependent on the central government, undermining the purpose of decentralization to some extent and constraining the central government's ability to collect taxes. He notes that local governments are often in need of resources beyond those that they receive from the central government and those they raise themselves.

Because for every peso that circulates there must be a dollar waiting at the central bank, the foreign currencies at the central bank are not ''reserves'' in that they cannot be freely used by the bank. For instance, they cannot be used to cancel foreign debt. The truth is that the reserves are the property of the peso holders. Therefore, when central bank statistics show that reserves are decreasing, they are only showing that people prefer currencies other than the peso for their transactions.

The seventh conference addresses four themes: revisiting Redistribution with Growth (Chenery and others 1974), demographic change and development, aid and development, and fiscal decentralization. The 1995 conference continues the tradition of holding a roundtable discussion related to the subject of the next World Development Report (World Bank forthcoming), in this case on second-generation issues in transition economies. In his opening remarks Gautam S. Kaji, a managing director of the World Bank, notes that the conference has evolved over the years to become the single largest gathering of the development economics community in the world.

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Annual World Bank Conference on Development Economics, Part 489 by World Bank


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