Email: sgupta@imf.org

Education:

Ph.D in Economics, Simon Fraser University, 1980

M.A. in Economics, Oxford University, 1979

M.A. in Economics, University of New Brunswick, 1977

B.A. (Honors) in Economics and Politics, Balliol College, Oxford University, 1974

B.A. (Honors) in Economics, St. Stephens College, Delhi University, 1972

Previous Experience:

Deputy Director, Fiscal Affairs Department, International Monetary, 2009 - Present

Senior Advisor, Fiscal Affairs Department, International Monetary Fund, 2007 – 2009

Assistant Director, African Department, International Monetary Fund, 2004 – 2007

Assistant Director and Division Chief, Fiscal Affairs Department, International Monetary Fund, 1996 – 2004

Deputy Division Chief, Fiscal Affairs Department, International Monetary Fund, 1993 - 1995

Economist/Senior Economist, Fiscal Affairs Department, International Monetary Fund, 1988 - 1993

Economist, European Department, International Monetary Fund, 1986 - 1988

Secretary, Federation of Indian Chamber of Commerce and Industries, 1983 – 1986

Secretary, Economic and Science Research Foundation, India, 1983 – 1986

Senior Faculty, Admin. Staff College of India, 1982 – 1983

Fellow, Kiel Institute of World Economics, 1980 -1982

Lecturer, Panjab University, 1974 – 1976

Email: sgupta@imf.org

Education:

Ph.D in Economics, Simon Fraser University, 1980

M.A. in Economics, Oxford University, 1979

M.A. in Economics, University of New Brunswick, 1977

B.A. (Honors) in Economics and Politics, Balliol College, Oxford University, 1974

B.A. (Honors) in Economics, St. Stephens College, Delhi University, 1972

Previous Experience:

Deputy Director, Fiscal Affairs Department, International Monetary, 2009 - Present

Senior Advisor, Fiscal Affairs Department, International Monetary Fund, 2007 – 2009

Assistant Director, African Department, International Monetary Fund, 2004 – 2007

Assistant Director and Division Chief, Fiscal Affairs Department, International Monetary Fund, 1996 – 2004

Deputy Division Chief, Fiscal Affairs Department, International Monetary Fund, 1993 - 1995

Economist/Senior Economist, Fiscal Affairs Department, International Monetary Fund, 1988 - 1993

Economist, European Department, International Monetary Fund, 1986 - 1988

Secretary, Federation of Indian Chamber of Commerce and Industries, 1983 – 1986

Secretary, Economic and Science Research Foundation, India, 1983 – 1986

Senior Faculty, Admin. Staff College of India, 1982 – 1983

Fellow, Kiel Institute of World Economics, 1980 -1982

Lecturer, Panjab University, 1974 – 1976

IMF Books and Working Papers:

Is Military Spending Converging Across Countries? An Examination of Trends and Key Determinants, Working Paper No.19/196, September 20, 2019

Expenditure Conditionality in IMF-supported Programs, Working Paper No. 18/255, December 07, 2018

An Application of Distribution-Neutral Fiscal Policy, Working Paper No. 18/12, January 24, 2018

Corruption, Taxes and Compliance, Working Paper No. 17/255, November 17, 2017

Fiscal Politics, April 07, 2017

The Fiscal Consequences of Shrinking Populations, Staff Discussion Notes No. 15/21, October 26, 2015

Now or Later? The Political Economy of Public Investment in Democracies, Working Paper No. 15/175, July 27, 2015

The Quest for the Holy Grail : Efficient and Equitable Fiscal Consolidation in India, Working Paper No. 15/152, July 13, 2015

Does conditionality in IMF-supported programs promote revenue reform?, Working Paper No. 14/206, November 19, 2014

Budget Institutions in Low-Income Countries: Lessons from G-20, Working Paper No. 14/164, September 11, 2014

Direct Distribution of Resource Revenues : Worth Considering?, Staff Discussion Notes No. 14/5, June 10, 2014

Direct Distribution of Resource Revenues : Worth Considering?, Staff Discussion Notes No. 14/5, June 10, 2014

Equitable and Sustainable Pensions : Challenges and Experience, March 08, 2014

Resource Blessing, Revenue Curse? Domestic Revenue Effort in Resource-Rich Countries, Working Paper No. 14/5, January 14, 2014

Debt Reduction, Fiscal Adjustment, and Growth in Credit-Constrained Economies, Working Paper No. 13/238, November 22, 2013

Energy Subsidy Reform : Lessons and Implications, September 13, 2013

The Challenge of Public Pension Reform in Advanced and Emerging Economies, Occasional Paper No. 275, January 25, 2013

