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Abdelrehim, Mahmoud, Hisham Dato Haji Yahya, Lau Wei Theng et Matemilola Bolaji Tunde. « Historical econometric analysis of the fiscal discipline determinants in the African countries ». OOO "Zhurnal "Voprosy Istorii" 2023, no 8-1 (1 août 2023) : 164–83. http://dx.doi.org/10.31166/voprosyistorii202308statyi24.
Texte intégralRésumé :
The signing of the Bretton Woods Agreement led the world towards a global economic liberalization system. This study aims to investigate the historical economic determinants of the fiscal discipline especially the interaction effect between the depreciation movements and the trade openness polices in the African countries. Surprisingly, the results demonstrated that the depreciation movements do not always success to achieve the fiscal discipline when the trade openness policies moderating this relationship.
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Wuyao, Weng, et Zhang Yuqiao. « The fiscal and tax policies on the development of GMOs for agriculture in China : retrospect, status quo and prospect ». Ecological genetics 20, no 1S (8 décembre 2022) : 5. http://dx.doi.org/10.17816/ecogen112096.
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The authors study the fiscal and tax policies on GMOs for agriculture in China, mainly focusing on income tax and value added tax, in order to analyze how the polices implement Chinas GMO strategy in the field of agriculture, reflect the development history of GMOs for agriculture in China and give suggestions on perfection for future policies based on Chinas GMO strategy.
Firstly, the authors illustrate Chinas past and present strategy for GMO technology application. As a whole, China permits the technical research on GMOs for agriculture, promotes very cautiously the related industrialization, and attaches great importance to safety supervision.
Secondly, by examining the past and present fiscal and tax policies relating to the above-mentioned GMO strategy, the basic features of Chinas policies are as follows: in terms of fiscal policy, the financial funds have been invested in GMO development and supervision in a bidirectional and balanced way; in terms of tax policy, there are some tax incentives, but the ones solely for GMO development and supervision are few.
Finally, the fiscal and tax policies are important and necessary tool to implement GMO strategy. Chinas future fiscal and tax policies need to be adapted to the future GMO strategy at issue.
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Barrell, Ray. « Fiscal Policy in the Longer Term ». National Institute Economic Review 217 (juillet 2011) : F4—F10. http://dx.doi.org/10.1177/0027950111420944.
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Governments are important players in many parts of the economy, and at present perhaps the most visible is the balance they set between taxing and spending. Tax and spending polices are in part designed to redistribute resources between individuals, but they can also be used to redistribute resources over time. Governments can also use tax and spending policies to sustain or restrain economic activity, and in most countries a case can be made for using active fiscal policy in periods of clear economic distress, or in periods when it would be useful to restrain imbalances that can lead to financial crises. As a result it is difficult to gauge the appropriate stance of policy. Short-run problems have to be balanced against longer-term needs, and mistakes are common. In the UK, for instance, in the six years up until 2008 the balance of policy was perhaps too loose, whilst over the next five years it is probably too tight, even though deficits are projected to be higher than they were before 2009.
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Marszałek, Paweł. « Coordination of monetary and fiscal policy ». Economics and Business Review 3, no 2 (30 décembre 2003) : 41–52. http://dx.doi.org/10.18559/ebr.2003.2.497.
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To achieve price stability, coordination of monetary and fiscal polices is required. The importance of coordination results from such premises as understanding the interdependence between monetary and fiscal policy, the role of central bank independence, the instruments-targets relation and financial stability as well. The lack of coordination will result in inferior overall economic performance, whereas providing it will give a better outcome for both policymakers. Therefore, coordination may be treated as the necessary condition for achieving price stability. (original abstract)
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Marcussi Pontes, Rúbia. « A gestão da crise financeira de 2008 pela China : o papel do Estado na implementação de políticas anticíclicas e desafios subsequentes ». Brazilian Journal of International Relations 7, no 1 (27 mai 2018) : 202–23. http://dx.doi.org/10.36311/2237-7743.2018.v7n1.01.p202.
Texte intégralRésumé :
O caráter sistêmico da crise financeira e econômica de 2008 demandou que rápidas políticas fossem implementadas pelos Estados para contrabalancear o alto nível de incerteza, a iliquidez e a queda na demanda agregada. Nesse sentido, a atuação da República Popular da China é considerada um caso extremamente relevante de estudo a partir do conjunto de medidas anticíclicas adotadas principalmente a partir de uma política fiscal ativa. O presente artigo busca, portanto, investigar o papel do Estado chinês na gestão da crise recente a partir da perspectiva Minskyana, reforçando a importância do big government e do big bank para a rápida recuperação econômica chinesa – embora não sem novos desafios.
Palavras-chave: crise financeira e econômica, China, políticas públicas anticíclicas, big government, big bank.
Abstract: The systemic effects of the financial and economic crisis of 2008 required the quick implementation of public polices to counterbalance the high level of uncertainty, illiquidity and the fall in the aggregate demand. The response of the Popular Republic of China is considered unique and worthy of investigation regarding the implementation of anti-cyclical public polices, with highlight to the role of its active fiscal police. Therefore, this articles aims to investigate the role of the Chinese state in the crisis management within Minsky’s perspective, recalling the importance of the big government and of the big bank for the quick economical response of China – although not without upcoming challenges.
Keywords: financial and economic crisis, China, anti-cyclical public policies, big government, big bank.
Recebido em: dezembro/2017.
Aprovado em: abril/2018.
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Shin, Geiguen, et Jeremy L. Hall. « Exploring the Influence of Federal Welfare Expenditures on State-Level New Economy Development Performance : Drawing From the Diffusion of Innovation Theory ». Economic Development Quarterly 32, no 3 (6 juin 2018) : 242–56. http://dx.doi.org/10.1177/0891242418778115.
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Functional theory suggests that each level of government expands in the arena in which it can best perform, reducing the price of federalism. Focusing on the functional pattern of American federalism, we suggest that increased federal welfare spending increases state government performance in the “new economy” development policy areas by helping states minimize welfare costs and divert more own-source resources into economic development. The central focus is on the direct and indirect empirical relationships between federal welfare spending and state new economy performance. The authors use an index of innovation capacity that reflects the cumulative performance of a myriad of overlapping and mutually dependent state policies intended to bring about new economy development; this index measures state new economy development performance by focusing on the observable outputs of such polices rather than the adoption, implementation, or substance of individual policy choices. Mediating variables, such as state fiscal comfort and administrative capacity, measure the indirect impact of federal welfare spending on state new economy performance. The authors find that federal welfare spending stimulates state new economy development directly, but also indirectly through its positive impact on both state fiscal comfort and administrative capacity. The findings suggest that federal intergovernmental transfers continue to be an important policy mechanism with spillover effects for state economies.
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Chowdhury, Mohammad Munayem. « TAX INCENTIVES AND INDUSTRIAL DEVELOPMENT IN BANGLADESH : AN EVALUATION OF POLICY IMPACT ON SECTORAL GROWTH ». International Journal of Research -GRANTHAALAYAH 7, no 7 (31 juillet 2019) : 321–30. http://dx.doi.org/10.29121/granthaalayah.v7.i7.2019.770.
