Taxation and Development highlights the importance of better understanding the ways in which taxes and expenditure are linked. Focusing on developing countries, the book argues for a broader approach to the topic, with a secondary focus on developing and applying new modeling techniques to country-specific data.The contributors demonstrate the critical importance of considering tax issues within the specific context of each country, taking into account not only the level and structure of its economic development but also its history, regional location, and political institutions. Individual chapters cover a range of issues both past and present, and offer insightful recommendations for future research and policy implementation. While a great deal of work has been done on the subject in recent decades, this comprehensive book reveals just how much more we have to learn. Taxation and Development will be of great interest to scholars and researchers of economics in general and in particular, taxation, development and public sector economics. Contributors: R. Bahl, R.M. Bird, M.R. Cyan, A. Feltenstein, W.F. Fox, R. Kelly, L. Lopes, Y.N. Madhoo, J. Martinez-Vazquez, T. Matheson, C.E. McLure, Jr., M.N. Murray, S. Nath, V. Perry, J. Porras-Mendoza, P. Smoke, C. Veung, V. Vulovic, S. Wallace, E.M. Zolt

By taking the long view on the evolution of this country's tax policies through the past few decades, Henrekson and Stenkula explain how Sweden developed the highest tax-to-GDP ratio in the world, until the beginning of the 2000s.

Written by two leading experts on multinational accounting and billion-dollar international investment funds, this book provides a framework for a global reform of the world monetary system, and defines a decidedly new approach to dealing with public debt mortgage, an issue that we can see in many countries in Europe and around the world. The authors put forward a proposal for transforming sterile financial masses, which are withdrawn from the real economy as they no longer bear interest, into wealth. To facilitate this return to the real economy, the authors propose that a significant share of public debt be converted into net equities in the world of business and goods production in order to find new profitable investment projects. The idea is bold, and the authors strive to demonstrate its technical feasibility. They are convinced that this approach can accompany and enhance a movement that has already begun, namely the implementation of vast national and international investment programs in major infrastructures and research projects in innovative sectors. This work builds on the authors’ two previous books, which focus on the monetary system. The first, published in 2010 and including a foreword by former French Finance Minister Christine Lagarde, analyzes the new virtual dimension of money. The second, published in 2014, puts forward an innovative proposal for a new financial regulation aimed at more stable economies. This third book is intended for professionals in the financial industry, including decision makers at banks, accounting and private equity firms, as well as policymakers at central banks and government institutions involved in the implementation of financial and monetary reforms.

The book presents the distributional consequences of the public sector. Examining both theoretically and empirically, both the effects of giovernment spending and taxation on personal distribution, i.e. on families and individuals and the relationship between the public sector and functional distribution of national income. Government expenditures are explored, asking who benefits from them, who from government transfer programs and who bears the tax burden?

This innovative book offers an original and radical tax policy proposal which can be used to promote growth and stability without affecting income equality. Immediately following the publication of Keynes's General Theory, Kalecki recognized that the theory of tax had to be re-thought, as aggregate income could no longer be thought of as fixed with respect to tax-induced changes in aggregate demand. To this day, orthodox tax policy analysis continues to ignore aggregate demand effects. The authors consider this orthodox approach to be deficient, and show how tax policies can promote growth without having a negative impact on equity. They incorporate Kalecki's theory of tax incidence into an analysis of income determination, income distribution, investment, business cycles, and growth. In addition, they examine the incidence of the corporate profits tax and the macroeconomic and regional incidence, and effects of local taxation. A Dynamic Theory of Taxation will be a welcome addition to the literature and will be of interest to tax policy analysts and government policy advisors, as well as scholars working in the fields of public finance, post Keynesian and Kaleckian economics.

