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Journal articles on the topic 'Fiscal analysis'

Author: Grafiati

Published: 4 June 2021

Last updated: 3 February 2022

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1

Yunanto, Muhamad, and Henny Medyawati. "Fiscal Policy and Monetary Policy: Sensitivity Analysis." International Journal of Trade, Economics and Finance 6, no. 2 (April 2015): 79–84. http://dx.doi.org/10.7763/ijtef.2015.v6.447.

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2

Borkakati, Santosh, and Singh Gyanendra. "Fiscal responsibility law and subnational finance in India: An analysis of Assam's fiscal scenario." Ekonomski horizonti 23, no. 1 (2021): 71–84. http://dx.doi.org/10.5937/ekonhor2101071b.

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Fiscal responsibility law has become an important instrument for better fiscal management and ensuring fiscal discipline, particularly so in the federal countries where their subnational governments often indulge in fiscal indiscipline. In 2003, India adopted the Fiscal Responsibility and Budget Management Act for rule-based fiscal discipline, and the states of India were also asked to adopt their own fiscal rule legislation in line with the legislation adopted by the central government. As a fiscally weak Indian state, Assam enacted the Assam Fiscal Responsibility and Budget Management (AFRBM) Act in 2005 for better fiscal management. The paper attempts to examine the impact of the AFRBM Act on the fiscal performance of the state by analyzing the dynamics of the fiscal variables in the pre and post-AFRBM Act periods. The study finds that the state has improved its fiscal condition after the introduction of the AFRBM Act, even though it has remained prone to fiscal shocks.

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3

Mussons, Joan María. "Fiscal Responsiveness to Public Debt: An Analysis of." Revista Hacienda Pública Española 233, no. 2 (June 2020): 55–83. http://dx.doi.org/10.7866/hpe-rpe.20.2.3.

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4

Vlasov, S. "Russian Fiscal Sustainability Analysis." Voprosy Ekonomiki, no. 7 (July 20, 2011): 102–19. http://dx.doi.org/10.32609/0042-8736-2011-7-102-119.

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This study examines the Russian fiscal sustainability under two possible socio-economic scenarios. It contains the calculations for the current fiscal strategy in the medium and long run under conditions of additional fiscal risks. The size of necessary fiscal consolidation under the current fiscal strategy is calculated, and the alternative strategy based on the "bird-in-the-hand" rule is investigated.

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5

Shaw, Trevor. "Long-term fiscal sustainability analysis: Benchmarks for Independent Fiscal Institutions." OECD Journal on Budgeting 17, no. 1 (December 7, 2017): 1–27. http://dx.doi.org/10.1787/budget-17-5jfjb4lcpkhh.

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6

de Mello, Luiz R. "Fiscal Decentralization and Intergovernmental Fiscal Relations: A Cross-Country Analysis." World Development 28, no. 2 (February 2000): 365–80. http://dx.doi.org/10.1016/s0305-750x(99)00123-0.

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7

Heinemann, Friedrich, Marc-Daniel Moessinger, and Mustafa Yeter. "Do fiscal rules constrain fiscal policy? A meta-regression-analysis." European Journal of Political Economy 51 (January 2018): 69–92. http://dx.doi.org/10.1016/j.ejpoleco.2017.03.008.

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8

Chekina, Viktoriia. "Fiscal foresighting: analysis of researches." Economy of Industry 2, no. 94 (June 25, 2021): 71–107. http://dx.doi.org/10.15407/econindustry2021.02.071.

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In the context of the rapid technology development and globalization transformations, predicting changes in the economy, which affect fiscal system, is extremely relevant. Therefore, fiscal foresight as a mean of predicting a fiscal policy development in the long run is becoming an integral part of tax policy and economic development elaboration in many countries of the world. The objective of the paper is to analyse theoretical aspects of fiscal foresight, as well as foreign and national experience in fiscal foresights’ preparation to identify long-term factors and indicators that will have a significant impact (both positive and negative) on a fiscal system in a distant future. It was established that fiscal foresighting is a process of collecting data on the future to assess long-term prospects for the stability of tax revenues and budget expenditures in the face of changes in macroeconomic and other factors affecting the national economy. The main components of fiscal foresighting are identifying and monitoring trends, scanning and monitoring the time horizon, identifying risks and problems, and developing scenarios. Analysis of foreign fiscal foresights has shown that they become the basis for the development of shorter-term plans for the advance of fiscal systems, pointing out the main directions of fiscal policy, risks and barriers to achieving the goals. However, conducting an interstate analysis of a fiscal foresight remains problematic. This is due to the fact, that there is no single methodology for preparing fiscal foresights, countries choose different research horizons and update periods. It was defined that the basis for the goal-setting of national fiscal foresights was taken: reducing the level of income and welfare inequality, fighting against tax evasion, the transition to a "green" economy, promoting the digital development, stabilizing the socio-demographic condition with an unambiguous conclusion about the need to make adjustments to a national tax system. Countries have chosen as the main long-term fiscal policy actions: "rebalancing" the tax structure from direct taxes on labour and capital to indirect taxes on consumption and taxes on property and resource use; the transition from models based on ownership/sales to models based on the use of assets/goods/services; the introduction of new taxes, changes in rates, etc., the use of digital technologies in the tax payment and administration processes. The analysis of the socio-economic situation in Ukraine was carried out in order to identify factors that are critical in the development of the main vectors for the advance of the country's fiscal system in the future. These are recognized as: demographic and social changes, "depletion" of demand in the face of increased competition and the dependence of the export-oriented economy on the international environment and turbulence in the international economy, income inequality, digitalization, tax evasion, environmental degradation. Based on the results of the analysis of the "National Economic Strategy for the Period up to 2030", it was established that the actions indicated in the Strategy can become the initial data for the development of the first national fiscal foresight as a basis for assessing the long-term sustainability of the current fiscal system , identifying opportunities and risks of transformations of the fiscal policy of Ukraine under the influence of megatrends and intrastate changes associated with the peculiarities of the country's socio-economic development.

