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Journal articles on the topic 'Types of fiscal policy'
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1
Auerbach, Alan J., William G. Gale, and Benjamin H. Harris. "Activist Fiscal Policy." Journal of Economic Perspectives 24, no. 4 (November 1, 2010): 141–64. http://dx.doi.org/10.1257/jep.24.4.141.
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During and after the “Great Recession” that began in December 2007 the U.S. federal government enacted several rounds of activist fiscal policy. In this paper, we review the recent evolution of thinking and evidence regarding the effectiveness of activist fiscal policy. Although fiscal interventions aimed at stimulating and stabilizing the economy have returned to common use, their efficacy remains controversial. We review the debate about the traditional types of fiscal policy interventions, such as broad-based tax cuts and spending increases, as well as more targeted policies. While there have been improvements in estimates of the effects of broad-based policies, much of what has been learned recently concerns how such multipliers might vary with respect to economic conditions, such as the credit market disruptions and very low interest rates that were central features of the Great Recession. The eclectic and innovative interventions by the Federal Reserve and other central banks during this period highlight the imprecise divisions between monetary and fiscal policy and the many channels through which fiscal policies can be implemented.
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Ajdar Ibrahimov, Ajdar Ibrahimov, and Elvin Alirzayev Elvin Alirzayev. "THEORETICAL ASPECTS OF FISCAL POLICY." PAHTEI-Procedings of Azerbaijan High Technical Educational Institutions 16, no. 05 (April 25, 2022): 05–15. http://dx.doi.org/10.36962/pahtei16052022-05.
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The article examines the concept of fiscal policy, reveals the essence of state regulation of socio-economic development as a process of including the state in the economic sphere of society through fiscal policy. The definitions of the types of fiscal policy are given. The article reveals the essence of state regulation of socio-economic development as a process of including the state in the economic sphere of society through fiscal policy. The approaches of state intervention in the economy in a historical perspective are considered. The definitions of the types of fiscal policy are given. It is concluded that state regulation of the economy can be successfully carried out only subject to a number of conditions, including the specifics of the basic principles, in combination with monetary policy. This work is devoted to the consideration of fiscal policy, which can be called one of the main levers of influence on the economy of the state. The problems of fiscal regulation, as a factor in the growth of economic efficiency, for most countries of the world, therefore, remain very relevant at the present stage of development of society. The main question is whether this policy will be carried out constructively or will it be unconscious and inconsistent. The object of the article is the fiscal policy of the state; the object of the study is the goals and mechanisms of the fiscal policy. The aim is to comprehensively consider the fiscal policy of the state as a method of state regulation of the economy, to determine its economic significance. Keywords: economic growth, fiscal policy, state regulation of the economy.
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Alesina, Alberto, Silvia Ardagna, Roberto Perotti, and Fabio Schiantarelli. "Fiscal Policy, Profits, and Investment." American Economic Review 92, no. 3 (May 1, 2002): 571–89. http://dx.doi.org/10.1257/00028280260136255.
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This paper evaluates the effects of fiscal policy on investment using a panel of OECD countries. We find a sizeable negative effect of public spending—and in particular of its wage component— on profits and on business investment. This result is consistent with different theoretical models in which government employment creates wage pressure for the private sector. Various types of taxes also have negative effects on profits, but, interestingly, the effects of government spending on investment are larger than those of taxes. Our results can explain the so-called “non-Keynesian” (i.e., expansionary) effects of fiscal adjustments.
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Abdulov, Damir. "EFFICIENCY OF THE STATE FISCAL POLICY." INNOVATIONS IN ECONOMY 3, no. 3 (March 30, 2020): 38–46. http://dx.doi.org/10.26739/2181-9491-2020-3-6.
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The article discusses the definition, goals and main types of fiscal policy. It also provides an analysis of the effectiveness of fiscal policy in Uzbekistan based on the Laffer curve of indicators of the level of tax burden and elasticity of the tax system.
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Gogas, Periklis, and Ioannis Pragidis. "Are there asymmetries in fiscal policy shocks?" Journal of Economic Studies 42, no. 2 (May 11, 2015): 303–21. http://dx.doi.org/10.1108/jes-04-2013-0059.
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Purpose – The purpose of this paper is to test the effects of unanticipated fiscal policy shocks on the growth rate and the cyclical component of real private output and reveal different types of asymmetries in fiscal policy implementation. Design/methodology/approach – The authors use two alternative vector autoregressive systems in order to construct the fiscal policy shocks: one with the simple sum monetary aggregate MZM and one with the alternative CFS Divisia MZM aggregate. From each one of these systems we extracted four types of shocks: a negative and a positive government spending shock and a negative and a positive government revenue shock. These eight different types of unanticipated fiscal shocks were used next to empirically examine their effects on the growth rate and cyclical component of real private GNP in two sets of regressions: one that assumes only contemporaneous effects of the shocks on output and one that is augmented with four lags of each fiscal shock. Findings – The authors come up with three key findings: first, all fiscal multipliers are below unity but with signs as predicted by Keynesian theory. Second, government expenditures have a larger impact as compared to the tax policy and finally, positive government spending shocks are more significant than negative spending shocks. All these results are in line with previous studies and are robust through many tests using structural identification proposed by Blanchard and Perotti (2002). Practical implications – The empirical findings in this manuscript can be used for conducting a more efficient fiscal policy. The importance of government spending shocks is empirically verified along with the asymmetries related to price stickiness predicted by Keynesian theory. According to the results an efficient fiscal policy would: in terms of an expansionary policy, use government spending as a means to stimulate the economy instead of tax cuts and in the case of a contractionary policy use government revenue (higher taxes) so that the costs of this policy in terms of output lost are lower. Originality/value – In this study the authors introduce three main innovations: first, to the best of our knowledge the Divisia monetary aggregates have not yet been used to previous research pertaining to fiscal policy. Second, following Cover’s (1992) procedure of identifying monetary policy shocks we extract the unanticipated fiscal policy shocks on government spending and revenue. Finally, the authors explicitly test for the asymmetric effects on the growth rate and the cyclical component of real private GNP of a contractionary and expansionary fiscal policy.
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Syka, MSc Xhenet, and Dr Sc Ilir Kaduku. "Correlation between Government and Economic Growth –Fiscal Policy during the Transition in Albania." ILIRIA International Review 3, no. 2 (December 31, 2013): 149. http://dx.doi.org/10.21113/iir.v3i2.121.
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In this paper we tried to analyze some aspects of fiscal policy in our country, without pretending to give our own sample. Fiscal policy is the use of government expenditures and taxes which affect economic activity. Determination of fiscal policy in a given year takes into account the time virtually the past (current socio-economic status) and the implications for the future (fiscal sustainability).In general the cases dealt the role fiscal policy plays toward economic growth. The analysis many focused both in the theoretical treatment as well as the role that fiscal policy has played in our country, going even further in some suggestions for the future. The most important issue was addressed in the long-term fiscal policy view, fiscal sustainability. In the final everything is addressed to the role of fiscal policy on social issues.The role that fiscal policy should play in economic and social development has long been a controversial issue and is still different among economists. While a restrictive fiscal policy means increasing taxes and cut government spending. Fiscal policy may be expansionary or restrictive. An expansionary fiscal policy means a reduction of direct and indirect taxes and increased government expenditures. Choose between two types of fiscal policy is not an easy decision, both in terms of the current state of the economy, as well as political decisions.
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Bhattarai, Saroj, Jae Won Lee, and Choongryul Yang. "Redistribution and the Monetary-Fiscal Policy Mix." Finance and Economics Discussion Series 2021, no. 013 (March 1, 2021): 1–47. http://dx.doi.org/10.17016/feds.2021.013.
