Exploring the negative social impact of cyber-attacks, this book takes a closer look at the challenges faced by both the public and private sectors of the financial industry. It is widely known amongst senior executives in both sectors that cybercrime poses a real threat, however effective collaboration between individual financial institutions and the public sector into detecting, monitoring and responding to cyber-attacks remains limited. Addressing this problem, the authors present the results from a series of interviews with cybersecurity professionals based in Canada in order to better understand the potential risks and threats that financial institutions are facing in the digital age. Offering policy recommendations for improving cybersecurity protection measures within financial institutions, and enhancing the sharing of information between the public and private sector, this book is a timely and invaluable read for those researching financial services, cybercrime and risk management, as well as finance professionals interested in cybersecurity.

This volume presents the history and current state of the public-private partnership (PPP) sector in Russia. It analyzes the legal and institutional framework of PPPs as well as approaches and best practices for public administrations at federal and regional level to promote PPPs. Special attention is given to the management of PPP projects in different phases of their life cycle and to the legal and financial structuring of PPP projects. In addition, the contributions highlight best PPP practices in various sectors - from transport infrastructure to information technology - and also discuss international aspects of PPP. The volume is aimed at scholars in economics and public administration as well as public decision-makers interested in modern trends in the Russian economy and the development of successful business development.

This book examines the impacts of fiscal decentralization reforms on the efficiency of local governments in Central and Eastern European (CEE) countries. By offering a comparative perspective and by applying econometric methods and regression models, it analyses various reform trajectories and their effects on individual CEE countries. Furthermore, the book discusses input and output indicators for evaluating the efficiency of municipalities. Readers will learn about the common features of these countries, the impact of path dependence, and future prospects for decentralization reforms. In closing, the book discusses modern management and administration methods, opportunities for cooperation between municipalities, co-creative service delivery, and other measures that could improve the efficiency of public service provision.

This contributed volume combines approaches of the current inequality debate with aspects of finance based on profound macroeconomic model analyses. Research on inequality has had a long tradition in economics. With the financial crisis from 2007, not only output decreased tremendously, but also inequality has risen since then. The book presents selected contributions of a workshop held at Bielefeld University in 2016 and features additional papers written by experts in the field. A mixture of established researchers and young scholars presents both theoretical and empirical frameworks to analyze the subject.

This book provides an analysis of the process and outcomes of the tax reform, with a focus on progressivity, redistribution, and inequality. Between 1977 and 1986, Spain underwent a comprehensive tax reform which shaped its fiscal system until today. It was made in connection with the transition to democracy and indeed was understood as a fundamental part of the political change. The book situates the reform both within Spanish history and international trends in tax systems and connects it to the expansion of the welfare state and regional decentralization in Spain. The analysis reveals that the tax system failed to attain progressivity, and significant levels of fraud had a noticeable impact on inequality. Because of this, fiscal redistribution remained limited. In the new political economy of the second globalization, late democratic and fiscal transitioners were unable to emulate the path of the welfare state forerunners.

This book gathers selected papers from the 29th Eurasia Business and Economics Society (EBES) Conference, held in Lisbon, Portugal. While the theoretical and empirical papers presented cover diverse areas of economics and finance in various geographic regions, the main focus is on the latest research concerning accounting/audits, banking, the economics of innovation, and empirical studies on emerging economies and international trade. Studies on labor economics and public economics, as well as regional studies, round out the coverage.

This title is the first of its kind in South Africa. It comprehensively covers the South African tax and exchange control provisions which apply to local and foreign trusts. In addition to normal discretionary trusts, the taxation of the following types of trusts is covered: business trusts; charitable trusts; BEE trusts; employee share scheme trusts; offshore trusts; special trusts; asset protection; will trusts. The following types of taxes are also discussed in a trust context: Income Tax; CGT; Transfer Duty; Donations Tax; Estate Duty; International Tax; Transfer Pricing; VAT. The first-ever book exclusively covering the direct and indirect taxation of trusts in South Africa, including a chapter on the application of the exchange control regulations to both onshore and offshore trusts.

Germany's ability to support its war machine financially has long puzzled scholars. The young nation had exhausted itself paying for its loss in the First World War, had suffered a hyperinflation in the early 1920s, and had ended the 1920s with a terrible economic depression. This is the first book in any language to examine the budget policies of the middle years of the Weimar Republic and to look at how these policies changed the politics of the time. It is also the first work to support the government's aggressive use of deficit spending and fiscal stimuli to promote economic growth. Some findings even indicate that the German government could have used creative financial solutions to avoid the worst of the Depression and to avert the Nazi regime.