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9

Rajaguru, Gulasekaran, Safdar Ullah Khan, and Habib-Ur Rahman. "Analysis of Australia’s Fiscal Vulnerability to Crisis." Journal of Risk and Financial Management 14, no. 7 (June 29, 2021): 297. http://dx.doi.org/10.3390/jrfm14070297.

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Fiscal vulnerability, like a contagion, poses a threat to financial sector stability, which can lead towards sovereign default. This study aimed to assess fiscal vulnerability to crisis by investigating the Australian economy’s gross public debt, net public debt, and net financial liabilities. We used a threshold regression model and compared results with the baseline deficit–debt framework of analysis. The results of the base model suggested that the economy is fiscally sustainable, and that the primary surplus remains unaffected by increasing levels of public debt. In contrast, the threshold regression model indicated that the increasing level of debt has eroded primary surplus below the threshold level of 30.89% of public debt to GDP. These results need further investigation. Therefore, we modified our basic threshold model to capture budget deficit and surplus as a threshold in response to changes in public debt. The results from the sequential threshold regression model using the debt to GDP ratio and primary budget surplus identifying the periods of 1991, 1992, 2008, 2009, 2011 and 2019 as times of likely vulnerability to fiscal crisis. The overall results confirmed that the primary surplus remained sustainable over the estimated threshold level of public debt in all other sample periods and these findings persisted across alternative measures of public debt.

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10

Akindinova, N., A. Chernyavsky, and A. Chepel. "Analysis of regional fiscal balance." Voprosy Ekonomiki, no. 10 (October 20, 2016): 31–48. http://dx.doi.org/10.32609/0042-8736-2016-10-31-48.

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The authors examine the dynamics of regional budgets performance key indicators, including analysis of “May decrees” implementation effects. Interregional differentiation of budget deficit levels is regarded in details. The article contains estimation of the impact of various factors on regional budget performance, and the analysis of the relationship between budget balance and budget debt.

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11

KAISER, M. "Fiscal system analysis—concessionary systems." Energy 32, no. 11 (November 2007): 2135–47. http://dx.doi.org/10.1016/j.energy.2007.04.013.

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12

Campbell, Harrison S. "Comparative Fiscal Analysis for Counties." Public Budgeting & Finance 10, no. 2 (June 1990): 88–95. http://dx.doi.org/10.1111/1540-5850.00863.

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13

HEYNS, J. v. d. S. "Budget Concepts for Fiscal Analysis." South African Journal of Economics 60, no. 4 (December 1992): 239–43. http://dx.doi.org/10.1111/j.1813-6982.1992.tb01047.x.

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14

Kaiser, Mark J. "Fiscal system analysis contractual systems." International Journal of Global Energy Issues 26, no. 1/2 (2006): 106. http://dx.doi.org/10.1504/ijgei.2006.009726.

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15

Ettahri, Younes, and Naoual Quechichi. "Fiscal Engineering as Ameans to Optimize Fiscal Management : A Theoretical Analysis." Finance and Finance Internationale, no. 8 (January 2017): 1–15. http://dx.doi.org/10.12816/0040591.

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16

Khamdana, Abdillah. "Pengaruh Desentralisasi Fiskal Terhadap Pertumbuhan Ekonomi Daerah di Indonesia, 2008 – 2012." Indonesian Treasury Review Jurnal Perbendaharaan Keuangan Negara dan Kebijakan Publik 1, no. 1 (June 30, 2016): 23–38. http://dx.doi.org/10.33105/itrev.v1i1.59.

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This study aims to analyze the effect of fiscal decentralization on the economic growth in Indonesian provinces. The analysis of fiscal decentralization used three indicators, i.e. revenue, expenditure, and autonomy, added by control variables that consists of population growth, ratio of domestic investment to GDP, and regional inflation rate. This study used panel data of 33 provinces in Indonesia from the period of 2008-2012 with Random Effect Model (REM) method. The results show that fiscal decentralization has been proven not significantly increase the economic growth of the provinces. Therefore, reconsidering fiscal policy related to regional planning and budgeting, and determining development priority scale are needed. Consequently, it is necessary to strengthen the capacity and capability of regional public officials in fiscal and public policy matters. . ABSTRAK Penelitian ini bertujuan untuk menganalisis pengaruh desentralisasi fiskal terhadap pertumbuhan ekonomi provinsi di Indonesia. Analisis desentralisasi fiskal menggunakan indikator pendapatan, indikator belanja, dan indikator otonomi serta menggunakan variabel pengendali yang terdiri dari pertumbuhan populasi, rasio investasi domestik terhadap PDRB, dan tingkat inflasi daerah. Studi ini menggunakan data panel 33 provinsi di Indonesia periode 2008–2012 dengan metode Random Effect Model (REM). Hasil penelitian ini menunjukkan bahwa desentralisasi fiskal tidak terbukti signifikan meningkatkan pertumbuhan ekonomi provinsi. Atas dasar hal tersebut, diperlukan peninjauan kembali kebijakan fiskal daerah terkait perencanaan dan penganggaran, serta penetapan skala prioritas pembangunan daerah. Dirasa perlu pula adanya upaya penguatan kapasitas dan kapabilitas aparatur daerah di bidang kebijakan fiskal dan kebijakan publik.

