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A Decade Of Fiscal Transition
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Book Synopsis China's Local Public Finance in Transition by : Joyce Y. Man
Download or read book China's Local Public Finance in Transition written by Joyce Y. Man and published by Lincoln Inst of Land Policy. This book was released on 2011 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's economy has developed rapidly since the economic reforms in 1978, but public finance reforms have proceeded more slowly. This book looks at three major policy options addressing the underlying imbalance between revenues and expenditures at the local level in China. This is a valuable resource for anyone interested in local fiscal issues in China.
Book Synopsis Public Finance in China by : Jiwei Lou
Download or read book Public Finance in China written by Jiwei Lou and published by World Bank Publications. This book was released on 2008-01-31 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1980, China's economy has been the envy of the world. Is annual growth rate of more than 9 percent during this period makes China today the world's fourth-largest economy. And this sustained growth has reduced the poverty rate from 60 percent of the population to less than 10 percent. However, such rapid growth has also increased inequalities in income and access to basic services and stressed natural resources. The government seeks to resolve these and other issues by creating a 'harmonious society' -- shifting priorities from the overriding pursuit of growth to more balanced economic and social development. This volume compiles analyses and insights from high-level Chinese policy makers and prominent international scholars that address the changes needed in public finance for success in the government's new endeavor. It examines such key policy issues as public finance and the changing role of the state; fiscal reform and revenue and expenditure assignments; intergovernmental relations and fiscal transfers; and financing and delivery of basic public goods such as compulsory education, innovation, public health, and social protection. And it offers concrete recommendations for immediate policy changes and for China's future reform agenda. Public Finance in China' is a must-read for specialists in public finance and for those seeking an understanding of the complex and daunting challenges China is facing.
Book Synopsis The Spanish Fiscal Transition by : Sara Torregrosa Hetland
Download or read book The Spanish Fiscal Transition written by Sara Torregrosa Hetland and published by Springer Nature. This book was released on 2021-09-18 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an analysis of the process and outcomes of the tax reform, with a focus on progressivity, redistribution, and inequality. Between 1977 and 1986, Spain underwent a comprehensive tax reform which shaped its fiscal system until today. It was made in connection with the transition to democracy and indeed was understood as a fundamental part of the political change. The book situates the reform both within Spanish history and international trends in tax systems and connects it to the expansion of the welfare state and regional decentralization in Spain. The analysis reveals that the tax system failed to attain progressivity, and significant levels of fraud had a noticeable impact on inequality. Because of this, fiscal redistribution remained limited. In the new political economy of the second globalization, late democratic and fiscal transitioners were unable to emulate the path of the welfare state forerunners.
Book Synopsis Diversification and Cooperation in a Decarbonizing World by : Grzegorz Peszko
Download or read book Diversification and Cooperation in a Decarbonizing World written by Grzegorz Peszko and published by World Bank Publications. This book was released on 2020-07-24 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first stocktaking of what the decarbonization of the world economy means for fossil fuel†“dependent countries. These countries are the most exposed to the impacts of global climate policies and, at the same time, are often unprepared to manage them. They depend on the export of oil, gas, or coal; the use of carbon-intensive infrastructure (for example, refineries, petrochemicals, and coal power plants); or both. Fossil fuel†“dependent countries face financial, fiscal, and macro-structural risks from the transition of the global economy away from carbon-intensive fuels and the value chains based on them. This book focuses on managing these transition risks and harnessing related opportunities. Diversification and Cooperation in a Decarbonizing World identifies multiple strategies that fossil fuel†“dependent countries can pursue to navigate the turbulent waters of a low-carbon transition. The policy and investment choices to be made in the next decade will determine these countries’ degree of exposure and overall resilience. Abandoning their comfort zones and developing completely new skills and capabilities in a time frame consistent with the Paris Agreement on climate change is a daunting challenge and requires long-term revenue visibility and consistent policy leadership. This book proposes a constructive framework for climate strategies for fossil fuel†“dependent countries based on new approaches to diversification and international climate cooperation. Climate policy leaders share responsibility for creating room for all countries to contribute to the goals of the Paris Agreement, taking into account the specific vulnerabilities and opportunities each country faces.