Having spent almost fifty years of my life defending the separate accou- ing, arm's length pricing method, I have to admit that I was somewhat surprised to be asked to contribute to a book suggesting that the European Union might do well to consider adopting a formulary approach to deal with the taxation of inter and intra company transactions. I was even more surprised to see the invitation coming from Ms. Joann Weiner an ardent co-defender of arm's length pricing and my strong right arm in that regard while we both served in the U.S. Treasury Department in the mid '90s. The book gives Ms Weiner the opportunity to comment frankly from an insider's perspective of the many admitted problems of the arm's length system which could be avoided by a formulary approach. Ms. Weiner brings to this project a thorough expert knowledge of the b- efits and shortfalls of each of the systems she discusses - separate accounting v. formulary apportionment. Who better to decide to give qualified support to formulary than someone who organized a U.S. Treasury conference to defend arm's length pricing against a Congressional challenge in favor of formulary apportionment.

The book gives an overview of the implications of population ageing for economic development in general and financial systems in particular. It describes several challenges which the ageing process poses for central banks, giving special consideration to the situation in Europe. The first two chapters discuss the relationship between ageing and saving and between ageing and international capital flows. Other chapters consider the possible implications for financial markets. The final part of the volume raises issues which are of particular relevance for central banks, namely ageing and financial stability and how ageing will affect monetary policy. While the ageing problem has been the object of a growing debate in Europe during the past few years, little attention has been devoted so far to its monetary aspects.

On the surface the new president seems to inherit an empty house," Hugh Heclo, a recognized expert on American democratic institutions, has noted. "In fact, he enters an office already shaped and crowded by other people's desires." Empowering the White House examines how Richard Nixon entered that crowded Oval Office in 1969 yet managed to change it in a way that augmented the power of the presidency and continues to influence into the twenty-first century how his successors have governed.

Nixon's White House is perhaps best remembered for the growth in the size of the staff, which operated under the supposed iron fist of H. R. Haldeman. But more important than size and management style to the character of the Nixon White House were the assigned tasks, complexity, and dynamics of the burgeoning staff. Faced with hostile majorities in Congress and executive branch careerists assumed to be committed to a Democratic agenda, Nixon sought to control his political fate by engaging more actively than earlier presidents in public relations and the mobilization of support. At the command and under the control of the Oval Office, the staff carried out assignments designed to fulfill Nixon's aims.

This theoretically informed and well-researched study explains how Nixon changed and expanded the institutionalized presidency and how that affected the Ford and Carter administrations. Nixon ushered in a new stage in the modern presidency by organizing and using his increasingly complex staff in new ways that have persisted beyond the 1970s to this day. To a greater degree than any predecessor, Nixon systematized outreach, legal advice, and policy formulation. His White House staffing, then, has come to be regarded as a "standard model" that influences incoming presidents regardless of party affiliation.

Leavening this organizational study are revealing accounts of how the Nixon, Ford, and Carter staffs operated behind the scenes in the West Wing. Anyone needing to know how the White House worked during those presidencies--or how it has worked since--will find this book invaluable.

This book brings together important essays by Richard F. Kahn, Keynes's pupil and literary executor and one of the most influential economists in the Cambridge tradition. The essays address issues, including imperfect competition, pricing mechanisms, inflation, unemployment, and the regulation of international trade and finance, that are highly relevant and topical They are addressed from a Keynesian perspective, with the interface between economic theory and policy explored. With the inclusion of a new introduction, the essays are placed in their own context and offer the key to understand their relevance for the present. Richard F. Kahn: Collected Economic Essays is a fitting companion to the 1972 collection of essays, edited by Kahn himself. It will be of interest to scholars and students as a key to an outstanding economist and a great figure in the Keynesian tradition.

Contents:
Part I. The foundations of the twentieth-century debt
1. Sinking funds, annuities and savings banks
2. An Edwardian debt
Part II. The Great War
3. Lloyd George's Loan
4. McKenna's conversion
5. The small saver and continuous borrowing
6. The beginning of overseas borrowing and the Anglo-French Loan
7. The year of drift: internal borrowing in 1916
8. The year of drift: external borrowing in 1916
9. External borrowing 1917-18: (I) the United States of America
10. External borrowing 1917-18: (II) the neutrals, Canada and silver
11. Bonar Law's Loans
12. National War Bonds and continuous borrowing
Part III. Repayment, refinancing, conversion and funding
13. Victory and funding
14. The struggle for internal control, 1919-23
15. The external market and Canada
16. The debt to the US Treasury and the Blackett-Rathbone talks
17. The Balfour Note and the Baldwin Settlement
18. The price of indebtedness, 1924-31
19. The great conversion
20. Savings Certificates, savings banks and capital advances
21. Debt repayment and the sinking funds
22. The development of market management

This book presents the latest research in the field of Political Economy, dealing with the integration of economics and politics and the way institutions affect social decisions. The authors are eminent scholars from the U.S., Canada, Britain, Spain, Italy, Mexico and the Philippines. Many of them have been influenced by Nobel laureate Douglass North, who pioneered the new institutional social sciences, or by William H. Riker who contributed to the field of positive political theory.