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Tax incentives are tools used worldwide to enhance domestic and foreign investment and enhanced investment leads to expected economic growth. This study is an attempt to review the industrial policies and direct tax incentives of Bangladesh to have a deep insight on the congruence among them and also show some indirect impact of tax incentives on development through analyzing some fiscal and investment data. Content and document analysis method has been used to accomplish this study. Sources of data were the industrial policies, tax codes and economic surveys of Bangladesh and some scholarly articles. By reviewing some tax related aspects of industrial polices and existing direct tax incentives provided by the tax authority, it was found that incentives suggested by industrial policies and actually provided tax incentives are almost same and the changing pattern of priority sectors have been shifted to infrastructure, power and technology sectors. By observing some investment and GDP related data it is found that local private sector investments are dominant over FDI and the manufacturing sectors contribution to GDP are increasing and consistent in last 13 years.
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Nasir, Zafar Mueen, et Arshad Hassan. « Economic Freedom, Exchange Rates Stability and FDI in South Asia. » Pakistan Development Review 50, no 4II (1 décembre 2011) : 423–33. http://dx.doi.org/10.30541/v50i4iipp.423-433.
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This study empirically examines the role of economic freedom, market size and exchange rates in attracting foreign direct investment in south Asian countries for the period 1995-2008 by employing panel data analysis in fixed effect setting. Results clearly indicate the presence of significant positive relationship between economic freedom and FDI inflows in South Asian countries during the period of study. The real effective exchange rate was having negative association with it indicating that depreciation in host country currency negatively influences the inflow of FDI to that country. Therefore, monetary policy should focus on providing stability to currencies of host countries. The model explains approximately 90 percent of total variation in FDI. The paper concludes that South Asian countries should make concerted efforts in devising polices that improve level of economic freedom. In other words, they should provide more investment friendly climate, trade openness, efficient monetary and fiscal policies and freedom from corruption. This can help to attract more foreign direct investment in the South Asian countries.
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Ganem, Roseli Senna, José Augusto Drummond et José Luiz de Aandrade Franco. « Conservation polices and control of habitat fragmentation in the Brazilian Cerrado biome ». Ambiente & ; Sociedade 16, no 3 (septembre 2013) : 99–118. http://dx.doi.org/10.1590/s1414-753x2013000300007.
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The Brazilian Cerrado is the most bio-diverse and threatened savannah on the planet. This biome has already lost 48.2 percent of its original floral cover and is being affected by an intense process of habitat fragmentation. The purpose of this article is to verify if and how governmental and non-governmental conservation measures are protecting the remaining native Cerrado vegetation and whether these measures are encouraging connectivity. Results show that the effects of conservation units are limited, since only 3.1 percent of the biome is within fully protected areas. It was also found that public agencies are much more involved in conservation planning than actions in the field. Conservation projects are often implemented in the same territories, leading to the squandering of resources and ineffective results. Another problem is that many projects are dependent on international organizations and resources. Conservation initiatives in areas under private ownership are rare and economic or fiscal incentives that support such initiatives are sporadic and inadequate. The article concludes by suggesting that the Cerrado should become the focus of specific conservation policies, integrating governments, civil society and economic sectors and actors, especially farmers.
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Harwit, Eric. « Building China's Telecommunications Network : Industrial Policy and the Role of Chinese State-Owned, Foreign and Private Domestic Enterprises ». China Quarterly 190 (juin 2007) : 311–32. http://dx.doi.org/10.1017/s030574100700121x.
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AbstractThis article uses theories of industrial policy to analyse the growth of China's telecommunications equipment industry over the past 20 years. It highlights the role of the Chinese government in shaping the sector, by first utilizing imported equipment, then promoting Sino-foreign joint ventures and finally fostering domestic companies. Significantly, the government encouraged market competition, and avoided the pitfall of monopoly state control. Today, key telecommunications players include joint ventures, state-owned companies and even a major Chinese private corporation. The article concludes that the government's fiscal and regulatory industrial polices were successful, in that they rapidly built a modern communications network while promoting a vibrant free-market competitive environment.
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Duca, John V. « The Great Depression versus the Great Recession in the U.S. : How fiscal, monetary, and financial polices compare ». Journal of Economic Dynamics and Control 81 (août 2017) : 50–64. http://dx.doi.org/10.1016/j.jedc.2017.05.008.
Texte intégral
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Dodig, Nina, et Hansjörg Herr. « Current account imbalances in the EMU : An assessment of official policy responses ». Panoeconomicus 62, no 2 (2015) : 193–216. http://dx.doi.org/10.2298/pan1502193d.
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To handle the sovereign debt crisis in general and macroeconomic imbalances in particular the leading EU institutions and the Troika (European Central Bank, European Commission and International Monetary Fund) adopted two broad approaches: The short-term approach is based on enhancing the Stability and Growth Pact and to impose fiscal austerity on crisis countries. The medium- to long-term strategy consists of internal devaluation via reducing wage costs. Both approaches were combined with structural adjustment programs in the spirit of the Washington Consensus. The Troika?s policy implies an asymmetric adjustment process burdening only crisis countries. It led to the shrinking of demand and output in crisis countries comparable to the Great Depression and brought the European Monetary Union to the edge of deflation. These polices must be judged as mislead increasing the risk of Japanese disease with more than one lost decade.
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Shahbaz, Muhammad, Khalil Ahmad et A. R. Chaudhary. « Economic Growth and Its Determinants in Pakistan ». Pakistan Development Review 47, no 4II (1 décembre 2008) : 471–86. http://dx.doi.org/10.30541/v47i4iipp.471-486.
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Economically developed countries have been able to reduce their poverty level, strengthen their social and political institutions, improve their quality of life, preserve natural environments and achieve political stability [Barro (1996); Easterly (1999); Dollar and Kraay (2002a); Fajnzylber, Lederman, et al. (2002)]. After the World War II, most of the countries adopted aggressive economic policies to improve the growth rate of real gross domestic product (GDP). The neoclassical growth models imply that during the evolution between steady states; technology, exogenous rate of savings, population growth and technical progress generate higher growth levels [Solow (1956)]. Endogenous growth model developed by Romer (1986) and Lucas (1988) argue that permanent increase in growth rate depends on the assumption of constant and increasing returns to capital.1 Similarly, Barro and Lee (1994) investigate the empirical association between human capital and economic growth. They seem to support endogenous growth model by Romer (1990) that highlight the role of human capital in economic activity. Fischer (1993) argues that long-term growth is negatively linked with inflation and positively correlated with better fiscal performance and factual foreign exchange markets. In the context of developing countries, investment both in capital and human capital, labour force, ability to adapt technological changes, open trade polices and low inflation are necessary for economic growth.
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Deng, Yanhua, Kevin J. O'Brien et Jiajian Chen. « Enthusiastic Policy Implementation and its Aftermath : The Sudden Expansion and Contraction of China's Microfinance for Women Programme ». China Quarterly 234 (15 mars 2018) : 506–26. http://dx.doi.org/10.1017/s0305741018000425.
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AbstractMany China scholars have explored shirking by local officials and “effective implementation,” but fewer have examined polices that are implemented with great enthusiasm. The Microfinance for Women Programme fits in this last category. Especially in Sichuan, targets for lending were set by the province, exceeded, raised by cities and counties, and then exceeded again. The immediate reason that lending took off in 2012 was the relaxation of collateral requirements that shifted the risk of defaults away from local authorities. But the surge in lending also had deeper roots in the policy's vagueness, institutional incentives, bureaucratic pressure, and local fiscal and organizational interests. Although enthusiastic implementation occurred (and generated much-needed revenues for local governments), the history of the programme also shows that it can be halted, as was the case when instability loomed and the authorities reversed bureaucratic pressure by calling for local cost-sharing and introducing uncertainty over whether interest subsidies would continue.
