Introduction: Fiscal Dimensions of Sustainable Development
Introduction: Fiscal Dimensions of Sustainable Development
sustainable development. Sustainable development has three pillars—
economic development, social development, and environmental protection.
1 It entails “. . . balancing the economic, social, and environmental
objectives of society . . . integrating them wherever possible through mutually
supportive policies and practices and making trade-offs where (this)
is not possible. This includes, in particular, taking into account the impact
of present decisions on the options of future generations.”2 In September
2000, the member states of the United Nations underscored the importance
of sustainable development by re-affirming the Millennium Development
Goals (MDGs), a set of time-bound targets for improving human
development along several important dimensions.3
Fiscal policy—the range of the government’s taxing and spending decisions—
has important effects on all aspects of sustainable development:
economic, social, and environmental. Fiscal policy affects sustainable development
through its effects on growth, the environment, and human resource
development. These effects operate at both a macroeconomic level
and through the myriad ways in which governments’ tax and spending decisions
affect incentives to work, spend, save, and invest.
Fiscal policy is central to the work of the IMF. The IMF’s mandate is to
promote international monetary cooperation, the balanced growth of international
trade, foreign exchange rate stability, and orderly foreign exchange arrangements among countries. Fulfilling this mandate is the
IMF’s primary contribution to sustainable development. Within this general
setting, fiscal policy plays a key role in all three main aspects of the
IMF’s work: IMF-supported programs, surveillance, and technical assistance.
In IMF-supported programs in countries facing balance of payments
crises, the IMF often finds that reestablishing the credibility of the
government’s fiscal position is key to restoring sustainable growth. In its
support to low-income countries, the strengthening and reorientation of
tax and spending structures often has a central role. In its surveillance
work, the IMF often focuses on the sustainability of the fiscal position as
a key to preventing crises. Indeed, it is the prevention of crises—the burden
of which often falls on the poor—that the IMF sees as one of its major
contributions to sustainable development. In its technical assistance work,
the IMF responds to countries’ requests for expert advice in improving
their tax and spending systems.
This paper explores the relationships between fiscal policy and sustainable
development and how the IMF seeks to promote sustainable development
in its fiscal policy advice. The paper also discusses lessons learned
thus far and how governments, the international community, and international
financial institutions (IFIs) can more fully support sustainable
development.
Fiscal Dimensions of Sustainable Development
Prepared for
World Summit on Sustainable Development
Johannesburg, August 26–September 4, 2002
Introduction Fiscal Dimensions of Sustainable Development - To learn more about this author, visit International Monetary Fund's Website.
Like this article? Share it with your friends
One of the challenges facing the international community is to achieve
sustainable development. Sustainable development has three pillars—
economic development, social development, and environmental protection.
1 It entails “. . . balancing the economic, social, and environmental
objectives of society . . . integrating them wherever possible through mutually
supportive policies and practices and making trade-offs where (this)
is not possible. This includes, in particular, taking into account the impact
of present decisions on the options of future generations.”2 In September
2000, the member states of the United Nations underscored the importance
of sustainable development by re-affirming the Millennium Development
Goals (MDGs), a set of time-bound targets for improving human
development along several important dimensions.3
Fiscal policy—the range of the government’s taxing and spending decisions—
has important effects on all aspects of sustainable development:
economic, social, and environmental. Fiscal policy affects sustainable development
through its effects on growth, the environment, and human resource
development. These effects operate at both a macroeconomic level
and through the myriad ways in which governments’ tax and spending decisions
affect incentives to work, spend, save, and invest.
Fiscal policy is central to the work of the IMF. The IMF’s mandate is to
promote international monetary cooperation, the balanced growth of international
trade, foreign exchange rate stability, and orderly foreign exchange arrangements among countries. Fulfilling this mandate is the
IMF’s primary contribution to sustainable development. Within this general
setting, fiscal policy plays a key role in all three main aspects of the
IMF’s work: IMF-supported programs, surveillance, and technical assistance.
In IMF-supported programs in countries facing balance of payments
crises, the IMF often finds that reestablishing the credibility of the
government’s fiscal position is key to restoring sustainable growth. In its
support to low-income countries, the strengthening and reorientation of
tax and spending structures often has a central role. In its surveillance
work, the IMF often focuses on the sustainability of the fiscal position as
a key to preventing crises. Indeed, it is the prevention of crises—the burden
of which often falls on the poor—that the IMF sees as one of its major
contributions to sustainable development. In its technical assistance work,
the IMF responds to countries’ requests for expert advice in improving
their tax and spending systems.
This paper explores the relationships between fiscal policy and sustainable
development and how the IMF seeks to promote sustainable development
in its fiscal policy advice. The paper also discusses lessons learned
thus far and how governments, the international community, and international
financial institutions (IFIs) can more fully support sustainable
development.
Fiscal Dimensions of Sustainable Development
Prepared for
World Summit on Sustainable Development
Johannesburg, August 26–September 4, 2002
Introduction Fiscal Dimensions of Sustainable Development - To learn more about this author, visit International Monetary Fund's Website.
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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