Clingan explores the changes and continuities in fiscal policy and budget-making politics, beginning in the last years of the Wilhelmine Empire and continuing into the 1930s. Although this is a story about money, it is also a story about men. Very few in Nazi Germany understood the intricacies of fiscal policy and budget making, and political parties tended to follow the lead of those who did. Clingan combines their personal stories with the tale of a country still growing into its economic power and still trying to learn both its limits and its strengths.

Kula contends that conventional time-dependent theories in welfare economics are based on the unwarranted assumption that people live forever, an assumption that underpins the criteria for many decision-making activities and one that leads public sector policy makers to discriminate against future generations. It is seen in its most extreme in decision making on such long-term projects as nuclear power facilities, whose effects will be visited upon many future generations. How did this assumption gain currency and influence? Kula says, this oddity has been imposed by mathematical economists who now dominate the scene. Kula aggressively challenges these theories, which he alleges are untrue and unjust, provides an alternative method for discounting, and shows how its application can yield dramatically positive results. His book is thus a unique, important contribution to the theory and practice of decision making in public endeavors, intended not only for academics but equally for their practitioner colleagues in all parts of the world.

Kula corrects the conventional theory by assuming societal models in which individuals are mortal and generations overlap. From this emerges a new discounting theory which leads to outcomes that are dramatically different from the old ones. The new criterion is called modified discounting, and can be readily applied to real-life projects. In Part I, Kula lays out his theory and constructs the new decision-making method, in which public policy makers accept the proposition that all generations ought to be treated equitably. Then, in Part II, he provides five case studies to illustrate his theory, each devoted to major public activities such as nuclear waste disposal, forestry, agriculture, and urban transport, and based on experiences in the United States, the United Kingdom, and Ireland.

This volume presents contributions that analyse the extraordinary impact of digital technology on business, services, and the production of value in many sectors of the economy. At the heart of this book is the fact that the entire digital economy is now worth almost 6% of global GDP, and it continues to grow at an unprecedented rate. The volume covers the general debate on taxation and the digital economy with the chapters by Russo, Makiyama and Boccia, before completing the analysis with discussion of three national case studies covering the U.S. (Pagano), U.K. (Leonardi) and Italy (Boccia and Leonardi). Contributors are leading experts in the fields of taxation and the digital economy and contextualise the key issues surrounding the digitalisation of the economy from an international perspective.

This book provides an up-to-date study of public infrastructure in terms of the selection, procurement and delivery of projects. There is widespread acceptance that infrastructure is vital and needs increasing, yet less agreement about how it should be funded and procured. This book assesses in detail the features of various procurement options while also providing a framework for comparing their advantages and disadvantages. Drawing on international experiences and case studies, Darrin Grimsey and Mervyn Lewis consider some of the best and worst examples of public-private partnerships, new funding methods and infrastructure megaprojects. By offering a conceptual basis for infrastructure decision-making, the authors identify ways to improve infrastructure procurement processes. Focusing on urbanization as a driver of innovation in infrastructure, both the historical context and the future prospects of public infrastructure are analysed. Significantly, the book also examines China's ambitious plans to create a 'high-speed rail economy' and its Belt and Road Initiative across Asia that offers an interesting contrast to infrastructure developments in the United States and other advanced economies. Global Developments in Public Infrastructure Procurement is an essential source of reference for academics and students of economics, public sector finance and urban infrastructure.

This volume comprises papers presented at the 8th international conference "The Economies of the Balkan and Eastern European Countries in the Changing World" (EBEEC) held in Split, Croatia in 2016. The papers cover a wide range of current issues relevant for the whole of Eastern Europe, such as European integration, economic growth, labour markets, education and tourism. Written by experienced researchers in the field of economic challenges for Eastern Europe, the papers not only analyse recent problems, but also offer policies to resolve them. Furthermore, they offer insights into the theoretical and empirical foundations of the economic processes described. The proceedings of the conference appeals to all those interested in the further economic development of the Balkan and Eastern European countries.

