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  • E62
  • Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)  (27)
  • Wiley
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  • 1
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    Fiscal pressure of migration & horizontal fiscal inequality: Evidence from Indian experience (2018)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-12-15
    Description: This paper examines the patterns and trends in inter-state migration across Indian states and observes that migration is affected by demographic profile as well as the fiscal profile of states. Econometric estimation suggests that level of vertical federal transfers and its horizontal distribution has an impact on out-migration. To correct for the extant horizontal fiscal inequality across Indian states, the paper suggests a relatively more progressive transfer system and a developmental fiscal policy stance at the state level to reduce pressure of out-migration to prosperous regions of the country.
    Keywords: E62 ; H7 ; O15 ; C33 ; ddc:330 ; Migration ; inequality ; demography ; fiscal policy ; state finance ; intergovernmental transfers
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 2
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    Fiscal multipliers in South Africa: The importance of financial sector dynamics (2018)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-12-15
    Description: We analyse implications of financial sector dynamics for fiscal expenditure multipliers in recessionary conditions. We employ a stock-and-flow-consistent model for South Africa with four financial instruments and detailed balance sheets for the household, government, financial, non-financial, and foreign sectors, and the Reserve Bank. The increase in government expenditure positively affects the probability of default, valuations, and perceptions of risk. Higher inflows of foreign savings can increase the multiplier further by reducing the domestic savings constraint. The size of the fiscal multipliers is also dependent on the actions of domestic and foreign monetary authorities, thus emphasizing the importance of policy co-ordination.
    Keywords: C68 ; D53 ; D58 ; E44 ; E62 ; ddc:330 ; stock-and-flow consistent ; financial dynamics ; fiscal multipliers ; South Africa
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 3
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    The copper sector, fiscal rules, and stabilization funds in Chile: Scope and limits (2017)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-11-16
    Description: Historically, Chile has been an economy dominated by mineral and agro-industrial products and subject to frequent external shocks particularly in copper prices. Since the 1980s, the authorities have developed various mechanisms to cope with these shocks and dampen their effects on the domestic business cycle. These mechanisms include a fiscal rule, an economic and social stabilization fund, a pension reserve fund, and a (informal) 'defence fund'. The first two sovereign wealth funds are regulated by a Fiscal Responsibility Law and complemented by a flexible exchange rate regime and an autonomous Central Bank. This paper recognizes that this macro framework has been associated (causality is another matter) with reasonably good macro outcomes. However, the paper highlights some trade-offs and questions not always recognized in evaluations of the Chilean case and cautions against a blind endorsement of macro rules as the cornerstone for good macro management. In general, this framework entails more discretion than often portrayed and includes: (i) frequent revisions in the methodology that affects the fiscal rule and the level of the structural balance by the authorities, thereby reducing its anchoring role on expectations and policy predictability; (ii) SWFs tend to have clear rules for accumulating resources at good times but no rules for using them at bad times; and (iii) a possible bias to over-accumulation of resources in SWFs without paying attention to the opportunity cost of over-investing in stabilization funds at the cost of less resources being available for funding egalitarian social policy in a high-inequality country.
    Keywords: E5 ; E62 ; O5 ; O11 ; O16 ; K00 ; ddc:330 ; fiscal policy ; natural resources ; structural balance ; sovereign wealth funds ; commodity shocks
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 4
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    The economics and politics of foreign aid and domestic revenue (2017)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-12-15
    Description: The main argument of this paper is that there is considerable heterogeneity in the way aid can shape tax performance in developing countries: through behavioural effects, donor conditionality, recipient policy reform and technical assistance; and these effects are country-specific. We investigate these effects by applying the dynamic Common Correlated Effects Mean Group estimator to a dataset comprising 84 developing countries from 1980 to 2013. The following results ensued: aid and taxes comprise an equilibrium relation, with a positive long-run association between aid and taxes; causality runs from aid to taxes, suggesting that on average, changes in aid induce permanent changes in taxes.
