Public Finance: An International Perspective

This book expands on issues like fiscal sustainability, state enterprises and the variety of subsidies, with a multi-country focus. Drawing examples from numerous countries, it presents issues in contemporary finance and especially fiscal policy that can benefit researchers and civil servants from both developed, as well as developing worlds and emerging market economies.

Written in a simple and accessible manner, this book will be of interest to civil servants and… (more)

This book expands on issues like fiscal sustainability, state enterprises and the variety of subsidies, with a multi-country focus. Drawing examples from numerous countries, it presents issues in contemporary finance and especially fiscal policy that can benefit researchers and civil servants from both developed, as well as developing worlds and emerging market economies.

Written in a simple and accessible manner, this book will be of interest to civil servants and practitioners. It also serves as a reference source for students and academics, and can be used as a textbook for advanced courses on public finance.Contents:

• The Role of Government in a Modern Market Economy:
  • The Economic Justification for Government Activity
  • Specific Activities for Governments
  • Summary
• How Fiscal Policy Affects the National Economy:
  • Fiscal Policy: An Introduction
  • Fiscal Policy and Aggregate Demand
  • Fiscal Policy and the Supply Side
  • Fiscal Policy and the Balance of Payments
  • The Interaction between Fiscal and Monetary Policy
  • Using Fiscal Policy for Macroeconomic Management
  • Limitations on Fiscal Policy
  • Summary
• How the National Economy Affects the Fiscal Sector:
  • Business Cycles and the Government Budget
  • How the Stage of Economic Development and Other Factors Affect Fiscal Policy
  • Is Fiscal Policy Pro- or Counter-Cyclical?
  • Making Policy More Counter-Cyclical
  • Summary
• Fiscal Accounts, Analysis, and Forecasting:
  • Coverage of the Fiscal Sector
  • Fiscal Accounts
  • Fiscal Analysis: Key Indicators
  • Fiscal Forecasting
  • Summary
• Fiscal (Public Debt) Sustainability:
  • Assessing Sustainability: Basic Considerations
  • Analysis of Fiscal Solvency
  • Sustainability: Going Beyond the Basics
  • Fiscal Sustainability and the Financial Crisis of 2007–09
  • Summary
• Revenue Policy:
  • Selected Data on Government Revenue
  • Purposes of Taxation
  • Principles for an Effective Revenue System
  • Major Revenue Sources
  • Other Tax Policy Issues
  • Tax Administration
  • Summary
• Expenditure Policy and Reform:
  • Rationales for Government Expenditure: A Brief Review
  • Expenditure Levels and Composition — An International Comparison
  • Main Categories of Government Expenditure
  • Issues Affecting Specific Categories of Expenditure
  • Special Expenditure Issues
  • Tools for Controlling Expenditure
  • Summary
• State Enterprises:
  • Justifications for State Enterprises
  • Economic Implications of State Ownership
  • Reforming State Enterprises
  • Privatization
  • Summary
• Fiscal Aspects of Responding to Financial Crisis and Bank Restructuring:
  • Background: What Triggers Bank Failures and the Need for Restructuring
  • Justification for Public Sector Response to Bank Failure and Financial Crisis
  • Policy Options to Support Failing Banks
  • Summary
• Fiscal Federalism and Decentralization:
  • Assigning Expenditure Responsibilities to Different Levels of Government — General Principles
  • Assigning Revenue Sources to Different Levels of Government — General Principles
  • Intergovernmental Transfers in Federal Systems
  • Achieving Fiscal Control in Federal Systems
  • Fiscal Federalism in Practice
  • Summary
• Fiscal Policy for Promoting Growth and Alleviating Poverty:
  • Using Fiscal Policy to Promote Growth
  • Using Fiscal Policy to Alleviate Poverty and Unemployment
  • Summary