Comparative Public Policy provides the first truly systematic and comprehensive account of the transformation of the post-war state in the advanced countries of the Western world. The author generates new research findings which show how the economic, social and political changes of the post-war era have reshaped modern public policy across the OECD region. Francis G. Castles examines the growth of big government and the emergence of the modern welfare state and identifies ways in which the role of the state has impacted on labour markets and such personal issues as home ownership, fertility and divorce. He explains why the trajectory of policy transformation has varied from country to country, with immediate post-war policy laggards sometimes becoming leaders, and erstwhile policy pioneers on occasions stagnating. This innovative book presents a wealth of background data and a huge range of new findings, covering 12 policy areas in 21 advanced industrialized countries over a period of more than three decades. Comparative Public Policy is essential reading for students and scholars who wish to understand the dynamics of contemporary social and political development.

Tax avoidance and evasion have an important effect on the economic development of every economy. Developing economies are particularly vulnerable to tax avoidance and evasion due to inadequacies in their institutional framework and the lack of sufficient expertise and resources to monitor the intricacies of this issue. Given the far-reaching effect of revenue losses due to tax noncompliance, many developing countries have undertaken tax reforms to improve their tax administration and implemented various anti-avoidance measures to combat tax evasion. This book provides an overview of recent tax reforms and institutional frameworks of four major developing economies, China, India, Brazil, and Mexico, with a focus on China. Most important, this book investigates the tax avoidance behaviors as well as their anti-avoidance legislation. In particular, this book includes an in-depth empirical study on tax noncompliance behaviors of foreign investors detected by the Chinese tax authorities. The empirical evidence on how tax policy and other corporate factors affect tax avoidance behavior helps public policy makers improve tax compliance through designing legislative and administrative measures. Though the findings pertain to China, the largest developing economy, the results should be a useful reference for other developing countries.

This first part of a two-volume series examines in detail the financing of America's major wars from the American Revolution to the Civil War. It interweaves analyses of political policy, military strategy and operations, and war finance and economic mobilization with examinations of the events of America's major armed conflicts, offering useful case studies for students of military history and spending policy, policymakers, military comptrollers, and officers in training.

In recent years, crowdfunding has become important and it has been enthusiastically used not only by commercial organizations but also by the public sector. This alternative source of financing in times of constrained government budgets enables citizens to vote with their dollars online to bring ideas into reality. This book sheds light on the developing concept of crowdfunding in the public sector, with an overview of current academic discussions and best practices on crowdfunding in the public sector. The volume approaches crowdfunding in the public sector from an integrated perspective, addressing the dearth of publications on the subject. The book gathers a wealth of theoretical information, ideas, best practices and lessons learned in the context of executing concrete crowdfunding projects, and assess methodological approaches to integrating the topic of crowdfunding in public organizations curricula. The book provides definitions, insights and examples of this managerial perspective resulting in a theoretical framework of crowdfunding in the public sector. The contributors also explore different crowdfunding applications in public sectors such as local government, higher education, schools, arts & culture organizations, healthcare, energy sector, and police services, which are presented in several case studies. This is a unique book in the field that points the way forward both for policymakers and for the research community in terms of thinking about crowdfunding in the public sector and the complex issues surrounding its development.

Multinational corporations face different tax systems in different countries that require careful tax planning. A systematic approach is needed to minimize and avoid unnecessary business taxes. Some core issues of international taxation are part of a successful corporate tax plan in an international context. The first issue is a good understanding and appreciation of the principles of international taxation that include the different philosophies of taxation, the different kinds of taxes, the different tax systems, the different tax treaties and potential tax havens. The second issue is a thorough understanding of U.S. taxation of foreign income to avoid double taxation and the computation of foreign tax credits. The third issue is the choice of a transfer pricing method and the compliance with tax regulations on both the transfer of tangible and intangible assets. The fourth issue is the intelligent use of tax vehicles for exporting which can generate substantial savings and reduce the effective tax rate and involve the choice between the interest-charge domestic international sales corporation and the foreign sales corporation. A final issue is the efficient use of value-added taxation for activities taking place outside the U.S., and a new appreciation of the potential of this form of taxation for the United States. Practicing accountants, academics, business executives, students, legislators, and others who want a better understanding of the complex issues of international taxation will be interested in this book.