The book focuses on topics such as: case studies in institutional analysis; research on war and the formation of states; the analysis of corruption; new techniques for analyzing elections, involving game theory and empirical methods; comparing elections under plurality and proportional rule, and in developed and new democracies.

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While nearly everyone in the United States pays careful attention to the federal government in Washington, it is the state and local officials and bodies who are generally providing education, protecting the environment, caring for AIDS patients, financing affordable housing, and putting police and firefighters on the streets. In this text, Henry Raimondo gives these local governments some of the notice they are due, examining why state and local public finance has assumed such an important role in domestic fiscal policy matters. Traditional topics such as the theories of taxation and intergovernmental grants are combined with numerous overlooked subjects to reveal the dynamic and complex nature of state and local government fiscal behavior.

Raimondo begins his text with a look at the relationship between regional economic performance and state and local government finance, and follows with a description of U.S. economic geography. The organization of the public sector is outlined through a discussion of the political and economic dimensions of the federal system, and the guidelines for delegating services to different levels of government. Among the other topics covered are methods for financing elementary and secondary education that adjust for regional economic differences; taxation in a federal system; state and local taxes on property, sales, and personal income; user charges and gambling revenues; and the actual beneficiaries of state and local governments. The book concludes with an overview of the grants-in-aid system and its effect on spending decisions. Students of economics, urban studies, and political science will find this work to be an invaluable resource, as will professionals in public policy and planning.

Classical liberalism has typically sought to maintain as much room as possible for the exercise of personal initiative in the face of the encroachment of states. This book explores these questions of coercion and authority in the context of the size and scope of the state and argues that the state and its agents should be held to the same moral rules as are the individuals it rules over. The book considers how a distinct feature of the state is its police or coercive power, about which one may ask how the state acquires it and what if anything would justify its use. It considers the implication that there is nothing inherent about state agents that entitles one to behave in ways that we would not accept from a private actor, and how once that argument is made, the state's claim to authority is weakened. The author also discusses the extent to which democracy has been thought to provide any sort of justification for coercion or authority. This book will be of interest to academics and students of political philosophy, especially classical liberalism, and legal philosophy.

This book informs the American Education Stakeholders about the importance of empowering our learners with new knowledge, skills, and ability to help them become more effective and influential in society. The United States ranks 25th on the list of OECD countries in its overall poverty gap between people in poverty and affluent people, and ranks 26th in its poverty gap for children born into poverty and children from affluent families. Considering new educational funding measures at the federal, state, and local levels, the American educational system must focus on implementing programs that equip children with multidimensional human capital that enables them to be upwardly mobile, particularly in an era of intense technological change with the expansion of automation and artificial intelligence. These goals are not new. We believe that now is an important time to articulate and commit to the transmission of human capital for children and identify the practices that best promote it. This book aims to make recommendations to educational programming that should be invested in that has shown potential in mitigating the opportunity gap and increasing human capital. With long aftershocks, the pandemic's dramatically decreased educational opportunities may mean that America's future workforce will be devastated by the declining number of children in our pre-K-12 system, a phenomenon predicted to begin showing its effects in 2025, with a higher number of students projected to be below grade level in skilled areas. Simply increasing funding will have little impact in driving improved outcomes if the funds are not used wisely; indeed, expenditures per student have roughly tripled since 1960. This book recommends a systems-level approach to the American education system. The authors believe that without deeply considering the underlying incentives and governance of educational programming initiatives, more money alone will not solve the skills gap and declining out comes among learners. This handbook will be essential to state and local entities to make systemic recommendations to practitioners, college professors, and researchers.

