Deficits And Debt In Industrialized Democracies
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Deficits And Debt In Industrialized Democracies
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Author : Eisaku Ide
language : en
Publisher: Routledge
Release Date : 2015-03-24
Deficits And Debt In Industrialized Democracies written by Eisaku Ide and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-24 with Political Science categories.
Since the global financial crisis, government debt has soared globally by 40 percent and now exceeds an astonishing $100 trillion. Not all countries, though, have fared the same. Indeed, even prior to the financial crisis, the fiscal fates of countries have been diverging, despite predictions that pressures from economic globalization push countries toward more convergent fiscally conservative policies. Featuring the work of an international interdisciplinary team of scholars, this volume explains patterns of fiscal performance (persistent patterns of budget deficits and government debt) from the 1970s to the present across seven countries – France, Italy, Germany, Japan, South Korea, Sweden, and the United States. Employing a comparative case study approach, seldom employed in studies of fiscal performance, contributions illuminate the complex causal factors often overlooked by quantitative studies and advances our theoretical understanding of fiscal performance. Among other things, the cases highlight the role of taxpayer consent, tax structure, the welfare state, organization of interests, and labor and financial markets in shaping fiscal outcomes. A necessary resource to understand a broader array of factors that shape fiscal outcomes in specific national contexts, this book will reinvigorate the study of fiscal performance.
Political And Economic Determinants Of Budget Deficits In The Industrial Democracies
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Author : Nouriel Roubini
language : en
Publisher:
Release Date : 1988
Political And Economic Determinants Of Budget Deficits In The Industrial Democracies written by Nouriel Roubini and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Budget deficits categories.
This paper focuses on the management of fiscal deficits and the public debt in the industrial democracies. Given the large deficits in many OECD countries in recent years, and the resulting sharp rise in the public debt, it is important to determine the economic and political forces leading to such large deficits. We find only partial support for the "equilibrium approach to fiscal policy", which assumes that tax rates are set over time in order to minimize the excess burden of taxation. Tax rates do not seem to be smoothed, and budget deficits in many countries in recent years appear to be too large to be explained by appeal to transitory increases in government spending. We suggest that in several countries the slow rate at which the post-'73 fiscal deficits were reduced resulted from the difficulties of political management in coalition governments. There is a clear tendency for larger deficits in countries characterized by a by a short average tenure of government and by the presence of many political parties in a ruling coalition
Deficits Debt And Democracy
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Author : Richard E. Wagner
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-01-01
Deficits Debt And Democracy written by Richard E. Wagner and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.
This timely book reveals that the budget deficits and accumulating debts that plague modern democracies reflect a clash between two rationalities of governance: one of private property and one of common property. The clashing of these rationalities at various places in society creates forms of societal tectonics that play out through budgeting. The book demonstrates that while this clash is an inherent feature of democratic political economy, it can nonetheless be limited through embracing once again a constitution of liberty. Not all commons settings have tragic outcomes, of course, but tragic outcomes loom large in democratic processes because they entail conflict between two very different forms of substantive rationality; the political and market rationalities. These are both orders that contain interactions among participants, but the institutional frameworks that govern those interactions differ, generating democratic budgetary tragedies. Those tragedies, moreover, are inherent in the conflict between the different rationalities and so cannot be eliminated. They can, as this book argues, be reduced by restoring a constitution of liberty in place of the constitution of control that has taken shape throughout the west over the past century. Economists interested in public finance, public policy and political economy along with scholars of political science, public administration, law and political philosophy will find this book intriguing.
Debt And Democracy In Latin America
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Author : Barbara Stallings
language : en
Publisher: Routledge
Release Date : 2019-04-12
Debt And Democracy In Latin America written by Barbara Stallings and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-12 with Political Science categories.
This book investigates the two-way relationship between debt and democracy in Latin America. It examines the evidence about how regime type influenced the choice of policy to deal with foreign creditors and related economic issues.
