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Fiscal Federalism
by Robin Boadway Anwar ShahThis book provides a comprehensive account of the principles and practices of fiscal federalism based on the currently accepted theoretical framework and best practices. The traditional topics of assignment of responsibilities, intergovernmental fiscal arrangements, fiscal competition, and grants are covered in a unified framework with reference to actual practices followed in federations around the world. Special issues such as local government and the implications of natural resource issues are considered along with emerging issues such as governance, corruption, and the effect of globalization and the information revolution on the nation state. The treatment is non-technical and suitable for a wide variety of audiences, including scholars, instructors, students, policy advisors, and practitioners.
Fiscal Federalism and Diversity Accommodation in Multilevel States: A Comparative Outlook (Federalism and Internal Conflicts)
by Alice Valdesalici Francisco Javier Romero CaroThis open access edited book connects two strands of federal studies, fiscal federalism, and diversity accommodation, to answer two closely interrelated questions. The first of these is to what extent has the need to accommodate diversities determined financial relations and their evolution? The authors answer this question by conducting a thorough investigation of the types of diversity that drive such evolution. The second question is does fiscal federalism have a broadly positive or negative impact on the accommodation of diversities, by producing institutional solutions that either integrate a federal system or pull it apart? Through contributions from experts in law, economics, and political science, the book uses a series of case studies to establish a theoretical framework for exploring the relationship between fiscal federalism and diversity accommodation. The authors lay the groundwork for a comparative study of this relationship in multilevel states.
Fiscal Federalism and Equalization Policy in Canada: Political and Economic Dimensions
by Gregory P. Marchildon André Lecours Daniel Béland Haizhen Mou M. Rose OlfertFiscal Federalism and Equalization Policy in Canada aims to increase public understanding of equalization and fiscal federalism by providing a comparative and multidisciplinary perspective on the history, politics, and economics of equalization policy in Canada. The authors provide a brief history, an analysis of the politics of equalization as witnessed over the last fifteen years, and a discussion of key economic debates concerning the role of the program and its effects. They also explore the relationship between equalization and other components of fiscal federalism, particularly the Canada Health Transfer and the Canada Social Transfer. The result is an analysis that draws from the best scholarship available in the fields of economics, economic history, political science, political sociology, and public policy.
Fiscal Federalism and European Economic Integration (Routledge Studies in the European Economy)
by Mark Baimbridge Philip WhymanThe pace of economic integration amongst European Union (EU) member states has accelerated considerably during the past decade, highlighted by the process of Economic and Monetary Union (EMU). Many aspects of the EU's apparatus, however, have failed to evolve in order to meets these new challenges. This book explores the issue of fiscal federalism within the context of EU integration from theoretical, historical, policy and global perspectives. It contrasts the pace of integration amongst EU member states with the failure of financial and administrative apparatus to evolve to encompass fiscal federalism, i.e. the development of a centralised budgetary system. This impressive collection, with contributions from a range of internationally respected authors, shall interest students and researchers involved with European economics and economic integration. Its accessible style will also make it extremely useful to policy-makers and professionals for whom European economic integration is a daily topic of conversation.
Fiscal Federalism in Canada: Analysis, Evaluation, Prescription
by André Lecours Daniel Béland Trevor Tombe Eric ChampagneFeaturing insights from some of the top specialists in the country, Fiscal Federalism in Canada unpacks numerous complexities of fiscal federalism in Canada. The book features key regional and provincial perspectives, while taking into account Indigenous realities, the three territories, and municipal affairs. The contributing authors go beyond the major federal transfers to examine the financing of education, cities, infrastructure, and housing. This volume shows that fiscal federalism is much more than simply an aggregate of individual programs and transfers. It highlights the role of actors other than the federal and provincial governments and recalls the importance of territoriality. The book pays close attention to the political dimension of fiscal federalism in Canada, which is at the heart of how the federation functions and is essential to its governance. Fiscal federalism is central to the funding of critical programs through intergovernmental transfers, but it is also the focus of political debates on territorial redistribution. In tackling essential questions, Fiscal Federalism in Canada contributes to the so-called second-generation fiscal federalism literature, taking stock of the critical sociological and political issues at its core.
Fiscal Federalism in Theory and Practice
by Teresa Ter-MinassianA report from the International Monetary Fund.