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17

Šehović, Damir. "Analysis of Fiscal Rules in the European Monetary Union." Journal of Central Banking Theory and Practice 4, no. 1 (January 1, 2015): 19–33. http://dx.doi.org/10.1515/jcbtp-2015-0002.

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Abstract : The EMU fiscal system is specific in many areas compared to other classic fiscal systems of national states. Specific features mainly reflect in the implementation of economic policy within the EMU which is carried out by combining a common centralized monetary policy under the ECB jurisdiction and decentralized fiscal policies under the jurisdiction of the member states. The member states` sovereignty in governing their fiscal policies is one of the key causes of the EU fiscal system underdevelopment, i.e. its indigent structure in relation to “standard fiscal systems”. More indigent structure of the EU fiscal system is reflected in the fact that it consists of only three segments. The first one refers to the EU budget which is also the only instrument for implementing fiscal policy at the supranational level. The second one refers to the harmonization of taxation systems in accordance with inputs and other legislation adopted at the EU level with the aim of fostering the single internal market. Finally, the third segment refers to the fiscal policy coordination of the EMU member states related to appropriate fiscal rules, which mainly stem from the Maastricht convergence criteria and the Stability and Growth Pact.

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18

Bova, Elva, Christina Kolerus, and Sampawende Tapsoba. "A Fiscal Job? An Analysis of Fiscal Policy and the Labor Market." IMF Working Papers 14, no. 216 (2014): 1. http://dx.doi.org/10.5089/9781498330473.001.

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19

Sağbaş, İsa. "Central-Local Fiscal Relations in Turkey: A Technical Analysis of Fiscal Equalization." Turkish Studies 2, no. 2 (September 2001): 121–42. http://dx.doi.org/10.1080/714005690.

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20

Sacheit Albehadili, Anwer Fadiel, and Lu Xin Hai. "Impacts of Fiscal Decentralization and Economic Growth: A Meta-Analysis Approach." INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE AND BUSINESS ADMINISTRATION 4, no. 5 (2018): 34–43. http://dx.doi.org/10.18775/ijmsba.1849-5664-5419.2014.45.1004.

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21

McDermott, C. John, and Robert F. Wescott. "An Empirical Analysis of Fiscal Adjustments." Staff Papers - International Monetary Fund 43, no. 4 (December 1996): 725. http://dx.doi.org/10.2307/3867367.

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22

Ramazanov, Ruslan. "Simulation analysis of China fiscal models." Artificial societies 14, no. 4 (2019): 0. http://dx.doi.org/10.18254/s207751800007438-0.

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23

ŞEN, Hüseyin, and Ayşe KAYA. "A Descriptive Analysis on Fiscal Consolidation." Ekonomik Yaklasim 28, no. 104 (2017): 39. http://dx.doi.org/10.5455/ey.36121.

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24

Dollery, Brian E., and Andrew C. Worthington. "THE EMPIRICAL ANALYSIS OF FISCAL ILLUSION." Journal of Economic Surveys 10, no. 3 (September 1996): 261–97. http://dx.doi.org/10.1111/j.1467-6419.1996.tb00014.x.

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25

Westcott, Robert F., and C. John McDermott. "An Empirical Analysis of Fiscal Adjustments." IMF Working Papers 96, no. 59 (1996): 1. http://dx.doi.org/10.5089/9781451965957.001.

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26

BLACK, P. A., and J. H. COOPER. "Budget Concepts for Fiscal Analysis: Reply." South African Journal of Economics 60, no. 4 (December 1992): 244–45. http://dx.doi.org/10.1111/j.1813-6982.1992.tb01048.x.

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27

Edwards, Mary. "Fiscal Impact Analysis: Does Method Matter?" Journal of the Community Development Society 32, no. 1 (March 2001): 106–29. http://dx.doi.org/10.1080/15575330109489695.

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28

Chandra Jha, Prakash. "Theory of fiscal federalism: an analysis." Journal of Social and Economic Development 17, no. 2 (October 2015): 241–59. http://dx.doi.org/10.1007/s40847-015-0009-0.

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29

Kim, Sungchan. "Fiscal autonomy and stabilization: an empirical analysis of US state governments." Journal of Financial Economic Policy 12, no. 4 (January 23, 2020): 707–19. http://dx.doi.org/10.1108/jfep-06-2019-0106.

