Fiscal Policies and Growth in the World Economy

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Author :
Publisher : MIT Press
ISBN 13 : 9780262561044
Total Pages : 668 pages
Book Rating : 4.5/5 (61 download)

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Book Synopsis Fiscal Policies and Growth in the World Economy by : Jacob A. Frenkel

Download or read book Fiscal Policies and Growth in the World Economy written by Jacob A. Frenkel and published by MIT Press. This book was released on 1996 with total page 668 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covering a full array of topics in open economy macro and public economics, Fiscal Policies and Growth in the World Economy has been thoroughly revised and extended. The added material in this new edition includes stochastic rational-expectations extensions of the Mundell-Fleming model, the development of a dynamic-optimizing approach of the trade balance, and an entirely new part on issues of international economic convergence, which also contains a comprehensive policy overview. Other chapters have been updated or reorganized, and there is a brief guide to solving typical dynamic macro problems along with a printout of software suitable for numerical simulations. A companion diskette containing solutions in dynamic macro problems and some sample programs is available in GAUSS for IBM. The exercises and solutions manual by Krueger, Ostry, and Yuen has also been updated and extended. Fiscal Policies and Growth in the World Economy has been used successfully in graduate and senior undergraduate courses in international economics and public finance. The objective of this new edition remains the same as before: to treat the major topics in macro and public economics using both traditional and modern approaches. The traditional approach is first explained, from the simple income-expenditure model to the more advanced stochastic Mundell-Fleming model. The modern intertemporal approach is then presented, starting with the simple two-period model and extending it to a full-fledged dynamic model. Other sections review recent developments in the world economy; government spending, budget deficits, and differences across international taxation; and economic growth in the world economy, especially the convergence of income and growth levels across countries.

Inequality and Fiscal Policy

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1513567756
Total Pages : 450 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Inequality and Fiscal Policy by : Mr.Benedict J. Clements

Download or read book Inequality and Fiscal Policy written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2015-09-21 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sizeable increase in income inequality experienced in advanced economies and many parts of the world since the 1990s and the severe consequences of the global economic and financial crisis have brought distributional issues to the top of the policy agenda. The challenge for many governments is to address concerns over rising inequality while simultaneously promoting economic efficiency and more robust economic growth. The book delves into this discussion by analyzing fiscal policy and its link with inequality. Fiscal policy is the government’s most powerful tool for addressing inequality. It affects households ‘consumption directly (through taxes and transfers) and indirectly (via incentives for work and production and the provision of public goods and individual services such as education and health). An important message of the book is that growth and equity are not necessarily at odds; with the appropriate mix of policy instruments and careful policy design, countries can in many cases achieve better distributional outcomes and improve economic efficiency. Country studies (on the Netherlands, China, India, Republic of Congo, and Brazil) demonstrate the diversity of challenges across countries and their differing capacity to use fiscal policy for redistribution. The analysis presented in the book builds on and extends work done at the IMF, and also includes contributions from leading academics.

Is Fiscal Policy the Answer?

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Author :
Publisher : World Bank Publications
ISBN 13 : 0821396307
Total Pages : 286 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Is Fiscal Policy the Answer? by : Blanca Moreno-Dodson

Download or read book Is Fiscal Policy the Answer? written by Blanca Moreno-Dodson and published by World Bank Publications. This book was released on 2012-10 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal policy is an important instrument for maintaining and improving living standards. Such living standards can be viewed as an outcome of the interaction between the opportunities offered by society and the readiness and ability of each person to exploit them. Under certain circumstances, public finance can make an important contribution to the creation of opportunities within a given society by raising resources from the private sector through taxation or borrowing (domestic and external) and allocating those resources effectively and equitably in the form of public spending, including through public goods and transfers. The first chapters in this volume sketch out a framework that policy makers can use in adopting a more cohesive or integrated approach to the short- and long-term dimensions of fiscal policy. Here the traditional threefold rationale for fiscal policy proposed by Musgrave-stabilization, resource allocation, and distribution-continues to be useful. Other chapters in this volume take up some of the critical institutional challenges in implementing fiscal policy for longer-term growth and development. These chapters also look at the tools and approaches being developed to address these challenges. Improving the quality of public investment management is a particular priority in view of the recent evidence that as little as half of all public investment expenditure translates into productive capital stock. The last chapter in this volume is a case study of fiscal responses to the great recession in low-income Sub-Saharan Africa, looking at stabilization and the longer-run growth, as well as distributional aspects of such responses. The growing depth of domestic financial markets in many African countries rather unexpectedly is turning out to be a critical source of financing for fiscal policy responses.