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Ruiz Estrada, Mario Arturo. « COVID-19 : Economic Recession or Depression ? » Estudios económicos 37, no 75 (24 août 2020) : 139–47. http://dx.doi.org/10.52292/j.estudecon.2020.1983.
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This paper is interested to introduce a new macroeconomic indicator to evaluate the impact of any massive pandemic such as COVID-19 on the world economy performance in the short run (1 year) and long run (10 years). The new macroeconomic indicator is entitled “The Economic Uncontrolled Desgrowth from COVID-19 (-δCOVID-19).” In fact, the new macroeconomic indicator assumes that always COVID-19 is going to be the major factor to generate a large economic leakage on the final GDP formation anytime and anywhere. Additionally, the same paper is willing to evaluate two post-COVID-19 possible scenarios. The first scenario: if COVID-19 is going to generate a short economic recession, then the world economy gross domestic product can delay between two and three years. The second scenario: if COVID-19 is going to produce a large economic depression, then the world economy gross domestic product can take easily between five and ten years such as the case of the world great depression of 1928. From now, the economists need to decide between two possible choices to solve these two types of economic crisis (recession or depression): The first choice is the uses of the classical economic policies –fiscal or monetary- from past experiences (Keynesians and Monetarists). The second choice is the creation of new and innovative polices approaches to reduce the COVID-19 damage under the support of new theoretical and methodological approaches.
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Ngaruiya, Margaret, et Dr Amos Njuguna. « INFLUENCE OF INFLATION ON BOND PRICES : A SURVEY OF BONDS LISTED AT THE NAIROBI SECURITIES ». American Journal of Economics 1, no 2 (17 janvier 2017) : 50–63. http://dx.doi.org/10.47672/aje.137.
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Purpose: The purpose of this study was to establish the influence of inflation on bond price.Methodology: The research used an explanatory research design. 65 bonds listed in 23 categories at the NSE. The study used secondary data collected from NSE and the (KNBS) Kenya National Bureau of Statistics. A sample of 10 bonds was selected as these bonds were issued in the January 2008 and were still not mature by the 31st December 2012. Standard deviations were calculated for all the variables in the study. Further statistical analysis was carried out by use of correlation and regression analysis where bond prices were regressed against inflation, exchange rates and economic growth measured using the Kenya’s Gross Domestic Product growth. The Statistical Package for Social Sciences (SPSS) version 17 was used to conduct the analysis. The findings were presented in form of tables and figures.Results: The study found out that inflation had negative and significant relationship on the bond prices.Unique contribution to theory, practice and policy: This study recommends that investors who are looking to buy into bonds should factor in inflation as this determines the bond prices. Since inflation has a negative impact on bond prices, the government policy making organ mandated with the control of inflation should pursue measures to reduce the inflation rate. These measures should include monetary policies such as reduce the interest rates, open market operations geared at reducing the amount of money supply in the economy. The government may also pursue contractionary fiscal policy aimed at reducing inflation. These polices would include reducing government spending.
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Chen, Yihui, Minjie Li et Assem Abu Hatab. « A spatiotemporal analysis of comparative advantage in tea production in China ». Agricultural Economics (Zemědělská ekonomika) 66, No. 12 (26 décembre 2020) : 550–61. http://dx.doi.org/10.17221/85/2020-agricecon.
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Tea is one of the most important cash crops and widely consumed beverages worldwide and plays a significant role in rural development, poverty reduction, and food security in many developing countries. Nevertheless, very few empirical studies have analysed the comparative advantage of the tea industry in developing countries. Taking Fujian Province, China, as the object of a case study, we carried out a spatiotemporal analysis of the determinants of the tea industry's revealed comparative advantage (RCA) during the period 2010–2018. The empirical analysis relied on a calculation of RCA and an estimation of a geographically and temporally weighted regression (GTWR) using data from 67 counties in Fujian. The results confirmed that the effect and significance of RCA determinants vary considerably across different spatial areas and over time. With the exception of ‘disposable income', all other determinants had a positive and statistically significant effect on a region's RCA in the tea industry. Specifically, the results indicated that regional specialisation had the strongest positive effect on tea competitiveness. Local governments' sectoral strategies and institutional policies were essential elements in building and maintaining regional tea competitiveness. Infrastructure development, which traditionally went hand-in-hand with urbanisation processes, had a significant impact on tea competitiveness. These findings imply that competitiveness of the tea sector can be improved by adopting local polices that support producers and processors through fiscal investment, technology provision, and capacity building as well as measures to improve rural road infrastructure and link small farmers to other actors along tea supply chains.
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Rusdiyantoro, Imam, et Robert A. Simanjuntak. « Kesinambungan Fiskal Indonesia Pada Masa Pandemi Covid-19 ». Jurnal Pajak dan Keuangan Negara (PKN) 4, no 1 (31 août 2022) : 20–29. http://dx.doi.org/10.31092/jpkn.v4i1.1706.
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Indonesia's fiscal sustainability faces major challenges in efforts to reduce the negative impact of the Covid-19 crisis on the Indonesian economy. Using the fiscal reaction function, this study attempts to measure Indonesia's fiscal sustainability in the face of the crisis caused by the Covid-19 pandemic. Empirically, based on data from 1980-2021 and using OLS (Newey-West HAC) indicate that Indonesia's fiscal sustainability is maintained. The Government has strong and positive reaction to maintained fiscal sustainability which is reflected in the primary balance during the period of study. Countercyclical policies through expansionary fiscal policies during the Covid-19 crisis are indicated to have a negative effect on Indonesia's fiscal. For that, a strong and consistent primary balance surplus response is needed in the next few years to create fiscal space. This is important for Indonesia's fiscal policy to deal with shocks that may occur due to the ongoing global economic uncertainty.
Kesinambungan fiskal Indonesia menghadapi tantangan besar dalam upaya mengurangi dampak negatif krisis Covid-19 terhadap perekonomian Indonesia. Studi ini dilakukan untuk mengukur kesinambungan fiskal Indonesia pada masa krisis Covid-19 menggunakan model fiscal reaction function. Berdasarkan data periode tahun 1980 sampai 2021, hasil estimasi yang dilakukan secara empiris dengan menggunakan OLS (Newey-West HAC) mengindikasikan bahwa fiskal Indonesia tetap terjaga kesinambungannya. Kondisi tersebut dibuktikan dengan reaksi fiskal yang positif dan kuat yang dilakukan oleh Pemerintah selama periode penelitian. Kebijakan countercyclical melalui kebijakan fiskal yang ekspansif pada masa krisis Covid-19 diindikasikan memberikan efek negatif pada fiskal Indonesia. Untuk itu, diperlukan respon surplus primary balance yang kuat dan konsisten dalam beberapa tahun ke depan untuk menciptakan ruang fiskal. Hal tersebut penting dilakukan dalam menghadapi shock yang mungkin terjadi akibat ketidakpastian ekonomi global yang masih berjalan.
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Zahid, Mohammed. « Egyptian reforms post-2005 and the politics of succession : implications and consequences for the future Egyptian reform process ». Contemporary Arab Affairs 1, no 3 (1 juillet 2008) : 375–89. http://dx.doi.org/10.1080/17550910802163848.