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We show that the effectiveness of redistribution policy in stimulating the economy and improving welfare is directly tied to how much inflation it generates, which in turn hinges on monetary-fiscal adjustments that ultimately finance the transfers. We compare two distinct types of monetary-fiscal adjustments: In the monetary regime, the government eventually raises taxes to finance transfers, while in the fiscal regime, inflation rises, effectively imposing inflation taxes on public debt holders. We show analytically in a simple model how the fiscal regime generates larger and more persistent inflation than the monetary regime. In a quantitative application, we use a two-sector, two-agent New Keynesian model, situate the model economy in a COVID-19 recession, and quantify the effects of the transfer components of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. We find that the transfer multipliers are significantly larger under the fiscal regime—which results in a milder contraction—than under the monetary regime, primarily because inflationary pressures of this regime counteract the deflationary forces during the recession. Moreover, redistribution produces a Pareto improvement under the fiscal regime.
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LUTSYK, Anatolii, and Nataliia SYNIUTKA. "TAX INSTRUMENT OF FISCAL POLICY UNDER CONDITIONS OF DIGITALIZATION OF FISCAL SPACE." WORLD OF FINANCE, no. 1(58) (2019): 87–97. http://dx.doi.org/10.35774/sf2019.01.087.
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Introduction. Nowadays information technologies and digital assets came into our lives, generating risks and potential threats to society. A structure of rational fiscal policy in such risks and threats is a key issue for the current policy of the country. Purpose. The purpose of the article is to study methodological approaches to understand the essence and nature of the taxation of individual incomes under the conditions of an innovative digital trend in society, which can be used to implement a fair fiscal policy in Ukraine. Methods. The author used scientific methods such as historical, abstraction, deduction, comparison, analysis, systematization and others. Results. It was established that digitalization processes, on the one hand, can stimulate avoidance and tax evasion, and, on the other hand, can increase the effectiveness of fiscal policy. Digital technologies weaken informational limitations in the implementation of tax control to identify the present economic results of taxpayers, and also allow to implement a complex tax system at lower costs. Conclusions. The fairness of taxation in digitalized fiscal policy and space should be based on ensuring a relatively equal environment for individuals as a result of the comprehensive taxation of various types of individual income - labor, capital and inheritance. Despite this, the use of an information resource in fiscal policy will help to achieve a balance between efficiency and fairness of taxation.
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Shi, Yu, Nisa Yazici Aydemir, and Yonghong Wu. "What Factors Drive Municipal Fiscal Policy Adoption?: An Empirical Investigation of Major Cities in the United States." State and Local Government Review 50, no. 3 (September 2018): 177–88. http://dx.doi.org/10.1177/0160323x18813418.
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Local policy makers operate within a confined decision-making environment and their policy-making capacities are limited by intergovernmental constraints, political culture, service demand, and economic and fiscal condition. This study investigates the effects of these factors on certain types of local fiscal policy adoption in the United States. Based on data from hundred major American cities, the result shows that a combination of state aid, state-imposed local tax and expenditure limits, fiscal decentralization, and tax authority has varied effects on the adoption of fiscal policies such as property tax increases, other tax increases, fees and user charge increases, and personnel cuts.
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Birimkulova, K. D., N. M. Dooronbekova, and S. Chorobekova. "PROBLEMS OF FISCAL POLICY MANAGEMENT IN A CRISIS ECONOMY." Herald of KSUCTA n a N Isanov, no. 4-2020 (December 23, 2020): 627–33. http://dx.doi.org/10.35803/1694-5298.2020.4.627-633.
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The article examines the problems of the fiscal system associated with uneven taxation of various industries and types of enterprises, as well as the possibility of effectively promoting the reform of tax administration in a market economy.
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Coenen, Günter, Christopher J. Erceg, Charles Freedman, Davide Furceri, Michael Kumhof, René Lalonde, Douglas Laxton, et al. "Effects of Fiscal Stimulus in Structural Models." American Economic Journal: Macroeconomics 4, no. 1 (January 1, 2012): 22–68. http://dx.doi.org/10.1257/mac.4.1.22.
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The paper subjects seven structural DSGE models, all used heavily by policymaking institutions, to discretionary fiscal stimulus shocks using seven different fiscal instruments, and compares the results to those of two prominent academic DSGE models. There is considerable agreement across models on both the absolute and relative sizes of different types of fiscal multipliers. The size of many multipliers is large, particularly for spending and targeted transfers. Fiscal policy is most effective if it has moderate persistence and if monetary policy is accommodative. Permanently higher spending or deficits imply significantly lower initial multipliers.(JEL E12, E13, E52, E62)
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Jesus, Diego Pitta de, Cássio da Nóbrega Besarria, and Sinézio Fernandes Maia. "The macroeconomic effects of monetary policy shocks under fiscal constrained." Journal of Economic Studies 47, no. 4 (February 26, 2020): 805–25. http://dx.doi.org/10.1108/jes-01-2019-0011.
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PurposeThis paper aims to analyze the macroeconomic effects of a monetary policy shock considering that fiscal policy is under fiscal constraints. For that, a dynamic stochastic general equilibrium (DSGE) model was developed for Brazil, which was estimated through Bayesian econometrics.Design/methodology/approachIn the basic model, the government does not have any type of fiscal restriction. The other two estimated models, however, consider that the fiscal authority implements some kind of fiscal rule. One of these rules is the Constitutional Amendment 95/2016 (EA 95/2016), which includes a limitation for government spending. The other Alternative Rule seeks to represent the characteristics of a more austere fiscal rule, as proposed by Wesselbaum (2017).FindingsIt was possible to verify in this paper that the implementation of EA 95/2016 by the Brazilian government does not produce statistically different results and that it reduces the welfare of the households in relation to the scenario without fiscal rule. Thus, the proportionate benefit of EA 95/2016 is less than the cost associated with this fiscal rule (less welfare). If the government adopts a fiscal constraint similar to the Alternative Rule, it is possible to considerably reduce the interaction between fiscal and monetary policy, thereby reducing the fiscal dominance policy over monetary policy. However, the cost in terms of welfare is much higher than the baseline scenario. Thus, the fiscal authority is subject to a trade-off among public debt stabilization and household welfare.Originality/valueThe study intends to contribute to the literature on three specific points. First, the monetary–fiscal policy interaction within a representative model of the Brazilian economy is discussed. In addition, the study considers that the government can adopt EA 95/2016 and the Alternative Rule, used in the US economy. Second, the impacts of EA 95/2016 and the Alternative Rule on household welfare will be quantified. Finally, two types of individuals (Ricardian and non-Ricardian agents) and two sectors of production (wholesalers and retailers) are considered. In this paper, the DSGE model is estimated, since the previously mentioned authors performed simulations
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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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Krajewski, Piotr. "Comparison of Nominal and Real Rigidities: Fiscal Policy Perspective." Comparative Economic Research. Central and Eastern Europe 17, no. 1 (April 25, 2014): 61–76. http://dx.doi.org/10.2478/cer-2014-0004.
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This paper examines the impact of nominal and real rigidities in the economy on the effects of fiscal policy. The study confirmed the hypothesis that both nominal and real rigidities enhance the impact of fiscal policy on the Polish economy. In the case of nominal price rigidity it was found that the impact of government spending on GDP depends on the conduct of monetary policy. On the other hand, under conditions of wage rigidity, the strength of fiscal multipliers depends on the slope of the labour supply curve. The study also examined two types of real rigidities - lack of access to the credit market, and consumer habits. Analyses show that the above rigidities result primarily in a strong positive relationship between government spending and the level of consumption.
