Fiscal Policy And Long Run Growth
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Fiscal Policy And Long Run Growth
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Author : Mr.Vito Tanzi
language : en
Publisher: International Monetary Fund
Release Date : 1996-10-01
Fiscal Policy And Long Run Growth written by Mr.Vito Tanzi 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 1996-10-01 with Business & Economics categories.
This paper discusses in a systematic and comprehensive way the existing literature on the relationship between the growth of countries’ economies and various public finance instruments, such as tax policy, expenditure policy, and overall budgetary policy, from the perspectives of allocative efficiency, macroeconomic stability, and income distribution. It reviews both the conceptual linkages between each of the instruments and growth and the empirical evidence on such relationships. It broadly concludes that fiscal policy could play a fundamental role in affecting the long-run growth performance of countries.
Fiscal Policy And Long Term Growth
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-20
Fiscal Policy And Long Term Growth written by International Monetary Fund 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 2015-04-20 with Business & Economics categories.
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.
How Do National Policies Affect Long Run Growth
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Author :
language : en
Publisher: World Bank Publications
Release Date : 1992
How Do National Policies Affect Long Run Growth written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.
Is Fiscal Policy The Answer
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Author : Blanca Moreno-Dodson
language : en
Publisher: World Bank Publications
Release Date : 2012-10
Is Fiscal Policy The Answer written by Blanca Moreno-Dodson and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10 with Business & Economics categories.
Fiscal policy is an important instrument for maintaining and improving living standards. Such living standards can be viewed as an outcome of the interaction between the opportunities offered by society and the readiness and ability of each person to exploit them. Under certain circumstances, public finance can make an important contribution to the creation of opportunities within a given society by raising resources from the private sector through taxation or borrowing (domestic and external) and allocating those resources effectively and equitably in the form of public spending, including through public goods and transfers. The first chapters in this volume sketch out a framework that policy makers can use in adopting a more cohesive or integrated approach to the short- and long-term dimensions of fiscal policy. Here the traditional threefold rationale for fiscal policy proposed by Musgrave-stabilization, resource allocation, and distribution-continues to be useful. Other chapters in this volume take up some of the critical institutional challenges in implementing fiscal policy for longer-term growth and development. These chapters also look at the tools and approaches being developed to address these challenges. Improving the quality of public investment management is a particular priority in view of the recent evidence that as little as half of all public investment expenditure translates into productive capital stock. The last chapter in this volume is a case study of fiscal responses to the great recession in low-income Sub-Saharan Africa, looking at stabilization and the longer-run growth, as well as distributional aspects of such responses. The growing depth of domestic financial markets in many African countries rather unexpectedly is turning out to be a critical source of financing for fiscal policy responses.
How Financial Markets Affect Long Run Growth
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Author : Ejaz Ghani
language : en
Publisher: World Bank Publications
Release Date : 1991
How Financial Markets Affect Long Run Growth written by Ejaz Ghani and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Economic development categories.
A country with a more developed financial system tends to grow faster because it can make more efficient use of resources. Policy reform that fosters financial development also fosters a better growth rate real GDP.
Fiscal Policies And Growth In The World Economy
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Author : Jacob A. Frenkel
language : en
Publisher: MIT Press
Release Date : 1996
Fiscal Policies And Growth In The World Economy written by Jacob A. Frenkel and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
Covering a full array of topics in open economy macro and public economics, Fiscal Policies and Growth in the World Economy has been thoroughly revised and extended. The added material in this new edition includes stochastic rational-expectations extensions of the Mundell-Fleming model, the development of a dynamic-optimizing approach of the trade balance, and an entirely new part on issues of international economic convergence, which also contains a comprehensive policy overview. Other chapters have been updated or reorganized, and there is a brief guide to solving typical dynamic macro problems along with a printout of software suitable for numerical simulations. A companion diskette containing solutions in dynamic macro problems and some sample programs is available in GAUSS for IBM. The exercises and solutions manual by Krueger, Ostry, and Yuen has also been updated and extended. Fiscal Policies and Growth in the World Economy has been used successfully in graduate and senior undergraduate courses in international economics and public finance. The objective of this new edition remains the same as before: to treat the major topics in macro and public economics using both traditional and modern approaches. The traditional approach is first explained, from the simple income-expenditure model to the more advanced stochastic Mundell-Fleming model. The modern intertemporal approach is then presented, starting with the simple two-period model and extending it to a full-fledged dynamic model. Other sections review recent developments in the world economy; government spending, budget deficits, and differences across international taxation; and economic growth in the world economy, especially the convergence of income and growth levels across countries.
