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Books > Money & Finance > Public finance > General
"In recent years, workers earnings have hardly grown, violence and crime have plagued the inner cities, homelessness and public begging have become commonplace, and family life has greatly deteriorated. With governments facing large deficits and slowly growing revenues, and public distrust in the efficiency of government and elected officials at all-time highs, the authors ask, ""What can government do for you?"" This book brings together a prominent group of experts to answer this critical question. Edited by Henry Aaron and Charles L. Schultze, two of the nation's most noted and experienced economists, the book focuses on the crucial domestic and social issues confronting America today. Seven vital areas are discussed by the following contributors: Henry Aaron on health care; Gordon L Berlin and William McAllister on homelessness; Linda R Cohen and Roger G. Noll on research and development; John J. DiIulio, Jr., on crime; Frank Levy and Richard J. Murnane on education and training; Isabel V. Sawhill on children and families; and Clifford M. Winston and Barry P. Bosworth on infrastructure. In each problem area, the authors use the results of research and analysis to identify existing or proposed governmental interventions that are likely to work, as well as some that are likely to fail and some that need to be reformed. They then present a budget proposal that not only pays for suggested changes in domestic policy, but brings the budget into virtual balance in ten years. "
This book addresses the financing of government budgets with non-debt-creating flows through risk-sharing capital market instruments. It offers a comparative analysis with conventional finance to demonstrate the ability of Islamic capital market instruments to create an impetus for economic stability and growth. Rizvi, Bacha, and Mirakhor guide readers chronologically through the unfolding effects of macroeconomic policy implemented to reduce crippling sovereign debt, increase government financing, and guide governments to the path of economic progress.
The Field of Public Economics has been changing rapidly in recent
years, and the sixteen chapters contained in this Handbook survey
many of the new developments. As a field, Public Economics is
defined by its objectives rather than its techniques and much of
what is new is the application of modern methods of economic theory
and econometrics to problems that have been addressed by economists
for over two hundred years. More generally, the discussion of
public finance issues also involves elements of political science,
finance and philosophy. These connections are evidence in several
of the chapters that follow.
This book is the first English language edition of Le Commerce et le Gouvernement by the distinguished eighteenth century economist and philosopher Condillac. It was one of the most original contributions to French economics in the eighteenth century. In this edition the editors provide an English translation of the original and a comprehensive account of Condillac's life and contribution to economics. In the late eighteenth century Condillac used the clarity and precision of thought of a leading philosopher to derive a fundamental set of economic principles and their implications for policy. He arrived at the same free trade conclusions as Adam Smith, and Le Commerce et le Gouvernement was published in the same year as The Wealth of Nations. Condillac's economics was initially condemned by the physiocrats because in his utility-based analysis, industry and commerce and not just agriculture contributed to the wealth of France. The original French edition was quickly dismissed by those in positions of power in France who preferred dirigism to competition, while across the Channel the British were unaware of its existence. The importance of Condillac's contribution to economics was recognised after the marginal revolution of the 1870's. In the eighteenth century Condillac won the respect of Voltaire and Rousseau, and the high regard of the King and the Church. His work has since been admired by Allais, Hayek, Menger and Weulersse, while Jevons believed that it provided the first distinct statement of the true connection between value and utility. Commerce and Government will be of special interest to historians of economic thought and those interested in the economic history of the eighteenth century.
Public debt has become a severe problem for a great many economies. While the effects of tax policies on the allocation of resources are readily derived, the mechanisms that make public deficits and debt influence the economy are not so easily understood. This book elaborates on the effects of public debt starting from the intertemporal budget constraint of the government. It is shown under which conditions a government can stick to the intertemporal budget constraint and then, demonstrated how public debt affects the growth process and welfare in market economies. The effects are derived for models with complete labor markets as well as taking into account labor market imperfections. The focus in this book is on fiscal policy issues, but it also deals with monetary policy aspects. The theoretical analysis is complemented with empirical time series analyses on debt sustainability and with panel studies dealing with the relationship between public debt and economic growth.