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Haffert, Lukas. "Permanent budget surpluses as a fiscal regime." Socio-Economic Review 17, no. 4 (November 3, 2017): 1043–63. http://dx.doi.org/10.1093/ser/mwx050.
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Abstract This article challenges the focus on budget deficits that permeates the literature on the comparative political economy of fiscal policy. It analyzes countries running budget surpluses and asks why some preserved these surpluses while others did not. Whereas several OECD members recorded surpluses for just a few years, balanced budgets became the norm in Australia, Canada, Denmark, Finland, New Zealand and Sweden in the late 1990s. The article compares both types of countries. Focusing on Canada and Sweden, it argues that a path-dependent shift in the balance of power among competing fiscal policy coalitions explains why surpluses persisted in one group of countries but not in the other. This reconfiguration of fiscal conflict was triggered by a deep fiscal crisis and an ensuing expenditure-led consolidation. It can be interpreted as creating a ‘surplus regime,’ in which fiscal policy became structured around the goals of balancing the budget and cutting taxes.
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DESYATNYUK, Oksana, and Taras MARSHALOK. "ANTI-CYCLICAL FISCAL REGULATION OF THE WORLDWIDE COUNTRIES’ ECONOMIES – OPPORTUNITIES FOR UKRAINE." Vol 18, No 2 (2019), Vol 18, No 2 (2019) (2019): 245–69. http://dx.doi.org/10.35774/jee2019.02.245.
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The state fiscal policy and its instruments are the main means of economic fluctuations management and they occupy a leading place in the system of the state anti-cyclical regulation of the economy. Special theoretical and methodological aspects of the fiscal policy and analysis of its influence on the course of the economic cycle were well-reasoned on the ground of a large number of scientific publications. However, it is relevant to research into this problem using the pragmatic approach, which will allow to obtain qualitative scientific results and make the necessary conclusions. In particular, the analysis of fiscal processes in the countries with different economic development and social standards will allow to distinguish the strengths and weaknesses of the opposing patterns of fiscal policy models and types and will determine the impact of such policies on economic growth and overcoming the economic crises in these countries.
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Savchenko, Y. M. "The Fiscal Imbalances and Methodological Approaches to Their Assessment." Business Inform 6, no. 521 (2021): 219–28. http://dx.doi.org/10.32983/2222-4459-2021-6-219-228.
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This article generalizes and systematizes approaches to determining the essence of fiscal imbalances and their types, in particular, taking into account and without taking into account the aspect of possible problems in the sphere of fiscal policy. It is also emphasized that when determining the essence of fiscal imbalances, it is important to realize the difference between accounting and financial terms, since analytics in this terminology is also based on different methods of assessing fiscal imbalance. Such deterministic factors of fiscal imbalances as internal tax competition, tax transfer and tax imbalance in general are analyzed. The conception of marginal expenditures of public funds as a central concept in determining fiscal imbalances is characterized. In addition to the traditional types of fiscal imbalances (vertical and horizontal), there is also an imbalance of justice (according to the research of scientist Dolozina I. L.), which is manifested, in particular, in tax evasion, avoidance of taxation (including aggressive tax planning) and income inequality. The generalized classification of types of fiscal imbalances with the characterizations of causes and manifestations of their occurrence is provided. The results of researches of approaches to assessing fiscal imbalances and indicators used are systematized. It is emphasized that the researchers use most of the indicators to assess fiscal imbalances specified in this article to conduct a panel analysis in order to identify the impact of equalization instruments on different territories and groups of taxpayers.
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Hallerberg, Mark. "Veto Players and the Choice of Monetary Institutions." International Organization 56, no. 4 (2002): 775–802. http://dx.doi.org/10.1162/002081802760403775.
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I argue that two types of veto players matter in the choice of monetary institutions: party veto players and subnational governments, which are strong in federal systems but weak in unitary systems. A crucial issue is whether voters can readily identify the manipulation of the economy with party players. A second issue concerns the national party veto player's ability to control either fiscal or monetary policy. In one-party unitary governments identification and control are clear; parties where such governments are common prefer flexible exchange rates and dependent central banks. In multiparty coalition governments in unitary systems, identification is traditionally difficult, and the ability to target benefits to specific constituencies under fiscal policy makes fiscal policy autonomy more attractive for coalition governments. Such governments prefer central banks that are politically independent but that finance government debt. Under federalism, parties that constitute the central government have less control over fiscal policy and they prefer flexible exchange rates. Subnational governments do not support a dependent central bank that gives more power to the central government.
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Leeper, Eric M., Alexander W. Richter, and Todd B. Walker. "Quantitative Effects of Fiscal Foresight." American Economic Journal: Economic Policy 4, no. 2 (May 1, 2012): 115–44. http://dx.doi.org/10.1257/pol.4.2.115.
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Legislative and implementation lags imply that substantial time evolves between when news arrives about fiscal changes and when the changes actually take place—time when households and firms can adjust their behavior. We identify two types of fiscal news—government spending using the Survey of Professional Forecasters and taxes using the municipal bond market. The main contribution of the paper is a mapping from reduced-form estimates of news into a DSGE framework. We find that news about fiscal policy is a time-varying process and show that ignoring the time variation can have important consequences in a conventional macroeconomic model. (JEL E12, E62, H20, H30, H62)
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Niesiobedzka, Malgorzata. "Typology of taxpayers and tax policy." Polish Psychological Bulletin 45, no. 3 (September 1, 2014): 372–79. http://dx.doi.org/10.2478/ppb-2014-0045.
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Abstract The issue how to reduce of tax evasion is widely discussed in the literature. A public authority may affect the behavior of taxpayers, not only through economic factors, but also by strengthen fiscal discipline. In this process especially role play such issues as tax morale, tax mentality and perceived tax justice. The purpose of the study was to identify groups of taxpayers with similar attitudes towards taxes and similar tax behaviors. Cluster analysis elicited four types of tax payers: Intrinsic Tax Payer, External Tax Payer, Intrinsic Tax Evader, External Tax Evader. In the study the most common were the first two types of taxpayers. Elicited types correspond with motivational tax postures identified by Braithwaite(2001, 2003) and Torgler (2003). The conclusions sum up the key issues discussed, policy implications and the limitation of the analysis.
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PETYK, Liubov, Andrii PETROVYCH, and Ivanna PEDCHENKO. "Tax decentralization in Ukraine: problems and prospects." Economics. Finances. Law, no. 12/2 (December 29, 2020): 24–28. http://dx.doi.org/10.37634/efp.2020.12(2).5.
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The paper examines the essence of the concept of “tax (fiscal) decentralization” according to different views of domestic and foreign scholars. The theoretical concept of tax (fiscal) decentralization is analyzed and defined. The stages of the legislative basis for tax decentralization reform in Ukraine are studied, in particular, the norms of the Law “On Amendments to the Budget Code of Ukraine on Reform of Intergovernmental Relations” and “The Concept of Reforming Local Self-Government and Territorial Organization of Power” are considered and analyzed. It is determined what types and amounts of tax revenues go to local budgets according to the introduced legislative changes. The dynamics of own revenues of local budgets during 2014–2019 is studied and the diagram is constructed. The dynamics and structure of tax revenues to local budgets by types of taxes during the period of decentralization reform in Ukraine are considered. Revenues for such types of taxes as income tax, state duty, environmental tax, domestic taxes, local taxes, personal income tax and the general dynamics of tax revenues were studied. The dynamics of revenues to the consolidated budget of Ukraine is studied. The dynamics of the share of local budget revenues in the consolidated budget revenues of Ukraine is calculated and analyzed. A comparison of local budget revenues and intergovernmental transfers during the period of decentralization reform was made. As a result, the lack of orientation of the country's budget policy to the policy of fiscal decentralization was confirmed. The problems of tax decentralization have been identified, among which the main problem is the lack of orientation of the country's budget policy to the policy of fiscal decentralization. Measures to improve the process of tax decentralization in Ukraine have also been proposed, among which the development of such measures that would allow local budgets to receive both additional tax opportunities and optimize expenditures is a priority.