Income Inequality and Fiscal Policy (2nd Edition), Staff Discussion Notes No. 12/8R, September 27, 2012

Foreign Aid and Revenue : Still a Crowding Out Effect?, Working Paper No. 12/186, July 01, 2012

Income Inequality and Fiscal Policy, Staff Discussion Notes No. 12/8, June 28, 2012

The Economics of Public Health Care Reform in Advanced and Emerging Economies, June 01, 2012

Efficiency-Adjusted Public Capital and Growth, Working Paper No. 11/217, September 01, 2011

What Happens to Social Spending in IMF-Supported Programs?, Staff Discussion Notes No. 11/15, August 31, 2011

Restoring Debt Sustainability After Crises: Implications for the Fiscal Mix, Working Paper No. 10/232, October 01, 2010

Is Social Spending Procyclical?, Working Paper No. 10/234, October 01, 2010

Evaluating Government Employment and Compensation, Technical Notes and Manuals No. 2010/15, September 20, 2010

Public Capital and Growth, Working Paper No. 10/175, July 01, 2010

How Effective is Fiscal Policy Response in Systemic Banking Crises?, Working Paper No. 09/160, July 01, 2009

Is it (Still) Mostly Fiscal? Determinants of Sovereign Spreads in Emerging Markets, Working Paper No. 08/259, November 01, 2008

Natural Resource Endowments, Governance, and the Domestic RevenueEffort: Evidence from a Panel of Countries, Working Paper No. 08/170, July 01, 2008

Fiscal Management of Scaled-Up Aid, April 22, 2008

Sub-Saharan Africa: Forging New Trade Links with Asia, October 16, 2007

Fiscal Management of Scaled-Up Aid, Working Paper No. 07/222, September 01, 2007

Impact of Remittances on Poverty and Financial Development in Sub-Saharan Africa, Working Paper No. 07/38, February 01, 2007

New Evidence on Fiscal Adjustment and Growth in Transition Economies, Working Paper No. 06/244, October 01, 2006

Macroeconomic Challenges of Scaling Up Aid to Africa, March 20, 2006

Sustaining and Accelerating Pro-Poor Growth in Africa, February 28, 2006

Are Donor Countries Giving More or Less Aid?, Working Paper No. 06/1, January 01, 2006

Rebuilding Fiscal Institutions in Postconflict Countries, Occasional Paper No. 247, December 27, 2005

Sustaining Growth Accelerations and Pro-Poor Growth in Africa, Working Paper No. 05/195, October 01, 2005

Regional Trade Arrangements in Africa, September 20, 2005

The Macroeconomic Challenges of Scaling Up Aid to Africa, Working Paper No. 05/179, September 01, 2005

Regional Trade Arrangements in Africa: Past Performance and the Way Forward, Working Paper No. 05/36, February 01, 2005

Social Spending, Human Capital, and Growth in Developing Countries: Implications for Achieving the MDGs, Working Paper No. 04/217, November 01, 2004

The Cyclical and Long-Term Behavior of Government Expenditures in Developing Countries, Working Paper No. 04/202, October 01, 2004

Helping Countries Develop: The Role of Fiscal Policy, September 17, 2004

Front-Loaded or Back-Loaded Fiscal Adjustments: What Works in Emerging Market Economies?, Working Paper No. 04/157, August 01, 2004

What Sustains Fiscal Consolidations in Emerging Market Countries?, Working Paper No. 03/224, November 01, 2003

Real and Distributive Effects of Petroleum Price Liberalization: The Case of Indonesia, Working Paper No. 03/204, October 01, 2003

Foreign Aid and Revenue Response: Does the Composition of Aid Matter?, Working Paper No. 03/176, September 01, 2003

Foreign Aid and Consumption Smoothing: Evidence from Global Food Aid, Working Paper No. 03/40, February 01, 2003

Is the PRGF Living Up to Expectations?, Occasional Paper No. 216, September 26, 2002

Governance, Corruption, and Economic Performance, September 24, 2002

Fiscal Dimensions of Sustainable Development, Pamphlet Series, No. 54, August 12, 2002

Issues in Domestic Petroleum Pricing in Oil-Producing Countries, Working Paper No. 02/140, August 01, 2002

Fiscal Consequences of Armed Conflict and Terrorism in Low- and Middle-Income Countries, Working Paper No. 02/142, August 01, 2002

Expenditure Composition, Fiscal Adjustment, and Growth in Low-Income Countries, Working Paper No. 02/77, April 01, 2002

Challenges in Expanding Development Assistance, Policy Discussion Paper No. 02/5, March 01, 2002

Public Spending on Health Care and Poor, Working Paper No. 01/127, September 01, 2001