Topicality of Asian economy has refused to fade for almost four decades; if anything it has been levitating. The Asian economy has changed markedly since the economic and financial crisis of 1997-1998 and is continuing to evolve. As a scholarly subject matter, Asian economy has not stopped attracting academicians, policy mandarins, decision makers in the arena of business and students of Asian economy. The Asian crisis was a cataclysmic event for the region and brought to the surface several systemic limitations, like those in the financial sector, corporate governance, regulatory oversight, legal framework, and exchange rate management. Managers of Asian economy need to get to the bottom of these acutely problematical systemic issues. Additionally, Asian economies need to change with the demands of time and devise their post crisis development strategy. Asia's growth model, that served it so well for four decades, is overdue for renewal so that it can re-strengthen its bonds with the ever-evolving regional and global economic reality. The old growth model is likely to be less relevant and effective in the post-crisis future of the Asian economies. feature of Asian Economy and Finance: A Post-Crisis Perspective is that unlike most Asia-related books, it is written in a comprehensive and authoritative manner and covers large areas of Asian macro-economy and finance. The noteworthy areas of focus include global and intra-regional trade and investment, as well as financial and monetary aspects. In-depth discussions have been provided on regional integration through expanding trade, financial flows, regional production networks, and financial and monetary co-operation. In taking a contemporary or post-crisis view of the Asian economy, this book offers the newest knowledge related to relevant themes on the Asian economies as well as the latest concepts. In a succinct manner, this book deals with the principal normative and positive strands with which one need to be properly familiar in this subject area. This tightly written volume covers a great deal of ground and imparts knowledge on the Asian economy related themes to students, researchers and policy makers alike. The book is neither overly technical nor model-oriented. analysis style, which stops short of mathematical formulations and econometric modeling. Many students and other readers who have good analytical minds and sound knowledge of economic principles feel lost in mathematical formulations. This writing style makes it accessible to a much larger number of readers.
This book aims to provide knowledge on how infrastructure is planned and built in a typical developing country, and what key variables are there in the system limiting the efficient use of public investments in infrastructure. The book begins with a comprehensive literature review on construction and economic development, and trade and economic development. The focus of the book is on the case of Vietnam, with lessons drawn for other developing economies. The book employs the mixed use of data to provide a stronger basis for analysis and interpretation of related government policies. Based on the research findings, the book recommends significant capacity building work for Vietnam to develop capacities that would remove constraints on the efficient use of public investments in infrastructure. The general principles of significant capacity building work which are useful for policy implications are introduced in the book. Analysts, academics, public and private communities in developing countries can adopt the research findings as guiding principles to bring about changes in their current use of public investments in infrastructure, thus supporting their trade and economic growth in the long term.
This first major book on Public-Private Partnerships (PPP) in Nigeria explores the legal, policy and strategic issues involved in the structuring and execution of PPP projects in Nigeria. The book goes beyond the toolkit approach of other available resources to blend the theoretical analysis of concepts with practical step-by-step guides for consummating projects. The book adopts a multidisciplinary approach by integrating law, economics, finance and project management literature, relying on the author's extensive experience in the field to give clear insights on the PPP concept. The case study methodology employed in the book produces rich and compelling empirical results. This book is suitable for beginners wishing to develop an understanding of the concept, as well as practitioners advising on PPPs. Students and academics wishing to carry out further research on PPPs will also benefit from the book.
This book first shows that the past 40 years of China's economic reform and opening up represents the greatest magnitude of economic growth in history. Based on field trips, extensive and intensive interviews and literature surveys, this book argues that there are five general lessons for a rapid growing economy from China's economic reform and opening up, all in the area of the relationship between the government and the economy. First, the local governments need to be incentivized to help rapid entry and development of enterprises. Second, local governments need to be incentivized to help rapid land conversion from agricultural to non-agricultural. Third, financial deepening is vital; that is, inducing households to hold more and more financial assets in local currency. Financial deepening is essential to convert savings into investments. This requires financial stability, which is crucial. Fourth, the learning through opening up is the key to endogenous economic growth. The fundamental benefit of opening up is learning rather than enjoying comparative advantage. The fifth and final lesson from China is that the central government must proactively manage the macroeconomy. The rationale is that enterprises compete with each other in games of industrial organization. In order to resolve this problem, proactive measures including market-oriented means, administrative orders and reform measures should be implemented. Overall, the main lesson from China's past 40 years of reform and opening up is that proper incentives and behavior of the government, local and central, are important for economic growth. China has been conducting reforms in this regard and as a result, the government more or less has been playing the role of a "helping hand" regarding economic growth, although China's economic system is far from perfect and many reforms are still needed.