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Muntean, Mircea, and Doina Pacurari. "THE INFLUENCE OF THE INTEGRATION IN THE EUROPEAN UNION ON THE ROMANIAN FISCAL LEGISLATION." STUDIES AND SCIENTIFIC RESEARCHES. ECONOMICS EDITION, no. 13 (December 17, 2008): 56. http://dx.doi.org/10.29358/sceco.v0i13.18.
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Fiscal policy constitutes – within the state's economic policy – a system by means of which the taxes and duties owed to the country's consolidated budget are established and collected. Taking into account the role fiscal policy has been playing since Romania's admission in the European Union, one of the goals ceaselessly looked for is its adapting to the international community's acquis through the implementation of the European directives in our context. The EU directives make reference to direct taxes: dividend tax, interest income tax, assets transfer, shares exchange, income taxation for the non-residents, and so on, along with the indirect taxes: value-added tax, excise duties, etc. The paper approaches the main provisions within the contents of the European directives as well as the means of their implementation in the Romanian fiscal legislation regarding various types of taxes. The implementation of the European directives has been simultaneous with the establishing of measures concerning fiscal fraud prevention, frauds liable to have a negative impact on the state's consolidated budget.
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HALLERBERG, MARK, and SAMI YLÄOUTINEN. "Political Power, Fiscal Institutions and Budgetary Outcomes in Central and Eastern Europe." Journal of Public Policy 30, no. 1 (February 25, 2010): 45–62. http://dx.doi.org/10.1017/s0143814x09990213.
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AbstractThis paper considers the effects of fiscal governance in Central and East European countries 1998–2008. The first part makes predictions about which form of fiscal governance fits which form of government. Under multi-party coalition governments, fiscal contracts where governments make political commitments to multi-annual fiscal plans work well. In countries where two political blocks face off against one another, delegation based around a strong finance ministry should be most effective. The second part examines electoral and party systems, which affect the form of government in place. The third part documents norms, rules, and institutions in place. The final section considers the joint effects of fiscal governance on fiscal outcomes. On balance, the underlying political climate is crucial for determining what types of fiscal norms, institutions, and rules function best. The more countries diverge from their expected form of fiscal governance, the greater the increase in a country's debt burden.
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Kurniawan, Kurniawan. "The Impact of Regional Financial Capability during the COVID-19 Pandemic towards Regional Fiscal Capacity." Saudi Journal of Economics and Finance 6, no. 2 (February 26, 2022): 81–86. http://dx.doi.org/10.36348/sjef.2022.v06i02.006.
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Regional fiscal capacity is the region’s ability reflected in regional revenue, consisting of own-source revenue (PAD), fiscal balance transfers, and other legitimate regional revenues. This study aims at analysing the impact of regional financial capability during the Covid-19 Pandemic towards regional fiscal capacity. The research was conducted in local governments in Indonesia during 2020 using descriptive qualitative analysis. The results showed that generally the Covid-19 Pandemic affected the reduction on own-source revenue (PAD) in almost all provinces in Indonesia during the first semester of 2020. From 66 regencies/cities as the sample from this research, 49 regencies decreased in revenue and expenditure because of the Covid-19 Pandemic. The revenue reduction in each region was caused by regional taxes reduction of around 2,5 percent and 10,68 percent sequentially in the first semester of 2020, fiscal balance transfers around 8,42 percent, and general allocation grant (DAU) around 9,8 percent and 6,94 percent. Meanwhile, to solve the regional fiscal problems, the local governments implemented 2 types of policies: (1) the first policy is to implement a counter-cyclical policy through maintaining economic stability, decreasing revenues, and increasing local government expenditures; (2) the second policy is to implement a pro-cyclical policy through increasing revenues and decreasing expenditures. The present research also found that regencies/cities that implemented a counter-cyclical policy generally increased in expenditure components, such as grant expenditure around 316,51 percent and regional capital expenditure. Some local governments built infrastructure (assets and buildings) during the Covid-19 Pandemic. However, local governments decreased around -1% - 16% for the employee expenditures.
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Supangat, Supangat. "KEBIJAKAN FISKAL NEGARA INDONESIA DALAM PERSPEKTIF EKONOMI ISLAM." Economica: Jurnal Ekonomi Islam 4, no. 2 (May 4, 2016): 91. http://dx.doi.org/10.21580/economica.2013.4.2.781.
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<p><em>As part of the mu</em><em>’</em><em>amalah discourse, fiscal policy in Islam is flexible and open to ijtihad. Texts related to fiscal policy can not be separated from the socio historical circumstances early Islamic society. Interpretation must use a contextual approach</em><em>, </em><em>although the mechanism may be different contextualisation. With the above formulation, this study found in common principles and objectives of the State</em><em>’</em><em>s fiscal policy in Indonesia. In fact, some types of taxes collected by the government is a reformulation of the tax that is applied in the early days of Islam. Thus, the system of fiscal policies during the State of Indonesia is still in the corridors of Shari</em><em>’</em><em>ah. However, implementation of such systems is still far from the expected. With the point of the equation, the government can implement fiscal policies of an Islamic state in accordance with the laws and culture of Indonesia. In this paper, the authors propose the idea to the admissibility of zakat and taxation as a source of state revenue.</em></p>
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Pirlot, Alice, John Vella, and Richard Collier. "COVID-19 and Fiscal Policies: Tax Policy and the COVID-19 Crisis." Intertax 48, Issue 8/9 (August 1, 2020): 794–804. http://dx.doi.org/10.54648/taxi2020078.
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This article provides some preliminary thoughts on tax policy and the COVID-19 crisis. In the first part, it discusses fiscal measures available to policymakers in response to the COVID-19 crisis. The role of taxation will evolve over the different phases of the pandemic: measures have already been adopted to respond to the crisis in the short-term, but questions remain as to the types of measures that should be adopted in the medium and longer-term. In the second part, this article discusses the current and possible future effects of the pandemic on international tax policy. COVID-19, tax policy, international tax reform, transfer pricing, profit shifting, tax and the digital economy.
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Shu, Yumin, and Zhongying Qi. "The Effect of Market-Oriented Government Fiscal Expenditure on the Evolution of Industrial Structure: Evidence from Shenzhen, China." Sustainability 12, no. 9 (May 3, 2020): 3703. http://dx.doi.org/10.3390/su12093703.
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For looking at the effect of public fiscal expenditure of local government on industry, three contradictory points of view: improving effect, impeding effect, and no effect, have been previously discussed in the literature. However, there is no general agreement yet. As the most mature region of China’s socialist market economy with Chinese characteristics, the effect of Shenzhen’s market-oriented fiscal expenditure on the evolution of its industrial structure is worth investigating. This study applies Shenzhen’s fiscal expenditure data and industrial value-added data from 1980 to 2017 to a Bayesian Structure Time Series Model (BSTS). Empirical results show that in Shenzhen, market-oriented public fiscal expenditure presents a significant effect on the evolution of industrial structure. In addition, the promotion effect of different types of public fiscal expenditure on secondary industry is significant but largely subsides later. However, the promotion effect on tertiary industry is comparatively stable. This study suggests that Shenzhen government should apply different types of public fiscal expenditure at least five years in advance to promote the growth of secondary industry and apply fiscal expenditure to promote the tertiary industry when needed.