Transition Economies: How Appropriate is the Size and Scope of Government?, Working Paper No. 01/55, May 01, 2001

Equity and Efficiency in the Reform of Price Subsidies: A Guide for Policymakers, December 06, 2000

Corruption and the Provision of Health Care and Education Services, Working Paper No. 00/116, June 01, 2000

Income Distribution and Tax and Government Social Spending Policies in Developing Countries, Working Paper No. 00/62, March 01, 2000

Social Issues in IMF-Supported Programs, Occasional Paper No. 191, January 13, 2000

Corruption and Military Spending, Working Paper No. 00/23, January 01, 2000

Economic Policy and Equity, May 04, 1999

Does Higher Government Spending Buy Better Results in Education and Health Care?, Working Paper No. 99/21, February 25, 1999

Should Equity be a Goal of Economic Policy?, Economic Issues No. 16, January 22, 1999

Economic Transition and Social Protection-Issues and Agenda for Reform, Papers on Policy Analysis and Assessment No. 98/14, December 01, 1998

Mitigating the Social Costs of the Economic Crisis and the Reform Programs in Asia, Papers on Policy Analysis and Assessment No. 98/7, June 01, 1998

Does Corruption Affect Income Inequality and Poverty?, Working Paper No. 98/76, May 01, 1998

Social Safety Nets: Issues and Recent Experience, April 15, 1998

Fiscal Reforms in Low-Income Countries, Occasional Paper No. 160, March 31, 1998

The Efficiency of Government Expenditure - Experiences from Africa, Working Paper No. 97/153, November 01, 1997

Worldwide Military Spending, 1990-95, Working Paper No. 96/64, June 01, 1996

Social Protection in Transition Countries: Emerging Issues, Papers on Policy Analysis and Assessment No. 96/5, May 01, 1996

Unproductive Public Expenditures: A Pragmatic Approach to Policy Analysis, Pamphlet Series, No. 48, August 10, 1995

Public Expenditure Policy and the Environment: A Review and Synthesis, Working Paper No. 93/27, March 01, 1993

The Fiscal Dimensions of Adjustment in Low-Income Countries, Occasional Paper No. 95, June 16, 1992

Commodity Booms and Government Expenditure Responses, Working Paper No. 91/44, May 01, 1991

IMF Occasional Papers, Pamphlets, and Special Issues Papers

Fiscal Policy

New Evidence on Fiscal Adjustment and Growth in Transition Economies (with Alex Segura-Ubeirgo, Alejandro Simone)(Forthcoming)(revised Working Paper 06/244, October 1, 2006)

Fiscal Dimensions of Sustainable Development, IMF Pamphlet Series, No. 54, August 2002 (with M. Keen and others).

Equity and Efficiency in the Reform of Price Subsidies: A Guide for Policymakers, December 2000 (with M. Verhoeven and others).

Social Issues in IMF-Supported Programs, IMF Occasional Paper No. 191, January 2000 (with L. Dicks-Mireaux and others).

Unproductive Public Expenditures, A Pragmatic Approach to Policy Analysis, IMF Pamphlet Series, No. 48, August 1995 (with K. Chu and others).

Low-Income Countries

Is the PRGF Living Up to Expectations? An Assessment of Program Design, IMF Occasional Paper No. 216, August 2002 (with M. Plant and others).

IMF and the Poor, IMF Pamphlet Series, No. 52, September 1998 (with B. Clements and others).

Fiscal Reforms in Low-income Countries: Experience under Fund Supported Programs, IMF Occasional Paper No. 160, March 1998 (with G. Abed and others).

Fiscal Dimensions of Adjustment in Low-Income Countries, IMF Occasional Paper No. 95, April 1992 (with K. Nashashibi and others).

Macroeconomic policy, growth and trade in sub-Saharan Africa

Sustaining Growth Accelerations and Pro-Poor Growth in Africa, 2006 (with Cathy Pattillo and Kevin Carey) (revised IMF Working Paper 05/195).

The Common Agricultural Policy of the European Community: Principles and Consequences, IMF Occasional Paper No. 62, November 1988 (with J. Rosenblatt and others).

Finance & Development

"Mobilizing Revenue," September 2008 (with Shamsuddin Tareq)

Making Remittances Work for Africa Vol 44, June 2007 (with Cathy Pattillo and S. Wagh)

Unblocking Trade Vol 43, December 2006 (with Y. Yang).

Growing Pains Vol 43, March 2006 (with Cathy Pattillo and Kevin Carey).

What Does it Take to Help the Poor? Vol 42, June 2005 (with E. Baldacci, B. Clements and Q Cui).

Foreign Aid and Domestic Revenue: Do Grants have a Different Effect than Loans? Vol. 41, September 2004 (with B. Clements, A. Pivovarsky, and E. Tiongson).