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Purpose Even though fiscal autonomy plays a role as one of the prerequisite conditions for fiscal decentralization, there has been little research into why fiscal autonomy is important or how it works for subnational governments. This study aims to examine the effectiveness of fiscal autonomy by using a panel dataset of US state governments from 2001 to 2013. Design/methodology/approach According to the results of general method of moments, the author find that fiscal autonomy leads to reducing volatility in total expenditures. Findings It indicates that fiscal autonomy is necessary for state governments performing one of the three Musgravian role of government (e.g. stabilization). However, when we look at the more detailed relationship between fiscal autonomy and volatility by applying expenditures from major categories such as capital outlay, general expenditure and public welfare, this study finds no statistically significant results. Interestingly, balanced budget requirement and tax and expenditure limitation indicate different effects on expenditure volatility, even though they belong to the same institutional factors. Originality/value This paper is meaningful because it can support the importance of fiscal autonomy on fiscal performance.

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30

Molotok, Ihor Fedorovych. "Bibliometric and Trend Analysis of Budget Transparency." Business Ethics and Leadership 4, no. 2 (2020): 116–22. http://dx.doi.org/10.21272/bel.4(2).116-122.2020.

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Over the last few decades, an integral part of public finance development is budget (fiscal) transparency and accountability. It is also in the focus of scientific interest and international organizations’ activity. Nevertheless, there is still a lack of valuable empirical research on identifying key triggers and inhibitors of budget (fiscal) transparency and its cohesion with other concepts in public finance management. Thus, this research deals with the realization of several tasks: 1) identification of budget (fiscal) transparency genesis and its essence in modern terms; 2) clarification of its cohesion with other concepts in public finance management using modern tools of bibliometric analysis; 3) characteristics of a current state of budget transparency in Ukraine, identification problems and prospects in this sphere. The second task fulfillment is based on Google Ngram Viewer, Google Trends, and VOSviewer bibliometric tools. Implementation of Google Ngram Viewer is aimed at popularity quantification of the concepts “budget transparency”, “fiscal transparency” and “budget accountability” in English Google books for 1960-2012. It defines budget (fiscal) transparency and accountability became the focus of scientific interest starting from 1960th, demonstrating an increase from the 1990th, and peaked in 2005. Google Trends analysis also showed that the peak of Internet users’ interest in budget (fiscal) transparency issues was in 2005-2006. Moreover, Google Trends analysis and frequency of Scopus articles published on the budget (fiscal) transparency issues lead to the conclusion that this concept remains popular among both scientists and regular Internet users worldwide. VOSviewer analysis of 419 Scopus articles reveals that budget (fiscal) transparency closely connected with economic prosperity and sustainability at national and local levels, poverty elimination, environmental responsibility, democratic values implementation, fight against corruption, good governance, and especially the efficiency of public finance management, fiscal policy, and government expenditures. Finally, analysis of budget transparency level in Ukraine based on Open Budget Survey 2019 allows concluding that despite the general improvement of the country score (from 54 to 63 points) in comparison with the previous Survey period, Ukraine still has problems with Mid-Year Review and Pre-Budget Statement. Keywords: Bibliometric Analysis, Budget Accountability, Budget Transparency, Google Ngram, Google Trends, Fiscal Transparency, VOSviewer.

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31

Dimitra, Mitsi. "Does the Quality of Fiscal Institutions Matter for Fiscal Performance? A Panel Data Analysis of European Countries." International Journal of Economics and Finance 13, no. 1 (December 10, 2020): 33. http://dx.doi.org/10.5539/ijef.v13n1p33.

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The last decade, the number of fiscal frameworks such as national fiscal rules and independent fiscal councils have increased, significantly as a consequence of fiscal indiscipline in many European Countries. In the wake of economic crisis in 2007, fiscal laxity and unsustainable public finances made the European Union to strengthen its fiscal policy in many ways in order to create an economic environment of macroeconomic stability and sustainable growth. This paper investigates the role of fiscal frameworks (fiscal rules and fiscal councils) on fiscal performance as well as the impact of other types of institutions, namely Worldwide Governance Indicators on primary balance. The empirical analysis builds on a reaction function proposed by Bohn (1998) while the estimation method builds on a fixed effect panel data estimation and a dynamic panel data estimation of Arellano-Bover and Blundell-Bond. Our main results provide that political stability, government effectiveness, fiscal rules and fiscal councils play an important role for improving fiscal performance. However, the effect of fiscal institutions on primary balance changes among different types of fiscal rules (debt rules, expenditure rules and budget balanced rules) and independent fiscal councils or fiscal councils that have access to information, respectively.

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32

Vlasov, S., E. Deryugina, and Y. Vlasova. "The Analysis of Russia’s Fiscal Sustainability in the Shortand Long Run." Voprosy Ekonomiki, no. 3 (March 20, 2013): 33–49. http://dx.doi.org/10.32609/0042-8736-2013-3-33-49.

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This paper examines the short and long run Russia’s fiscal sustainability. It reveals the possible risks of the deterioration of the fiscal sustainability on the general budget level. The virtues and shortcomings of the new fiscal rules are analyzed, the comparison with the fiscal rules that had been suspended during the financial crisis is presented, and possibilities for further development of the new fiscal rules are discussed. The long run socio-economic development forecast is employed for these purposes.

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33

Zubule, Erika, and Peter Grabusts. "ANALYSIS AND EVALUATION OF FISCAL POLICY IN LATVIA." ENVIRONMENT. TECHNOLOGIES. RESOURCES. Proceedings of the International Scientific and Practical Conference 2 (June 20, 2019): 184. http://dx.doi.org/10.17770/etr2019vol2.4076.