    Keywords: C23 ; E62 ; F35 ; O23 ; ddc:330 ; aid ; taxation ; tax reform ; cointegration ; common factor models
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 5
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    Tax structures and economic growth: New evidence from the Government Revenue Dataset (2016)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-11-16
    Description: Recent work on the relationship between tax structure and economic growth has offered little reliable evidence for developing countries. Yet it is in such countries where the greatest changes in tax structure not only have been seen over the past 30 years but will likely continue to be seen in the future. Thus, an understanding of what, if any, links exist between the tax mix and the long-run economic growth rate is of vital importance to policymakers. Using the Government Revenue Dataset (GRD) from the International Centre for Tax and Development (ICTD), this study considers the effects of revenue-neutral changes in tax structure on a panel of 100 developing and developed countries. The results suggest that the biggest shifts in tax structure seen over the past three decades - i.e. shifts away from trade toward domestic consumption taxes - have had modest positive effects only for those economies classed as lower-middle-income. Furthermore, revenue-neutral increases in personal income taxes or social contributions are found to be harmful for long-run per capita GDP growth rates. These findings call some existing results into question; specifically, this paper finds that the effects of different taxes on growth differ according to income level, calling into question the external validity of existing studies.
    Keywords: O11 ; O23 ; E62 ; ddc:330 ; tax structure ; economic growth ; fiscal policy ; developement
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 6
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    Tax-benefit microsimulation modelling in Mozambique: A feasibility study (2016)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-11-16
    Description: This paper assesses the feasibility of developing a tax and benefit microsimulation model in Mozambique. Mozambique's National Development Strategy 2015-35 commits to providing social security to three-quarters of poor and vulnerable households by 2035. Tax-benefit microsimulation can be used to explore ways in which this goal could be achieved as well as the distributional impact of implementing more comprehensive social security arrangements. The paper presents an account of Mozambique's tax and benefit arrangements as well as a possible underpinning dataset - the Household Budget Survey (Inquérito ao Orçamento Familiar) - for a tax and benefit microsimulation model.
    Keywords: E62 ; H24 ; ddc:330 ; tax ; benefits ; microsimulations ; revenue
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 7
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    On the cost of opportunistic behavior in the public sector: A General-Equilibrium approach (2016)
    Wiley
    Details
    Publication Date: 2017-03-07
    Description: This paper studies the wasteful effect of bureaucracy on the economy by addressing the link between opportunistic behavior of government bureaucrats and the public sector wage bill. In particular, public officials are modeled as individuals competing for a larger share of those public funds. A simple extraction technology in the government administration is introduced in a standard Real-Business-Cycle (RBC) setup augmented with detailed public sector. The model is calibrated to German data for the period 1970-2007. The main findings are: (i) the model performs well vis-a-vis the data; (ii) Due to the existence of a significant public sector wage premium and the high public sector employment, a substantial amount of working time is spent in opportunistic activities, which in turn leads to significant losses in terms of output; (iii) The model-based loss measures obtained for the EU-12 countries are highly-correlated to indices of bureaucratic inefficiency.
    Description: in press
    Keywords: E62 ; J45 ; E69 ; E32 ; ddc:330 ; rent-seeking ; opportunism ; public employment ; government wages
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 8
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    Tax-benefit microsimulation in Ecuador: A feasibility study (2015)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-11-16
    Description: The aim of this study is to evaluate the feasibility to implement a tax and benefit microsimulation model for Ecuador using EUROMOD as an interface. We first present a detailed description of the main components of the tax and benefit system in Ecuador for year 2014. We then describe available micro datasets, which could be potentially used as input data for the microsimulation model. Finally, we provide an assessment and recommendations concerning the possibilities for simulating particular instruments of the tax-benefit system with the data available in the country.
    Keywords: E62 ; H24 ; ddc:330 ; taxes ; benefits ; microsimulation ; income
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 9
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    Tax-benefit microsimulation modelling in Tanzania: A feasibility study (2015)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-11-16
    Description: This paper presents the findings from a feasibility study on the potential for developing a static tax-benefit microsimulation model for Tanzania. The paper provides an account of the current tax-benefit system in Tanzania and introduces the survey dataset which could function as the underpinning data for the model. The paper concludes with an assessment of the feasibility of producing such a model for Tanzania with reference to personal income tax, indirect taxes, and contributory and non-contributory benefits.