Using Fiscal Policy to Spur Growth, Vol. 40, December 2003 (with E. Baldacci and B. Clements).

The Elusive Peace Dividend: How Armed Conflict and Terrorism Undermine Economic Performance, Vol. 39, No. 4, December 2002 (with B. Clements and others).

Is the PRGF Living Up to Expectations?, Vol. 39, No. 2, June 2002 (with M. Plant, T. Dorsey, and B. Clements).

Challenges in Expanding Aid Flows, Vol. 39, No. 2, June 2002 (with Peter S. Heller).

Debt Relief and Public Health Spending in Heavily Indebted Countries, Vol. 38, No. 3, September 2001 (with B. Clements, L. Leruth, and M. T. Guin-Siu).

Progress Toward the International Development Goals, Vol. 37, No.4, December 2000 (with B. Hammond, R. Leete, and E. Swanson).

Public Spending on Human Development, Vol. 35, No. 3, September 1998 (with B. Clements and E. Tiongson).

Mitigating the Social Costs of the Economic Crisis and the Reform Programs in Asia, Vol. 35, No. 3, September 1998 (with C. McDonald and others).

What Happened to the Peace Dividend?, Vol. 34, No. 1, March 1997 (with B. Clements and J. Schiff).

Social Protection During Russia's Economic Transformation, Vol. 31, No. 4, December 1994 (with R. Hagemann).

Is Wide Variation in Petroleum Prices and Tax Rates Warranted? Vol. 31, No. 1, March 1994 (with W. Mahler).

Protecting the Poor: Social Safety Nets During Transition, Vol. 30, No. 2, June 1993 (with K. Chu).

Fiscal Dimensions of Adjustment, Vol. 29, No. 3, September 1992 (with K. Nashashibi).

Poverty Concerns in Fund-Supported Programs, Vol. 27, No. 3, September 1990 (with K. Nashashibi).

The Common Agricultural Policy of the EC, Vol. 26, No. 2, June 1989 (with T. Mayer and L. Lipschitz).

Journal Articles

"Natural Resource Endowments and Domestic Revenue Effort," The European Journal of Political Economy, (with Fabian Bornhorst and John Thornton) (revised IMF Working Paper, WP/08/170)

“Effect of Remittances on Poverty and Financial Development in Sub-Saharan Africa,” World Development, Volume 37, Issue 1, January 2008, pages 104-115 (with Catherine Pattillo and Smita Wagh) (revised IMF Working Paper 07/38), 2008.

"Social Spending, Human Capital, and Growth in Developing Countries," World Development, Volume 36, Issue 8, August 2008, Pages 1317-1341 (with Emanuele Baldacci, Benedict Clements, and Qiang Cui) (revised IMF Working Paper 04/217).

"Regional Trade Agreements in Africa: Past Performance and Way Forward," African Development Review, December 2007 (with Y. Yang). (revised IMF Working Paper 05/36)

"The Effects of Oil Subsidy Reform in Indonesia," The Developing Economies, June 2007 (with Benedicte Clements and Hong-Sang Jung) (revised IMF Working Paper 03/204).

"Public Spending, Voracity, and Wagner's Law in Developing Countries, European Journal of Political Economy," November 2006 (with Bernardin Akitoby, Benedict Clements, and Gabriela Inchauste) (revised IMF Working Paper 04/202.)

"The Phasing of Fiscal Adjustments:What Works in Emerging Market Economies?" Review of Development Economics, November 2006 (with Baldacci, B.Clements, and C. Mulas-Granados) (revised IMF Working Paper 04/157, August 2004).

"Are Donor Countries Giving More or Less Aid?" Review of Development Economics, August 2006, (IMF Working Paper 06/1, January 2006) (with Cathy Patillo and Smita Wagh).

"What Sustains Fiscal Consolidations in Emerging Market Countries?" International Journal of Finance & Economics, Vol 10, October 2005 (with B. Clements, E. Baldacci, and E. Tiongson) (revised IMF Working Paper 03/224, November 2003).

"Fiscal Policy, Expenditure Composition, and Growth in Low-Income Countries," Journal of International Money and Finance (April 2005) (with B. Clements, E. Baldacci, and C. Mulas-Granados) (revised IMF Working Paper 02/77, May 2002).

"Foreign Aid and Consumption Smoothing: Evidence from Global Food Aid," Review of Development Economics (August 2004) (with B. Clements and E. Tiongson) (revised IMF Working Paper 03/40, February 2003).

"Fiscal Consequences of Armed Conflict and Terrorism in Low- and Middle-Income Countries," European Journal of Political Economy, Vol. 20 (June 2004) (with B. Clements and others) (revised IMF Working Paper 02/142, August 2002).

