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Innovative Fiscal Policy and Economic Development in Transition Economies by Aleksandr V Gevorkyan Pdf
This book explores the problems of fiscal policy as an instrument of economic and social development in the modern environment, primarily focusing on the transition economies of Eastern Europe, Caucasus, and Central Asia. Evaluating the transformational experience in these countries, this work meets a need for a critical analysis in the aftermath of the 1990s market liberalization reforms, of current trends and to outline the roadmap for future development.
Economic Growth and Fiscal Planning in New York by William Duncombe Pdf
In an era of federal deficits and struggling municipalities, states have emerged as the most significant governmental actors. But state governments face the major challenge of fiscal planning in the midst of economic change. Roy Bahl and William Duncombe tackle this challenge head-on. Using New York as a case study, they identify looming dangers for state revenue and expenditure planning.Bahl and Duncombe begin with the premise that one cannot separate an evaluation of fiscal performance from an evaluation of economic performance. Accordingly, they describe and analyze the patterns of population, employment, and personal income growth. Following this is a study of state and local government finances in New York since 1970 and a recounting of the fiscal adjustments that were taken in the face of slower and then faster growth in the economy.The authors conclude that based on current conditions, the state and its local governments are in for fiscal belt-tightening. They note that the state should take a comprehensive view in planning the development and retrenchment of its government sector. The book is thought-provoking, exhaustively researched, and sensibly written. Its lessons are applicable everywhere and should be read by all those seeking a route through the tangled thicket of government policy for economic growth.
Fiscal Policy after the Financial Crisis by Alberto Alesina,Francesco Giavazzi Pdf
The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth. Fiscal Policy after the Financial Crisis focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. In the face of uncertainty over the sustainability of recent economic policies, further contributions to this volume discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes. A final section examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning governing monetary policy. A direct intervention in timely debates, Fiscal Policy after the Financial Crisis offers invaluable insights about various responses to the recent financial crisis.
Post-crisis Fiscal Policy by Carlo Cottarelli,Philip Gerson,Abdelhak Senhadji,A. Senhadji Semlali Pdf
"Fiscal policy makers have faced an extraordinarily challenging environment over the last few years. At the outset of the global financial crisis, the International Monetary Fund (IMF) for the first time advocated a fiscal expansion across all countries able to afford it, a seeming departure from the long-held consensus among economists that monetary policy rather than fiscal policy was the appropriate response to fluctuations in economic activity. Since then, the IMF has emphasized that the speed of fiscal adjustment should be determined by the specific circumstances in each country. Its recommendation that deficit reduction proceed steadily, but gradually, positions the IMF between the fiscal doves (who argue for postponing fiscal adjustment altogether) and the fiscal hawks (who argue for a front-loaded adjustment). This volume brings together the analysis underpinning the IMF's position on the evolving role of fiscal policy. After establishing its analytical foundation, with chapters on such topics as fiscal risk and debt dynamics, the book analyzes the buildup of fiscal vulnerabilities before the crisis, presents the policy response during the crisis, discusses the fiscal outlook and policy challenges ahead, and offers lessons learned from the crisis and its aftermath. Topics discussed include a historical view of debt accumulation; the timing, size, and composition of fiscal stimulus packages in advanced and emerging economies; the heated debate surrounding the size of fiscal multipliers and the effectiveness of fiscal policy as a countercyclical tool; coordination of fiscal and monetary policies; the sovereign debt crisis in Europe; and institutional reform aimed at fostering fiscal discipline."--Publisher's description.
Fiscal Policy During the Demise of Central Planning by Mr.Andrew Feltenstein Pdf
This paper constructs an intertemporal general equilibrium model designed to examine an economy in transition from central planning to being market oriented. A numerical algorithm is developed to obtain a solution for the model. Simulations using stylized country-specific data examine the effects of price controls during the transition period, as well as of imposing taxes on returns to investment, and on interest earned on private savings. The paper concludes that, under certain circumstances, the taxation of investment as well as of private savings may have positive effects upon consumer welfare, if price distortions are sufficiently severe.
