This pathbreaking text develops a seminal theory and discipline of
international public finance, for the first time advancing public
economics into the international arena. Offering a new post-Cold
War approach that combines support for development, the
environment, and international peacekeeping, it proposes an
original system of global cooperation, resource allocation,
taxation, and financing, focusing on the global commons and
conflicts between environmental concerns and the economic needs of
developing nations.
Written to appeal to students at many levels, the book synthesizes
and clarifies a wide range of theoretical, historical, and
practical issues. It examines the very concept of finance and
traces its development through its separation into private and
public spheres. It then provides an overview of public finance
theory, extending the main elements of the theory into an
international context, with discussions of market failures,
distributional equity, the political process, and coordination and
stabilization among nations. Finally, the author shows how
international public finance developed into its present patchwork
of voluntary contributions and oligarchic power structures, and
offers instead a comprehensive, systematic approach comprising
international taxation, management of the global commons to
generate revenues for international use, monetary and other
measures, and international institutional reform. The book's
theoretical framework puts important environmental, economic, and
political issues into a fresh perspective, while its practical
recommendations cover important subjects usually neglected,
including disputed commons such as Antarctica and the Southern
Ocean, the deep ocean bed, the high seas, air space, the
electromagnetic spectrum, the geostationary orbit, and the
pollution of what is apparently our last frontier--outer
space--with high-speed "space junk."
A pioneering exploration of a topic of vital and growing concern to
most of the Earth's people, International Public Finance is a basic
resource for a great variety of courses in development, finance,
public administration, international relations, and environmental
studies.
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