Jamaica : Poverty and Social Impacts of Fiscal Reforms
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Washington, DC
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This Poverty and Social Impact Analysis
(PSIA) explores the distributional effects of a package of
fiscal reforms initiated by the Government of Jamaica and
supported by the World Bank under the programmatic fiscal
sustainability Development Policy Loan (DPL) series. The DPL
series supports improved budget and debt management in order
to reduce the debt overhang and create additional fiscal
space for productive public spending, including social
expenditures. The PSIA discusses the poverty and
distributional impacts of the prior actions supported under
the DPL, with a particular focus on two reform actions
likely to have the most significant impacts: (1) tax reform
and (2) public sector reform, focusing on rationalization of
public bodies. The report offers both quantitative and
qualitative assessments of the potential poverty and
distributional effects of these policy changes. The report
is structured as follows: section two analyzes the expected
impact of changes in tax policy; section three investigates
the potential impacts of public bodies'
rationalization, and section four offers some caveats and
concluding remarks. Each section begins with a discussion of
the reform background as well as the major supporters and
opponents of the reform. The analysis in each section is
presented with the least possible amount of technical
details in order to maximize the appeal to a broader
audience. For the interested reader, the methodological
details of the empirical approaches employed in this report
are contained in the annexes.
Palabras clave
ACCESS TO TRAINING, ACCOUNTING, ADVERSE EFFECTS, AGRICULTURAL SECTOR, AIR, AIR TRANSPORT, ALCOHOLIC BEVERAGES, BALANCE OF PAYMENTS, BANKING SYSTEM, BENEFICIARIES, BENEFICIARY, CAPITAL ACCOUNT, CAPITAL ACCUMULATION, CAPITAL FLIGHT, CAPITAL STOCK, CASH TRANSFER, CASH TRANSFERS, CENTRAL BANK, CONSUMER PRICE INDEX, CONSUMPTION TAX, CONSUMPTION TAXES, COPYRIGHT CLEARANCE, COPYRIGHT CLEARANCE CENTER, CORPORATE INCOME TAX, COUPON, COUPON PAYMENTS, CREDIT ACCESS, CURRENCY, CURRENT ACCOUNT, CURRENT ACCOUNT BALANCE, DEBT, DEBT ACCUMULATION, DEBT BURDEN, DEBT EXCHANGE, DEBT MANAGEMENT, DEBT OVERHANG, DEBT RATIOS, DEBT SERVICING, DEBT SERVICING COSTS, DEBT STOCKS, DEVELOPMENT BANK, DIESEL, DISTRIBUTION OF INCOME, DIVESTMENT, DIVESTMENTS, DIVIDEND, DIVIDENDS, DOMESTIC BOND, DOMESTIC BOND MARKET, DOMESTIC DEBT, EARNINGS, ECONOMIC CRISIS, ECONOMIC GROWTH, EDUCATION LEVELS, ELASTICITIES, EMPLOYER, EMPLOYMENT STATUS, EXCISE TAX, EXCISE TAX ON GASOLINE, EXPENDITURE, EXPENDITURES, EXTERNAL SHOCKS, EXTREME POVERTY, FACTORS OF PRODUCTION, FARMERS, FINANCIAL CRISES, FINANCIAL MANAGEMENT, FISCAL CONSOLIDATION, FISCAL DISCIPLINE, FISCAL REFORMS, FOREIGN DEBT, FOREIGN FINANCING, FOREIGN INVESTMENT, FUEL, FUEL COSTS, FUEL PRICE, FUEL PRICE INCREASES, FUEL PRICES, FUEL TAX, FUEL TAX CHANGES, FUEL TAX INCREASE, FUEL TAX REFORM, FUEL TAXES, FUNGIBLE, GASOLINE CONSUMPTION, GENDER, GOVERNMENT BONDS, GOVERNMENT SPENDING, GROSS DOMESTIC PRODUCT, GROSS NATIONAL PRODUCT, HOLDINGS, HOUSEHOLD INCOME, HOUSEHOLD WELFARE, HOUSEHOLDS, HUMAN CAPITAL, INCOME FROM BONDS, INCOME TAX, INCOME TAX DEDUCTIONS, INCOME TAXES, INCOMES, INDIRECT TAXATION, INEQUALITY, INFLATION, INSTRUMENT, INSURANCE, INTEREST INCOME, INTEREST PAYMENTS, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, INTERNATIONAL LABOUR ORGANIZATION, INTERNATIONAL MARKETS, INVESTMENT BANK, JOB SECURITY, LABOR FORCE PARTICIPATION, LABOR FORCE SURVEY, LABOR FORCE SURVEYS, LABOR MARKET, LABOR MARKETS, LABOUR FORCE, LABOUR MARKET, LACK OF INFORMATION, LIMITED ACCESS, LOAN, MONETARY FUND, NATIONAL INVESTMENT, NEGATIVE SHOCK, NEGATIVE SHOCKS, NEIGHBORHOODS, OUTPUT, OUTPUT RATIO, PERSONAL INCOME, PERSONAL INCOME TAX, PETROLEUM PRODUCTS, POLITICAL ECONOMY, PRICE CHANGE, PRICE CHANGES, PRICE OF FUEL, PRIVATE INVESTMENT, PRIVATIZATION, PROPERTY TAX, PUBLIC BORROWING, PUBLIC DEBT, PUBLIC FINANCE, PUBLIC POLICY, PUBLIC SPENDING, PUBLIC UTILITIES, RATE OF GROWTH, RATE OF RETURN, REAL EXCHANGE RATE, RECEIPTS, RECURRENT EXPENDITURE, REGIME CHANGE, REMITTANCES, RETURN, RETURNS, ROAD, SAFETY, SAFETY NET, SAFETY NETS, SAVINGS, SKILLED WORKERS, SMALL FARMERS, SOURCE OF INCOME, SOURCES OF INCOME, STAMP DUTY, TAX, TAX BASE, TAX BRACKETS, TAX BURDEN, TAX CODE, TAX COLLECTION, TAX DEDUCTIONS, TAX EXEMPTIONS, TAX INCENTIVES, TAX INCIDENCE, TAX POLICY, TAX PREFERENCES, TAX RATE, TAX RATES, TAX REFORMS, TAX REGIME, TAX REVENUES, TAX STRUCTURE, TAX SYSTEM, TECHNICAL ASSISTANCE, TELEPHONE SERVICES, TRADE UNIONS, TRANSFER TAX, TRANSIT, TRANSPORT, TRANSPORTATION, TRANSPORTATION COSTS, TRUE, UNEMPLOYMENT, UNION, USER FEES, VALUE ADDED TAXES, VEHICLES, VULNERABLE GROUPS, VULNERABLE HOUSEHOLDS, WITHHOLDING TAX