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Egyptian economic reforms have been an on-going process since the Egyptian government adopted liberal market reforms in 1991 (Kienle 2001, 2004), influenced by a number of internal socio-economic factors, including growing levels of poverty, heightened inflation, high levels of corruption and rising levels of unemployment, in particular among new university graduates. These factors were exerting heavy pressure on a highly bureaucratic and inefficient state (Bayat 1997). However, the ensuing economic reforms resulted in tightened fiscal and monetary polices, and a subsequent increased and heightened socio-economic crisis in Egypt, which the Egyptian government attempted to control by imposing increasingly authoritarian measures, with political de-liberalization evident in both urban and rural areas (Kienle 2001). This led, at the turn of the millennium, to a period of failed economic reforms and increased levels of authoritarianism, which coincided with the political rise of the president's son, Gamal Mubarak, whose economic and business credentials have led to optimism concerning the possibility of future reform and change in Egypt. This paper examines the electoral promises made by Hosni Mubarak in the 2005 presidential elections and the ensuing economic and political implications for the political succession in Egypt, leading to conclusions about the future processes of economic and political reform in Egypt and the impact upon them of the political succession
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Yan, Xiangqi, Hanbing Tuo et Yani Lai. « A Two-Way Fixed Effects Estimation on the Impact of Industrial Land Supply on Environmental Pollution in Urban China ». International Journal of Environmental Research and Public Health 19, no 22 (12 novembre 2022) : 14890. http://dx.doi.org/10.3390/ijerph192214890.
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Despite the great economic growth and fast urbanization process in the past four decades, China is now suffering severely from environmental pollution. Local governments’ industrial land supply behaviors have a great impact on local investment, economic growth, and environmental pollution, which has not been effectively evaluated. To fill this gap, this paper quantitatively investigates the impact of industrial land supply by local governments on environmental pollution based on a two-way fixed effects model. A comprehensive and reliable data set for 277 Chinese prefecture-level cities from 2009 to 2017 has been collected for analysis. The findings suggest that the increase of the ratio of industrial and mining storage land to total land supply significantly increases the concentration of PM2.5. The results remain significant and robust after a series of robustness tests. The negative impacts on environmental quality caused by differences in land supply behavior are greater in the central and western regions. We further explored intermediate mechanisms for the environmental impact of local governments’ allocations of industrial land. The findings suggest that greater industrial land transfer by local governments leads to an expansion in the scale of regional secondary industry and increases in local fiscal deficit. Unbalanced industrial development, insufficient corporate innovation, and insufficient investment in environmental protection will increase pollution. This study provides a reference for improving regulatory measures on land transactions and for formulating regional polices for environmental protection.
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Ondiek, Samson Okoth, et Dr Ongoro. « FACTORS DETERMINING STOCK MARKET RETURNS : CASE OF NAIROBI STOCK EXCHANGE ». International Journal of Finance and Accounting 1, no 1 (13 octobre 2016) : 108. http://dx.doi.org/10.47604/ijfa.122.
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AbstractPurpose: The study attempts to establish if the changing macroeconomic factors and the industry variables can predict the variation on the Nairobi Security Exchange stocks return Methodology: It adopted a regression model that related stock returns to various selected macro and micro economic factors and used data of 20 companies that constitute the NSE index. The study used monthly data spanning the year 2006 to 2010.Results: The regression results indicate that, four of the variables i.e. market return (NSEI), exchange rate for US/KSH, market to book value ratio have a positive and significant relationship with an individual company stock market returns. Risk Free rate (91 Treasury bill rate) also had a positive and significant relationship while industrial growth opportunity and inflation were found to be negative and significant. leverage on the other hand was found to be insignificant and therefore does not influence individual company stock market returns. Unique contribution to theory, practice and policy: These findings will have significant effects on investors’ investment decisions making as well as the Government and the capital markets authority (CMA) in the formulation of polices and guidelines. Once factor betas are estimated, we can describe the expected change in security returns with respect to changes in a given factor and thus giving the investors, CMA and the Government a better understanding on the effect of a change in the fiscal and monetary policies in the stock market. This is crucial to the Government as it seeks to promote the capital market as a source of alternative funding for economic growth. Investors wishing to construct portfolios should also consider the trends of the inflation rates, exchange rates, market to book value ratio, industrial production and the stock market. The rise of either of this micro and macroeconomic indicators may influence the returns positively or negatively and hence the investor may choose the best time to either buy or sell their securities
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Vdovychenko, Artem. « Fiscal Policy Reaction Function and Sustainability of Fiscal Policy in Ukraine ». Visnyk of the National Bank of Ukraine, no 240 (25 juin 2017) : 22–35. http://dx.doi.org/10.26531/vnbu2017.240.022.
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This study analyzes the fiscal policy reaction function with switching regimes. We use Logistic Smooth Transition Regressions (LSTR) to show that fiscal policy in Ukraine during the study period remained largely in passive mode, switching to active mode during periods of a high output gap and elevated debt-to-GDP ratio. An important finding is that the fiscal policy reaction function is nonlinear. Specifically, the response of fiscal policy to the output gap is asymmetric: fiscal policy is pro-cyclical during periods of economic growth but neutral in recession.
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Curto, Rocco, Alice Barreca, Giorgia Malavasi et Diana Rolando. « Fiscal inequality and social (in)justice : evidence from the real estate market in Turin ». Valori e Valutazioni 34 (novembre 2023) : 17–34. http://dx.doi.org/10.48264/vvsiev-20233403.
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The Italian government cyclically debates the critical issues related to property taxation, which for many years needs to be reformed due to the high fiscal inequality level that currently generates. This paper aims to analyze Italian fiscal inequality by exploring its spread within different urban zones of a city. A three-step methodological approach is proposed and applied to the city of Turin in the northern part of Italy. An extensive data sampling from 2021 real estate advertisements provides the basis for calculating cadastral values and four innovative fiscal inequality indicators. Descriptive statistics and spatial analyses are performed to study the relations between property prices and cadastral values, as well as to highlight the fiscal inequality level in relation to the real estate market. Findings show that current cadastral values are not related to property prices and that the fiscal inequality level is significant in most of the analyzed urban zones. These criticalities are due to a series of issues that confirm the urgency of the Italian Cadastre reform for its important consequences on property taxation. Particular attention is paid to the attribution, often incorrect, of the cadastral categories, and the possibility of redefining the property tax rates for calculating the IMU tax. Results, in fact, highlight that a random relationship between property tax rates and property prices exists and confirm that redistributive policies are necessary in the Italian context. The results of this research can be shared and discussed with the Agenzia delle Entrate and local authorities to be used to debate the territorial polarization between weak, degraded urban zones with limited services, and prestigious ones. The proposed methodological approach can be further developed and tested in other urban or rural contexts to really support local authorities to reduce the currently high fiscal inequality levels, the territorial and socio-economic injustices and to invest in new urban redevelopment strategies and thus foster territorial welfare. Il governo italiano affronta ciclicamente criticità legate alla tassazione immobiliare, che da tempo necessita di essere riformata a causa dell’elevato livello di iniquità fiscale che genera. Questo articolo ha l’obiettivo di analizzare l’iniquità fiscale italiana esplorando la sua diffusione all’interno delle diverse zone urbane della città di Torino, nel Nord Italia, assunta quale caso studio. Un approccio metodologico strutturato in tre fasi viene illustrato e applicato su un campione di dati di annunci immobiliari del 2021, costituito per l’analisi dei valori catastali e per il calcolo di quattro indicatori di iniquità fiscale innovativi. Sono proposte statistiche descrittive e analisi spaziali al fine di studiare le relazioni tra i prezzi immobiliari e i valori catastali, nonché per evidenziare il livello di iniquità fiscale in relazione al mercato immobiliare. I risultati mostrano che i valori catastali attuali non sono correlati ai prezzi degli immobili e che il livello di iniquità fiscale è significativo nella maggior parte delle zone urbane analizzate. Queste criticità sono dovute a una serie di questioni che confermano l’urgenza della riforma del Catasto italiano per le sue importanti conseguenze sulla tassazione immobiliare. In particolare, si evidenzia l’attribuzione, spesso scorretta, delle categorie catastali e la necessità di ridefinire le aliquote fiscali per il calcolo dell’IMU. I risultati, infatti, evidenziano l’esistenza di una relazione casuale tra le aliquote fiscali e i prezzi degli immobili e confermano la necessità di attuare politiche redistributive nel contesto italiano. I risultati di questa ricerca possono essere condivisi e discussi con l’Agenzia delle Entrate e le autorità locali per essere utilizzati nel dibattito sulla polarizzazione territoriale tra zone urbane deboli, degradate, con servizi limitati, e zone prestigiose, accessibili e attrattive. L’approccio metodologico proposto potrà essere ulteriormente sviluppato e testato in altri contesti urbani o rurali per sostenere davvero le autorità locali nella riduzione degli attuali elevati livelli di iniquità fiscale, delle ingiustizie territoriali e socio-economiche e per investire in nuove strategie di riqualificazione urbana e promuovere un maggiore welfare territoriale.