    Keywords: E62 ; H24 ; I38 ; ddc:330 ; tax ; benefits ; microsimulation ; Tanzania
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 10
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    Tax-benefit microsimulation: Feasibility study in Ethiopia (2015)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-11-16
    Description: The purpose of this study is to assess the feasibility of building a microsiumlation model of the Ethiopian tax and benefits system. We first provide a detailed describtion of the tax and benefits system of the country. This includes qualifying criteria, tax brakcets, and exemptions. We then describe household survey datasets available in the country and examine the nature of these datasets in terms of representativeness, completeness, and panel data structure. Finally, we provide assessments for whether each tax and benefits system can be microsimulatd given the rules and the nature of the data available.
    Keywords: E62 ; H24 ; ddc:330 ; tax ; benefits ; microsimulations ; revenue
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 11
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    The impact of aid on total government expenditures: New evidence on fungibility (2015)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-11-16
    Description: Aid is said to be fungible at the aggregate level if it raises government expenditures by less than the total amount. This happens when the recipient government decreases domestic revenue, decreases net borrowing, or when aid bypasses the budget. This study makes three contributions to both fungibility and fiscal response literature. First, fungibility at the aggregate level is re-examined on a bigger recent panel dataset, distinguishing between short- and longterm impact of aid. The results indicate that aid is partly fungible in the long run and highly fungible in the short run. Second, to account for aid bypassing the budget, technical cooperation is used as a proxy for off-budget aid. Off-budget aid is found to be non-fungible and on-budget aid is partly fungible. Third, fungibility of bilateral and multilateral aid is analysed: the results indicate lower fungibility of multilateral aid.
    Keywords: E62 ; F35 ; H50 ; O23 ; ddc:330 ; foreign aid ; fungibility ; fiscal response ; government expenditures
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 12
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    Income inequality in Latin America: Recent decline and prospects for its further reduction (2015)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
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    Publication Date: 2018-11-16
    Description: The paper reviews the extent of the income inequality decline that took place in Latin America in 2002-10 and then focuses on the factors that may explain such decline. These include a lowered skill premium following an expansion of secondary education among the poor, and the adoption of more equalizing tax, labour market subsidies and macro policies by a growing number of progressive governments. Finally, the paper reviews the changes in inequality during 2009-12 and discusses whether and how the recent decline can be sustained over the next decade in the context of sluggish world growth.
    Keywords: D31 ; E62 ; I24 ; J8 ; ddc:330 ; income inequality ; Latin American ; global economic conditions ; domestic policy changes ; political regimes
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 13
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    Tax-benefit microsimulation modelling in Zambia: A feasibility study (2015)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-11-16
    Description: This study presents the findings from a feasibility study on the potential for developing a static tax-benefit microsimulation model for Zambia. The paper focuses on the details of the tax-benefit system and possible data sources, building on information collected in the initial scoping study of all countries in the Southern African Development Community and East African Community. The paper concludes with an assessment of the feasibility of producing a tax-benefit microsimulation model and its potential sustainability into the future.
    Keywords: E62 ; H24 ; ddc:330 ; tax ; benefits ; microsimulations ; revenue
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 14
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    Aid and government fiscal behaviour: What does the evidence say? (2012)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
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    Publication Date: 2018-12-14
    Description: Donors are concerned about how their aid is used, especially how it affects fiscal behaviour by recipient governments. This study reviews the recent evidence on the effects of aid on government spending and tax effort in recipient countries, concluding with a discussion of when (general) budget support is a fiscally efficient aid modality. Severe data limitations restrict inferences on the relationship between aid and spending, especially as the government is not aware of all the aid available to finance the provision of public goods. Three generalizations are permitted by the evidence: aid finances government spending; the extent to which aid is fungible is over-stated and even where it is fungible this does not appear to make the aid less effective; and there is no systematic effect of aid on tax effort. Beyond these conclusions the fiscal effects of aid are country-specific.
