In Belarus, divestiture of social assets, a misnomer for fringe benefits that comprise a part of wages, is needed to transform enterprises so they can function appropriately in a market economy. Maintaining supply of these services after enterprise divestiture is an important public policy...

The author examines the eroding tax base facing transitional economies by employing a framework that allows risk factors in assessing tax instruments. In an uncertain world, the author asks, which tax instruments should be used? The author examines Eastern Europe's revenue problem, including the...

Natural resources are typically subject both to taxation under the income tax system and to special resource taxes. Properly designed income taxes attempt to include capital income on a uniform basis. But in most countries the income tax treats resource industries more favorably than most other...

The author summarizes the major findings and recommendations in Averting the Old Age Crisis, describing problems in traditional pension systems and proposals for reform. Then she describes how those reforms are being implemented in many countries and examines empirical evidence about pension...

The authors investigate the association between per capita income and the magnitude and quality of road infrastructure. They adopt an empirical approach, directly comparing or correlating a countries income with selected variables associated with existing road networks. Cross-section analysis of...

Three dimensions of public goods--nonrivalry of benefits, the possibility of being excluded from benefits, and the technology for aggregating public supply--determine what kinds of institutions and transnational actions are required for their provision and financing. For some public...

Should the United States increase taxes and tariffs in the energy sector to reduce its federal deficit? This paper uses a twelve sector general equilibrium model to estimate the fiscal effects, and the effects on welfare and employment, of : (i) a 25 percent import tax on imported crude...

Interdependence of trade and public finance policy are important considerations in designing macroeconomic policy, public revenue policy, and public expenditure policy. A competitive real exchange rate, improved trade performance, and trade liberalization are all built on the base of sound...

In developing countries, most financial assets in formal markets are deposits at financial institutions. This potentially important tax base could be taxed at a low administrative cost. When revenues of financial taxes are significant, implicit taxes dwarf explicit taxes. The author focuses on...

Adjustment to the macroeconomic crises of the eighties was least successful on the fiscal front. The authors, in this introduction to a symposium on fiscal issues in adjustment, summarize the issues raised by papers in the symposium. Those papers deal with various aspects of the fiscal crisis...