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Marshalok, Taras. "PECULIARITIES OF STATE POLICY IN THE FIELD OF ANTI-CYCLIC REGULATION OF ECONOMY - THEORY AND METHODOLOGY." Regional’ni aspekti rozvitku produktivnih sil Ukraїni, no. 24 (2019): 63–74. http://dx.doi.org/10.35774/rarrpsu2019.24.063.
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Introduction. Economic cycles, the periodic emergence of economic imbalances, deep economic crises, the need for effective management of economic fluctuations have created the need to develop an effective mechanism for anti-cyclical economic regulation. As a result of the in-depth study of these problems, it has been established that the most effective instruments of anti-cyclical economic regulation are financial instruments owned by the state and divided into monetary and fiscal ones. They in turn are divided into discretionary and non-discretionary, and regulated by legislative acts and regulatory documents. As a result of a retrospective analysis of management of economic cycles through the use of financial means of the state, it has been proved that monetary policy is less sustainable than economic fiscal policy. On the contrary, for the last century, precarious monetary policy has caused many financial and economic upheavals; the world has seen at least three monetary and monetary systems that have been subject to a downturn every time. Therefore, it is not worth considering monetary policy sufficiently effective in the implementation of anti-cyclical regulation. While fiscal policies each time, in all economic crises, have played the role of a "lifeline" for countries that have taken anti-cyclical economic regulation measures. That is why the study of the problem of effective state management of socio-economic fluctuations is one of the most urgent issues of economic science. The goal of the work. To investigate the essence of monetary and fiscal instruments of counter-cyclical regulation of the economy, to identify their strengths and weaknesses, to propose effective mechanisms of counter-cyclical regulation of the economy, which would ensure economic development in the country. Methods. In the course of the research, general scientific and empirical methods of economic science based on a systematic approach are used, in particular: methods of scientific knowledge: dialectical and logical, analysis and synthesis, generalization, graphical, scientific abstraction - in the study of state financial policy in the field of anti-cyclical regulation of the economy. Results. The article deals with the essence of monetary and monetary systems, analyzes their weak and strong sides, identifies the causes of their decline. It was established that monetary factors influenced the emergence of centers of economic crises. The essence of fiscal policy, its types and models, and the way in which its instruments influence the course of the economic cycle are considered and deeply analyzed. The mechanisms of fiscal policy, which should be used by the state at different stages of the economic cycle, are singled out. It is proved that in economically developed countries during the economic crisis it is expedient to use a socially-oriented model of fiscal policy of acyclic nature that most effectively influences the overcoming of economic imbalances and is capable of ensuring the economic equilibrium in the country as soon as possible. Countries that effectively applied the liberal model of fiscal policy, in the conditions of the economic crisis, were forced to resort to transformation towards a more rigid fiscal intervention by the state in economic processes-they were forced to use socially-oriented, acyclic fiscal policies. Only the wider participation of the state in the regulation of economic processes have ensured the rapid and effective overcoming of economic crises, and contributed to the achievement of economic development in most countries of the world. Perspectives. The results of scientific research can be useful for scientists and practitioners who are engaged in research on problems of anti-cyclical regulation of the economy, state financial policy and, in particular, fiscal policy.
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Sanders, James, Giulio Lisi, and Cheryl Schonhardt-Bailey. "Themes and Topics in Parliamentary Oversight Hearings: A New Direction in Textual Data Analysis." Statistics, Politics and Policy 8, no. 2 (December 20, 2017): 153–94. http://dx.doi.org/10.1515/spp-2017-0012.
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Abstract This paper contributes to the growing empirical work on deliberation in legislatures by proposing a novel approach to analysing parliamentary hearings using both thematic and topic modelling textual analysis software. We explore variations in deliberative quality across economic policy type (fiscal policy, monetary policy and financial stability) and across parliamentary chambers (Commons and Lords) in UK select committee oversight hearings during the 2010–2015 Parliament. Our overall focus is not only to suggest a multi-method approach to the textual analysis of parliamentary data, but also to explore more substantive aspects of parliamentary oversight, such as: (1) the extent to which oversight varies between unelected and elected policy makers; and (2) whether parliamentarians conduct oversight more forcefully or more along partisan lines when they are challenging fellow politicians as opposed to central bank officials. Our findings suggest consistent differences in deliberative styles between types of hearings (fiscal, monetary, financial stability) and between chambers (Commons, Lords).
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Antoshkina, A. V., O. Yu Martynenko, and O. V. Tockachev. "TAX POTENTIAL OF THE KRASNODAR TERRITORY: EVALUATION AND WAYS OF IMPROVEMENT." Scientific bulletin of the Southern Institute of Management, no. 3 (October 7, 2018): 63–67. http://dx.doi.org/10.31775/2305-3100-2018-3-63-67.
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The article deals with the system of indicators used in the existing tax statistics and allows to assess the tax potential of the region. For a reliable quantitative assessment of the effectiveness of the fiscal policy of the Krasnodar region was carried out a preliminary analysis of tax statistics for 2015-2017, in particular: tax revenues and fees to the regional budget, indicators of tax arrears to the regional budget, regional tax revenues to the budget of the Russian Federation, indicators of tax arrears to the budget of the Russian Federation (by types of taxes). On the grounds of the review were calculated indicators of the effectiveness of the fiscal policy of the Krasnodar region such as: the level of taxation in the region, the tax collection rate in the region, relations with the Federal budget and the actual tax potential, as well as an assessment of their dynamics for the analyzed period. Based on the results of the analysis, the areas of problems were identified and measures to stimulate fiscal policy and increase the level of tax potential of the Krasnodar region were proposed, and a forecast assessment of the effectiveness of the proposed measures was given.
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Hlushchenko, Svitlana, and Anna Melnyk. "Fiscal Incentives for Economic Development in the World under the Condition of the COVID-19." Scientific Papers NaUKMA. Economics 6, no. 1 (July 30, 2021): 45–51. http://dx.doi.org/10.18523/2519-4739.2021.6.1.45-51.
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The article describes the fiscal stimulus, which used in the world to overcome the negative effects of the recession in the context of the COVID-19 pandemic. The authors used historical and static methods, a combination of methods of analysis and synthesis, etc. Based on the statist analysis of the dynamics of macroeconomic indicators, the authors confirmed that the main development trend of most countries and Ukraine in 2020 is a significant economic decline (falling production, rising public debt, growing fiscal deficit, etc.) caused by the COVID-19 pandemic. The article summarizes that in the recession in 2020, countries use measures to fiscally stimulate households and business units through additional government expenditures and lost budget revenues. The size and structure of fiscal stimulus measures vary among different groups of countries. The main fiscal stimulus during this period are: deferrals and reductions in taxes, a moratorium on the payment of certain types of obligations, various forms of cash surcharges and subsidies, partial unemployment, capital injections into enterprises, loans and guarantees. The debt burden is a significant threat to low-income countries, as debt restructuring and public spending cuts will be relevant in the long run to stabilize debt in such countries. This means limited use of fiscal stimulus to exit the recession and stimulate economic development in the country. The results can have practical application within the framework of the formation of the state fiscal policy to overcome the recession and stimulate economic development in the country. In Ukrainian practice, during the pandemic, the main measures of fiscal stimulus were the use of reduced working day schemes and the expansion of unemployment benefits; changes in taxation; financial support for retirees; subsidies; social and economic support of households and enterprises. JEL classіfіcatіon: H2, H5, H6
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Cho, Im Gon. "Fiscal decentralization in Korea." Asian Education and Development Studies 7, no. 3 (July 9, 2018): 279–90. http://dx.doi.org/10.1108/aeds-11-2017-0113.