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Arham, Muhammad Amir. « Kebijakan Desentralisasi Fiskal, Pergeseran Sektoral, dan Ketimpangan Antarkabupaten/Kota di Sulawesi Tengah ». Jurnal Ekonomi dan Pembangunan Indonesia 14, no 2 (1 janvier 2014) : 145–67. http://dx.doi.org/10.21002/jepi.v14i2.437.
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AbstractFiscal decentralization can create eficiency and effectiveness to promote growth and change in economic structures as well as to reduce inequalities amongst regions. This study intends to find out whether the fiscal decentralization policies during 2001-2010 contribute to the shift of economic sectors and inequality rates amongst districts/municipalities in the Province of Central Sulawesi. By using econometrics of panel data, the study found that fiscal decentralization supports a shift in the economic sector where the role of primary sector gradually decreased and the secondary and tertiary sector tend to be increased since the implementation of regional autonomy. As a result, the fiscal decentralization creates an economic change in Central Sulawesi, while at the same time, can inevitably generates higher economic inequality amongst regencies/municipalities in the region.Keywords: Fiscal Decentralization, Sectoral Shifts, Inequality AbstrakDesentralisasi skal dapat menciptakan esiensi dan efektivitas untuk mendorong pertumbuhan dan perubahan struktur ekonomi, serta mengurangi ketimpangan antardaerah. Studi ini ingin mengetahui pengaruh kebijakan desentralisasi fiskal terhadap pergeseran sektor dan ketimpangan antarkabupaten/kota di Provinsi Sulawesi Tengah. Dengan menggunakan metode ekonometrika melalui persamaan data panel pada periode tahun 2001-2010, studi ini menemukan bahwa kebijakan desentralisasi fiskal dapat mendorong pergeseran sektor, di mana peranan sektor primer kecenderungannya makin menurun, sehingga berakibat pada peningkatan peranan sektor sekunder dan tersier selama pelaksanaan otonomi daerah, dengan demikian kebijakan desentralisasi fiskal dapat menciptakan perubahan struktur ekonomi di Sulawesi Tengah. Kebijakan desentralisasi fiskal mendorong terjadinya peningkatan ketimpangan antara kabupaten/kota di Sulawesi Tengah selama periode studi.Kata kunci: Desentralisasi Fiskal, Pergeseran Sektoral, Ketimpangan
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Eromosele, Harrison Ogbeide, et David Umoru. « DO FISCAL AND MONETARY POLICIES COOPERATE OR CONFLICT WITH EACH OTHER IN NIGERIAN ECONOMY ? » SRIWIJAYA INTERNATIONAL JOURNAL OF DYNAMIC ECONOMICS AND BUSINESS 3, no 1 (26 mars 2019) : 15. http://dx.doi.org/10.29259/sijdeb.v3i1.15-30.
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The determination for this study was to ascertain if fiscal and monetary policies are cooperating or rather conflicting with each other in Nigerian economy. Government disbursement and growth of money stock were used to denote fiscal and monetary policy variables. Two reduced form equations of monetary and fiscal policies were specified from underlying structural model. This yielded fourteen RF parameters in contrast to eleven structural parameters and so we had system of over-identification. These prompted use of IV estimators such as GMM and 3SLS. Estimates show similar findings for both estimators as we found evidence that fiscal policy does not respond favourably to monetary policy as monetary policy was found to have an insignificant effect on the fiscal policy. More so, fiscal policy does not respond to lag effect of monetary policy. Relatively, monetary policy responds favourably to fiscal policy. The lag effect of money supply was also found to have a significant impact on money supply. Empirical finding so upholds that Nigerian economy is fiscally overriding notwithstanding money being an integral part of all macroeconomic variables. Significance of lag effects of both fiscal and monetary policy is reflection that implementation process of both policies is excessively time overshadowing. Consequently, there is need for building well-organized units of fiscal and monetary authorities that can accelerate implementation process of these policies.
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Yunanto, Muhamad, et Henny Medyawati. « Fiscal Policy and Monetary Policy : Sensitivity Analysis ». International Journal of Trade, Economics and Finance 6, no 2 (avril 2015) : 79–84. http://dx.doi.org/10.7763/ijtef.2015.v6.447.
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Girón, Alicia, et Eugenia Correa. « Fiscal Stimulus, Fiscal Policies, and Financial Instability ». Journal of Economic Issues 55, no 2 (3 avril 2021) : 552–58. http://dx.doi.org/10.1080/00213624.2021.1915083.
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Chugunov, Igor Yakovych, et Mykola Dmytrovych Pasichnyi. « FISCAL POLICY FOR ECONOMIC DEVELOPMENT ». SCIENTIFIC BULLETIN OF POLISSIA 1, no 1(13) (2018) : 54–61. http://dx.doi.org/10.25140/2410-9576-2018-1-1(13)-54-61.
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Vonasek, Joseph, et Robert Lee. « Police and Fire Pensions in Florida : A Comparison of Conditions After 10 Years ». Compensation & ; Benefits Review 53, no 4 (5 avril 2021) : 159–74. http://dx.doi.org/10.1177/0886368721999137.
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This article is an analysis of 31 defined benefit police and fire pension plans of 20 municipalities in Florida. The authors conducted a similar assessment of these same plans ten years earlier to determine the fiscal impact of these plans due to state mandates that accompany state funding for each of these plans. The current study analyzes key measures of fiscal health over the last ten years for these same plans to ascertain whether the fiscal condition of these plans remained constant, that is, whether underfunded plans continued to be questionably managed and whether well-funded plans continued to be fiscally stable considering economic trends and the lessening of state mandates on the use of state funding for these plans. The findings show that the overwhelming majority of the plans neither significantly changed their financial condition nor their general ranking among the plans evaluated.
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Li, Lina, Nannan Liu et Xiaoping Zheng. « Does the Province-Managing-County Reform Promote the Growth of County Finance and Economy in China ? An Empirical Case Study on Henan Province ». Public Finance and Management 16, no 1 (mars 2016) : 25–50. http://dx.doi.org/10.1177/152397211601600103.
