Most government expenditure is financed by taxes, which not only raise revenue but also often constitute a major government instrument to influence income distribution. The effects of government expenditure on income distribution have received considerable attention in recent years. Therefore,...

Monetary policy is among the indirect policy instruments that are increasingly being relied upon in China as a result of the process of economic reform launched in 1979. Previously, the main function of monetary policy was to support the implementation of the central plan while maintaining...