This analysis of the political economy of government debt is divided into two parts. The first part deals with theoretical issues. Topics covered include: behavioural aspects; long term debt strategy; the political economy of redistribution; a model of intergenerational redistribution; the relationship between social security and the deficit in the US; the consequences of endogenous technology; and budgetary and monetary issues related to European integration. The second part of the volume concerns empirical applications, including the empirical relevance of the notion of debt neutrality; the management of the nominal government debt; the global linkages between interest rates and public debt; functional finance; some positive theories of government debt; and suggestions for fiscal indicators.

How does gubernatorial and legislative influence over state spending vary across the American states? This is the question that Governors, Legislators, and Budgets sets out to answer. Clynch and Lauth offer case studies from all areas of the country. Demographically, they range from very rural to heavily urban. They also show a wide diversity in their center of power. Some have their power strongly resting with the governor. Other states show domination by the legislature, and still others paint a picture of evenly dispersed power. This volume provides the contextual richness needed to understand the executive-legislative interaction which occurs during the recurring budgeting process. Chapters two to four focus on strong executive states with gubernatorial domination, approaching the executive centered process envisioned by reformers. The next four chapters concentrate on a variety of states in which the legislature retains the ability to effectively challenge the executive. The remaining chapters examine states with legislative influence and those with unusual arrangements. A closing essay by Clynch and Lauth completes the volume.

In a dramatic and well-argued challenge to the prevailing wisdom, Prosperity and Public Spending, first published in 1988, contends that the failure of Keynesian economics has been due to its timidity. Far from contracting, the government must expand its powers and activities, in order to achieve and maintain economic prosperity. The need for such expansion arises from the fact that the system has developed from a craft-based economy to a mass-production network with sophisticated international finance. This "transformational growth" brings about irreversible and sometimes devastating changes, requiring government action. Professor Nell argues that a lack of government action in the decade prior to the book's initial publication was responsible for the stagnation of the economy and he asserts that this could only be overcome by a determined policy intervention and the political will to achieve dominance over private capital.

Leading national experts examine the importance of sales tax as a revenue source in the U.S. and describe key factors that will determine its role in government revenue structures of the 21st century. This book offers a timely analysis of cutting-edge issues that affect both the private and the public sector, including reform, emerging technologies, interstate dimensions, auditing techniques, federal policy and more. Policymakers, tax administrators, analysts, and business professionals will find this work of great value.

This multiauthor reference handbook gives a detailed, objective picture of the evolution, structure, and processes of public administration in representative Third World countries. Written by an international group of specialists with first-hand knowledge of the subject, it presents empirical studies of developing nations in Asia, the Middle East, North and Sub-Saharan Africa, the West Indies, and Latin America. The resulting data are shaped by the editor into a theoretical framework delineating the complex relationships of state, bureaucracy, and class in the Third World.

SubramaniaM's introduction provides a critical overview of development literature in the field. Each case study begins with an historical introduction and discusses the political, executive, and the administrative structures and processes. Among the specific topics covered are public enterprises, administrative departments, personnel, financial administration, and regional and local administrative units. The majority of the systems studied are affected by the unregulated power of public enterprises, the persistence of colonial legacies, and the elitism of the bureaucracy. The concluding section relates these common elements to the sociohistorical characteristics of the middle-class groups that dominate both politics and public administration. Offering new research findings and a useful theoretical synthesis, this study will promote a clearer understanding of the internal political processes of Third World nations and be of compelling interest to specialists and students concerned with Third World political economy, comparative government, and international political economy.

This fifth volume is part of a series which serves as a research annual for the publication of academic tax research. Topics covered in this title include an analysis of the effects of tax law instability and preferential capital gain treatment on investment in risky areas.

The taxation of equity derivatives and financial products is analyzed in detail by Tony Rumble and his contributors, Mohammed Amin and Ed Kleinbard. The book covers the financial and tax technical analysis of issues relating to equity derivatives and financial products. Part I examines the derivatives building blocks and financial market/corporate finance drivers of the equity derivatives and financial products market, and includes case studies of typical and landmark transactions. Part II looks at the tax technical rules in each of the target countries and examines the specific products highlighted in the first part of the book.

This chapter has set out in detail the models which are employed below in order to analyse the labour market effects of changes in tax rates and in alterations in the tax structure. The fundamental mechanisms underlying the different approaches have been pointed out. Moreover, vital assumptions have been emphasised. By delineating the models which are used for the subsequent analyses, implicitly statements have also been made about topics or aspects which this study does not cover. For example, all workers and firms are identical ex ante. However, ex-post differences are allowed for, inter alia, if unemploy ment occurs or if some firms have to close down. These restrictions indicate areas of future research insofar as that the findings for homogeneous workers or firms yield an unambiguous proposal for changes in tax rates or the tax structure in order to promote employment. This is because it would be desir able for tax policy to know whether the predicted effects also hold in a world with ex-ante heterogeneity. Furthermore, the product market has not played a role. Therefore, repercussions from labour markets outcomes on product demand - and vice versa - are absent. 55 Moreover, neither the process of capital accumulation, be it physical or human capital, nor substitution pos sibilities between labour and capital in the firms' production function are taken into account. Finally, international competition is not modelled."