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The choice and topicality of the research topic is based on the fact that upon strengthening of the government's regulating role in economy, the notion of public finances positions itself, and state budget has become an important subject of both economic and political discussions as implementation of fiscal policy is takes place through it. In order to evaluate fiscal policy, it is necessary to evaluate the potential influence of different fiscal policy instruments on social and economic situation in the state. Aim of the research – to evaluate activities of fiscal policy implemented in Latvia in context of certain tax, namely, influence of corporate income tax on state's economic and financial indicators, identifying the main risks and imperfections of fiscal policy when ensuring state's budget. Applying simulation methods in the environment of Matlab/Simulink, the authors analyze and evaluate the influence of fiscal decisions and their implementation on the situation in Latvia, analyzing the most important tendencies in the sphere of corporate income tax payments according to the tax reform commenced in 2018.

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34

PİRDAL, Burak. "MALİ KURALLAR VE BAĞIMSIZ MALİ KONSEYLERİN KARŞILAŞTIRMALI BİR ANALİZİ." İktisadi ve İdari Bilimler Fakültesi Dergisi 19, no. 2 (December 1, 2017): 1–12. http://dx.doi.org/10.5578/jeas.54064.

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35

Bajorūnienė, Roberta, Dalia Rudytė, and Solveiga Skunčikienė. "Analysis of fiscal competitiveness in Lithuania’s municipalities." Journal of Education Culture and Society 7, no. 2 (September 10, 2016): 424–39. http://dx.doi.org/10.15503/jecs20162.424.439.

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Nowadays municipal revenue management and administrative issues are more important and problematic. It is noted that in Lithuania’s separate municipalities collected budget revenues, formed budget expenditure, set borrowing limits, allocated from the state budget financial resources (grants) are significantly different. In order to determine reasons for these differences, it is appropriate to analyze the municipal fiscal competitiveness and identify fiscal competitiveness factors of individual Lithuanian municipalities. Understanding municipal fiscal competitiveness factors helps to explain why some municipalities more successfully than others increase tax revenue level and financial - social opportunities of their populations. This scientific article is funded by the Research Council of Lithuania according to the project „The evaluation of municipalities’ fiscal competitiveness in the context of economic growth” (2015-2018), registration No. MIP-013/2015.

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36

Costa Junior, Celso José, Alejandro C. García Cintado, and Armando Vaz Sampaio. "Post-2008 Brazilian fiscal policy: an interpretation through the analysis of fiscal multipliers." Estudos Econômicos (São Paulo) 47, no. 1 (March 2017): 93–124. http://dx.doi.org/10.1590/0101-416147149caa.

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Abstract The global crisis that erupted in 2007 led many countries to embark on countercyclical fiscal policies as a way to cushion the blow of a depressed aggregate demand. Advocates of discretionary measures emphasize that fiscal policy can indeed stimulate the economy. The main goal of this work is to assess whether the fiscal policies pursued by the Brazilian government in the aftermath of the 2008 crisis, succeeded in bringing the economy back on track in a sustainable fashion. To this end, the fiscal multipliers of five different shocks are studied in a small open-economy New Keynesian framework. Our results point to the government spending and public investment as the most effective fiscal tools for combating the crisis. However, the highest fiscal multiplier turned out to be the one associated with excise tax reductions.

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37

Chen, Xia, and Jianmin Liu. "Fiscal Decentralization and Environmental Pollution: A Spatial Analysis." Discrete Dynamics in Nature and Society 2020 (March 26, 2020): 1–10. http://dx.doi.org/10.1155/2020/9254150.

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Based on annual data over the period 2003 to 2017 covering 31 provinces in China, the environmental pollution index and environmental regulation index are constructed. Moran’s I, the widely used spatial autocorrelation index, is used to analyze the spatial distribution of environmental pollution, which provides a fairly high stability of the positive spatial correlation of environmental pollution. Then, the 0-1 matrix, distance weighting matrix, and economic distance mixed matrix are carried out to weigh space separately. To analyze the impact of fiscal decentralization on environmental pollution, the spatial Durbin model is employed. In the meanwhile, fiscal decentralization is measured from the perspective of both fiscal expenditure decentralization and fiscal revenue decentralization. The results show that the impact of fiscal decentralization on environmental pollution is positive and appears the phenomenon of “race to bottom.” To improve environmental quality, appropriate environmental regulation target, implementing green GDP accounting, and adjusting economic structure should be adopted.

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38

Khadan, Jeetendra. "Fiscal Sustainability in the Caribbean: An Econometric Analysis." Research in Applied Economics 11, no. 2 (June 30, 2019): 1. http://dx.doi.org/10.5296/rae.v11i2.14697.

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Many countries in the Caribbean have been grappling with persistent fiscal imbalances and rising debt levels. The average debt to GDP ratio in the Caribbean in 2017 was 76.6 percent, higher than the negative debt-growth threshold of 60 percent of GDP. Also, the average fiscal deficit as a percent of GDP was 2.8 percent, but with significant heterogeneity across countries ranging from 0.5 percent to 11 percent. Using the inter-temporal budget constraint framework and various panel data econometric estimators, this article examines the issue of fiscal sustainability for a group of 10 Caribbean countries over the period 1991-2017. The evidence from panel cointegration models of government revenue and expenditure shows that past fiscal behavior is “weakly” sustainable. The “weak sustainability” finding is reinforced by evidence from an extended fiscal reaction function which showed that the primary balance improves by about 0.02 for every 1 percentage point increase in the debt ratio.