This monograph evaluates public policy responses to the Covid-19 pandemic through a public choice lens. The book compares two prominent, albeit mutually exclusive, theories in social sciences-public interest theory and public choice theory-and explores how their predictions perform within the framework of the Covid-19 pandemic. The chapters present different pandemic policies alongside empirical data in order to draw conclusions about their efficacy, and, in turn, draw conclusions about the veracity of each theory. By the end of the volume, the reader will be able to draw their own conclusions about whether the pandemic policy responses served the public interest, as public interest theory suggests, or the personal interests of the politicians who implemented them, as public choice theory holds.

The ability of a nation to finance its basic infrastructure is essential to its economic well-being in the 21st century. This book covers the municipal securities market in the United States from the perspective of its primary capital financing role in a fiscal federalist system, where subnational governments are responsible for financing the nation s essential physical infrastructure. Using the latest financial research and theory, Johnson, Luby and Moldogaziev use data-driven analysis to inform current public policy debates regarding the future of subnational government debt finance, including the regulation of professional financial service providers. The theories, research and practical examples in the book illustrate the policies and practices that helped governments navigate through the recent financial crisis and great recession, and those policies and practices that contributed to government shipwrecks. The book is designed to help officials make good, sound fiscal choices in a fast changing, complex financial world, and within the constraints imposed by fiscal rules and institutions. State and Local Financial Instruments will be of interest to academics, students and researchers interested in economics, finance, international studies and public policy. It is also an excellent reference tool for government officials, public policymakers and professionals working in finance. Contents: 1. Introduction 2. The Tax-Exemption of Municipal Debt 3. States as Fiscal 'Sovereigns' - Implications for Ability and Willingness to Pay in Full and on Time 4. The Federalist Framework: Fiscal Sovereignty, Federal Regulation and Disclosure 5. Subnational Government Debt Financial Management I - Financing Principles and Policies v6. Subnational Government Debt Financial Management II - Bringing an Issue to Market: Networks and Practices 7. The Serial Debt Issue Structure 8. Secondary Market Disclosure 9. Financial Engineering 10. Reducing Debt Service by Refunding Debt 11. Lessons Learned From the Birth, Growth and Collapse of the Municipal Auction Rate Securities (MARS) Market 12. Enhancing Municipal Credit 13. 'Non-Traditional' Capital Financing Mechanisms 14. Conclusion Index

This book informs the American Education Stakeholders about the importance of empowering our learners with new knowledge, skills, and ability to help them become more effective and influential in society. The United States ranks 25th on the list of OECD countries in its overall poverty gap between people in poverty and affluent people, and ranks 26th in its poverty gap for children born into poverty and children from affluent families. Considering new educational funding measures at the federal, state, and local levels, the American educational system must focus on implementing programs that equip children with multidimensional human capital that enables them to be upwardly mobile, particularly in an era of intense technological change with the expansion of automation and artificial intelligence. These goals are not new. We believe that now is an important time to articulate and commit to the transmission of human capital for children and identify the practices that best promote it. This book aims to make recommendations to educational programming that should be invested in that has shown potential in mitigating the opportunity gap and increasing human capital. With long aftershocks, the pandemic's dramatically decreased educational opportunities may mean that America's future workforce will be devastated by the declining number of children in our pre-K-12 system, a phenomenon predicted to begin showing its effects in 2025, with a higher number of students projected to be below grade level in skilled areas. Simply increasing funding will have little impact in driving improved outcomes if the funds are not used wisely; indeed, expenditures per student have roughly tripled since 1960. This book recommends a systems-level approach to the American education system. The authors believe that without deeply considering the underlying incentives and governance of educational programming initiatives, more money alone will not solve the skills gap and declining out comes among learners. This handbook will be essential to state and local entities to make systemic recommendations to practitioners, college professors, and researchers.

How do you make taxpayers comply? This ethnography offers a vivid, yet nuanced account of knowledge making at one of Sweden's most esteemed bureaucracies - the Swedish Tax Agency. In its aim to collect taxes and minimize tax faults, the Agency mediates the application of tax law to ensure compliance and maintain legitimacy in society. This volume follows one risk assessment project's passage through the Agency, from its inception, through the research phase, in discussions with management to its final abandonment. With its fiscal anthropological approach, Shaping Taxpayers reveals how diverse knowledge claims - legal, economic, cultural - compete to shape taxpayer behaviour.

