Public Finance

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 Fiscal Policy and Aging: Public Pension Programs: Justifications for Public Pension Programs Types of Public Pension Programs Advantages and Risks National Pension Programs: Illustrative Examples Population Aging and the Outlook for Public Pension Programs Reforming Public Pension Programs: A General Approach Summary Fiscal Policy and Health Care: Basic Characteristics of Health Care The Role of Government in Health Care Trends in Health Expenditures Singapore: Avoiding the Rise in Health Care Expenditures as a Percentage of GDP Strategies for Containing Fiscal Costs for Health Care Summary Fiscal Rules: Kinds of Fiscal Rules and Their Implications Effectiveness of Fiscal Rules Fiscal Rules as Part of the Framework for Fiscal Policymaking Developing Effective Fiscal Rules Recent Experience with Fiscal Rules Summary Fiscal Reforms:...