After a massive international campaign calling attention to the development impact of foreign debt, the Heavily Indebted Poor Countries (HIPC) initiative is now underway. But will the HIPC Initiative meet its high expectations? Will debt relief substantially raise growth? How do we make sure that debt relief benefits poor people? And how can we ensure that poor countries do not become highly indebted again? These are some of the key policy issues covered in this rigorous and independent analysis of debt, development, and poverty. JEAN-CLAUDE BERTHLEMY Professor of Economics, University of Paris 1 Pantheon Sorbonne, France ARNE BIGSTEN Professor of Development Economics, G/teborg University, Sweden NANCY BIRDSALL Founding President, Center for Global Development, Washington, USA ABDUR R. CHOWDHURY Director, Economic Analysis Division, United Nations Commission for Europe, Geneva, Switzerland STIJN CLAESSENS Professor of International Finance, University of Amsterdam, The Netherlands ERA DABLA-NORRIS International Monetary Fund, USA ISHAC DIWAN Company Director for Ethiopia and Sudan, World Bank, USA BENNO FERRARINI Director of Economic Research at the World Trade Institute, Switzerl
This work explores how reshaping budget rules and how they are applied presents a preferred means of public sector budgeting, rather than simply implementing fewer rules. Through enhanced approaches to resource flexibility, government entities can ensure that public money is used appropriately while achieving the desired results. The authors identify public budgeting practices that inhibit responses to complex problems and examine how rule modification can lead to expanded budget flexibility. Through a nuanced understanding of the factors underlying conventional budget control, the authors use budget reforms in Australia to show the limits of rule modification and propose "rule variability" as a better means of recalibrating central control and situational flexibility. Here, policy makers and public management academics will find a source that surveys emerging ways of reconciling control and flexibility in the public sector.iv>
There has never been a more urgent need for governments to secure
adequate and stable resources for social development: inequalities
are on the rise, a severe global food crisis threatens to eliminate
the achievements some countries have made over recent years, and
the neoliberal policy toolkit has been largely discredited.
This book analyzes the relative balance of bargaining power between governments and the banks in charge of underwriting their debt during the first financial globalization. Brazil and Mexico, both indebted countries that underwent major changes in reputation and negotiating power as they faced financial crises, provide valuable case studies of government strategies for obtaining the best possible outcomes. Previous literature has focused on bankers' perspectives and emphasized that debtors were submissive during negotiations, but Weller finds that governments' negotiating power varied over time. He presents a new analytical framework that interprets when and why officials were likely to negotiate loans more or less effectively, with newly uncovered primary sources from debtors' and creditors' archives suggesting key causes of variation: fiscal accounts, political stability, and creditors' exposure and reputation.
Financing European Transport Infrastructure examines organisational arrangements for planning and financing transport infrastructure in Western Europe. It covers all modes of transport - road, rail, sea, air, urban, and inland waterways - and asks why their financing arrangements are so different. It looks at the division of responsibilities between central and local government, and the growing role of autonomous public bodies, the European Commission and private finance. It examines the consequences of investment failing to keep up with demand - in congestion, environmental damage and slower growth - and the impact of new approaches, including public-private partnerships.
Presenting capitalisms as open, system-like configurations, this book argues four ideal-typical varieties (liberal, statist, corporatist, meso-communitarian) and analyzes the socio-economic performances of advanced capitalisms.
European welfare states are currently under stress and the 'social contracts' that underpin them are being challenged. First, welfare spending has arguably 'grown to limits' in a number of countries while expanding everywhere in the 1990s in line with higher unemployment. Second, demographic change and the emergence of new patterns of family and working life are transforming the nature of 'needs'. Third, the economic context and the policy autonomy of nation states has been transformed by 'globalization'. This book considers the implications of these challenges for European welfare states at the end of the twentieth century with interdisciplinary contributions from first-rate political scientists, economists and sociologists including Paul Ormerod.
This is a basic examination of basic tax systems, for both Layperson and Student. It describes the various forms of tax, both historical and theoretical. It examines each in turn, bringing insight to its advantages and hazards. The Author gives a cursory study of tax impacts, the problems of tax collection, and the amounts of revenue, which can be expected. The basic thesis of the Work consists in the idea current American methods of tax form and tax collection need serious revision. The Author attempts to express why he holds this belief, the observed detriment to economic performance of current tax placement, and the causes of such economic disadvantage. He presents potential alterations to the current tax intermix, suggesting consolidation of tax forms would present savings in cost of tax collection, and ease of payment to Taxpayers. He outlines his beliefs on the proper tax system for American society.