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39

Marconato, Marcio, and Marcio Henrique Coelho. "GESTÃO FISCAL NOS MUNICÍPIOS PARANAENSES: UMA ANÁLISE ESPACIAL." RDE - Revista de Desenvolvimento Econômico 1, no. 39 (April 2016): 295. http://dx.doi.org/10.21452/rde.v1i33.4248.

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O objetivo deste artigo foi estabelecer uma análise espacial do Índice de Gestão Fiscal (IGF) e verificar a sua relação com o Índice de Desenvolvimento Municipal (IFDM), nos municípios paranaenses. O aumento do gasto público, diante de um contexto de lim

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40

Hapsoro, Dody, and Ryfal Yoduke. "Fiscal Illusion Detection and Their Effect on Economic Growth in Sulawesi." Jurnal Economia 15, no. 2 (October 1, 2019): 172–88. http://dx.doi.org/10.21831/economia.v15i2.23923.

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Abstract: The purpose of this study is to examine the existence of fiscal illusions in the form of flypaper effects and debt illusions in regional government spending and examine its effect on regional economic growth in Sulawesi. The number of samples is 78 based on the completeness criteria of data and information covered in the consolidated balance sheet of the Ministry of Finance of the Republic of Indonesia. The utilized analytical tool is partial least square analysis assisted by SmartPLS 3.0 software based on the Structural Equation Model (SEM). The results of the study show that there is a fiscal illusion in the form of flypaper effects and the illusion of debt in regional government expenditure. Furthermore, the results of the study show that the existence of fiscal illusions in regional government expenditure has a positive and significant effect on regional economic growth. Keywords: Fiscal illusion detection and economic growth.Keberadaan Ilusi Fiskal dan Pengaruhnya Terhadap Pertumbuhan Ekonomi di Sulawesi Abstrak: Tujuan penelitian ini adalah untuk menguji keberadaan ilusi fiskal dalam bentuk flypaper effect dan ilusi hutang dalam belanja pemerintah daerah dan menguji pengaruh ilusi fiskal terhadap pertumbuhan ekonomi daerah di Sulawesi. Jumlah sampel adalah sebanyak 78 berdasarkan kriteria kelengkapan data dan informasi yang terdapat dalam neraca gabungan Kementerian Keuangan Republik Indonesia. Alat analisis yang digunakan adalah analisis parsial kuadrat terkecil dengan bantuan perangkat lunak SmartPLS 3.0 berdasarkan Structural Equation Model (SEM). Hasil penelitian menunjukkan bahwa ada ilusi fiskal dalam bentuk flypaper effect dan ilusi hutang pada belanja pemerintah daerah. Hasil penelitian selanjutnya menunjukkan bahwa keberadaan ilusi fiskal pada belanja pemerintah daerah berdampak positif dan signifikan terhadap pertumbuhan ekonomi daerah. Kata kunci: Deteksi ilusi fiskal dan pertumbuhan ekonomi.

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Vasiljev, Tamara Bašić. "Estimated DSGE Model for Monetary and Fiscal Polic Coordination Analysis – The Case of Serbia." Journal of Central Banking Theory and Practice 7, no. 1 (January 1, 2018): 145–73. http://dx.doi.org/10.2478/jcbtp-2018-0007.

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AbstractWe present a new-Keynesian model for small open economy, with price rigidities stemming from a Calvo pricing scheme (1983), monopolistic banking system, financial dollarization of the economy and monetary and fiscal policy governed by rules. We estimate the model on Serbian data and propose various model extensions that could be used for monetary and fiscal policy analysis. We consider 6 combinations of monetary and fiscal policy regimes, inflation targeting and currency peg on one hand, and discretionary cyclically neutral fiscal policy and fiscal rules, on the other. The model with inflation targeting and discretionary fiscal policy fits the data best.

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Qasim, Muhammad Ali, and Mahmood Khalid. "Fiscal Responsibility: A Critical Analysis of FRDL (2005) Pakistan." Pakistan Development Review 51, no. 4II (December 1, 2012): 117–29. http://dx.doi.org/10.30541/v51i4iipp.117-129.

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The term fiscal responsibility in financial dictionary is defined as “A balanced budget”. That is a budget wherein expenditures during a given period of time equal to revenues. The fiscal responsibility also includes a budget in which revenue is greater than the expenditures. Fiscal responsibility is achievable and most of the individuals in their private life practice fiscal responsibility. At individual level everybody knows that they have to live within the budget and usually they do not overspend. Usually overspending by individual results in bad crediting rating which one receives from their creditors due to non-payments or late payments of installments and thus denies future benefits to the person concern. Fiscal responsibility at national level implies that a government has a balanced budget and has sufficient revenue to pay for its all expenditures. There would be no overspending if government had a true balanced budget in each period. The economic future of a nation largely depends on the way fiscal responsibility is practiced. There is a direct link between budget deficit today and what nation can enjoy in future. Fiscal responsibility is crucial for a nation to remain prosperous and stronger in future. Fiscal responsibility will also determine what kind of future we are leaving to our children and grandchildren for the next 20 years and beyond. If the fiscal responsibility is not practiced the government would spend more money than its income and it borrows for the difference. If the money borrowed come from domestic savings or from domestic lenders the economy will have less money available for capital investment and future productivity growth rates and levels would be lower. If on the other hand deficit is financed by foreign organisation/country the country will be indebted with growing debt to the rest of the world, with growing interest costs which must be served every year. If we rely more on foreign sources to finance the resource gap the foreign ownership of our resources would grow and so has our dependences on the actions of foreign governments and investors.