Download or read book Beyond Transition written by Ben Slay and published by Routledge. This book was released on 2017-11-30 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: The post-communist Central European and Baltic economies are now approaching the end of their transitions to well-functioning market systems. In some respects, the approaching EU accession and conclusion of the transition marks the end of a fascinating period in economic history. Beyond Transition focuses on the economic problems and issues facing Central Europe and the Baltics, the Balkans, and countries belonging to the Commonwealth for Independent States (CIS) in the post-transition context. This focus reflects the need to better understand two processes that are increasingly apparent in the post-communist economic space. First, many of the problems now facing policy makers in post-communist economies - choice of exchange rate regime, tax reform, labour market regulation, improving corporate governance - also face policy makers in developed and developing countries in other parts of the world. Second, the EU's eastern enlargement and the policy agendas facing the first wave accession candidates have major implications for the CIS and Balkan countries that have not been (and may never be) invited to join this process.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498344658 Total Pages :257 pages Book Rating :4.4/5 (983 download)
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.
Book Synopsis Public Finance Reform During the Transition by : Lajos Bokros
Download or read book Public Finance Reform During the Transition written by Lajos Bokros and published by World Bank Publications. This book was released on 1998-01-01 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public finance reform is simultaneously a process of fiscal adjustment and structural reforms in the public sector. Under socialist rule, Hungary's concept of public finance was nebulous, since there was no clear delineation between private and public sectors. As a transition country, structural reforms were aimed at creating not only sustainable institutional arrangements but were aimed at creating a government sector adapted to a market economy as well. The former socialist states were forced into abrupt transitions; and there was little time for minds and institutions to adapt. This volume aims to provide a comprehensive description of Hungary's experience of public finance reform in a former socialist economy, including: a history of the reform process; an empirical analysis of trends in public spending and revenues; evidence of Hungary's ability to move towards accession to the European Union (EU); a description of policy reforms in the public welfare system; an analysis of the reforms in key aspects of the institutional framework; and an examination of the tax system.
Book Synopsis Making the Property Tax Work by : Roy W. Bahl
Download or read book Making the Property Tax Work written by Roy W. Bahl and published by . This book was released on 2008 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: Students of public finance and fiscal decentralization in developing and transitional countries have long argued for more intensive use of the property tax. It would seem the ideal choice for financing local government services. Based on a Lincoln Institute conference held in October 2006, the chapters in this book take this argument one step further in drawing on recent experience with property tax policy and administration. Two main sets of issues are addressed. First, why hasn't the property tax worked well in most developing and transitional countries? Second, what can be done to make the property tax a more relevant source for local governments in those countries? The numerous advantages of the property tax as a local government revenue source are analyzed and discussed in detail as are the many perceived disadvantages.
Book Synopsis Western Balkan Economies in Transition by : Reiner Osbild
Download or read book Western Balkan Economies in Transition written by Reiner Osbild and published by Springer. This book was released on 2018-08-23 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the economic and social development of the Western Balkan region, a group of six countries that are potential candidates for EU membership. It focuses on the key economic issues facing these countries, including the challenge of promoting economic growth, limiting public deficits and debt, and fostering international trade relations. Given the severe impact of the recent economic crisis on social welfare in the region, it also investigates the nature and extent of social exclusion, a factor likely to produce future political instabilities if not effectively addressed by a return to sustainable economic growth. The contributions explore these issues in light of the major influence of EU policy instruments and advice, which are currently guiding the economies along an accession trajectory to future EU membership.