Fiscal Federalism in the European Union (Routledge Studies in the European Economy #Vol. 9)
by Amedeo Fossati Giorgio PanellaTo what extent should local and regional governments in the European Union be allowed to determine their own fiscal policies?This book explores the core issues of fiscal federalism in the European context. It combines theoretical and empirical analysis in addressing such questions as:* what sort of fiscal federalism is appropriate in the European Community* what are the dangers of more centralization* what are the costs of greater decentralization
Fiscal Frameworks and Financial Systems in East Asia: How Much Do They Matter?
by Wendy DobsonThis volume addresses the two key financing constraints that firms must face: taxation and finance. The taxation analysis focuses on how tax systems in selected Asian economies affect growth and the relative competitiveness of foreign and domestic enterprises. It outlines key features of the systems and provides a set of guidelines for potential foreign investors as to how these systems compare with each other (and with those in Canada and the United States) and predict future developments (including financial innovation and the internet).The study of financial frameworks focuses on corporate finance and analyzes the relationship between financing patterns and the level of development of securities markets and financial liberalization in the region. It focuses on the issue of how firms finance investments and the extent to which they depend on retained earnings and funding obtained through the market.Both studies include Japan, China, Hong Kong, Taiwan, Singapore, Korea, Indonesia, Malaysia, Thailand and Philippines. Both also consider the implications of taxation for savings and investment flows in domestic economies and across borders-and the implications of public sector demand for savings for corporate financing constraints.
Fiscal Hangover: How to Profit From The New Global Economy (Agora Series #9)
by Keith Fitz-GeraldThe rules of making money have changed-forever With the collapse of investment banks, trillion-dollar-plus government bailouts, and the Dow plunging like a rock, it's never been more important to understand-and actually profit from-the "new rules." Fact is, Fiscal Hangover, will give you an investing blueprint that will allow you to profit from the changing global economy. For the first time in 200 years, American consumers are stepping down from their position as the driving force behind the world's economy. In Fiscal Hangover, Keith Fitz-Gerald analyzes the declining power of the American consumer and introduces you to the resulting investment opportunities. Without question, the American consumer and the United States government have provided the rest of the world with liquidity in the form of cheap capital and abundant debt. But in light of recent economic events, the rules of the game have changed and that means you must change with them-if you intend on securing your financial future. Unlike most of today's finance books that simply examine the end of the American Empire, Fiscal Hangover shows you how to prepare for the fall, effectively allocate your investments, and thrive in the new global economy. This book offers specific analysis and concrete actionable steps for individual investors interested in grabbing their fair share of what will be the greatest wealth creation in the history of mankind. Examines our current financial situation and offers practical investment advice to overcome the challenges you'll face Analyzes the declining power of the American consumer and introduces you to the resulting investment opportunities Details new investing benchmarks and discusses why the old ones no longer work Explores big picture economic issues that will affect your individual investment endeavors The coming years may hold the greatest investment opportunities of our times, but in order to take advantage of this you'll need the insights that can only be found in Fiscal Hangover.
Fiscal Incentive Effects of the German Equalization System
by Annalisa Fedelino Sven Jari StehnA report from the International Monetary Fund.
Fiscal Management of Scaled-Up Aid
by Richard Allen Sanjeev Gupta Duncan Last Isabell Adenauer Kevin Fletcher Shamsuddin Tareq Gerd SchwartzThe international community has committed to scaling up aid and improving aid delivery to low-income countries to help them meet the Millennium Development Goals. Other "emerging" donors, public and private, are increasing their assistance, and debt-relief initiatives are creating space for new borrowing. Remittances to low-income countries have been on a precipitous rise, and many countries are benefiting from high commodity prices. Fiscal Management of Scaled-Up Aid explores approaches to the sound fiscal management that will be required to ensure effective and sustainable use of these flows. With a medium-term perspective and efficient use of resources in mind, this paper addresses questions that shape fiscal policy response to scaled-up aid. Drawing on IMF Fiscal Affairs Department technical assistance to member countries, it outlines factors that should be taken into account in preparing an action plan for public financial management reform and proposes specific measures that will assist countries in strengthening fiscal institutions
Fiscal Monitor
by International Monetary FundIMF staff members examine the reason for the low interest rates paid for sovereign bonds issued by the U. S. and Japan, the sustainability of fiscal improvements in emerging economies, and how long it will take to lower public debt worldwide. Appendices review the theory of fiscal devaluation, analyze past privatization transactions, and track the main determinants of stock-flow adjustments over the last three decades. Color tables and graphs are provided. Annotation ©2012 Book News, Inc. , Portland, OR (booknews. com)
Fiscal Monitor April 2013: Fiscal Adjustment in an Uncertain World
by International Monetary FundA report from the International Monetary Fund.