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Purpose The purpose of this paper is to make policy recommendations for the current fiscal decentralization discussion by examining the operating mechanisms of local taxes, unconditional grants, and conditional grants within the fiscal relationships between the national government and local governments in Korea. Design/methodology/approach After examining the current fiscal relationships between the national government and the local governments, this paper analyzes trends of local taxes, unconditional grants from both national and high-level local governments, and conditional grants from both national and high-level (or provincial level) local governments between 2002 and 2015. Local governments are classified into high-level local governments, and three types of low-level local governments are: si, kun, and ku. Findings Since the structure of local government finances in Korea is very complicatedly intertwined, the present decentralization discussion regarding increasing the share of local tax revenues may not achieve its purpose of fiscal decentralization. The authorities in charge of revenue allocation should be first decentralized at high-level local governments; high-level local governments should then arrange unconditional and conditional grants from high-level local governments to low-level local governments while taking into consideration unconditional and conditional grants from the national government to low-level governments. Originality/value The dichotomy between the central government and local municipalities has been utilized in the existing discussion regarding fiscal decentralization in Korea, but this study highlights the important resource allocation roles of high-level local governments.
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Vangeel, Wouter, Laurens Defau, and Lieven De Moor. "The influence of a mortgage interest and capital deduction policy on house prices." Journal of Property Investment & Finance 38, no. 6 (March 30, 2020): 563–77. http://dx.doi.org/10.1108/jpif-08-2019-0102.
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PurposeSince 2005, Belgian housing prices have strongly increased. As the timing coincides with the implementation of a new fiscal package in order to stimulate homeownership, our study attempts to provide an understanding whether the mortgage interest and capital deduction (MICPD) policy has had the side-effect of increasing housing prices while, at the same time, controlling for key housing price determinants.Design/methodology/approachA fixed-effects regression model is used on a panel dataset of the three Belgian regions over the period 1995–2015.FindingsEstimations are carried out separately for different house types, being useful as our empirical analysis ascertains a significant price-increasing effect for ordinary houses and apartments but a significant price-reducing effect for villas. In addition, we find, among other things, that interest rates' influence has been less substantial than commonly thought.Originality/valueThese results are relevant for all governments willing to stimulate homeownership through fiscal stimuli.
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Yasin, C. M., B. Yunianto, S. Sugiarti, and G. K. Hudaya. "Implementation of Indonesia coal downstream policy in the trend of fossil energy transition." IOP Conference Series: Earth and Environmental Science 882, no. 1 (November 1, 2021): 012083. http://dx.doi.org/10.1088/1755-1315/882/1/012083.
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Abstract The implementation of downstream coal policies in Indonesia is regulated in Law Number 3 of 2020 to optimize coal’s domestic use and value-added. The policy is also supported by the issuance of fiscal, non-fiscal, and regional incentives. In Law Number 3 of 2020, the government of Indonesia states six types of coal downstream: coal upgrading; coal briquetting; cokes making; coal liquefaction; coal gasification; and coal slurry, yet the government has not defined which downstream coal products should be prioritized. Several parameters must be considered in implementing the downstream coal policy, those are the availability of coal and its characteristics, proven technology, economic and environmental feasibility. This study examines the mineral and coal sector regulation, taxation, coal resources and reserves, technology, and economics. In addition, to implement the commitment of reducing CO2 emissions, this study also considers applying Carbon Capture and Storage (CCS) or Carbon Capture, Utilization, and Storage (CCUS) technology to implement downstream coal policy.
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Baker, Scott R., Nicholas Bloom, and Steven J. Davis. "Measuring Economic Policy Uncertainty*." Quarterly Journal of Economics 131, no. 4 (July 11, 2016): 1593–636. http://dx.doi.org/10.1093/qje/qjw024.
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Abstract We develop a new index of economic policy uncertainty (EPU) based on newspaper coverage frequency. Several types of evidence—including human readings of 12,000 newspaper articles—indicate that our index proxies for movements in policy-related economic uncertainty. Our U.S. index spikes near tight presidential elections, Gulf Wars I and II, the 9/11 attacks, the failure of Lehman Brothers, the 2011 debt ceiling dispute, and other major battles over fiscal policy. Using firm-level data, we find that policy uncertainty is associated with greater stock price volatility and reduced investment and employment in policy-sensitive sectors like defense, health care, finance, and infrastructure construction. At the macro level, innovations in policy uncertainty foreshadow declines in investment, output, and employment in the United States and, in a panel vector autoregressive setting, for 12 major economies. Extending our U.S. index back to 1900, EPU rose dramatically in the 1930s (from late 1931) and has drifted upward since the 1960s.
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Feranika, Ayu, and Dini Haryati. "Strategi Kebijakan Fiskal Terhadap Output dan Inflasi pada Perekonomian Indonesia dalam Menghadapi Dampak Virus Covid 19." Business Innovation and Entrepreneurship Journal 2, no. 3 (August 31, 2020): 146–52. http://dx.doi.org/10.35899/biej.v2i3.154.
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Abstract- This study aims to determine the fiscal policy strategy on output and inflation in the Indonesian economy in dealing with the effects of the covid virus 19. In this study, researchers chose to use descriptive research types, namely to explain an event whose operation revolves around data collection, data processing and data interpretation which is given a national meaning while still holding the principles of logic to form holistic conclusions. Data obtained through the study of literature, by reading and analyzing and analyzing a variety of literature, both in the form of documents, journals, publication data from the ministry of finance and from the official website that releases information that is relevant to research. While the data analysis is done by reducing, classifying, interpreting, and drawing conclusions. The Indonesian government adopted a comprehensive policy in the fiscal and monetary sector to deal with Covid-19. In the fiscal sector, the Government conducts a policy of refocusing activities and budget reallocation. From the revenue side, the government must pay attention to the contribution contribution from PPN and PPh Agency and from the expenditure side, the government must be able to pay attention to the realization of the use of these funds so that it is right on target and prioritizes the priority activities of the Covid pandemic prevention -19 To suppress the budget deficit.
Abstrak– Penelitian ini bertujuan untuk mengetahui strategi kebijakan fiskal terhadap output dan inflasi pada perekonomian indonesia dalam mengahadapi dampak virus covid 19. Pada penelitian ini,peneliti memilih menggunakan tipe penelitian deskriptif, yaitu untuk menjelaskan suatu peristiwa yang operasionalisasinya berkisar pada pengumpulan data, pengolahan data dan penafsiran data yang diberi makna secararasional dengan tetap memegang prinsip-prinsip logika sehingga terbentuk kesimpulan yang holistik. Data diperoleh melalui studi literatur, dengan membaca dan menelaah serta menganalisa berbagai literatur, baik berupa dokumen, jurnal, data publikasi dari kementerian keuangan maupun dari website resmi yang mengeluarkan informasiinformasi yang relevan terhadap penelitian. Sementara analisa data dilakukan denganmelakukan reduksi, klasifikasi, pemaknaan hingga penarikan kesimpulan. Pemerintah Indonesia mengambil kebijakan yang komprehensif di bidang fiskal dan moneter untuk menghadapi Covid-19. Di bidang fiskal, Pemerintah melakukan kebijakan refocusing kegiatan dan realokasi anggaran.Dari sisi penerimaan, pemerintah harus memperhatikan pemberian kontribusi penerimaan dari PPN dan PPh Badan dan dari sisi pengeluaran, pemerintah harus mampumemperhatikan realisasi penggunaan dana tersebut agar tepat sasaran dan mengutamakan kegiatan prioritas pencegahan pandemik Covid-19 Untuk menekan defisit anggaran.