This textbook equips instructors and students with an overview of the existing literature so that the latter can attain an overall understanding of macroeconomic and microeconomic public finance. The literature on public finance has grown dramatically with theoretical studies and empirical analysis, and much of the focus has been on macroeconomic effects of public services. The standard textbook offerings, however, are mainly restricted to microeconomic topics of public finance. This text intends to fill this gap by presenting a theoretical-based, comprehensive explanation of public finance. Particular emphasis is directed at developing tools that can be applied theoretically and empirically to clarify essential economic concerns in the current public sector in advanced countries, including Japan. Such concerns include the macroeconomic effect of fiscal policy, the dependence on bonds for covering government deficits, and social security reform. The main text explains the standard concepts of public finance, and the appendix offers various advanced topics. The material will facilitate an understanding of how to investigate changes in the public sector, interpret results, and basically do research on fiscal policy. The textbook will be of value to a broad range of course offerings, including those generally focused on fiscal policy, on social security reform and on tax reform.

This book provides an insight into commercial relations between large economies and Small States, the benefits of regional integration, the role of Small States as financial centres as well as B2B and State to State dispute resolution involving Small States. Several contributions allow the reader to familiarise themselves with the general subject matter; others scrutinise the particular issues Small States face when confronted with an international dispute and discuss new and innovative solutions. These solutions range from inventive ideas to help economic growth to appropriate mechanisms of dispute resolution including inter-State dispute resolution and specific areas of arbitration such as tax arbitration. Researchers, policy advisors and practitioners will find a wealth of insights, information and practical ideas in this book.

In 1958, 1976, and 1985, Argentina experienced severe imbalances of its external accounts, which led to attempts at economic stabilization through an agreement with the International Monetary Fund. This book examines these IMF-supported programs and their success in alleviating Argentina's economic problems. Luigi Manzetti explores three aspects of the issue: the programs' impact on the Argentine economy from a policy management perspective; the methods by which different political regimes coped with similar problems and the level of their success; and the relationship between economic stabilization and political institutions, with particular emphasis on why IMF-supported programs encounter problems and how these problems can be overcome.

Exploring the previously overlooked relationship between economic and public policies, Manzetti begins his study by examining the balance of payments problems that afflict developing countries along with the role played by the IMF in solving them. He assesses IMF involvement both in terms of economic theory and policy recommendations, portraying the academic debate that for years has surrounded the IMF. The peculiarities of the Argentine case are outlined, as are contending interpretations of the country's chronic economic crises. A set of three chapters fully details the stabilization plans of the Frondizi, Videla, and Alfonsin administrations. Finally, a concluding chapter argues that wrong assumptions by the IMF and the mistakes of Argentina's policy makers were responsible for the limited success of the programs. This work will be an important reference tool for courses in economic development and Latin American studies, as well as a useful resource for academic and professional libraries.

Vogel views health care within the context of total Sub-Saharan economic systems, emphasizing the output of health-care programs (i.e., healthier people) and the most cost-effective ways to maximize that output. He recommends shifting public financing resources from the hospital sector to primary and preventive care, in order to reposition financial resources away from the colonial and post-colonial period of concentration upon cost-ineffective hospitals and toward the direction emphasized by the World Health Organization.

The US tax and reporting rules applicable to foreign trusts - principally embodied as Subchapter J of the Internal Revenue Code of 1986, as amended - are notoriously complex. Now, with this volume, anyone who has to deal with these rules can find their use and meaning clearly explained, and proceed confidently to the best outcome in any situation where they apply. This guide covers all the following topics in detail: regular nongrantor (or accumulation) trusts of both the "simple" variety and the "complex" type with its challenging "throwback" rules and interest charge on accumulation distributions; the circumstances under which certain foreign trusts, such as section 672(f) (barring the application of the normal grantor trust rules to certain foreign trusts), section 643(h) (relating to distributions by certain foreign trusts through nominees), and section 643(i) (relating to loans from foreign trusts); reporting and penalty provisions and the accompanying IRS forms; and special issues, such as those surrounding incoming immigrants and outgoing expatriates. The book provides modified versions of the principal IRS forms (3520, 3520-A, 4970, 1040NR, and 1041) that are commonly filed for foreign trusts. These modifications, which scrupulously follow all applicable IRS rules, are much easier to use than the actual forms for the purpose of foreign trusts. Numerous examples throughout the book clarify the valid procedures and alternatives available at every point, a feature particularly useful in applying provisions that still await settled regulation and case law. Compliance issues that may arise on IRS audit are also examined. Professionals and advisors in law, tax, accounting, banking, and securities; settlers and beneficiaries; and students and academics both within and outside the United States should find this an informative and useful volume.