Essays on Cooperative Games collates selected contributions on Cooperative Games. The papers cover both theoretical aspects (Coalition Formation, Values, Simple Games and Dynamic Games) and applied aspects (in Finance, Production, Transportation and Market Games). A contribution on Minimax Theorem (by Ken Binmore) and a brief history of early Game Theory (by Gianfranco Gambarelli and Guillermo Owen) are also enclosed.

This book addresses the optimization of taxation systems, a topic currently being explored by scholars all over the world. It puts forward a critical opinion on the problem and offers an original approach to solving it - through informatization. The target audience of the book includes not only scholars and experts who professionally deal with taxation optimization issues, but also representatives of public authorities, and the general public. The book offers sound and practical solutions for the informatization-based optimization of taxation systems, and its conclusions and recommendations could be used in the management of tax systems for modern economic systems and in taxation optimization for specific economic subjects - individuals and organizations alike - , ensuring a broad range of practical applications.

What constitutes a good life? For most people, well-being involves more than a high income or material prosperity alone. Many non-material aspects, such as health, family life, living environment, job quality and the meaningful use of time are at least as important. Together, these factors also influence the degree to which people are satisfied with their lives, and help to determine how happy they feel. This book argues that happiness and life satisfaction do not form a good basis for measuring well-being, and proposes an alternative method that not only considers the various aspects of well-being, but also the fact that people have their own views on what is important in life. Not limited just to theory, the book also presents a large-scale, representative survey involving more than 3000 adults from over 2000 Belgian families, which charted the various aspects of the individual well-being of Belgians. Focusing on the unequal distribution of these various aspects of well-being within families, the survey showed that some Belgians are more likely to suffer from cumulative deprivation in multiple dimensions. Based on this innovative study, the book describes which people in society are worst off - and these are not necessarily only people on low incomes or those who feel unhappy - and proposes that policymakers prioritise these individuals.

This book discusses the latest developments in the China Pilot Free- Trade Zone strategy. It puts forward and explains the idea that building the Shanghai Pilot Free-Trade Zone (SFTZ) is a national test, as it is a major strategic decision to help China cope with the new situation resulting from opening-up and the further implementation of the reform. Based on China's strategic demand in the era of globalization, this book takes into account the global structure of trade, investment and changes in standards, and studies the system of SFTZ. Moreover, based on the national strategy of building international-caliber free-trade zone, it compares the SFTZ with other established free-trade zones and free-port cities. It reveals the overall SFTZ framework and explains in detail aspects of the financial system, investment management, trade supervision, taxation, offshore trade and finance, government system reform, plus the linkage mechanism of building Shanghai as an international economy, finance, trade and shipping center.

This book presents state-of-the-art research in political economy dealing with the decision making process under different political institutions. It focuses on the role that states and governments have on political outcomes and on the well-being of individuals, taking into account the differences that arise across autocracies and democracies and within political regimes. The research in this book is embedded with the political economy and social choice traditions and uses the rigorous frameworks of economics, political science and social choice theory to show how institutional settings shape social choices of a group of individuals or a nation. The contributions in this volume use a variety of cutting-edge game theory and mathematical tools as well as data and simulations that coupled with statistical techniques help us gain greater insights into these issues.

This book explores the wave of liberalization reforms experienced by OECD network industries. Focusing on the telecommunications sector, the authors analyze the latest data available on liberalization and privatization, and following a political economics approach, they integrate standard economic analysis with the most recent studies of the political determinants of market-oriented policies. The book presents new econometric evidence on several policy issues, including institutional complementarities dynamics, the problem of policy sequencing and the role of government political ideology. The detailed and comprehensive discussion offers insights into how so many countries adopting similar reforms actually differ in their policy "bundling", intensity and implementation of liberalization and privatization.

Comparative study of public enterprise management in different countries around the world, pointing to historical trends and current issues and problems. Experts survey an interesting collection of countries in the Americas, Asia, the Middle/Near East, Europe, and Australia. They also discuss public enterprise management education. References with each chapter contribute to the usefulness of this assessment for political scientists, public administrators, international businessmen, and those engaged in international studies.

The various dimensions of the changes to the EC budget induced by Maastricht are explored in this volume. Based on the theory of fiscal federalism, this book discusses important aspects of multilayer government finance for existing federations: Australia, Germany, Switzerland and the United States. Paul Bernd Spahn sketches the effects of an Economic and Monetary Union (EMU) onto the Community budget, and a systematic treatment of revenue instruments for its future financing concludes the analysis. The main emphasis of the work is on revenue raising for the EC under EMU.