Institutions Politics And Fiscal Policy
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Author : Rolf R. Strauch
language : en
Publisher: Springer Science & Business Media
Release Date : 2000
Institutions Politics And Fiscal Policy written by Rolf R. Strauch and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
Presenting the current frontier of international comparative research in public finance and identifying important elements of the design of budgeting institutions, the book is of interest for the research community studying the political economy of public budgeting and for practitioners in governments and international organizations alike."--Jacket.
Macroeconomic Policies Of Developed Democracies
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Author : Robert J. Franzese
language : en
Publisher: Cambridge University Press
Release Date : 2002-02-11
Macroeconomic Policies Of Developed Democracies written by Robert J. Franzese and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-02-11 with Business & Economics categories.
Modern political-economic theory explains the postwar evolution of macroeconomic policy in developed democracies.
Economic Policy And Performance In Industrial Democracies
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Author : Takayuki Sakamoto
language : en
Publisher: Routledge
Release Date : 2008-01-31
Economic Policy And Performance In Industrial Democracies written by Takayuki Sakamoto and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-01-31 with Business & Economics categories.
This book is the first systematic study of how the interdependence of fiscal and monetary policies and the interaction of party governments and central banks affect the fiscal-policy mix in eighteen industrial democracies in North America, Western Europe, Japan and Oceania. Sakamoto argues that central banks influence on economic policy is far mor
Development Centre Seminars Democracy Decentralisation And Deficits In Latin America
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 1998-03-09
Development Centre Seminars Democracy Decentralisation And Deficits In Latin America written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-03-09 with categories.
What is the impact of political decentralisation in Latin America? This book considers the problems raised by political decentralisation in the region and identifies the challenges ahead. Political decentralisation tends to devolve a certain amount ...
Reconstructing The National Bank Controversy
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Author : Eric Lomazoff
language : en
Publisher: University of Chicago Press
Release Date : 2018-11-07
Reconstructing The National Bank Controversy written by Eric Lomazoff and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-07 with Political Science categories.
The Bank of the United States sparked several rounds of intense debate over the meaning of the Constitution’s Necessary and Proper Clause, which authorizes the federal government to make laws that are “necessary” for exercising its other powers. Our standard account of the national bank controversy, however, is incomplete. The controversy was much more dynamic than a two-sided debate over a single constitutional provision and was shaped as much by politics as by law. With Reconstructing the National Bank Controversy, Eric Lomazoff offers a far more robust account of the constitutional politics of national banking between 1791 and 1832. During that time, three forces—changes within the Bank itself, growing tension over federal power within the Republican coalition, and the endurance of monetary turmoil beyond the War of 1812 —drove the development of our first major debate over the scope of federal power at least as much as the formal dimensions of the Constitution or the absence of a shared legal definition for the word “necessary.” These three forces—sometimes alone, sometimes in combination—repeatedly reshaped the terms on which the Bank’s constitutionality was contested. Lomazoff documents how these three dimensions of the polity changed over time and traces the manner in which they periodically led federal officials to adjust their claims about the Bank’s constitutionality. This includes the emergence of the Coinage Clause—which gives Congress power to “coin money, regulate the value thereof”—as a novel justification for the institution. He concludes the book by explaining why a more robust account of the national bank controversy can help us understand the constitutional basis for modern American monetary politics.
The Political Economy Of Budget Deficits
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Author : Mr.Alberto Alesina
language : en
Publisher: International Monetary Fund
Release Date : 1994-08-01
The Political Economy Of Budget Deficits written by Mr.Alberto Alesina and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-08-01 with Business & Economics categories.
This paper provides a critical survey of the literature on politico-institutional determinants of the government budget. We organize our discussion around two questions: Why did certain OECD countries, but not others, accumulate large public debts? Why did these fiscal imbalances appear in the last 20 years rather than before? We begin by discussing the “tax smoothing” model and conclude that this approach alone cannot provide complete answers to these questions. We will then proceed to a discussion of political economy models, which we organize in six groups: (i) models based upon opportunistic policymakers and naive voters with “fiscal illusion;” (ii) models of intergenerational redistributions; (iii) models of debt as a strategic variable, linking the current government with the next one; (iv) models of coalition governments; (v) models of geographically dispersed interests; and (vi) models emphasizing the effects of budgetary institutions. We conclude by briefly discussing policy implications.