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Ishi, Hiromitsu. "The Budgetary Behavior of Local Governments and Intergovernmental Grant Policies: A Case Study for Japan." Environment and Planning C: Government and Policy 3, no. 4 (December 1985): 403–15. http://dx.doi.org/10.1068/c030403.
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The basic aim in this paper is to clarify intergovernmental fiscal relations in Japan. Particular attention is paid to the impact of various types of central government grants on the local government budgets. This is an important issue in a nation like Japan, where the fiscal system is strongly centralized. First, a model is constructed to express the local fiscal behavior under the present grant policies, following the past attempts developed in the United States of America. Then, the estimates of this model are attempted using available data, and some policy questions are examined. The main empirical conclusions that are drawn from the Japanese experience are much more plausible than those in the US case. This implies that the control of central government via various grant policies is more dominant in Japan.
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Marmor, Theodore R. "Policy Entrepreneurship in Government: An American Study." Journal of Public Policy 6, no. 3 (July 1986): 225–53. http://dx.doi.org/10.1017/s0143814x00004013.
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ABSTRACTThis essay contrasts the careers of Robert Ball and Wilbur Cohen, two American public administrators who have devoted fifty years to America's social insurance institutions, with other types of public actors, especially the in and outer rising spirally across departments, policies and administrations. America's separation of powers and federalism reward with influence those who combine entrepreneurial energy, long-term program commitment, and managerial skill; other political structures provide different patterns of opportunities and constraints. It then applies this perspective to Ball and Cohen's participation in three periods of American social policy history: the formation of federal social insurance policy (1935 to 1950); the expansion period (1950–1970); and the turbulent period of stagflation and fiscal stress (1972 to the present).
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Watson, Diane, Greg Finlayson, and Philip Jacobs. "Comparing Apples to Apples: The Relative Financial Performance of Manitoba's Acute Care Hospitals." Healthcare Management Forum 15, no. 4_suppl (December 2002): 39–46. http://dx.doi.org/10.1016/s0840-4704(10)60181-0.
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This paper presents comparative financial ratios that can be adopted by health system administrators and policy analysts to begin to evaluate the performance of acute care hospitals. We combined financial, statistical and clinical information for 73 acute care hospitals in Manitoba for fiscal 1997/98 to calculate 15 indicators of financial performance. Our findings suggest that there is variability between hospital types in their average costs per weighted case, cost structure and financial performance.
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Ji, Li, and Wei Zhang. "Fiscal Incentives and Sustainable Urbanization: Evidence from China." Sustainability 12, no. 1 (December 21, 2019): 103. http://dx.doi.org/10.3390/su12010103.
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Fiscal incentives can affect governments’ behavior and further influence economic and social development. Due to the specific conditions of the household registration system and the land ownership system in China, the urbanization process is dominated by the government. This article conceptually and empirically investigates the influence of fiscal incentives on sustainable urbanization. We theoretically analyze the fiscal reasons why land urbanization occurs faster than the population urbanization. Then we employ panel data of 30 provinces and autonomous regions in China from 2000 to 2012 to discuss the impact of fiscal incentives on urbanization from four aspects: fiscal revenue, types of taxes, fiscal self-financing rate, and tax losses. The econometric results show that both the local tax revenue and fiscal self-financing rate have a significantly negative effect on the gap between land urbanization and population urbanization. The larger the proportion of business tax, the smaller the gap, and vice versa for value-added tax. The greater the local governments’ tax losses, the greater the gap. The results explain why local governments in China choose land urbanization rather than population urbanization from the perspective of fiscal incentives.
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Modlin, Steve, and LaShonda M. Stewart. "Determining county government fiscal instability: Independent audit report findings and the prompting of state action." Journal of Public Budgeting, Accounting & Financial Management 26, no. 3 (March 1, 2014): 405–28. http://dx.doi.org/10.1108/jpbafm-26-03-2014-b002.
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Decreasing revenues among local governments across the country have placed an increased focus on governmental financial practices. For states with local government financial oversight organizations, the ratios and other benchmarks used to assess fiscal stability face increased scrutiny. This study examines financial reports sent to North Carolina’s financial oversight body, the Local Government Commission (LGC), to determine the types of operational and policy practices that can lead to fiscal stress based on guidelines established by the LGC. Findings indicate that lowering levels of fund balance, increased salaries, increased debt service levels, and the presence of a countywide water system all increased the probability of a county government receiving notice of potential financing problems requiring immediate action.
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Blanton, Robert G., Shannon Lindsey Blanton, and Dursun Peksen. "Confronting human trafficking: The role of state capacity." Conflict Management and Peace Science 37, no. 4 (August 10, 2018): 471–89. http://dx.doi.org/10.1177/0738894218789875.
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While human trafficking occupies a prominent place on the global policy agenda, many aspects of this phenomenon remain empirically underdeveloped. We examine the role of state capacity in these illicit supply chains, positing that trafficking flows may persist because even well-intentioned states might lack the requisite capacity to take effective action. Along those lines, we assess the impact of two facets of state capacity, bureaucratic efficacy and fiscal capacity, upon the probability of a country being a source or destination for the two types of human trafficking, forced labor and prostitution. We find that state capacity, particularly fiscal capacity, is significantly related to reduced labor and sex trafficking at both the source and destination levels.
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Turyanskyy, Yuriy. "TRANSFORMATION OF TAX REGULATION IN EU COUNTRIES: POSITIVE EXPERIENCE FOR UKRAINE." Economic discourse, no. 1 (March 2020): 97–104. http://dx.doi.org/10.36742/2410-0919-2020-1-11.
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Introduction. Ukraine's active progress towards integration with the European social and economic space requires an update of domestic fiscal policy to ensure adequate cooperation with European countries. The need for changes in tax regulation in the context of integration processes actualises the issue of generalizing the features of fiscal policy in the EU with the identification of the most positive experience of reforming it. Methods. The following methds are used in conducting the research: systematic, institutional methods (to study the tax system and mechanisms for regulating tax relations in individual EU countries), the trend analysis method (to analyze the dynamics of tax rates and tax revenues in EU countries). Eurostat data on major tax aggregates of national accounts of different countries were used as an information source. Results. The current tax policy of EU countries is characterized by the co-ordination of the interests of each state, the abolition of inefficient elements of tax systems and the renunciation of nominal tax sovereignty. Bid sizes are not uniform and tax rates are quite low. The effectiveness of the EU tax system is manifested primarily in the distribution of taxes, that is, in their share in the overall structure of tax revenues. The highest is the share of indirect taxes, with the average value of the share of VAT fluctuating within 20-30%, the share of personal tax - within 8-30%. Considering the positive experience of the EU member states, the main directions of transformation of tax regulation of Ukraine are the implementation of EU norms in the field of taxation into the legal system and tax practice: improvement of tax policy principles, as well as modification of the national structure of tax types in accordance with European standards; ensuring the systematic and efficient functioning of the internal taxation regime and the tax administration process. Discussion. Further scientific research should cover the development and use of state-of-the-art analytical tools for tax burden forecasting and fiscal regulation effectiveness. Keywords: tax system, fiscal policy, tax burden, tax administration, taxpayers, European integration, economic integration.
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Grytsyshen, Dymytrii. "Methodology of implementation of the state criminal policy in the field of prevention and counteraction to economic crime in the context of interaction with other types of state policy." Public administration aspects 8, no. 5 (October 30, 2020): 97–106. http://dx.doi.org/10.15421/152098.