Fiscal Policies for Development and Climate Action

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Publisher : World Bank Publications
ISBN 13 : 9781464813580
Total Pages : 240 pages
Book Rating : 4.8/5 (135 download)

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Book Synopsis Fiscal Policies for Development and Climate Action by : Miria A. Pigato

Download or read book Fiscal Policies for Development and Climate Action written by Miria A. Pigato and published by World Bank Publications. This book was released on 2018-12-31 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides actionable advice on how to design and implement fiscal policies for both development and climate action. Building on more than two decades of research in development and environmental economics, it argues that well-designed environmental tax reforms are especially valuable in developing countries, where they can reduce emissions, increase domestic revenues, and generate positive welfare effects such as cleaner water, safer roads, and improvements in human health. Moreover, these reforms need not harm competitiveness. New empirical evidence from Indonesia and Mexico suggests that under certain conditions, raising fuel prices can actually increase firm productivity. Finally, the report discusses the role of fiscal policy in strengthening resilience to climate change. It provides evidence that preventive public investments and measures to build fiscal buffers can help safeguard stability and growth in the face of rising climate risks. In this way, environmental tax reforms and climate risk-management strategies can lay the much-needed fiscal foundation for development and climate action.

Fiscal Policy after the Financial Crisis

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Author :
Publisher : University of Chicago Press
ISBN 13 : 022601844X
Total Pages : 596 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis Fiscal Policy after the Financial Crisis by : Alberto Alesina

Download or read book Fiscal Policy after the Financial Crisis written by Alberto Alesina and published by University of Chicago Press. This book was released on 2013-06-25 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Fiscal Policy and Economic Growth

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Author :
Publisher : World Bank Publications
ISBN 13 : 0821371827
Total Pages : 358 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Fiscal Policy and Economic Growth by : Cheryl Williamson Gray

Download or read book Fiscal Policy and Economic Growth written by Cheryl Williamson Gray and published by World Bank Publications. This book was released on 2007 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Fiscal Policy for Development

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Author :
Publisher : Studies in Development Economi
ISBN 13 :
Total Pages : 368 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Fiscal Policy for Development by : Tony Addison

Download or read book Fiscal Policy for Development written by Tony Addison and published by Studies in Development Economi. This book was released on 2004-05-25 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal policy is critical to the development of poor countries. Public spending on pro-poor services and public goods must be increased, tax revenues must be mobilized, and macro-economic stabilization must be achieved without inhibiting growth, poverty reduction and post-conflict reconstruction. This book provides both a comprehensive and balanced guide to the current policy debate and new results on the development impact of fiscal policies. It is essential reading for students of development economics as well as all those seeking to improve policy-effectiveness.

Fiscal Policy and Long-Term Growth

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498344658
Total Pages : 257 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Fiscal Policy and Long-Term Growth by : International Monetary Fund

Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Fiscal Policy and Economic Development

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1451870132
Total Pages : 35 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Fiscal Policy and Economic Development by : Mr.Peter Rangazas

Download or read book Fiscal Policy and Economic Development written by Mr.Peter Rangazas and published by International Monetary Fund. This book was released on 2008-06-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper offers possible explanations for three generally observed facts about fiscal policy and development: (F1) The relative size of government increases as an economy develops, (F2) The rise in government and taxation are associated with rising or constant economic growth rates, and (F3) Today's developing countries have larger government sectors than did today's developed countries at similar stages of development. The explanations for these facts are based on the structural transformation from traditional (mostly agricultural) to modern (industrial and post-industrial) production, rising public infrastructure investment, and less representative governments in many of today's developing economies.

Fiscal Policy in Underdeveloped Countries

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Author :
Publisher : Routledge
ISBN 13 : 0415593581
Total Pages : 218 pages
Book Rating : 4.4/5 (155 download)

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Book Synopsis Fiscal Policy in Underdeveloped Countries by : Raja J. Chelliah

Download or read book Fiscal Policy in Underdeveloped Countries written by Raja J. Chelliah and published by Routledge. This book was released on 2010-11-26 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1960, with a second edition in 1969, this book is of special interest for having been the first systematic attempt to discuss problems of fiscal policy from the point of view of promoting economic growth in underdeveloped countries. It deals mainly with problems of tax policy, and outlines the economic principles by which the structure of taxation in developing economies can be constructed and evaluated. The work made a distinct contribution in the field of Development studies by reorienting the theory of fiscal policy originally developed in the economically advanced countries to the problems, requirements and institutional structure of an underdeveloped, over-populated country with a mixed enterprise system.

Fiscal Policy and Development

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1484388917
Total Pages : 45 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Fiscal Policy and Development by : Vitor Gaspar

Download or read book Fiscal Policy and Development written by Vitor Gaspar and published by International Monetary Fund. This book was released on 2019-01-23 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goal of this paper is to estimate the additional annual spending required for meaningful progress on the SDGs in these areas. Our estimates refer to additional spending in 2030, relative to a baseline of current spending to GDP in these sectors. Toward this end, we apply an innovative costing methodology to a sample of 155 countries: 49 low- income developing countries, 72 emerging market economies, and 34 advanced economies. And we refine the analysis with five country studies: Rwanda, Benin, Vietnam, Indonesia, and Guatemala.