Walking Hand In Hand
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Author : Mr.Carlo Cottarelli
language : en
Publisher: International Monetary Fund
Release Date : 2012-05-01
Walking Hand In Hand written by Mr.Carlo Cottarelli 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 2012-05-01 with Business & Economics categories.
Implementation of fiscal consolidation by advanced economies in coming years needs to take into account the short and long-run interactions between economic growth and fiscal policy. Many countries must reduce high public debt to GDP ratios that penalize longterm growth. However, fiscal adjustment is likely to hurt growth in the short run, delaying improvements in fiscal indicators, including deficits, debt, and financing costs. Revenue and expenditure policies are also critical in affecting productivity and employment growth. This paper discusses the complex relationships between fiscal policy and growth both in the short and in the long run.
Macroeconomic Policies And Long Term Growth
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Author : Mr.Mohsin S. Khan
language : en
Publisher: International Monetary Fund
Release Date : 1991-03
Macroeconomic Policies And Long Term Growth written by Mr.Mohsin S. Khan 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 1991-03 with Business & Economics categories.
This paper reviews the theoretical and empirical aspects of the relationship between macroeconomic policies and the long-run rate of growth of GNP. The macroeconomic policies examined include fiscal policies, monetary and interest rate policies, external policies, and policies to reform the goods and labor markets, including adjustments of producer prices and wages. In general, the effects of these policies on growth operate directly or indirectly through their influence on investment in physical and human capital, and on factor productivity. The available empirical evidence confirms the effects of specific macroeconomic and financial policies on long-run growth.
The Impact Of Fiscal Policy On Economic Growth
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Author : Ulrich Thiessen
language : en
Publisher: Nomos Verlagsgesellschaft
Release Date : 2007
The Impact Of Fiscal Policy On Economic Growth written by Ulrich Thiessen and has been published by Nomos Verlagsgesellschaft this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business & Economics categories.
The analysis of fiscal policy on economic growth has changed fundamentally. Using the example of the large European State and prominent transition country Ukraine, selected modern aspects of fiscal policy are analyzed. First, can a higher degree of fiscal decentralization, in the sense of more freedom for decisions given to lower levels of government, promote economic growth? And if so, under what conditions? Second, which of the potential causes of shadow economic activity are statistically significant, which of them can be influenced by economic and fiscal policy measures, and what is their respective quantitative influence on the shadow economy? Third, is the fiscal equalization system effectively redistributing income among the regions? What is the impact of the redistribution on economic growth and on the donor and recipient regions, respectively? How is fiscal sustainability to be assessed and could relatively simple rules be suggested that would promote a stabilizing influence of fiscal policy on the economy while avoiding crises and improve the long run efficiency of fiscal policy? Finally, to what extent is social policy considered fiscal policy and are there options to raise the efficient use of resources in social policy? Each of these questions is answered on the basis of an analysis and the book includes policy recommendations.
The Impact Of Fiscal Policy Variables On Output Growth
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Author : Mr.Philip R. Gerson
language : en
Publisher: International Monetary Fund
Release Date : 1998-01-01
The Impact Of Fiscal Policy Variables On Output Growth written by Mr.Philip R. Gerson 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 1998-01-01 with Business & Economics categories.
This paper surveys the theoretical and empirical literature on the relationship between taxation and public expenditure and economic growth. Particular attention is paid to the effect of taxation and government expenditure on the supply and productivity of labor and physical capital. Studies suggest that well-targeted government expenditures on health, education, and infrastructure should have a positive impact on growth. By contrast, the impact of taxation on the supplies of labor and capital, and on output growth, is more muted.