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There are two major models in China's Province-Managing-County (PMC) reform: the Province-Fiscally-Managing-County (PFMC) and the Power-Expanding-County (PEC). This paper is intended to compare the fiscal and economic effects of these two reform models based on their different categories of reform policies—fiscal decentralization policies and economic empowerment policies. By taking Henan's PMC reform as an empirical case study, we find that a) Henan's PFMC reform did not contribute to the growth of county economy through a series of economic empowerment policies and exclusively fiscal decentralization policies, though it promoted the increase in transfer revenue at the county level. b) By contrast, Henan's PEC reform through only economic empowerment policies did not contribute to county's growth of transfer incomes, but it significantly promoted the growth of county economy with an annual downward trend. The further analyses on these findings show that the expansion of economic autonomy by the economic empowerment is the key positive factor to the growth of county economy in the PEC reform, while the moral hazard caused by the fiscal decentralization is the major negative factor holding back the economic effect of the PFMC reform. Therefore, this throws out a hint that the improvement of economic autonomy in county governments will be a right and effective approach to promote the sustainable development of county economy, though it should be further examined in the future research.
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Pausiyanti, Hardilah. « Analisis Perspektif Pemikiran Muhammad Abdul Mannan Tentang Kebijakan Fiskal Islam ». Rayah Al-Islam 8, no 1 (28 février 2024) : 32–42. http://dx.doi.org/10.37274/rais.v8i1.909.
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Muhammad Abdul Mannan salah satu pakar ekonom muslim kontemporer yang memiliki ide-ide teori ekonomi Islam yang cukup komprehensif yaitu sebuah ekokomi yang berpijak di atas petunjuk Syariat Islam dengan berpedoman pada Al-Qur’an, Sunnah, Hadis Nabi, Ijma’/Konsensus Ulama dan Qiyas atau Ijtihad. Dalam menganalisis pendapatnya timbul pendapat yang menyatakan dimana dalam ekonomi kontemporer saat ini konsep kebijakan fiskal masih ada masalah yang belum selesai sehingga belum dapat berjalan sesuai dengan yang diharapkan. Dengan demikian diperlukan lebih jauh mengupas gambaran tentang kebijakan-kebijakan fiskal. Dalam perekonomian Islam di era Rasulullah SAW. Pada penelitian ini akan membahas tentang bagaimana pemikiran Mannan mengenai kebijakan fiskal dalam ekonomi yang berlandaskan Islam? Apakah ada pemikiran Mannan yang diimplementasikan, jika dikaitkan dengan kebijakan fiskal yang ada di Indonesia?. Tujuan dari penulisan ini yaitu untuk mengetahui pendapat M. Abdul Mannan mengenai apa yang disebut kebijakan fiskal atau sistem pengeluaran dan pendapatan negara yang berlandaskan Islam yang mana mengarah pada lebih jauh kemajuan umat manusia dengan berlandaskan penyebaran pembangunan yang merata, bisa juga dikatakan dengan mengacu pada hal-hal yang bersifat duniawi dan akhirat dikedudukan yang setara.
Muhammad Abdul Mannan, one of the contemporary Muslim economists who has quite comprehensive ideas of Islamic economic theory, namely an economic economist that is based on the guidance of Islamic Shari'a based on the Al-Qur'an, Sunnah, Hadith of the Prophet, Ijma'/Ulama Consensus and Qiyas or Ijtihad. In analyzing his opinion, an opinion emerged stating that in today's contemporary economy the concept of fiscal policy still has unfinished problems so that it cannot run as expected. Thus it is necessary to further explore the description of fiscal policies. In Islamic Economics in the era of Rasulullah SAW. In this study, we will discuss how Mannan thinks about fiscal policy in an Islamic-based economy? Is there Mannan's thought that is implemented, if it is related to the existing fiscal policy in Indonesia? The purpose of this paper is to find out M. Abdul Mannan's opinion regarding the so-called fiscal policy or a system of state expenditure and income based on Islam which leads to further human progress based on an equitable distribution of development, it can also be said with reference to things that are worldly and hereafter in an equal position.
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Mishchenko, Svitlana, Svitlana Naumenkova, Volodymyr Mishchenko, Viktor Ivanov et Roman Lysenko. « Growing discoordination between monetary and fiscal policies in Ukraine ». Banks and Bank Systems 14, no 2 (14 mai 2019) : 40–49. http://dx.doi.org/10.21511/bbs.14(2).2019.04.
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The slowdown in economic development caused by the reduction in the efficiency of the functioning of state institutions determined the focus of the governments of most countries of the world on achieving sustainable economic growth, as well as ensuring macroeconomic and macrofinancial stability. A major issue that is dealt with is the weakening of the interaction of monetary and fiscal policies in Ukraine. It can be assumed that one of the reasons hindering economic growth is growing discoordination between monetary and fiscal policies. The purpose of this study is to assess the nature of monetary and fiscal policies in Ukraine in 2000–2017 and justify the need for coordination between them to stimulate economic growth. For the quantitative assessment of the influence of monetary and fiscal factors on GDP, the models of autoregression with distributed lags – ARDL are used. The analysis makes it possible to distinguish and characterize three stages of combining the rigid and stimulating monetary and fiscal policy in Ukraine in 2000–2017. The article examines the influence of the dynamics of the monetary aggregate M3, the inflation rate and the weighted average base interest rate on the growth rates of real GDP in Ukraine, the impact of using the “monetary clamp” effect on the increase in the NBU’s interest rate, and the direct effect of monetary factors on the fiscal policy. The authors conclude that the inconsistency of monetary and fiscal policies is one of the reasons for the high volatility of macroeconomic indicators. The article substantiates the conclusion that it is necessary to overcome the increasing antagonism between monetary and fiscal policies in Ukraine and to strengthen their coordination.
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Luna, Paulo Henrique Lourenço. « Uma análise dos efeitos econômicos das políticas fiscais discricionárias / An analysis of the economic effects of discretionary fiscal policies ». Brazilian Journal of Business 3, no 4 (16 août 2021) : 2851–60. http://dx.doi.org/10.34140/bjbv3n4-007.
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Com o intuito de trazer contribuições para a literatura econômica, o presente estudo tem como objetivo principal reunir os resultados apresentados por diversos trabalhos no que diz respeito aos efeitos da política fiscal discricionária sobre as economias de diferentes países. Ademais, o estudo busca reunir evidências apontando que quanto maior for o uso de políticas fiscais discricionárias, maior será o resultado negativo para a dívida pública desses países. Ao analisar tais estudos, podemos observar que, no geral, os trabalhos verificam que a política fiscal discricionária traz resultados econômicos ambíguos, gera déficits excessivos, aumenta a dívida pública e provoca um aumento nas incertezas em relação ao futuro da economia.
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Luna, Paulo Henrique Lourenço. « Uma análise dos efeitos econômicos das políticas fiscais discricionárias / An analysis of the economic effects of discretionary fiscal policies ». Brazilian Journal of Business 3, no 4 (16 août 2021) : 2851–60. http://dx.doi.org/10.34140/bjbv3n4-007.
Texte intégralRésumé :
Com o intuito de trazer contribuições para a literatura econômica, o presente estudo tem como objetivo principal reunir os resultados apresentados por diversos trabalhos no que diz respeito aos efeitos da política fiscal discricionária sobre as economias de diferentes países. Ademais, o estudo busca reunir evidências apontando que quanto maior for o uso de políticas fiscais discricionárias, maior será o resultado negativo para a dívida pública desses países. Ao analisar tais estudos, podemos observar que, no geral, os trabalhos verificam que a política fiscal discricionária traz resultados econômicos ambíguos, gera déficits excessivos, aumenta a dívida pública e provoca um aumento nas incertezas em relação ao futuro da economia.