"The Persistence of Fiscal Adjustments in Developing Countries," Applied Economics Letters, 2004, Vol. 11, pp. 209–212 (with B. Clements, E. Baldacci, and Mulas-Granados) (part of IMF Working Paper 02/77, May 2002).

"Transition Economies: How Appropriate is the Size and Scope of Government?" Comparative Economic Studies (December 2003) (with L. de Mello, L. Leruth, and S. Chakravarti) (revised IMF Working Paper 01/55, May 2001).

"Safety Nets and the Implementation of Macroeconomic Adjustment Programs," Economic and Political Weekly, Issue: VOL 38 No. 37 (September 13, 2003) (with B. Clements and G. Inchauste).

"Public Spending on Health Care and the Poor," Health Economics, Wiley, August 2003 (with M. Verhoeven and E. Tiongson) (revised IMF Working Paper 01/127, September 2001).

"More Aid--Making It Work for the Poor," World Economics, London, December 2002 (with P. Heller) (shortened IMF Policy Discussion Paper 02/05, March 2002).

"Decomposing Social Indicators Using Ecological Inference," Applied Economics Letters, Vol. 9, December 2002 (with M. Verhoeven and E. Tiongson) (part of the IMF Working Paper 01/127, September 2001).

"The Effectiveness of Government Spending on Education and Health Care in Developing and Transition Economies," European Journal of Political Economy, North Holland, November 2002 (with M. Verhoeven and E. Tiongson) (revised IMF Working Paper 99/21, February 1999).

"Does Corruption Affect Income Inequality and Poverty? Economics of Governance," Springer, Spring 2002 (with H. Davoodi and R. Alonso-Termé) (revised IMF Working Paper 98/76, May 1998).

"Debt Relief and Public Health Spending in Heavily Indebted Countries," Bulletin of WHO, February 2002 (with B. Clements, M. Guin-Siu, and L. Leruth).

“Privatization, Labor, and Social Safety Nets,” Journal of Economic Surveys, Blackwell, December 2001 (with C. Schiller, H. Ma, and E. Tiongson) (revised IMF Working Paper 99/68, May 1999).

“Corruption and Military Spending,” European Journal of Political Economy, North Holland, November 2001 (with L. de Mello and R. Sharan) (revised IMF Working Paper 00/23, February 2000).

“The Efficiency of Government Expenditure: Experiences from Africa,” Journal of Policy Modeling, North Holland, May 2001 (with M. Verhoeven) (revised IMF Working Paper 97/153, November 1997).

“Economic Transition and Social Protection—Issues and Agenda for Reform,” Reflets & Perspectives de la vie économique, March 1999 (also published as IMF PPAA 98/14, December 1998).

“Worldwide Military Spending, 1990–95,” Defence and Peace Economics, Harwood Academic Publishers, 1998 (with J. Schiff and B. Clements) (IMF Working Paper 96/64, June 1996).

“Social Protection in Transition Economies: Emerging Issues,” Moct-Most, Economic Journal of Eastern Europe and the Former Soviet Union, Kluwer Publishers, September 1996 (with K. Chu) (IMF PPAA 96/5, May 1996).

“Taxation of Petroleum Products: Theory and Empirical Evidence,” Energy Economics, London, Vol. 17, May 1995 (with W. Mahler) (revised IMF Working Paper 94/32, March 1994).

“Public Expenditure Policy and the Environment: Review and Syntheses,” World Development, Vol. 23, No. 3, March 1995 (with K. Miranda and I. Parry) (IMF Working Paper 93/27, February 1993).

“Effects of the Common Agricultural Policy of the European Community: A Survey of the Literature,” Journal of Common Market Studies, December 1988 (with D. Demekas and others).

“Further Evidence on the Impact of Dairy Development Programme,” Economic and Political Weekly, Bombay, March 1987 (with B. Bowonder, B. Das Gupta, and S. Prasad).

“Impact of Dairy Development Programmes,” Food and Nutrition Bulletin, U.S.A., December 1986.

“Energy Use in Rural Areas: A Study of 10 Villages,” Natural Resources Forum, New York, November 1996 (with B. Bowonder, B. Das Gupta, and S. Prasad).

“Compensating Government Employees for Price Increase: Basis, Trends and Forecasts,” Economic and Political Weekly, Bombay, February 1986 (with P.Gupta).

“Effect of Oil Price Increases on Developing Countries—A reply,” Energy Economics, London, Vol. 8, January 1986 (with H. Dick, V. Vincent, and H. Voigt).

