Showing 1 - 10 of 12
We explore the role of government in the nexus of finance and trade starting from the earliest days of organised … finance in England and then broadening the analysis to 84 countries from 1960 to 2004. For 18th century England, we find that …
Persistent link: https://www.econbiz.de/10013137020
Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement...
Persistent link: https://www.econbiz.de/10013117212
We study a fiscal policy model in which the government is present-biased towards public spending. Society chooses a fiscal rule to trade off the benefit of committing the government to not overspend against the benefit of granting it flexibility to react to privately observed shocks to the value...
Persistent link: https://www.econbiz.de/10012894435
We study a fiscal policy model in which the government is present-biased towards public spending. Society chooses a fiscal rule to trade off the benefit of committing the government to not overspend against the benefit of granting it flexibility to react to privately observed shocks to the value...
Persistent link: https://www.econbiz.de/10012946006
There are two main forms of government in U.S. cities: council-manager and mayor-council. This paper develops a theory of fiscal policy determination under these two forms. The theory predicts that expected public spending will be lower under mayor-council, but that either form of government...
Persistent link: https://www.econbiz.de/10012757587
Like many other developed economies, the United States has imposed fiscal rules in attempting to impose a degree of fiscal discipline on the political process of budget determination. The federal government has operated under a series of budget control regimes that have been complex in nature...
Persistent link: https://www.econbiz.de/10012758451
The recent literature on endogenous economic growth allows for effects of fiscal policy on long-term growth. If the social rate of return on investment exceeds the private return, then tax policies that encourage investment can raise the growth rate and levels of utility. An excess of the social...
Persistent link: https://www.econbiz.de/10013213083
The report, a joint effort by the Bank, and the Inter-American Development Bank, seeks to provide the Ecuadorian authorities with a comprehensive account of both institutions' diagnoses and recommendations in the area of fiscal management and public expenditure. This report consists of two...
Persistent link: https://www.econbiz.de/10012559296
The report, a joint effort by the Bank, and the Inter-American Development Bank, seeks to provide the Ecuadorian authorities with a comprehensive account of both institutions' diagnoses and recommendations in the area of fiscal management and public expenditure. This report consists of two...
Persistent link: https://www.econbiz.de/10012559297
Mongolia has realized important progress toward more efficient and sustainable public finances over the last decade. However, weaknesses in the institutional and structural reform agenda threaten Mongolia's fiscal balances. The government proposes to grow at 6 percent. This report discusses...
Persistent link: https://www.econbiz.de/10012558729