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de Moraes e Soares, Ricardo, et Pedro Pinheiro. « Fiscal attractiveness of Portuguese municipalities ». Public and Municipal Finance 12, no 2 (19 juillet 2023) : 1–16. http://dx.doi.org/10.21511/pmf.12(2).2023.01.
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The modeling of the municipalities’ tax burden is one of the most relevant issues, especially in terms of municipal competitiveness. It challenges the definition and delimitation of local authorities’ taxing powers. This study aims to analyze the level of taxation of Portuguese municipalities and how local policies contribute to the definition of a ranking of fiscally more competitive municipalities. The paper applies quantitative methods based on the fiscal information made available by municipalities. It has been determined that it is possible to classify municipalities as more or less competitive through their tax supply, mainly at the level of their ability to set tax rates. In 2021, compared to 2020, the most fiscally competitive municipalities were located in the Autonomous Region of the Azores (Corvo (95.128%); Vila do Pico (95.128%); Madalena (95.128%); Povoação (95.078%); Santa Cruz das Flores (95.072%); Angra do Heroísmo (95.044%); Nordeste (95.036%); Vila Franca do Campo (95.036%); Horta (95.017%); and Ponta Delgada (95.017%)). The study also verified the maintenance of fiscal competitiveness among the most fiscally attractive municipalities, despite having several types of fiscal attraction policy options at their disposal, always conditioned by national legislation. This means fiscal policy is an instrument of competition for attracting companies, people, and productive investment to local municipalities. The existence of an international dogma favorable to the increasing attribution of administrative and financial autonomy to local authorities mainly supports this phenomenon.
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Dinarjito, Agung, et Almizar Dharmazi. « PENGARUH DESENTRALISASI FISKAL, INVESTASI, DAN INDEKS PEMBANGUNAN MANUSIA TERHADAP PERTUMBUHAN EKONOMI REGIONAL DI PROVINSI KALIMANTAN TIMUR ». Jurnal Pajak dan Keuangan Negara (PKN) 1, no 2 (27 mars 2020) : 57–72. http://dx.doi.org/10.31092/jpkn.v1i2.789.
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Economic growth can be influenced by several factors, including fiscal decentralization, government investment, and also the level of human development. Therefore, this study aims to analyze the effect of fiscal decentralization, investment and human development index on regional economic growth in the province of East Kalimantan. East Kalimantan Province is one of the biggest mining producers in Indonesia, but the economic growth is negative. This research is a quantitative descriptive study using linear regression analysis method. The conclusion from this study is that only the human development index significantly influences regional economic growth in East Kalimantan Province. The author hopes that this research will be able to encourage Local Governments to evaluate existing policies by focusing on human development, increasing the effectiveness of Government investment and overseeing the implementation of fiscal decentralization.Pertumbuhan ekonomi dapat dipengaruhi oleh beberapa faktor, antara lain desentralisasi fiskal, investasi pemerintah, dan juga tingkat pembangunan manusianya. oleh karena itu, penelitian ini bertujuan untuk menganalisisi pengaruh desentralisasi fiskal, investasi dan indeks pembangunan manusia terhadap pertumbuhan ekonomi regional di Provinsi Kalimantan Timur. Provinsi Kalimantan Timur merupakan salah satu penghasil tambang terbesar di Indonesia, namun pertumbuhan ekonominya secara rata-rata negatif. Penelitian ini merupakan penelitian kuantitatif deskriptif dengan menggunakan metode analisis regresi linier. Simpulan dari penelitian ini adalah bahwa hanya indeks pembangunan manusia yang secara signfikan mempengaruhi pertumbuhan ekonomi regional di Provinsi Kalimantan Timur. Penulis berharap agar penelitian ini mampu mendorong Pemerintah Daerah mengevaluasi kebijakan yang ada dengan memfokuskan pada pembangunan manusia, meningkatkan efektivitas investasi Pemerintah dan pengawasan pelaksanaan desentralisasi fiskal.
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Otsubo, Kansho Piotr. « The Effects of Fiscal and Monetary Policies in Japan : What Combination of Policies Should Be Used ? » Journal of International Commerce, Economics and Policy 09, no 01n02 (février 2018) : 1850004. http://dx.doi.org/10.1142/s1793993318500047.
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In this paper, we compare and analyze the differences in the effects of fiscal and monetary policy using time-varying parameter structural vector auto-regression (TVP-VAR). Specifically, we estimate a 5-variable TVP-VAR model using monthly data from March 2001 to August 2017. The estimation results indicated the following four points. First, expansionary fiscal policy can impact GDP faster than an expansionary monetary policy. Second, expansionary fiscal policy has lowered prices. Third, an expansionary monetary policy can increase GDP more persistently than an expansionary fiscal policy during unconventional monetary policy periods. Finally, expansionary monetary policy has raised prices. These estimation results reveal that if the Japanese government wants to strongly boost GDP alone, it should use fiscal policy alongside monetary policy because fiscal policy can immediately raise GDP. If the Japanese government seeks moderate increases in both GDP and prices, it is more effective to use monetary policy alone without increasing fiscal expenditure.
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Erceg, Christopher, Andrea Prestipino et Andrea Raffo. « Trade policies and fiscal devaluations ». International Finance Discussion Paper 2022, no 1347 (22 juin 2022) : 1–78. http://dx.doi.org/10.17016/ifdp.2022.1347.
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Fiscal devaluations—an increase in import tariffs and export subsidies (IX) or an increase in value-added taxes and payroll subsidies (VP)—have been shown to provide as much stimulus under fixed exchange rates as a currency devaluation. We find that if agents expect policies to be reversed and the tax pass-through is large, VP is contractionary and IX provides a modest boost. In our medium-scale DSGE model, both features are crucial in accounting for Germany’s underperformance in response to VP in 2007. These findings cast doubt on fiscal devaluations as a cyclical stabilization tool when monetary policy is constrained.
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Berkmen, Pelin. « Precautionary Monetary and Fiscal Policies ». IMF Working Papers 07, no 30 (2007) : 1. http://dx.doi.org/10.5089/9781451865943.001.
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Budina, N. « Fiscal policies in Eastern Europe ». Oxford Review of Economic Policy 13, no 2 (1 juin 1997) : 47–64. http://dx.doi.org/10.1093/oxrep/13.2.47.
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Hanssen, Jan-Inge, et Per Arnt Pettersen. « Conservative Mobilization and Fiscal Policies ». Scandinavian Political Studies 18, no 4 (décembre 1995) : 231–63. http://dx.doi.org/10.1111/j.1467-9477.1995.tb00163.x.
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Tanzi, Vito. « International Coordination of Fiscal Policies ». Journal of Public Policy 8, no 2 (avril 1988) : 111–24. http://dx.doi.org/10.1017/s0143814x00006942.
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ABSTRACTInternational coordination of macroeconomic policies has attracted much attention in recent years. The main issue has been whether economic performance can be improved by coordination. Although still a controversial issue, many economists have argued that coordination would make a positive contribution to economic performance. This paper deals with the requirements for successful fiscal coordination. It concludes that those requirements are such that the best fiscal policies that countries can pursue are those aimed at putting their house in order.
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Kobayashi, Keiichiro. « Fiscal consequences of inflationary policies ». Journal of the Japanese and International Economies 19, no 3 (septembre 2005) : 386–93. http://dx.doi.org/10.1016/j.jjie.2004.09.001.
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Croce, M. Max, Howard Kung, Thien T. Nguyen et Lukas Schmid. « Fiscal Policies and Asset Prices ». Review of Financial Studies 25, no 9 (25 avril 2012) : 2635–72. http://dx.doi.org/10.1093/rfs/hhs060.