Sustainable Fiscal Policy and Economic Stability by Philippe Burger Pdf
The public debt/GDP ratio in several countries showed the largest ever peacetime increase during the last 20 years of the 20th century, thereby causing widespread fiscal unsustainability. Towards the latter half of the 1990s, several governments initiated steps to reverse this trend, however, they frequently found that their policies were not always successful. This book examines why. that merely running a primary surplus to restore fiscal sustainability will not always work. In effect, governments may simply shift the problem to other sectors of the economy, therby creating economic instability. By linking the budget constraints of govenment and non-governmental agents at a macroeconomic level, the author's framework allows him to measure how changes to the budget of one economic sector are transferred to the budgetary position of another sector. By taking account of thes sectoral balance effects, as well as the role of uncertainty and expectations, the book develops a set of rules for the maintnance of fiscal sustainability and economic stability. position of fiscal sustainability, this book should be useful for economists and academic working on fiscal and macroeconomic policy, especially from a Post-Keynesian perspective, and policymakers interested in ensuring economic and fiscal stability.
Fiscal Policy and Economic Growth by Cheryl Williamson Gray,Tracey Lane,Aristomène Varoudakis Pdf
Worldwide experience highlights public finance policies that promote economic growth while meeting the need for fundamental public goods. Macroeconomic stability is essential, as large budget deficits retard growth, followed by moderate levels of public spending - around one-third of GDP or less - especially when governance and public administration are weak; that in turn requires efficiency, particularly in areas such as infrastructure, health, education, and social protection; finally, lower income and payroll tax rates can spur investment and employment. The Eastern European and Central Asia countries pioneered flat income taxes without generally suffering revenue losses as a result, but they have not addressed the problem of high payroll taxes and still face many hurdles in improving the efficiency and effectiveness of public spending and revenue generation.
Cases in Economic Development by Michael Roemer,Joseph J. Stern Pdf
Cases in Economic Development: Projects, Policies and Strategies presents cases on project analysis, sectoral planning, and macroeconomic policies. The cases are set in an imaginary country called Beracia in order to simulate actual planning experience. Beracia has been designed with a greater than normal range of problems, so that it can encompass the features of mineral-rich countries such as Zambia and Peru; agrarian economies such as the Philippines and Ivory Coast; and aspiring exporters of manufactures such as Colombia and Pakistan. This text has 11 cases divided into five sections. After providing an overview of development planning, development goals and strategies, and planning theory and practice, the book introduces the fictional country in the next section, which presents four reports similar to World Bank economic reports on developing countries (economic and political developments; income and employment; trade and payments; and fiscal and financial developments). Sufficient data are elaborated to explain the economy’s salient features. The third section focuses on assumptions and controversies surrounding project analysis, while the section on sectorial planning introduces the reader to input-output analysis, efficiency indicators, education planning, and industrial strategy. The section on macroeconomic planning covers macroeconomic forecasts; balance-of-payments crisis; fiscal planning and reform; and income inequality and poverty. The cases span many sectors, from mining and agriculture to manufacturing, transport, education, and health. This book is written primarily for students, professional economists, and experienced policy analysts.
Fiscal and Monetary Policies for Steady Economic Growth by Committee for Economic Development Pdf
USA. Statement, based on economic research by the research and policy committee of the committee for economic development, on fiscal policy and monetary policy of the federal government, with particular reference to the role thereof in achieving steady economic growth - covers full employment policy, price stability, the balance of payments, budget balance for the optimum use of resources, etc. Statistical tables.
The Economics of Property and Planning by Graham Squires Pdf
This book introduces the interlocking disciplines of property and planning to economic theory and practice. Unlike any other available textbook, The Economics of Property and Planning skilfully introduces the reader to the interplay between property and planning using an economic lens. As resources become scarce, there is a growing need for students to understand the principles of economics in property and planning, especially given the rapid social, environmental, technological, and political changes that are shaping places. The book begins with an outline of key economists and economic problems, then resources and scarcity, before examining macro- and microeconomic factors at play in property and planning. Furthermore, this book covers a variety of topics, including spatial and locational modelling, fiscal approaches to redistribution, regeneration and renewal, and transport and infrastructure financing. There is also a particular focus on contemporary issues such as climate change, environmental limits to economic growth, sustainability and resilience, and affordable housing. This book also introduces practical evaluation tools and appraisal, plus a look at property and planning with respect to macroeconomic objectives, policy, and new directions. With property and planning essential factors in economic thinking and doing, this book provides insight into what future places will look like in real terms and how they will be shaped by policy. Targeted disciplines for this book include Economics, Planning, Property, Construction, Geography, Environmental Management, Sustainability, Housing, Built Environment, Land Economy, Urban Studies, Regional Studies, and Public Policy.
Author : International Monetary Fund Publisher : International Monetary Fund Page : 257 pages File Size : 43,6 Mb Release : 2015-04-20 Category : Business & Economics ISBN : 9781498344654
Fiscal Policy and Long-Term Growth by International Monetary Fund Pdf
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