“Inflation and Incentive to Invest in Capital Assets,” Economic and Political Weekly, Bombay, May 1985 (with P. Gupta).

“Export Growth and Economic Growth Revisited,” The Indian Economic Journal, January to March 1985.

“Causal Relationship Between Domestic Credit and International Reserves: The Experience of Developing Countries,” Kredit and Kapital, Bonn, June 1984. Also available as Kiel Working Paper, No. 139, Kiel Institute of World Economics, April 1982.

“Unrecorded Trade at Black Exchange Rate: Analysis, Implications, Estimates,” Aussenwirtschaft, St. Gallen, May 1984.

“The Effect of Oil Price Increase on Four Oil-Poor Developing Countries: A Comparative Analysis,” Energy Economics, London, January 1984 (with H. Dick, D. Vincent, and H. Voight). A longer version available in “Comparing the Effects of the Second OPEC Oil Price Shock on Income and Resource Allocation in Four Oil-Poor Developing Economies; Ivory Coast, Kenya, South Korea, Turkey,” Kiel Working Paper, No. 123, Kiel Institute of World Economics, August 1981.

“Who Benefits from the Adjustment Process in Developing Countries? A Test on India, Kenya and Turkey,” Journal of Policy Modeling, U.S.A. No. 1, 1984 (with S. Togan). A longer version available in Recent German Research in International Economics, edited by the Deutsche Forschungsgemeinschaft, Bonn, 1984, W. Germany. Also available as “On Managing Adjustment to External Shocks in Oil Importing Developing Countries,” Kiel Working Paper, No. 149, Kiel Institute of World Economies, August 1982.

“World Demand for Cobalt, An Econometric Study,” Resources Policy, London, December 1983 (with P. Gupta).

“The Short-term Impact of Fluctuating Primary Commodity Prices on Three Developing Countries: Colombia, Ivory Coast and Kenya,” World Development, U.K., May 1983 (with H. Dick, T. Mayer, and D. Vincent). Reprinted in International Commodity Policy, edited by H.W. Singer, N. Hatti, and R. Tandon, Ashish, New Delhi, 1987. Also available as Kiel Working Paper, No. 155, Kiel Institute of World Economics, August 1982.

“India and the Second OPEC Oil Price Shock—An Economy Wide Analysis,” Weltwirtschaftliches Archiv, Tübingen, March 1983.

“Indexation of UNCTAD Core Commodity Prices by Buffer Stocks or Export Quotas: A Comparison of the Benefits for Two Developing Economies,” Journal of Development Economics, Amsterdam, December 1982 (with H. Dick, T. Mayer, and D. Vincent).

“Analyzing the Pricing Efficiency in Spatial Markets: Concept and Application,” European Review of Agricultural Economics, Amsterdam, 1982 (with Rolf Mueller).

“Intertemporal Pricing Efficiency in Agricultural Markets: The Case of Slaughter Hogs in W. Germany,” European Review of Agricultural Economics, Amsterdam, 1982 (with Rolf Mueller).

“Estimates of the Unreported Economy in India,” Economic and Political Weekly, Bombay, January 1982 (with P. Gupta). Reprinted in Unsanctioned Economy, edited by G.S. Monga and G. Sanctis, Himalaya Publishing Company, Bombay, 1984. Also available as Kiel Working Paper, No. 130, Kiel Institute of World Economics, November 1981.

“A Test of the Efficiency of Futures Markets in Commodities,” Weltwirtschaftliches Archiv, Tübingen, December 1981 (with T. Mayer). Also available as Kiel Working Paper, No. 199, Kiel Institute of World Economics, March 1981.

“A Note on the Efficiency of Black Markets in Foreign Currencies,” Journal of Finance, U.S.A., June 1981.

“An Application of Monetary Approach to Black Market Exchange Rates,” Weltwirtschaftliches Archiv, Tübingen, June 1980.

Chapters in books and other publications

"Is it (Still) Mostly Fiscal? Determinants of Sovereign Spreads in Emerging Markets," IMF Working Paper, WP 08/259 (with Emmanuele Baldacci and Amine Mati.

Postconflict Countries: Strategy for Rebuilding Fiscal Institutions (with Shamsuddin Tareq, Benedict Clements, Alex Segura, and Rina Bhatachargya),in Making Peace Work: The Challenges of Social and Economic Reconstruction edited by Tony Addison and Tillman Brueck, Palgrave, 2008.

"Enhancing Effective Utilization of Aid in Fragile States," UNU-WIDER Research Paper No. 2008/07, February 2008.

“Economic Costs of Corruption,” Transparency Watch, December 2007.

“Developing economic stabilisation,” Capacity.Org, Vol 32, December 2007.