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Rigoni, Gabriela, et José A. Stracquadaini. « Fiscal Policies for Gender Equality ». Journal of Infrastructure Policy and Management 5, no 1 (22 décembre 2022) : 23–29. http://dx.doi.org/10.35166/jipm.501.0022.
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Preventing economic distortions and providing for gender equality should be a main goal that could be achieved not only by promoting labor laws and ensuring welfare benefits, but also with the design of a tax-benefits system that could address those issues. A gender-sensitive tax-benefits system would become a permanent safeguard policy for gender issues, promoting gender inclusion.
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Erceg, Christopher, Andrea Prestipino et Andrea Raffo. « Trade Policies and Fiscal Devaluations ». American Economic Journal : Macroeconomics 15, no 4 (1 octobre 2023) : 104–40. http://dx.doi.org/10.1257/mac.20210163.
Texte intégralRésumé :
Fiscal devaluations—an increase in import tariffs and export subsidies (IX) or an increase in value-added taxes and payroll subsidies (VP)—have been shown to provide as much stimulus under fixed exchange rates as a currency devaluation. We find that if agents expect policies to be reversed and the tax pass-through is large, VP is contractionary and IX provides a modest boost. In our medium-scale DSGE model, both features are crucial in accounting for Germany’s underperformance in response to VP in 2007. These findings cast doubt on fiscal devaluations as a cyclical stabilization tool when monetary policy is constrained. (JEL E32, E52, E62, F13, F33, H20)
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Getzner, Michael. « Cultural Policies and Fiscal Federalism ». Public Finance and Management 4, no 1 (mars 2004) : 21–50. http://dx.doi.org/10.1177/152397210400400102.
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Fiscal federalism and public choice theories offer a number of approaches to explaining differences in public expenditure on cultural affairs. This paper empirically explores cultural expenditure in the nine federal provinces of Austria. the methodological set-up is a time-series panel data analysis for cultural expenditure from 1976 to 2002. A number of papers have shown that the main driving forces behind cultural expenditure are Baumol's cost disease and economic growth, and these results are also corroborated by the current study. Moreover, differences between the federal provinces do exist, implying that cultural policies are determined partly by local and regional circumstances. Arguments from recent public choice theories, such as the form of government (e.g. coalition governments) and economic business cycles, do not offer much explanation. However, variables capturing the ideology of policy makers and the sustainability of budgetary policies can explain some of the differences in cultural policies between Austrian provinces.
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Muttur Ranganathan, Narayana. « Universal social pension for elderly individuals in India ». Indian Growth and Development Review 10, no 2 (13 novembre 2017) : 89–116. http://dx.doi.org/10.1108/igdr-07-2017-0047.
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Purpose Population ageing, extended coverage of beneficiaries and rise in benefit levels of a public-funded universal social pension scheme (USPS) for elderly individuals may exert fiscal pressures on India’s General Government. Using accounting frameworks, this paper aims at an assessment of public expenditure requirements of USPS scenarios in the short term and their long-term implications for fiscal sustainability. Design/methodology/approach Short-term public expenditure requirements are quantified for the current pension scheme and proposed USPS scenarios, if pension benefits are adjustable for official poverty line, per capita income, the inflation rate and income elasticity of public pension expenditure. Long-term fiscal sustainability is determined by the methodology of generational accounting. Findings Public expenditure requirements for the USPS scenarios are remarkably higher as compared to the current expenditure on the Indira Gandhi National Old Age Pension Scheme (IGNOAPS). Short-term analyses offer economic justifications for an increase in pension benefits either by a single adjustment factor or combined adjustment factors but at a cost of remarkable increase in public expenditure requirements. Long-term analyses show that the IGNOAPS and proposed USPS scenarios are fiscally sustainable but sensitive to five parameters (productivity growth, inflation rate, discount rate, income elasticity public pension expenditure and income elasticity of health expenditure). A policy mix of these parameters leads to fiscal sustainability of the IGNOAPS and proposed USPS scenarios with differential impacts on inter-generational distribution of welfare by tax and transfer adjustments. Research limitations/implications Application of the generational accounting methodology is new for India’s pension economics and may have applicability and relevance for future extensions and analyses of other fiscal policy issues. This paper sets a benchmark for such extensions and applications. Practical implications The analyses and implications offer economic justifications for increase in levels of pension benefits by the current pension scheme and proposed USPS scenarios, introduction of sustainable USPS scenarios under current fiscal policies and choice of design parameters for a fiscally sustainable USPS. Social implications Social pensions have implications for providing income security and livelihood benefits for all elderly civilians in society. Originality/value The paper adds to the existing knowledge on economic analyses and fiscal implications of India’s old age pension policies in general and social pension policies in particular. Subject to the comparability of socio-economic structures and pension programmes, the methodology and public policy analyses of this paper may be of relevance and applicability for developing countries in Asia.
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Hernández, Fé Fernández, et Efraín Sánchez González. « Smoking, Health Market Equilibrium and Fiscal Policy ». Journal of Clinical and Laboratory Research 3, no 3 (11 septembre 2021) : 01–04. http://dx.doi.org/10.31579/2768-0487/036.
Texte intégralRésumé :
Introduction: The application of and effective fiscal policy for the smoking control in the health context begins understanding the smoking impact over the health market equilibrium. Objective: To describe the basic relation between the health market equilibrium and the application of a fiscal policy for the appropriate smoking control. Materials and methods: Was made a descriptive research about the basic relation between the health market equilibrium and the application of a fiscal policy for the appropriate smoking control. As teoric methods were used the descriptive, the comparative and the historic – logic. As empiric method was used the bibliographic research. The graphs were designed by Microsoft Excel 2007. Results: Society would be better without smoking and fiscal authorities must acknowledge it and take decision agree to that fact. These authorities need induce to smokers to reduce the tobacco consumption. For that fiscal authorities need understand the main causes from the tobacco consumption beginning and keeping. Conclusion: Tobacco consumption intensity growing carries to increase the price equilibrium from this market and much patients leave from this market because of smoking impact. That’s why the fiscal authorities must use the fiscal policies carrying the population to a context with lowest smoking impact over the health services market.
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Ologbenla, Patrick. « Determinants of fiscal policy behavior in Nigeria ». Investment Management and Financial Innovations 16, no 2 (8 avril 2019) : 1–13. http://dx.doi.org/10.21511/imfi.16(2).2019.01.
Texte intégralRésumé :
The study investigated the factors that determine fiscal behavior in Nigeria. The vulnerability of fiscal policy framework in Nigeria to different shocks and the attendant effects on the behavior of fiscal policy are parts of the reasons that prompted this research work. Annual data between 1980 and 2015 on core fiscal variables such as government revenue, government expenditure, fiscal balance, public debt, as well as other variables such as oil price, exchange rate, and inflation rate commodity price among others, are used. The Auto-Regressive Distributed Lag ARDL estimating technique is used to analyze both the long-run and short-run effects of these variables on fiscal behavior in Nigeria. Findings from the study show that fiscal policy in Nigeria is highly vulnerable to shocks from these variables mostly in the short run. Notwithstanding, variables like government revenue, government expenditure, regime of administration, oil price and commodity price volatilities all have sustained effects till the long-run periods. It was discovered that oil price movements is not the only external factor that has pronounced effects on fiscal behavior, but commodity prices volatility generally constitutes an important influential factor in determination of fiscal policy behavior in Nigeria.