Fiscal Monitor, April 2020: Policies To Support People During The Covid-19 Pandemic (Fiscal Monitor Ser.)
by International Monetary FundA report from the International Monetary Fund.
Fiscal Monitor, October 2014: Back to Work How Fiscal Policy Can Help
by International Monetary FundA report from the International Monetary Fund.
Fiscal Objective in the Post IMF Program World: The Case of Albania
by Jiri JonasA report from the International Monetary Fund.
Fiscal Policy & Business Cycles
by Alvin H HansenWritten during the Second World War against the background of the economic and political futility of the 1930s, this book deals with the changing role of government, and particularly fiscal policy as an instrument for regulating the national income and its distribution. Arguing that the war had an economic basis - the inability of the great industrial nations to provide full employment at rising standards of real income - the book discusses how the failure to achieve a world order in the political sphere must be sought in the facts of economic frustration.
Fiscal Policy Convergence from Reagan to Blair: The Left Veers Right (Routledge Frontiers Of Political Economy Ser. #Vol. 53)
by Ravi K. Roy Arthur T. DenzauThe elections of Bill Clinton and Tony Blair in the 1990s saw the consolidation and completion of critical aspects of the Reagan-Thatcher fiscal agenda. This impressive book critically analyzes this process. It has been previously thought that this process of adopting common fiscal policies was caused by economic integration and globalization, Fisc
Fiscal Policy Issues During the Transition in Russia
by Augusto Lopez-Claros Sergei V. AlexashenkoSince 1992, the Russian Federation has moved away from a command economy and has laid the foundation of a market-based system. This paper examines some of the key fiscal policy issues that arose in 1992-96, the period following the onset of economic liberalization and reform.
Fiscal Policy Making in the European Union: An Assessment of Current Practice and Challenges
by Martin Larch João Nogueira MartinsThis book examines key aspects of the measurement of fiscal policy making in the EU fiscal surveillance framework, highlighting strengths and weaknesses of current assessment practice. Based on the proceedings of a workshop organized by the European Commission’s Directorate-General Economic and Financial Affairs, the book’s contributions from leading experts will be of particular value to individuals and institutions involved in the fields of national and international economics and finance. Key Features: chapters are arranged within three main sections: Long-term sustainability; Measurement of the underlying budgetary position and discretionary fiscal policy; Reliability of fiscal indicators edited by Martin Larch and João Nogueira Martins expert contributors include António Afonso, Fabrizio Balassone, Fernando Ballabriga, Roy Barrell, Peter Brandner, Peter Claeys, Leopold Diebalek, Per Eckefeldt, Jonas Fischer, Daniele Franco, Jagadeesh Gokhale, Ian Hurst, Walpurga Köhler-Töglhofer, György Kopits, Martin Larch, Carlos Martinez-Mongay, James Mitchell, João Nogueira Martins, Jan in ’t Veld, Stefania Zotteri text amply supported by charts and tables. bibliography and Index
Fiscal Policy Rules for Oil Producing Countries: A Welfare-Based Assessment
by Wojciech MaliszewskiA report from the International Monetary Fund.
Fiscal Policy Shocks and Macroeconomic Growth in South Africa: Missing Links and Policy Gaps
by Eliphas Ndou Nombulelo GumataThis book explores the disconnect between fiscal policy and macroeconomic development in South Africa. It analyses the factors that have contributed to the lack of economic growth in the country over recent decades and outlines an improved fiscal policy framework that increases investment and employment. Particular attention is given to the impact of government debt and its relationship with GDP, the connection between budget deficits and interest rates, and how economic policy uncertainty affects employment dynamics and inflation. This book provides practical fiscal policy suggestions to increase economic growth in South Africa and Africa more generally. It will be relevant to researchers and policymakers interested in African economics and economic policy.
Fiscal Policy after the Financial Crisis (National Bureau of Economic Research Conference Report)
by Alberto Alesina Francesco GiavazziThe recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth. "Fiscal Policy after the Financial Crisis" focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. In the face of uncertainty over the sustainability of recent economic policies, further contributions to this volume discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes. A final section examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning governing monetary policy. A direct intervention in timely debates, "Fiscal Policy after the Financial Crisis "offers invaluable insights about various responses to the recent financial crisis.