Fiscal Policies and Institutions for Shared Growth in Kenya : Lessons from the Global Crisis

This report brings together three budget notes that assess Kenya's fiscal capacity to respond to global crisis and deliver shared growth without compromising macroeconomic stability. The report is organized into three notes. The key messages from this analysis point to areas where Kenya's fiscal policy requires strengthening. The first note is an assessment of Kenya's fiscal stance and suggests an appropriate fiscal anchor for Kenya. The second note reviews the status of public investment in Kenya and suggests the reforms required to improve public investment planning and implementation. The subject of the third note is pro-poor spending and targeted subsidy programs. This study concludes that the targeted cash transfers, unemployment benefits, and workfare programs provide automatic stabilizers for fiscal policy during crisis.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2010-04
Subjects:	ACCESS TO SAFE WATER, AGGREGATE BUDGET, AGRICULTURE, ANNUAL COMMITMENTS, ANNUAL CYCLE, ARIMA, BALANCE OF PAYMENTS, BENEFICIARIES, BINDING CONSTRAINT, BUDGET BALANCE, BUDGET CYCLE, BUDGET DEFICIT, BUDGET MANAGEMENT, BUDGET MANAGERS, BUDGET OUTLOOK, BUDGET PERFORMANCE, BUDGET POLICY, BUDGET PROCESS, BUDGET REVIEW, BUDGET STRATEGY, BUDGET SUBMISSIONS, BUDGET SURPLUS, BUDGET SURPLUSES, BUDGET SYSTEMS, BUSINESS CYCLE, CAPITAL FLOWS, CAPITAL GRANTS, CAPITAL INVESTMENT, CAPITAL INVESTMENTS, CAPITAL SHARE, CAPITAL SPENDING, CAPITAL STOCK, CAPITAL STOCKS, CASH TRANSFER, CASH TRANSFERS, CENTRAL BANK, CENTRAL GOVERNMENT, CENTRAL GOVERNMENT EXPENDITURE, CENTRAL GOVERNMENT SPENDING, CONSUMER PRICE INDEX, CORPORATE INCOME TAX, COST OF CAPITAL, COST RECOVERY, COUNTRY RISK, CREDIT CRUNCH, CURRENCY, DATA ANALYSIS, DEBT, DEBT STOCK, DEVELOPING COUNTRIES, DEVELOPMENT AGENCY, DEVELOPMENT BANK, DEVELOPMENT PROJECTS, DISBURSEMENT, DISBURSEMENTS, DONOR ASSISTANCE, DONOR FINANCING, DONOR FUNDS, ECONOMIC GROWTH, ECONOMIC GROWTH RATES, ECONOMIC PERFORMANCE, ELECTRICITY, EMERGING MARKET, EMERGING MARKET ECONOMIES, EQUIPMENT, EQUITY INVESTMENTS, EXCHANGE RATE, EXOGENOUS SHOCKS, EXPENDITURE, EXPENDITURE ANALYSIS, EXPENDITURE LEVELS, EXPENDITURES, EXPORTS, EXTERNAL BORROWING, EXTERNAL FUNDING, EXTERNAL SHOCKS, FEDERAL FUNDS, FINANCE MINISTRY, FINANCIAL ASSETS, FINANCIAL CRISIS, FISCAL ACCOUNTS, FISCAL ADJUSTMENT, FISCAL AGGREGATES, FISCAL BALANCE, FISCAL CAPACITY, FISCAL DATA, FISCAL DEFICITS, FISCAL MANAGEMENT, FISCAL OUTCOMES, FISCAL POLICIES, FISCAL POLICY, FISCAL RETRENCHMENT, FISCAL STANCE, FISCAL SUSTAINABILITY, FISCAL YEARS, FOREIGN EXCHANGE, FOREIGN INTEREST, FORMAL ANALYSIS, GDP, GDP DEFLATOR, GENDER, GLOBAL MARKET, GOVERNMENT EXPENDITURE, GOVERNMENT FINANCE, GOVERNMENT SPENDING, GROWTH THEORY, HEALTH SECTOR, HOUSEHOLDS, HUMAN CAPITAL, HUMAN RESOURCE, IMPORT DUTY, INCOME, INCOME TAX, INDEBTEDNESS, INDIRECT COSTS, INEQUALITY, INFRASTRUCTURE DEVELOPMENT, INFRASTRUCTURE FINANCING, INFRASTRUCTURE INVESTMENT, INFRASTRUCTURE INVESTMENTS, INFRASTRUCTURE SECTOR, INFRASTRUCTURE SERVICES, INTEREST PAYMENTS, INTEREST RATE, INTEREST RATES, INVESTMENT BUDGET, INVESTMENT CLIMATE, INVESTMENT PLANS, INVESTMENT PROJECTS, INVESTMENT SPENDING, LOAN, LOAN GUARANTEES, MACROECONOMIC FRAMEWORK, MACROECONOMIC INSTABILITY, MACROECONOMIC STABILITY, MARKET ECONOMY, MEDIUM TERM EXPENDITURE, MEDIUM TERM EXPENDITURE FRAMEWORK, MEDIUM-TERM PLAN, MIDDLE INCOME COUNTRIES, MINISTRY OF FINANCE, MONETARY FUND, MONETARY POLICY, MONETARY SHOCKS, NET LENDING, OIL PRICE, OUTCOME INDICATORS, PENSION, PENSIONS, POLICY CREDIBILITY, POLICY RESPONSES, PRIVATE CAPITAL, PRIVATE INVESTMENT, PRIVATE INVESTMENTS, PRIVATE SECTOR, PROGRAMS, PUBLIC, PUBLIC ASSETS, PUBLIC BORROWING, PUBLIC BUDGET, PUBLIC DEBT, PUBLIC ENTERPRISES, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE REVIEW, PUBLIC FINANCE, PUBLIC GOODS, PUBLIC HEALTH, PUBLIC INVESTMENT, PUBLIC INVESTMENT IN INFRASTRUCTURE, PUBLIC INVESTMENT PROGRAM, PUBLIC INVESTMENT SPENDING, PUBLIC INVESTMENTS, PUBLIC MONEY, PUBLIC SECTOR, PUBLIC SECTOR DEBT, PUBLIC SECTOR SPENDING, PUBLIC SPENDING, PUBLIC- PRIVATE PARTNERSHIPS, QUALITY OF LIFE, RATES OF RETURN, REAL EXCHANGE RATE, REAL GDP, REAL INTEREST, REAL INTEREST RATE, REAL INTEREST RATES, RECESSIONS, RECURRENT EXPENDITURE, RECURRENT EXPENDITURES, RETURN, ROAD NETWORK, ROADS, SAFETY NET, SAFETY NETS, SECTORAL BUDGETS, SERVICE DELIVERY, SOCIAL DEVELOPMENT, SOCIAL PROGRAMS, SOCIAL SAFETY NETS, SOCIAL SERVICES, SOLVENCY, SPOT PRICE, STOCKS, TAX, TAX CODE, TAX RATE, TAX REVENUE, TAX REVENUES, TOTAL DEBT, TOTAL EXPENDITURE, TOTAL EXPENDITURES, TOTAL REVENUE, TOTAL SPENDING, TRADE BALANCE, TROUGH, UNCERTAINTY, UNEMPLOYMENT, VALUE ADDED, VULNERABLE CHILDREN, VULNERABLE GROUPS, WAGES, WORLD FINANCIAL MARKET,
Online Access:	http://documents.worldbank.org/curated/en/2010/04/16350057/kenya-fiscal-policies-institutions-shared-growth-kenya-lessons-global-crisis https://hdl.handle.net/10986/12980
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