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Jevđović, Gordana, and Ivan Milenković. "MONETARY VERSUS FISCAL DOMINANCE IN EMERGING EUROPEAN ECONOMIES." Facta Universitatis, Series: Economics and Organization, no. 1 (September 26, 2018): 125. http://dx.doi.org/10.22190/fueo1802125j.

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The conventional macroeconomic paradigm is that monetary policy provides the nominal anchor for inflation expectations and that fiscal policy is disciplined in implementing credible and timely revenue-expenditure measures when debt rises, in order to ensure sustainability. In this scenario monetary policy is active, whereas fiscal policy is passive, which is referred to as monetary dominance. However, the proponents of the Fiscal Theory of the Price Level emphasize that another regime may be possible - the one of fiscal dominance. In this setup, primary balance follows some arbitrary path, not necessary compatible with the evolution of government debt, and monetary policy is faced with limited room for manoeuvre as it has no option but to adjust to fiscal developments. Following these theoretical foundations, the aim of this paper is to empirically ascertain the prevailing policy regime (monetary versus fiscal dominance) in five emerging European economies (Hungary, Romania, Bulgaria, Serbia and Macedonia). In line with expectations, results overwhelmingly suggest that monetary policy may have been subordinated to fiscal policy over the period of analysis in all economies under scrutiny and that fiscally-led regime prevailed.

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Shi, Yaobo, Yuquan Wang, and Yun Huang. "Influence factors of PM2.5 reduction—based on economic data analysis." E3S Web of Conferences 294 (2021): 06003. http://dx.doi.org/10.1051/e3sconf/202129406003.

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Starting from China’s environmental issues to study the impact of environmental protection fiscal expenditures on PM2.5 concentration reduction. This article uses the panel data of 30 provinces (except Hong Kong, Macao, Taiwan and Tibet) from 2007 to 2017, and uses PM2.5 concentration levels in China’s provinces as an explained variable. The results of the panel regression model shows that environmental protection fiscal expenditures have a significant positive effect on PM2.5 reduction environmental policy tools have a significant positive regulatory effect on environmental protection fiscal expenditures and PM2.5 reduction. Increasing environmental protection fiscal expenditures is conducive to promoting PM2.5 reduction.

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Tykhonova, Olena, Oleksandr Sviderskyi, and Iryna Yefremova. "ORGANIZATIONAL ASPECTS OF FISCAL AUTHORITIES IN UKRAINE AND FOREIGN COUNTRIES: COMPARATIVE ANALYSIS." Baltic Journal of Economic Studies 4, no. 5 (February 11, 2019): 357. http://dx.doi.org/10.30525/2256-0742/2018-4-5-357-363.

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The aim of the article is a comparative legal study of the organizational aspects of fiscal authorities in Ukraine and in some foreign countries and so to determine ways to improve domestic legislation in this area. The subject of the study is the domestic and foreign experience of the structure and activity of fiscal authorities in such countries as the United States, the UK, France, the Republic of Latvia, the Republic of Belarus and Kazakhstan. Methodology. The study is based on the use of general scientific and special scientific methods and techniques of scientific knowledge. The historical method enabled to study the origin and formation of fiscal authorities in Ukraine. Analysis and synthesis enabled to interrogate the fiscal system of Ukraine and some foreign countries as a complex legal phenomenon, defining its essence, characteristics, and targets. The method of the system approach enabled to determine the place of individual fiscal authorities in the financial system of the country, to analyse their main responsibilities, functions and areas of activity. The comparative legal method enabled to analyse the experience of the organization and activities of fiscal authorities in foreign countries, as well as to define the ways of its implementation in the national legal system. The results of the study revealed that for today the experience of Ukraine in the organization of activity of fiscal authorities is rather progressive and modern, and the national fiscal system is characterized by consolidation of powers in coordinating and controlling taxation and customs, which defines progressiveness of our country. Practical implications. The positive experience of the fiscal organization in foreign countries suggests the expediency of including national fiscal authorities in a single centralized system of executive power, through the creation of a separate ministry. This will enable not only to improve the efficiency of generating the state budget but also in the future will lead to overcoming the gap between the tax-customs policy and its application results. Relevance/originality. A comparative analysis of the organizational aspects of fiscal authorities in foreign countries is the basis for developing priority areas for improving the fiscal system of Ukraine, identifying gaps in its work, as well as introducing in the activity of fiscal bodies the newest methods that can increase their level and bring them into line with international standards.

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Liu, Jianmin, Xiaomei Hu, and Hongli Tang. "Fiscal Decentralization and Regional Financial Efficiency: An Empirical Analysis of Spatial Durbin Model." Discrete Dynamics in Nature and Society 2016 (2016): 1–14. http://dx.doi.org/10.1155/2016/6597138.