This is the first book that performs international and intertemporal comparisons of uniform tax progression with empirical data. While conventional measures of tax progression suffer from serious disadvantages for empirical analyses, this book extends uniform measures to progression comparisons of countries with different income distributions. Tax progression is analyzed in terms of Lorenz curve and Suits curve equivalents of net incomes and taxes. The authors derive six distinct definitions of the relation "is more progressive than", which are then utilized for an empirical analysis of 13 countries included in the Luxembourg Income Study (LIS). In two thirds of all international comparisons of tax progression, the authors report a clear ranking of the respective countries in terms of progression dominance. Tax based definitions of greater progressivity perform best. These observations are yet reinforced by statistical tests. The book also provides an account of the institutional background of the involved countries in order to facilitate the interpretation of the data. Moreover, the authors conduct intertemporal comparisons of tax progression for selected countries and perform a sensitivity analysis with respect to the parameterization of the equivalence scale.

Second revised edition which provides an assessment of the current state of the supply-side of the economy. Includes an examination of Britain's role in the EU and the implications of the social chapter, an analysis of the structure of British industry since the end of the Cold War, and an assessment of the resources available in the year 2000.

Public spending accounts for a significant share of national GDP and is perceived as a critically important way for overcoming periods of economic and social crisis, but is often criticised as inefficient and ineffective, giving raise to calls for new processes of reform. Because most public resources are raised through taxation from citizens and businesses, accountability and assurance are key in the democratic process, and auditing attempts to fulfil this public interest role. This in turn leaves public sector auditing under increasing public scrutiny and political pressure. Through a comparative analysis of the development of auditing practices in governments across the globe, Auditing Practices in Local Governments: An International Comparison provides a contemporary overview of public sector auditing practices at both local and state level. By focusing on countries which have experienced differing implementation processes, and which are characterised by different administrative and political cultures, the authors provide a comparative analysis of countries across the globe, including major European states, China, Australia, and New Zealand. Written by scholars and practitioners in the fields of public sector auditing, this first volume of Emerald Studies in Public Service Accounting and Accountability provides readers both researchers and practitioners with a thorough overview of international public sector auditing practice.

In recent years, the European Commission has attached increasing importance to the use of financial engineering instruments rather than traditional grant-based financing for the microcredit sector, considering these to be the most efficient option available. This book presents a study of capacity building and structural funds in public managing authorities for the microcredit sector. It presents two surveys to highlight the strengths and weaknesses of the managing authorities' capacity building. The first survey investigates the authorities' need for and interests in capacity building activities, assessing the areas in which capacity building support is needed, and explores the different types of support offered. The second survey analyses the results of the microcredit and microfinance programming activity, investigating its target groups and other operational features. It examines the key monitoring and reporting issues involved in this activity, before analysing the regulatory framework of the microcredit and microfinance sector. This book presents an in-depth analysis of structural funds and their management by policy-makers in the European convergence regions. It explores the interests of managing authorities, microcredit institutions, operators and other financial intermediaries involved in microcredit programming activities, and offers some core strategic and operational recommendations for the use of structural funds in the microcredit sector.

This book offers a comprehensive guide to modern day taxation issues. It presents a thorough overview of many of the crucial aspects of applied taxation and current tax systems, and presents evidence that supports taxation as an important policy issue requiring immediate address globally. Contributions seek to address the core question of how to design a tax policy mix that can serve primarily efficiency, growth and possibly equity goals at a time where fiscal spending, for many economies, is not a viable option. Chapters provide a historical perspective on taxation, then go on to cover aspects of the modern theory of optimal taxation and tax design and provide valuable international perspectives on current tax practices and much required tax reforms. Empirical analysis on taxation and related economic data help the readers to understand how data-based observations and results are linked to the theory of taxation, and more importantly economic growth, before offering appropriate policy prescriptions. This book will be of interest to scholars and practitioners interested in learning more about taxation and why it matters today in the global economy.