Fiscal Policy Public Expenditure Composition And Growth
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Fiscal Policy Public Expenditure Composition And Growth
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Author : Willi Semmler
language : en
Publisher: World Bank Publications
Release Date :
Fiscal Policy Public Expenditure Composition And Growth written by Willi Semmler 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 with categories.
Fiscal Policy Public Expenditure Composition And Growth
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Author : Willi Semmler
language : en
Publisher: World Bank Publications
Release Date :
Fiscal Policy Public Expenditure Composition And Growth written by Willi Semmler 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 with categories.
Fiscal Policy Public Expenditure Composition And Growth Theory And Empirics
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Author : Willi Semmler
language : en
Publisher:
Release Date : 2016
Fiscal Policy Public Expenditure Composition And Growth Theory And Empirics written by Willi Semmler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
This paper responds to the development policy debate involving the World Bank and the IMF on the use of fiscal policy not only for economic stabilization but also to promote economic growth and increase per capita income. A key issue in this debate relates to the effect of the composition of public expenditure on economic growth. Policy makers and some researchers have argued that expenditure on growth-enhancing functions could enhance future revenue and justify the provision of quot;fiscal spacequot; in the budget. But there are no simple ways to identify the growth-maximizing composition of public expenditure. The current paper lays out a research strategy to explore the effects of fiscal policy, including the composition of public expenditure, on economic growth, using a time series approach. Based on the modeling strategy of Greiner, Semmler and Gong (2005) we develop a general model that features a government that undertakes public expenditure on (a) education and health facilities which enhance human capital, (b) public infrastructure such as roads and bridges necessary for market activity, (c) public administration to support government functions, (d) transfers and public consumption facilities, and (e) debt service. The proposed model is numerically solved, calibrated and the impact of the composition of public expenditure on the long-run per capita income explored for low-, lower-middle- and upper-middle-income countries. Policy implications and practical policy rules are spelled out, the extension to an estimable model indicated, a debt sustainability test proposed, and the out-of-steady-state dynamics studied.
Fiscal Policy Public Expenditure Composition And Growth
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Author : Willi Semmler
language : en
Publisher:
Release Date : 2012
Fiscal Policy Public Expenditure Composition And Growth written by Willi Semmler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
This paper responds to the development policy debate involving the World Bank and the IMF on the use of fiscal policy not only for economic stabilization but also to promote economic growth and increase per capita income. A key issue in this debate relates to the effect of the composition of public expenditure on economic growth. Policy makers and some researchers have argued that expenditure on growth-enhancing functions could enhance future revenue and justify the provision of "fiscal space" in the budget. But there are no simple ways to identify the growth-maximizing composition of public expenditure. The current paper lays out a research strategy to explore the effects of fiscal policy, including the composition of public expenditure, on economic growth, using a time series approach. Based on the modeling strategy of Greiner, Semmler and Gong (2005) we develop a general model that features a government that undertakes public expenditure on (a) education and health facilities which enhance human capital, (b) public infrastructure such as roads and bridges necessary for market activity, (c) public administration to support government functions, (d) transfers and public consumption facilities, and (e) debt service. The proposed model is numerically solved, calibrated and the impact of the composition of public expenditure on the long-run per capita income explored for low-, lower-middle- and upper-middle-income countries. Policy implications and practical policy rules are spelled out, the extension to an estimable model indicated, a debt sustainability test proposed, and the out-of-steady-state dynamics studied.
Unproductive Public Expenditures
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2005-04-04
Unproductive Public Expenditures 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 2005-04-04 with Business & Economics categories.
Public expenditure policy, together with efforts to raise revenue,is at the core of efficient and equitable adjustment. Public expenditureproductivity has critical implications for fiscal adjustment, particularly as the competition for limited public resources intensifies.By providing a framework for defining and analyzing public expenditureproductivity and unproductive expenditures, this pamphlet discusseshow economic policymakers may approach these issues.
The Quality Of Public Finances And Economic Growth
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Author : Salvador Barrios
language : en
Publisher:
Release Date : 2008
The Quality Of Public Finances And Economic Growth written by Salvador Barrios and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Economic development categories.
Improving the quality of public finances (QPF) has become a new focus for European policy makers. This focus is largely a response to preparing the European economies for the dual challenge of ageing populations and increased exposure to global competition. Better QPF can help tackle both challenges: either directly through fiscal consolidation, pension and expenditure reforms or indirectly by creating conditions in support of long-term growth as expenditure and revenue systems become more efficient and less distortionary. At the EU level, the Stability and Growth Pact and the Lisbon Strategy for Growth and Jobs provide, in principle, the appropriate tools for fostering such policies, but in practice both instruments have not yet focused much on QPF which is a common component of both tools. This is partly because a broad-based conceptual framework on what makes up QPF has been missing. This paper attempts to close this gap by developing a multi-dimensional approach on QPF. The framework aims at bringing together the many different pieces of QPF that have so far mostly been studied in isolation. The paper summarises empirical findings on the links between QPF and growth, reviews how EU Member States fare in those aspects and analyses some links between QPF and growth based on a growth-accounting approach, using discriminant analysis.
Fiscal Policy And Economic Growth
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Author : Cheryl Williamson Gray
language : en
Publisher: World Bank Publications
Release Date : 2007
Fiscal Policy And Economic Growth written by Cheryl Williamson Gray 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 2007 with Political Science categories.
Worldwide experience highlights public finance policies that promote economic growth while meeting the need for fundamental public goods. Macroeconomic stability is essential, as large budget deficits retard growth, followed by moderate levels of public spending - around one-third of GDP or less - especially when governance and public administration are weak; that in turn requires efficiency, particularly in areas such as infrastructure, health, education, and social protection; finally, lower income and payroll tax rates can spur investment and employment. The Eastern European and Central Asia countries pioneered flat income taxes without generally suffering revenue losses as a result, but they have not addressed the problem of high payroll taxes and still face many hurdles in improving the efficiency and effectiveness of public spending and revenue generation.
Managing Public Expenditure
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Author : Organisation for Economic Co-operation and Development
language : en
Publisher: OECD Publishing
Release Date : 2001
Managing Public Expenditure written by Organisation for Economic Co-operation and Development and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
Managing Public Expenditure presents a comprehensive and in-depth analysis of all aspects of public expenditure management from the preparation of the budget to the execution, control and audit stages.
Is Fiscal Policy The Answer
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Author : Blanca Moreno-Dodson
language : en
Publisher: World Bank Publications
Release Date : 2012-11-15
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 2012-11-15 with Business & Economics categories.
The effects of fiscal policy measures, both taxes and public spending, adopted by developing countries in response to the 2009 global crisis are still uncertain. This book discusses them using an analytical framework that allows for distilling possible implications on growth and social welfare.
A Handbook Of Alternative Theories Of Public Economics
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Author : Francesco Forte
language : en
Publisher: Edward Elgar Publishing
Release Date : 2014-03-28
A Handbook Of Alternative Theories Of Public Economics written by Francesco Forte 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 2014-03-28 with Business & Economics categories.
This comprehensive and thought-provoking Handbook reviews public sector economics from pluralist perspectives that either complement or reach beyond mainstream views. The book takes a comprehensive interdisciplinary approach, drawing on economi