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Based on panel data covering the period from 2003 to 2012 in China’s 281 prefecture-level cities, we use superefficiency SBM model to measure regional financial efficiency and empirically test the spatial effects of fiscal decentralization on regional financial efficiency with SDM. The estimated results indicate that there exist significant spatial spillover effects among regional financial efficiency with the features of time inertia and spatial dependence. The positive promoting effect of fiscal decentralization on financial efficiency in local region depends on the symmetry between fiscal expenditure decentralization and revenue decentralization. Additionally, there exists inconsistency in the spatial effects of fiscal expenditure decentralization and revenue decentralization on financial efficiency in neighboring regions. The negative effect of fiscal revenue decentralization on financial efficiency in neighboring regions is more significant than that of fiscal expenditure decentralization.

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Sawhney, Upinder. "An Analysis of Fiscal Policy in an Emerging Economy: Innovative and Sustainable Fiscal Rules in India." Millennial Asia 9, no. 3 (December 2018): 295–317. http://dx.doi.org/10.1177/0976399618805629.

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Fiscal management is considered to be effective only if fiscal imbalances do not create any macroeconomic instability in an economy. In a federal structure, the performance of sub-national constituents as well as the national government is significant for growth and development. Fiscal imbalances set in the Indian economy both at the national and sub-national levels during 1980s and became a matter of concern by the end of the last century. Accordingly, fiscal responsibility legislations (FRLs) were enacted by the two layers (union and state) of the government. It is not the enactment but the effective implementation leading to fiscal discipline and consolidation which is important. This article seeks to examine the Fiscal Responsibility and Budget Management Act, 2003 of a developed Indian state situated in the northwest of India, that is, Punjab. Various fiscal consolidation targets are reviewed against the actual outcomes of those fiscal parameters which are outlined in the FRL of the State. Some policy pre-scriptions for innovative and sustainable fiscal rules have been suggested.

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Arestis, Philip, Hüseyin Şen, and Ayşe Kaya. "Fiscal and monetary policy effectiveness in Turkey: A comparative analysis." Panoeconomicus, no. 00 (2020): 19. http://dx.doi.org/10.2298/pan190304019a.

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Relying on the Autoregressive Distributed Lag cointegration technique, this paper assesses the comparative effectiveness of the fiscal and monetary policy on output growth in Turkey over the period 2003:q1-2019:q1. The empirical findings show that both policies are effective in promoting output growth but with varying degrees, suggesting that the impact of monetary policy on output growth is more significant than that of fiscal policy. Overall, based on the findings, we can suggest that the Turkish authorities should set sight on monetary policy to achieve higher output growth while seeking ways to improve the growth-enhancing role of fiscal policy. To that end, among many others, budgetary flexibility can be increased through creating fiscal space, and growth-friendly tax and spending reforms can be undertaken without undermining growth-equity trade-off while giving priority to proper coordination of fiscal policy with monetary policy.

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Bhusal, Indra Prasad. "Fiscal decentralization in Buddhist economics: An interactive analysis from Lumbini." Research Nepal Journal of Development Studies 1, no. 1 (October 5, 2018): 32–41. http://dx.doi.org/10.3126/rnjds.v1i1.21272.

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The main objective of the article is to identify the basic elements of Buddhists Economics applicable to fiscal decentralization. The study reviews the Buddhists Economics and Fiscal Decentralization from global perspective. Fiscal decentralization is the process to deliver the power and resources to the grass root level of governance. If the governing body is able to impose the Buddha’s ideology in the policy, certainly resource allocation conflict will be minimized.Methodologically the researcher has conducted interaction programs among Buddhists economists, scholars and academicians available in Lumbini– the birth place of Buddha. The author has analyzed the facts matching with literature review and focused group discussion in Lumbini. The study has identified elements of fiscal decentralization from Buddhist Economics. These elements can be a guideline for noble scholars, academicians, researchers and policy makers of fiscal decentralization from Buddhists economics.Research Nepal Journal of Development Studies Vol.1(1) 2018 32-41

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Aulia, Sarah, and Akhmad Syakir Kurnia. "ANALYSIS GLOBAL BUSINESS CYCLE AND FISCAL RISKS : An Empirical Study of ASEAN-5." JURNAL DINAMIKA EKONOMI PEMBANGUNAN 1, no. 1 (April 30, 2018): 33. http://dx.doi.org/10.14710/jdep.1.1.33-46.

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This thesis aims to analyze global business cycle and fiscal risk in ASEAN-5 which is expected to be explained by several explanatory variables including primary balance/GDP, oil price, economic growth, output gap, and LIBOR interest rate. More spesifically, this thesis focus on the effect of oil price with Debt/GDP is a benchmark of fiscal risk. This research used panel data of ASEAN-5 period 2000-2014. Prior to conducting the analysis, this study looked at the correlation coefficients between the cycle components (output gap) and the primary balance per GDP to identify the fiscal policy character in each country. The cycle component is calculated by using the difference between original series and trend components using Hodrick Prescott Filter. The fiscal policy characteristics of Indonesia, Malaysia, Phillipines, and Thailand apply procyclical policies while singapore implements countercyclical fiscal policy. The results of the analysis conducted using the fixed effect method show the global business cycle and world oil price fluctuations affect the fiscal risks. The results of this study indicate when the business cycle in a state of booming domestic governments tend to increase government spending and create fiscal risks. Meanwhile, the LIBOR and Primary Balance rate per GDP which is a variable derivative of the fiscal suistanability concept has an effect on fiscal risk. However, economic growth has no effect because the current debt is the tax burden in the future.

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