The Effect Of Deficit Finance On Human Capital

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The Effect Of Deficit Finance On Human Capital

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Author : Philip A. Trostel
language : en
Publisher:
Release Date : 1993

The Effect Of Deficit Finance On Human Capital written by Philip A. Trostel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with categories.

Capital Mobility Fiscal Policy And Growth Under Self Financing Of Human Capital Formation

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Author : Willem H. Buiter
language : en
Publisher:
Release Date : 1995

Capital Mobility Fiscal Policy And Growth Under Self Financing Of Human Capital Formation written by Willem H. Buiter and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Capital categories.

This paper considers the effects of fiscal and financial policy on economic growth in open and closed economies, when human capital formation by young households is constrained by the illiquidity of human wealth. Both endogenous and exogenous growth versions of the basic OLG model are analyzed. We find that intergenerational redistribution policies that discourage physical capital formation may encourage human capital formation. Despite common technologies and perfect international mobility of financial capital, the non- tradedness of human capital and the illiquidity of human wealth make for persistent differences in productivity growth rates (in the endogenous growth version of the model) or in their levels (in the exogenous growth version). We also consider the productivity growth (or level) effects of public spending on education and of the distortionary taxation of financial asset income.

Taxation In A Dynamic General Equilibrium Model With Human Capital

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Author : Philip Andrew Trostel
language : en
Publisher:
Release Date : 1991

Taxation In A Dynamic General Equilibrium Model With Human Capital written by Philip Andrew Trostel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Taxation categories.

Tax Financing Of Budget Deficits In Ldcs

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Author : Samuel Okafor
language : en
Publisher:
Release Date : 2017

Tax Financing Of Budget Deficits In Ldcs written by Samuel Okafor and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.

Urgent need for quick action to put Nigeria and other developing economies back to the path of economic recovery has almost imposed state of emergency on these economies. Most LDCs are faced with acute shortage of development funds due to recessions accompanying incessant crashes in international financial market. Raising existing tax rates to finance budget deficit in LDCs often generates public debate on pros and cons of such policy option. Study considered Nigeria as typical case of LDCs. Study focused on establishing the effectiveness of tax-financing of budget deficit under Laffer curve theory. Study spanned across 1970-2015. Data were analyzed using ADF, CUSUM, heteroskedasticity, multiple regression, Johansen cointegration and ECM. Results indicate that: (1) Custom and exercise duties, petroleum profit tax and value-added tax contributed significantly to the reduction in budget deficit while company income tax had nonsignificant impact (2) Total government revenue constituted major chunk of planned income for budget deficit financing (3) Deficit financing of capital health expenditure yielded high returns while that of recurrent education expenditure and capital education expenditure was accompanied by low returns (4) Growth and employment generation accelerated deficit financing while private investment decelerated it (5) There were long and short-run relationships among budget deficit, taxes, human capital investment and macroeconomic indicators with significant rate of adjustment of short-run disequilibrium. Study concluded that tax-financing of budget deficit was effective under Laffer curve effect. It was recommended, among others, that LDCs should enlarge their tax bases through inclusion, to finance budget deficit.

Impact Of Political Stability On Economic Development

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Author : Addis Ababa Othow Akongdit
language : en
Publisher: Christian Faith Publishing, Inc.
Release Date : 2019-10-04

Impact Of Political Stability On Economic Development written by Addis Ababa Othow Akongdit and has been published by Christian Faith Publishing, Inc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-04 with Business & Economics categories.