“Postconflict Countries: Strategy for Rebuilding Fiscal Institutions,” UNU-WIDER Research Paper No. 2007/41 (with S. Tareq, B. Clements, A. Segura-Ubiergo, and R. Bhattacharya).

“Fiscal Consequences of Armed Conflict and Terrorism in Low-and Middle-income Countries” (with B. Clements, R. Bhattarcharya, and S. Chakarvarty) in The Economic Analysis of Terrorism, Edited by Tilman Bruck, Routledge Studies in Defence and Peace Econonomics, 2007.

“New Evidence of Fiscal Adjustment and Growth in Transition Economies,” IMF Working Paper 06/244 October 2006 (with Alex Segura and Alejandro Simone).

“Fiscal Decentralization” in Regional Economic Outlook for sub-Saharan Africa, May 2006 (with Y. Yang and Kevin Carey).

“Fiscal Policy, Expenditure Composition, and Growth in Low-Income Countries” (with Benedicte Clements, Emanuele Baldacci, and Carlos Mulas-Granados) in IMF-Supported Programs: Recent Staff Research, Edited by Ashoka Mody and Alessandro Rebucci, IMF, 2006.

“Foreign Aid and Revenue Response: Does the Composition of Aid Matter?” (with B. Clements and others) in Helping Countries Develop: The Role of Fiscal Policy, edited by S. Gupta, B. Clements, and G. Inchauste, IMF 2004 (revised IMF Working Paper 03/176 September 2003).

“Staying the Course: Maintained Fiscal Control in Developing Countries, A Comment” in Brookings Trade Forum edited by D. Rodrick and S. Collins, 2004, Brookings Institution Press.

“Issues in Domestic Petroleum Pricing in Oil-Producing Countries” (with B. Clements, K. Fletcher, and G. Inchauste), in Fiscal Policy Formulation and Implementation in Oil Producing Countries, edited by J. Davis, R. Ossowsky, and A. Fedelino, IMF 2003 (revised IMF Working Paper 02/140, August 2002).

“Patterns of Military Spending After the Cold War,” Encyclopedia of Life Support Systems (Paris: UNESCO), September 2002.

“Corruption and the Provision of Health Care and Education Services” (with H. Davoodi and E. Tiongson), in The Political Economy of Corruption, Arvind K. Jain, ed. (London: Routledge), June 2001 (also IMF Working Paper 00/116, June 2000).

“What Happened to the Peace Dividend?” (with B. Clements and J. Schiff), The Economics of Defence (Glos. United Kingdom: Edward Elgar Publishing Limited), June 2001.

“Income Distribution and Tax, and Government Social Spending Policies in Developing Countries,” UNU/WIDER Working Paper No. 214 (with K. Chu and H. Davoodi), December 2000. Revised version published in Rising income Inequality and Poverty Reduction: Are They Compatible? Oxford University Press, March 2004 (edited by Andrea Cornea) (revised IMF Working Paper 00/62, March 2000).

“Setting the Seven Development Goals,” OECD Observer, December 2000, (with B. Hammond and E. Swanson).

Comments on “Quality and Composition of Public Spending in Africa: Suggestions for Increased Effectiveness,” in Africa: Adjusting to the Challenges of Globalization, edited by Laura Wallace; proceedings of a seminar in Paris (May 4–5, 1998), (Washington: International Monetary Fund), December 1999.

“Military Expenditures Stabilize During 1999; Variations Persist in Different Regions,” IMF Survey, May 22, 2000, Vol. 29, No. 10, pp. 175–76 (with L. de Mello and R. Sab).

“Rise in Social Spending Under IMF Programs Continues, But Benefits Are Unequal,” IMF Survey, March 20, 2000, Vol. 29, No. 6, pp. 95–96 (with R. Gillingham, M. Verhoeven, and E. Tiongson).

“Military Spending Continues to Stabilize; Some Countries Increase Social Spending” in IMF Survey, June 7, 1999, Vol. 28, No. 11, pp. 186–8, June 1999 (with C. McDonald, L. de Mello, and R. Sab).

“Education and Health Spending Continues Rise in Countries with IMF-Supported Programs,” in IMF Survey, March 8, 1999 (with G. Yamada and E. Tiongson).

“Mitigating the Social Costs of the Economic Crisis and the Reform Programs in Asia,” IMF Paper on Policy Analysis and Assessment, 98/7 (with C. McDonald and others). A revised version included in International Economic Policy Review, Vol. 1, 1999, International Monetary Fund (edited by P. Mason, P. Gotur, and T. Lane).

“Should Equity Be a Goal of Economic Policy?” Economic Issues No. 16, December 1998 (with B. Clements and others).

