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The prolonged sluggishness in the world economy since the global financial crisis has led to growing calls for a reorientation of macroeconomic policies toward more supportive fiscal measures. Such calls inevitably invite the question of how much fiscal space governments actually have. This paper provides a systematic review of the most popular definitions and measures of fiscal space. It examines the evolution of fiscal space measures and discusses the pros and cons of each measure. It then outlines several key factors that could help to further strengthen existing approaches and allow a more comprehensive assessment of fiscal space. By illustrating how different measures paint considerably different pictures of an economy's fiscal space, the paper underscores the need to use a dashboard of indicators. JEL Classification: C82, E62, H60, H63

The prolonged sluggishness in the world economy since the global financial crisis has led to growing calls for a reorientation of macroeconomic policies toward more supportive fiscal measures. Such calls inevitably invite the question of how much fiscal space governments actually have. This paper provides a systematic review of the most popular definitions and measures of fiscal space. It examines the evolution of fiscal space measures and discusses the pros and cons of each measure. It then outlines several key factors that could help to further strengthen existing approaches and allow a more comprehensive assessment of fiscal space. By illustrating how different measures paint considerably different pictures of an economy's fiscal space, the paper underscores the need to use a dashboard of indicators.JEL Classification: C82, E62, H60, H63

Network theory-based interventions could be particularly effective for promoting technology adoption when information friction serves as the major obstacle to technology diffusion. To inform policy makers interested in such interventions, this paper systematically reviews empirical evidence on determinants of how social networks shape technology diffusion. It identifies three sets of factors that individually and jointly affect technological diffusion on social networks: Population characteristics, including those describe overall network structures and key economic agents’ network positions and technology sophistication; technology parameters; and information propagation mechanisms. Accurate social network assessment—crucial for the formulation of network interventions—relies on making careful selection out of the many measures of network characteristics and layers of socioeconomic interactions to examine, and on accurately defining the scope and size of network data to collect. Evidence indicates effective network interventions should aim to introduce new technologies first to economic agents with high centrality or clustering, sufficient resemblance to average population, and whom are incentivized to communicate with others.

The potential of data for supporting development is bounded only by the amount and variety of data that can be collected and analyzed, which is to say it is almost infinite. However, if data's vast benefits are disproportionately captured by few in the society, leaving no one behind-an overarching principle of the Sustainable Development Goals-would be difficult to attain, even when everyone benefits from the use of data. This paper discusses key data properties and dynamics in data economy that create the tendencies for monopolies to emerge, reinforcing unbalanced power between corporates and other actors and generating negative distributional implications. If mismanaged, transformation toward the data economy could end up being an unequalizing force in an already highly-unequal world. In the context of data economy, this paper presents critiques of the common approaches to deal with monopolies. Self-correction in market is unlikely to happen fast enough but breaking up or nationalizing data monopolies are undesirable from effectiveness and innovation perspectives. Strengthening data ownership is key to rebalancing the power asymmetry between corporates and digital subjects, but difficulty of data valuation needs to be overcome. Analyses in this paper support further exploring the idea of setting up an independent, accountable and forward-looking Digital Authority that has both competition and noncompetition goals.