This book is the follow-up to How to Get a SARS Refund, which explained individual taxes. How to Get a SARS Refund for Small Businesses explains small-business tax and is written in easy-to-understand language. The practical examples in the book will allow those who have never studied the subject to understand the tax rules quickly and easily, and will provide aspiring entrepreneurs with extra confidence to take that first step on their business adventure. Current business owners will gain a better understanding of how their business operates.

The book covers different types of tax that a small-business owner may encounter, including income tax, VAT, pay-as-you-earn (PAYE) and dividends tax. The book details how different types of entities are taxed, such as a private company compared with a sole proprietor.

How to Get a SARS Refund for Small Businesses aims to bridge the current education gap that exists for entrepreneurs and small-business owners who were never taught about tax in school or at university.

This book discusses the extent and nature of COVID-19 pandemic in India and its effect on the society and economy. The suggested management practices discussed here are also not stereotype. At the same time, it highlights deficiency in development fundamentals in India on several dimensions, especially health, education, quality of public spending, taxation orientation, external trade involvement across states, etc., deficiencies which create an inbuilt bottleneck toward the creation of a more equal society. While discussing these, the book throws light on how they were expectedly exacerbated by the sudden negative shock in the form of COVID-19 pandemic. Thus, the book has highlighted the COVID pandemic and its response in India in the background of certain less discussed aspects of development fundamentals.  The contents would be of interest to researchers and students studying socioeconomic aspect of developmental economics and also to policy makers and non-government entities involved in mitigating effects of pandemic in the socioeconomic sphere.

Since World War II the subject of social choice has grown in many and surprising ways. The impossibility theorems have suggested many directions: mathematical characterisations of voting structures satisfying various sets of conditions, the consequences of restricting choice to certain domaines, the relation to competitive equilibrium and the core, and trade-offs among the partial satisfactions of some conditions. The links with classical and modern theories of justice and, in particular, the competing ideas of rights and utilitarianism have shown the power of formal social choice analysis in illuminating the most basic philosophical arguments about the good social life. Finally, the ideals of the just society meet with the play of self interest; social choice mechanisms can lend themselves to manipulation, and the analysis of conditions under which given ideals can be realised under self interest is a political parallel to the welfare economics of the market. The contributors to these volumes focus on these issues at the forefront of current research.

Urban governance in most western democracies has seen various forms of public-private concerted actions becoming increasingly important instruments for local governments. These new features of urban governance are often seen as local governments trying to enhance their "capacity to act" by fusing their capabilities with those of other major societal actors. At the same time such transgressions of the border between the public and the private spheres of society make local governments more susceptible to political pressures from those actors. This volume looks at the historical development and present performance of public-private partnerships for local economic development in western Europe and the United States. The theoretical framework applied in the volume is derived from theories of governance as well as from institutional theory.

This book elaborates on how Norway has managed to convert a large fraction of its endowment of hydrocarbons below the seabed of Norwegian waters into financial wealth, invested in the world's capital markets. Further, it explains how this wealth is managed. Under the current guidelines, only the assessed return on investment may be allotted to public budgets. This ensures that the wealth will benefit both current and future generations. The capital is gathered in the Sovereign Wealth Fund - or State Pension Fund Global (SPF-G) -, which is intended to maximize capital value without exceeding acceptable risks. The book offers new insights into the history and management of the fund, examines its successes,and discusses future challenges. Given its scope, it appeals to scholars of economics, finance and political science, and to anyone interested in the sustainable investment of natural resource-based revenues.

In all countries debt and deficits of the public sector are at the heart of economic policy debate. Debt and deficits pose major problems, all the more pressing in Europe because of the Maastricht criteria for entry into European Monetary Union. And in the developing world debt has been associated with major financial crises. This volume, arising from an International Economic Association conference at the Bundesbank, sees academics and policy makers debate the key issues and their implications in theory and practice.

Lifetime distribution and redistribution is analysed in this book, in far more detail than has been attempted before. A dynamic cohort microsimulation model is used as an exciting new tool to analyse several questions which have previously been almost impossible to answer. These questions concern income distribution and redistribution, social security and income tax incidence. This book will be of interest to those working in social and economic policy who are concerned about such issues. It will also be of interest to the rapidly growing numbers of researchers and government analysts constructing microsimulation models.

Education Matters presents in one volume many of Alan B. Krueger's contributions to the economics of education. This invaluable collection of papers, based on his groundbreaking research from the 1990s, has been published in a wide range of professional outlets and has influenced public policy and research in the US and throughout the world. The book opens with an introductory essay explaining the importance of the study of the economics of education as well as providing an overview of the book. The author then goes on to discuss and analyse the important topics in the economics of education, including the economic pay off from attending school for longer, the return to investments in school resources, causes of the increased pay off to education, the contribution of education to economic growth, and racial differences in school quality and their consequences. The final chapter provides a framework for evaluating schools. This fascinating collection of work, from a writer at the forefront of economics and educational research, will be warmly welcomed by academics in the areas of human capital, economics and public policy, as well as by educational policymakers.