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Today, the issue of cooperation is facing the processes of formation and implementation of state criminal policy in the field of prevention and combating economic crime. This issue is especially relevant for Ukraine and needs to be studied from the standpoint of public administration science. In view of this, the purpose of the study is to determine the methodology of state criminal policy in the field of prevention and combating economic crime in the context of interaction with other types of public policy. The types of economic crimes that are the greatest threats to national security have been identified. Each direction of state policy to combat economic crime is considered by the following most common types: unfair competition, legalization (laundering) of proceeds from crime and terrorist financing, raiding, misuse of budget funds, tax evasion, corruption) sectors of public administration. It is proved that the process of prevention and counteraction of unfair competition is realized through various types of state policy, namely: state anti-corruption policy, state competition policy and state investment policy. It is determined that corruption can penetrate all spheres of public life and be a source of a set of risks in the economic, social, political and legal systems, the consequences of which are a low level of national security and can cause danger at the regional and international levels. For each type of economic crime, the types of state policy are defined: anti-terrorist policy; investment policy; competition policy; monetary policy; budget policy; fiscal policy; anti-corruption policy; state criminal policy. The conclusions substantiate the peculiarities of the implementation of state policy in terms of preventing and combating economic crime, which is the basis for the formation of its conceptual and methodological provisions.
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Bidabad, Bijan. "Islamic Monetary Policy and Rastin Swap Bonds." International Journal of Islamic Banking and Finance Research 3, no. 2 (May 25, 2019): 1–16. http://dx.doi.org/10.46281/ijibfr.v3i2.269.
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Purpose: This paper aims to examine monetary instruments in Islamic central banking framework. As a conclusion, to revive Islamic monetary policy, we should provide some public equity-based instrument as a necessary replacement for conventional bonds and treasury bills to activate non-usury open market operations.
Design: We define a type of new negotiable bond as: “Rastin Swap Bonds (RSBs)”, which is based on swapping money between two persons for two different periods.
Findings: RSB is a financial paper that observes the right for the lender to borrow an equal amount to his lending from the borrower. Four types of RSBs in domestic money and foreign currency are defined, and their Sharia allowances and monetary, fiscal, and financial effects are evaluated.
Research limitations: This bond is a novel design, and it is required to be more elaborated for further practical development and adjustment.
Practical implications: Islamic central banking is not different from conventional central banking as a whole, but the role of an Islamic central bank in conducting monetary policy is restricted to use interest-free monetary instruments in an environment that commercial banks are obliged to implement non-usury banking operations.
Social implications: Islamic financial instruments should be usury-free and efficient in applying monetary, fiscal, and financial policies at different levels of the central bank, government and commercial banks and non-banking money and financial institutions. Rastin Swap Bond will serve as an important instrument for resource mobilization and will be a primary vehicle for the development of the Islamic capital market and central banking operations.
Originality/value: Conventional interest-bearing bonds are not allowed in Islamic central banking. This restriction mostly distinguishes Islamic central banking from the conventional one in implementing monetary policy.
Article Type: Technical paper
JEL: G21, G28, H81
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Sheikh, Muhammad Ramzan, Muhammad Hanif Akhtar, Muhammad Nauman Abbasi, and Fahid Subhania. "Economic Determinants of Tax Buoyancy in Pakistan: An ARDL Bounds Testing Approach." Review of Economics and Development Studies 4, no. 1 (June 1, 2018): 11–22. http://dx.doi.org/10.26710/reads.v4i1.276.
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Fiscal policy, being the policy of government expenditures and revenues can play an imperative role in mobilization of resources. Tax revenues determine the capability of an economy to finance government spending but tax situation in many developing countries like Pakistan is very unfortunate. This study explores the economic determinants of tax buoyancy in Pakistan for the period of 1996 to 2016. For this purpose, aggregate and disaggregated analyses of various types of taxes have been conducted using the ARDL bounds test technique. The findings of the study demonstrate that various taxes buoyancies have mixed results with various economic factors.
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Yakovleva, A. S., and E. G. Lyubovtseva. "Tax policy impact on shadow economy." Vestnik Universiteta, no. 1 (March 2, 2022): 109–16. http://dx.doi.org/10.26425/1816-4277-2022-1-109-116.
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The article examines the relationship between tax policy and the shadow economy. The tax burden was chosen as a tax policy indicator; the shadow economy is assessed using the Rosstat methodology. When comparing the tax burden in the country as a whole and the shadow economy volumes, a decrease in the shadow economy indicators was noted with a relatively high tax burden. When comparing the shadow economy and the tax burden by economic activity types, an insignificant relationship between the studied indicators was revealed, however, in some sectors of the economy, a feedback was noted. The introduction of a tax on professional income has led to an increase in the number of self-employed. However, the share of the self-employed in the number of those employed in the informal sector in the Volga Federal District showed a high heterogeneity across regions. The conclusion was drawn about the influence of many factors on the shadow economy, as a result of which the use of only fiscal policy instruments to reduce the shadow sector seems insufficient.
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Gavrilyeva, T. N., E. A. Arkhangelskaya, V. G. Burnasheva, O. S. Danilova, and V. N. Kirillina. "Land tax in the largest cities of the Far Eastern federal district: comparative analysis." Zemleustrojstvo, kadastr i monitoring zemel' (Land management, cadastre and land monitoring), no. 10 (September 1, 2021): 758–63. http://dx.doi.org/10.33920/sel-04-2110-05.
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The article contains a comparative analysis of land taxation in the largest cities of the Russian Far East and includes: assessment of land resources by categories and types of ownership, differentiation of land tax rates by types of permitted use and cadastral value by segments of local land markets. A specific feature of the Far East cities is a high share of forests, determining a relatively low share of private property in the structure of urban lands. The real fiscal autonomy of a local self-government bodies in Russian Federation in the field of land and property policy was proved in this work.
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Saunders, L. Duncan, and Margaret Wanke. "Toward a Framework for Health Service Research." Healthcare Management Forum 9, no. 1 (April 1996): 28–34. http://dx.doi.org/10.1016/s0840-4704(10)60941-6.
Full textAbstract:
Fiscal concerns have provided the impetus for wide-ranging attempts to reform the delivery of health care in Canada. Health reform has in turn stimulated great interest and activity in health service research. For health service research to be of maximum use in addressing current and future challenges to the health care system, closer liaison is needed between researchers and decision makers — the users of research. The purpose of this paper is to promote greater interaction between decision makers and researchers by proposing a framework for health predicated on types of information needed for decision-making rather than on study methodologies. We distinguish between decision makers at the societal, health system, program and service levels. Types of studies are classified by their purpose and by the phase of the management cycle for which they provide information for decision-making.
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Garrett, Geoffrey. "Capital mobility, trade, and the domestic politics of economic policy." International Organization 49, no. 4 (1995): 657–87. http://dx.doi.org/10.1017/s0020818300028472.
Full textAbstract:
The conventional wisdom about the domestic political effects of economic internationalization in recent decades is overdrawn and too simple. Increasing exposure to trade and capital mobility has not led all countries to pursue the same types of economic policies. The political power of the left and the strength of organized labor still have a marked bearing on macroeconomic policy. Rather than being constrained by internationalization, the relationship between left-labor power and fiscal expansions has increased with greater trade and capital mobility. However, the political left and organized labor have had to pay a price for these expansions. With greater exposure to world market forces, left-labor power has been increasingly associated with lower levels of corporate taxation and with higher interest rates. Nonetheless, common assertions about the demise of partisan politics must be reconsidered.