Fiscal Policy and Management in East Asia

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Author :
Publisher : University of Chicago Press
ISBN 13 : 0226387062
Total Pages : 471 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis Fiscal Policy and Management in East Asia by : Takatoshi Ito

Download or read book Fiscal Policy and Management in East Asia written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2009-02-15 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing fiscal policy—the revenues and spending of an individual nation—is among the most challenging tasks facing governments. Wealthy countries are constrained by complex regulation and taxation policies, while developing nations often face high inflation and trade taxes. In this volume, esteemed economists Takatoshi Ito and Andrew K. Rose, along with other leading experts, examine the problems and challenges facing public finance in East Asian developing countries as well as the United States and Japan. Fiscal Policy and Management in East Asia explores the inefficient tax systems of many developing countries, the relationship between public and private sector economic behavior, and the pressing issue of future obligations that governments have undertaken to provide pensions and health care for their citizens. Featuring both overviews and analyses of the countries discussed, this book will be of value to economists and policymakers seeking to understand fiscal policy in a global context.

Asian Development Outlook 2014

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Publisher : Asian Development Bank
ISBN 13 : 9292544535
Total Pages : 767 pages
Book Rating : 4.2/5 (925 download)

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Book Synopsis Asian Development Outlook 2014 by : Asian Development Bank

Download or read book Asian Development Outlook 2014 written by Asian Development Bank and published by Asian Development Bank. This book was released on 2014-04-01 with total page 767 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Asian Development Outlook 2014 projects that developing Asia's growth will increase from 6.1% in 2013 to 6.2% in 2014 and 6.4% in 2015. Moderating growth in the People's Republic of China as its economy adjusts to more balanced growth will offset to some extent the stronger demand expected from the industrial countries as their economies recover. Risks to the outlook have eased and are manageable. The monetary policy shift in the United States may invite some volatility ahead in financial markets, albeit mitigated by accommodative monetary policy in Japan and the euro area. The regional growth outlook depends on continued recovery in the major industrial economies and on the People's Republic of China managing to contain internal credit growth smoothly. Widening income gaps in developing Asia strengthens the case for greater use of fiscal policy to foster equality of opportunity. While the region has benefited from fiscal prudence in the past, demographic and environmental challenges are expected to compete for public resources in the coming years. To boost public spending on equity-enhancing programs such as education and health without undermining fiscal sustainability, the authorities will need to explore a wide range of options for mobilizing revenue and to build equity objectives into their fiscal plans.

Fiscal and Monetary Policies and Problems in Developing Countries

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Author :
Publisher : Cambridge University Press
ISBN 13 : 9780521270496
Total Pages : 316 pages
Book Rating : 4.2/5 (74 download)

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Book Synopsis Fiscal and Monetary Policies and Problems in Developing Countries by : Eprime Eshag

Download or read book Fiscal and Monetary Policies and Problems in Developing Countries written by Eprime Eshag and published by Cambridge University Press. This book was released on 1983 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consideration on the use of fiscal and monetary policies in less developed countries to overcome the three sets of obstacles to development largely because of socio-political constraints. The three major obstacles to development are: inadequate investment; misallocation of investment resources; and internal and external imbalance i.e. inflation and balance of payments deficits.

Fiscal Policy, Stabilization, and Growth

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Author :
Publisher : World Bank Publications
ISBN 13 : 9780821370858
Total Pages : 350 pages
Book Rating : 4.3/5 (78 download)

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Book Synopsis Fiscal Policy, Stabilization, and Growth by : Guillermo E. Perry

Download or read book Fiscal Policy, Stabilization, and Growth written by Guillermo E. Perry and published by World Bank Publications. This book was released on 2007-10-19 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. Important issues such as the composition of public expenditures (and its effects on growth), the ability of fiscal policy to stabilize cyclical fluctuations, and the currency composition of public debt were largely neglected. As a result, fiscal policy has often amplified cyclical volatility and dampened growth. 'Fiscal Policy, Stabilization, and Growth' explores the conduct of fiscal policy in Latin America and its consequences for macroeconomic stability and long-term growth. In particular, the book highlights the procyclical and anti-investment biases embedded in the region's fiscal policies, explores their causes and macroeconomic consequences, and asesses their possible solutions.

Is Fiscal Policy the Answer?

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Author :
Publisher : World Bank Publications
ISBN 13 : 0821396315
Total Pages : 285 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Is Fiscal Policy the Answer? by : Blanca Moreno-Dodson

Download or read book Is Fiscal Policy the Answer? written by Blanca Moreno-Dodson and published by World Bank Publications. This book was released on 2012-11-15 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effects of fiscal policy measures, both taxes and public spending, adopted by developing countries in response to the 2009 global crisis are still uncertain. This book discusses them using an analytical framework that allows for distilling possible implications on growth and social welfare.

The Impact of Fiscal Policy Variables on Output Growth

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1451841604
Total Pages : 75 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis The Impact of Fiscal Policy Variables on Output Growth by : Mr.Philip R. Gerson

Download or read book The Impact of Fiscal Policy Variables on Output Growth written by Mr.Philip R. Gerson and published by International Monetary Fund. This book was released on 1998-01-01 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper surveys the theoretical and empirical literature on the relationship between taxation and public expenditure and economic growth. Particular attention is paid to the effect of taxation and government expenditure on the supply and productivity of labor and physical capital. Studies suggest that well-targeted government expenditures on health, education, and infrastructure should have a positive impact on growth. By contrast, the impact of taxation on the supplies of labor and capital, and on output growth, is more muted.