Book Synopsis Public Financial Management and Its Emerging Architecture by : Mr. M. Cangiano
Download or read book Public Financial Management and Its Emerging Architecture written by Mr. M. Cangiano and published by International Monetary Fund. This book was released on 2013-04-05 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms. Watch Video of Book Launch
Book Synopsis Global Waves of Debt by : M. Ayhan Kose
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Book Synopsis Tax Systems in Transition by : Pradeep Mitra
Download or read book Tax Systems in Transition written by Pradeep Mitra and published by World Bank Publications. This book was released on 2003 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: How have tax systems, whose primary role is to raise resources to finance public expenditures, evolved in the transition countries of Eastern Europe and the former Soviet Union? Mitra and Stern find that: (1) the ratio of tax revenue-to-GDP decreased largely due to a fall in revenue from corporate income tax; (2) the fall in revenue from the corporate income tax led to a decline in the importance of income taxes, notwithstanding a rise in the share of individual income tax; (3) social security contributions together with payroll taxes became less important in the Commonwealth of Independent States; and (4) domestic indirect taxes gained in importance in overall tax revenues. Apart from the increased role of personal income taxation, these developments go in a direction opposite to those observed in poor countries as they get richer. They show a key aspect of transition, namely a movement from a system where the government exercised a preeminent claim on output and income before citizens had access to the remainder, to one with a greatly diminished role for the public sector, as reflected in a lower ratio of public expenditure to GDP, where the government needs to collect revenue in order to spend. Can expected levels of public expenditure be financed by the basic instruments of a modern tax system without creating significant distortions in the private sector? The authors suggest that transition countries, depending on their stage of development, should aim for a tax revenue-to-GDP ratio in the range of 22 to 31 percent, comprising value-added tax (6 to 7 percent), excises (2 to 3 percent), income tax (6 to 9 percent), social security contribution together with payroll tax (6 to 10 percent), and other taxes such as on trade and on property (2 percent). The authors' analysis also sheds light on the links between tax policy, tax administration, and the investment climate in transition countries. This paper - a joint product of the Office of the Regional Vice President, Europe and Central Asia Region and the Office of the Senior Vice President and Chief Economist, Development Economics - is part of a larger effort in the Bank on the subject of transition meets development.
Book Synopsis A Decade after the Global Recession by : M. Ayhan Kose
Download or read book A Decade after the Global Recession written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-19 with total page 475 pages. Available in PDF, EPUB and Kindle. Book excerpt: This year marks the tenth anniversary of the 2009 global recession. Most emerging market and developing economies weathered the global recession relatively well, in part by using the sizable fiscal and monetary policy ammunition accumulated during prior years of strong growth. However, their growth prospects have weakened since then, and many now have less policy space. This study provides the first comprehensive stocktaking of the past decade from the perspective of emerging market and developing economies. Many of these economies have now become more vulnerable to economic shocks. The study discusses lessons from the global recession and policy options for these economies to strengthen growth and prepare for the possibility of another global downturn.
Book Synopsis From “Hindu Growth” to Productivity Surge by : Mr.Dani Rodrik
Download or read book From “Hindu Growth” to Productivity Surge written by Mr.Dani Rodrik and published by International Monetary Fund. This book was released on 2004-05-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the causes of India's productivity surge around 1980, more than a decade before serious economic reforms were initiated. Trade liberalization, expansionary demand, a favorable external environment, and improved agricultural performance did not play a role. We find evidence that the trigger may have been an attitudinal shift by the government in the early 1980s that unlike the reforms of the 1990s, was probusiness rather than promarket in character, favoring the interests of existing businesses rather than new entrants or consumers. A relatively small shift elicited a large productivity response, because India was far away from its income-possibility frontier. Registered manufacturing, which had been built up in previous decades, played an important role in determining which states took advantage of the changed environment.
Book Synopsis Expansionary Austerity New International Evidence by : Mr.Daniel Leigh
Download or read book Expansionary Austerity New International Evidence written by Mr.Daniel Leigh and published by International Monetary Fund. This book was released on 2011-07-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.
Book Synopsis The Geopolitics of the Global Energy Transition by : Manfred Hafner
Download or read book The Geopolitics of the Global Energy Transition written by Manfred Hafner and published by Springer Nature. This book was released on 2020-06-09 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world is currently undergoing an historic energy transition, driven by increasingly stringent decarbonisation policies and rapid advances in low-carbon technologies. The large-scale shift to low-carbon energy is disrupting the global energy system, impacting whole economies, and changing the political dynamics within and between countries. This open access book, written by leading energy scholars, examines the economic and geopolitical implications of the global energy transition, from both regional and thematic perspectives. The first part of the book addresses the geopolitical implications in the world’s main energy-producing and energy-consuming regions, while the second presents in-depth case studies on selected issues, ranging from the geopolitics of renewable energy, to the mineral foundations of the global energy transformation, to governance issues in connection with the changing global energy order. Given its scope, the book will appeal to researchers in energy, climate change and international relations, as well as to professionals working in the energy industry.
Book Synopsis Global Trends 2040 by : National Intelligence Council
Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