This book explores new forms of private, mutual municipal, public-private and "reverse" state funding of public investments, co-payments and shared contributions, vouchers, and pooled public risk-financing. It includes case studies taken from the Nordic countries, UK, Spain, Slovenia, Slovakia, Turkey and South Korea.
A wide-ranging survey of the theory and evidence on public goods, presenting the main literature on public goods, both theoretical and empirical, in a systematic manner. The breadth and depth of the book's coverage extends the existing literature in many ways.
Monetary policies and international standards and norms on banking
regulations have, once again, come to the forefront of the policy
discussion in developed nations due to the recent crisis in the
world's financial markets. This discussion is far from new, nor
does it apply exclusively to the world's most advanced economies. A
stable monetary policy and a sound and well-enforced regulatory
regime can help developing nations channel financial resources more
efficiently into investments. For open economies it can also act as
a buffer, an important stability factor in today's shaky market
environment.
This book features the main papers of Gunter Schmolders (1903-1991), a pioneer in economic psychology for the first time in the English language. Schmolders incorporated psychological considerations in his economic analyses at a time when the distance between the two disciplines was much larger than today. His research on 'fiscal psychology' is of particular and lasting interest, impacting greatly on continental economics. During his lifetime, Schmolders failed to build bridges to enable his contemporary fellow economists to appreciate the importance of his work, however the relevance of his approach is much more obvious in the world's current economic climate.
This book offers a comprehensive assessment of the Mauritian economy and its financial system. The author investigates the pre- and post- crisis financial and economic environment of Mauritius thoroughly and looks to the future potential development of the economy. Chapters feature in-depth analysis of such aspects as the banking sector, the stock market, monetary policy, capital structure, the hedging practices of Mauritian firms, and the housing market in Mauritius, among others. Moreover, the author not only builds a credit risk model for Mauritian bankers, but also develops a financial stability model to provide the reader with a full account of the Mauritian economy. The author ends with a chapter dedicated to a 2030 vision for Mauritius. This book will be of interest to researchers, students, policy-makers, central bankers and economists who wish to explore an example of an upper-income developing economy in depth.
Population ageing has been the subject of much discussion in recent years, often expressed in alarmist language that advocates evasive policy action to avert an imminent demographic crisis. This forward-looking book evaluates the debates surrounding population ageing and offers a more optimistic outlook on its effect on the economy.William Jackson initially considers general theoretical approaches to population ageing, particularly in relation to the rising dependency burden. He then goes on to examine traditional topics such as employment, productivity, pensions and social security, along with less traditional topics such as informal care, within the context of long-run structural changes. The author draws on an extensive range of economic literature and considers neoclassical arguments before analysing the issue from a non-neoclassical economic, social gerontological and sociological perspective. He maintains that conventional economic theory tends to overstate the effects of population ageing on the economy. Thus, he argues that while population ageing is a complex issue requiring some policy adjustments, it is a less acute problem than is suggested in popular and academic discussion. This book will be of great importance to scholars and students with an interest in population economics and the economics of social policy.
Population ageing is an important trend which will be experienced in industrialized countries in the early years of the next century. This significant book examines aspects of population ageing and pensions, with an emphasis on the design and use of simple economic models to focus on particular aspects of a very broad problem. The analysis of pensions presents many complex problems. A major aim of this book is to demonstrate how reasonably simple economic models can be designed and used to shed some light on the issues involved in population growth and pension provision. The basic analytics of population growth and pension structure are first explored. Projections for Australia are examined and used to model ageing and social expenditure and to estimate the 'burden' of aged care on future workers. The author goes on to investigate pensions and pension finance, and examines several types of economic model before turning to the analysis of alternative pension arrangements using a lifetime simulation model. The results of the study suggest that both lower contribution rates and a universal pension encourage a later retirement age. This book will prove invaluable to students and scholars of public sector economics, welfare economics, social economics and public finance.
The athor views the fiscal crisis as both a product and the process of class struggle. . . . Interview data and documents are combined to present a useful and interesting counter-perspective sensitive to the contingencies of struggle. Choice |
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