“Worldwide Military Expenditure Appear to Have Leveled Off,” IMF Survey, May 11, 1998 p 149-150 (with C. McDonald and E. Ruggiero).

“Social Spending Rises and Indicators Improve With IMF-Supported Programs,” IMF Survey, February 23, 1998 (with B. Clements, M. Verhoeven, and E. Tiongson).

“Countries With ESAF-Supported Programs Show Progress in Social Spending, Social Indicators,” IMF Survey, July 1997 (with B. Clements and M. Verhoeven).

“Worldwide Military Expenditure Continue to Fall, but at Slower Pace,” IMF Survey, April 1997 (with B. Clements and E. Ruggiero).

“Drop in World Military Spending Yields Large Dividend,” IMF Survey, June 1996 (with J. Schiff and B. Clements).

“Economic Reforms, Social Safety Nets and the Budget in Transition Economies” (with K. Chu), in Fiscal Policy and Economic Reforms, edited by M. Blejer and T. Ter-Minassian, Routledge, London, January 1997.

“Ethiopia” (with Giorgio Brosio) in Fiscal Federalism in Theory and Practice, edited by T. Ter-Minassian (Washington: International Monetary Fund), 1997.

“Reforming Ukraine’s Social Safety Net: Short-term and Medium Term Options,” (with E. Harris and Alexandros Mourmouras) in Ukraine—Accelerating the Transition to the Market, edited by Peter K. Cornelius and Patrick Lenain; proceedings of a World Bank-IMF Seminar, February 1997.

“Commodity Booms and Government Expenditure Responses,” IMF Working Paper 91/44, March 1992 (with K. Miranda).

“The Black Economy: A Review of Methodologies,” in the Unsanctioned Economy, edited by G.S. Monga and G. Sanctis, Himalaya Publishing Company, Bombay, 1984 (with P. Gupta).

Pricing Efficiency in Markets for Slaughter Hogs in West Germany, Kieler Wissenschafts-Verlag Vauk, Kiel (with Rolf Mueller), 1981.

Book Reviews

United Nations and the Third World: Shifting Paradigms, Tata McGraw-Hill, New Delhi, 1996 (by Bimal Chakraborty) in Finance & Development, June 1998.

Safety-Nets, Politics, and the Poor: Transition to Market Economies, The Brookings Institution, Washington, DC, 1994 (by Carol Graham) in Finance & Development, June 1995.

“Macroeconomic Consequences of Farm Support Policies,” Duke University Press, Durham, U.S.A., 1989, (edited by Andrew Stoeckel, David Vincent, and Sandy Cuthbertson) in Finance & Development, March 1991.

“Technology, Economies of Scale, and Gains from Trade and Factor Mobility: An Empirical Study of Indo-US Comparative Advantage in Trade,” Carlton Press Inc., New York (by Sham L. Bhatia) in Weltwirtschaftliches Archiv (Review of World Economics), March 1986.

“Foodgrains Marketing System in India,” Associated Publishing House, New Delhi, 1982 (by G.S. Kainth) in Indian Journal of Agricultural Economics, April-June 1984.

“IMF Institute, Financial Policy Workshop: The Case of Kenya,” International Monetary Fund, Washington, D.C., 1981 in Weltwirtschaftliches Archiv, (Review of World Economics), March 1982.

“Monetary Planning for India, Delhi, 1979,” Oxford University Press (by Suraj B. Gupta) in Weltwirtschaftliches Archiv, (Review of World Economics), December 1981.

Using Fiscal Policy to Recover from Banking Crises: The Role of Budget Composition

Books

Helping Countries Develop: The Role of Fiscal Policy, edited with Benedict Clements and Gabriela Inchauste (Washington: International Monetary Fund), September 2004. (Selected book reviews in Review of Development Economics, December 2006 and the World Economy, October 2005)

Governance, Corruption, and Economic Performance, edited with George Abed (Washington: International Monetary Fund), September 2002. (Selected book reviews in Journal of Economic Literature, June 2004; European Journal of Political Economy, November 2004).

Economic Policy and Equity, edited with Vito Tanzi and Ke-young Chu (Washington: International Monetary Fund), May 1999.

Social Safety Nets: Issues and Experiences, edited with Ke-young Chu (Washington: International Monetary Fund), April 1998.

Cost of Living Adjustment: A Study of Dearness Allowance, Allied Publishers, New Delhi, 1986 (with P. Gupta).

Inflation and Corporate Tax Provisions in India, Radiant Publishers, New Delhi, 1985 (with P. Gupta).

Black Market Exchange Rates, J.C.B. Mohr (Paul Siebeck), Tübingen, Germany. 1981.

How Effective is Fiscal Policy Response in Systemic Banking Crises?