The main theme of this study is chosen in response to the general consensus on the importance of conducting a comprehensive study that may shape the economic policies and promote the business sector as well as the government and other organizations. However, the key question posed by this study is whether the theory that political stability fosters economic development is simply the wishful thinking of people who value both stability and growth or whether it is a delusion of those who believe that most developing countries may enjoy rapid growth if they are stable. The importance of this study is clear: South Sudan is confronted with enormous challenges of administrative, ethnic, political, and economic development. In light of this, the current study addresses the following issues: "What is the impact of the political system in South Sudan on economic development? What is the impact of oil resources on sustainable development? What is the impact of the oil shutdown on political and economic stability, and what is the possibility of deficit financing? Is there any possibility for cooperation between Sudan and South Sudan?" In this context, the major objective of this study is to analyze the political development of the country to verify that political stability fosters the achievement of economic and social development. It also seeks to analyse the political history of Sudan in general and South Sudan in particular, emphasising the importance of political stability, among other considerations, as a precondition for socioeconomic development. Furthermore, other objectives of the study include suggestions on how political stability could be ensured in South Sudan and how good governance may promote political and economic stability. In light of the above, this study focuses on the issues of the political transition and policies that will improve the economic, political, and social well-being of the people of South Sudan. It seeks ways of setting up policies that will raise the standard of living of people with sustained growth and move from a simple, low-income economy to a modern, high-income economy. It also attempts to develop a framework for cooperation between Sudan and South Sudan. The methodology that is adopted to address these issues is collecting, sorting, and analysing primary and secondary information relating to the history of political and economic development in South Sudan, using empirical approaches such as SWOT analysis, information sources, references, and books. However, this study is organized as follows: chapter 1 discusses political stability and economic development in a theoretical framework through which we explore the empirical analysis; it is divided into four sections. Section 1 focuses on definition, causes, and measurement of political stability with an aim to assess the effect of political stability on growth-related variables. In section 2, we define the concept of political instability and measure it by using indicators like the number of coups d'état, the number of major government crises, the number of cabinet changes, and the number of political revolutions as well as political assassinations. Section 3 discusses the concept and definition of economic development and summarizes the major theories of economic development in five fundamental elements. The last section explores the implications of financing economic development by discussing domestic resources (including deficit financing) and foreign financial resources and the role of each of them in achieving economic development. Chapter 2 presents the political and social background of South Sudan is divided into three sections. Section 1 discusses South Sudan's ability to function and successfully implement its policies and strategic vision for the year 2040. Section 2 focuses on the demographic structure of South Sudan in terms of population, education, languages, and culture. Section 3 discusses the social indicators such as infrastructure, poverty, and corruption which affect improving social welfare as well as the political stability and economic development of the Republic of South Sudan. Chapter 3 focuses on the South Sudan economy and the challenges. Here we discuss the political and development challenges facing South Sudan as well as the investment opportunities. This chapter discusses the major challenges which face South Sudan, especially issues such as border demarcation, political reform, and oil shutdown as well as investment opportunities in oil and agriculture. In chapter 4, we discuss South Sudan's oil and economic development. It focuses on oil resources and their impact on sustainable development, the impact of oil shutdown on political and economic development and the possibility of deficit financing. In chapter 5, we discuss the future of stability and prosperity in South Sudan. It discusses how good governance and cooperation can be enormously beneficial to South Sudan in the process of building sustainable political and economic stability and what South Sudan can learn from other countries. The major findings of this study are as follows: - Political stability plays an important role in determining economic growth and economic development in many economies. - The degree of political stability is high if there is a high degree of democracy or autocracy. - Strong democracies or strong autocracies are best equipped to provide political stability that may lead to economic development. It is then the level of political stability within a given country, regardless of regime type, that results in economic growth. - Long-term sustainable economic growth depends on the ability to raise the rates of accumulation of physical and human capital by securing necessary sources (domestic, foreign, or deficit finance) to use efficiently for financing economic development. - Most economists view corruption as a major obstacle to development. It is seen as one of the causes of low income and is believed to play a critical role in generating poverty traps (e.g., Blackburn et al. 2006). Thus, corruption, according to this view, "sands" the wheels of development and it makes economic and political transitions difficult. - Not only is good governance critical to development, but it is also the most important factor in determining whether a country has the capacity to use resources effectively to promote economic growth and reduce poverty.

Public Finance Monetary Policy And Market Issues

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Author : Edward Shinnick
language : en
Publisher: LIT Verlag Münster
Release Date : 2008

Public Finance Monetary Policy And Market Issues written by Edward Shinnick and has been published by LIT Verlag Münster this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Finance, Public categories.

Economies throughout both the developed and developing world are interconnected like never before, whether it is the financing of global challenges, monetary integration among a group of countries or trade across national borders. This increasing degree of interconnection brings both opportunities and challenges for the countries involved. This volume provides an analysis of three distinct but closely related themes of economic interconnection: Public Finance, Monetary Policy and Market Issues. The collection will stimulate further debate on these issues and in doing so will help to broaden the exchange of ideas among economists in both academia and business.

The Importance Of Human Capital And Financial Development In Economic Growth

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Author : Dwyfor Evans
language : en
Publisher:
Release Date : 2000

The Importance Of Human Capital And Financial Development In Economic Growth written by Dwyfor Evans and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Endogenous growth (Economics) categories.

The Effects Of Government Deficits

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Author : Charles E. Dumas
language : en
Publisher:
Release Date : 1985

The Effects Of Government Deficits written by Charles E. Dumas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Budget deficits categories.

Social Security Reform

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Author : Patricio Arrau
language : en
Publisher:
Release Date : 1990

Social Security Reform written by Patricio Arrau and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Arbejdsmarkedet categories.

Substituting the pay- as- you- go social security system by a fully funded individual- accounts system may generate long- run capital accumulation, but often at the cost of income redistribution away from the elderly. Different deficit- financing schemes are studied having this issue in mind.

An Inquiry Into The Nature And Causes Of The Wealth Of Nations

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Author : Adam Smith
language : en
Publisher:
Release Date : 1822

An Inquiry Into The Nature And Causes Of The Wealth Of Nations written by Adam Smith and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1822 with Economics categories.