    Keywords: E62 ; F35 ; ddc:330 ; Aid ; fiscal effects ; fungibility ; government spending ; taxation ; Entwicklungshilfe ; Öffentliche Ausgaben ; Steuereinnahmen ; Entwicklungsländer
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 15
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    Aid and the fiscal and monetary responses to Dutch disease (2011)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
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    Publication Date: 2018-11-16
    Description: This study assesses the fiscal and monetary management challenges that can be associated with large inflows of foreign aid. It provides a brief overview of the literature on Dutch Disease (DD) as applied to mineral wealth and then assesses the conventional policy responses that are available to mitigate the main problems that can be caused by DD. This discussion incorporates an identification of the additional issues and transmission mechanisms that arise when the source of DD is a surge in foreign aid. This analysis is designed to illuminate the circumstances in which an aid-induced DD effect is likely to call for countervailing macroeconomic policy interventions, and when other approaches may be more appropriate. The study concludes with an empirical assessment of the relative importance of mineral-based and aid-based DD problems in low- and middle-income economies. It suggests - contrary to the mainstream literature - that foreign aid and mineral exports typically create joint macroeconomic management problems for such countries.
    Keywords: E62 ; F35 ; O23 ; Q38 ; ddc:330 ; Aid ; Dutch disease ; monetary policy ; fiscal policy ; Rohstoffreichtum ; Entwicklungshilfe ; Geldpolitik ; Finanzpolitik
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 16
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    The formation of a mercantilist state and the economic growth of the United Kingdom 1453 - 1815 (2006)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
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    Publication Date: 2018-11-16
    Description: New institutional economics lacks a theory of state formation which could help us to deal with the mega question of why some states became more efficient than others at establishing and and sustaining institutions. Some kind of middle range theory could be formulated based upon historical case studies. This paper considers the case of Britain and as its title suggests degrades the myth of the United Kingdom as the paradigmn example of liberalism and laisser faire. In making its precocious transition to and industrial market economy the kingom’s history is best represented as a case of successful mercantilism. – military ; sovereignty ; mercantilism ; political economy ; taxation
    Keywords: E62 ; P16 ; F59 ; ddc:330 ; Merkantilismus ; Großbritannien
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 17
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    The political economy of taxation and tax reform in developing countries (2006)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
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    Publication Date: 2018-11-16
    Description: Taxation provides one of the principal lenses in measuring state capacity, state formation and power relations in a society. This paper critically examines three main approaches (economic, administrative and political economy) to understanding taxation. It also examines differences in tax composition across middle-income developing regions and finds that Latin American economies tax upper income groups much less than in East Asia and Eastern Europe, and explores the political economy and policy implications of these differences. The paper also examines issues of tax reform in low income/post-war economies and explores the problem that capital flight poses for less developed countries. – taxation ; tax reform ; political economy ; state capacity ; developing countries
    Keywords: E62 ; H20 ; H24 ; O20 ; ddc:330 ; Steuer ; Steuerreform ; Entwicklungsländer
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 18
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    Tax policy reforms in Nigeria (2006)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
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    Publication Date: 2018-11-16
    Description: Nigeria is governed by a federal system, hence its fiscal operations also adhere to the same principle, a fact which has serious implications on how the tax system is managed. The country’s tax system is lopsided, and dominated by oil revenue. It is also characterized by unnecessarily complex, distortionary and largely inequitable taxation laws that have limited application in the informal sector that dominates the economy. The primary objective of this paper is to prepare a case study on tax policy reforms in Nigeria, with the specific objectives of examining the main tax reforms in the country; highlighting tax revenue profile and composition; analysing possible distributional impacts on the poor; discussing major problems that could prevent effective tax implementation in the country; and offering suggestions for reforms.
    Keywords: E62 ; H20 ; ddc:330 ; tax reform ; Nigeria ; administration ; Steuerpolitik ; Steuerreform ; Nigeria
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 19
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    Fiscal decentralization and political centralization in China: Implications for growth and inequality (2006)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
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    Publication Date: 2018-11-16
    Description: China’s current fiscal system is largely decentralized while its governance structure is rather centralized with strong top-down mandates and a homogenous governance structure. Due to large differences in initial economic structures and revenue bases, the implicit tax rate and fiscal burdens to support the functioning of local government vary significantly across jurisdictions. Regions initially endowed with a broader nonfarm tax base do not need to rely heavily on preexisting or new firms to finance public goods provision, thereby creating a healthy investment environment for the nonfarm sector to grow. In contrast, regions with agriculture as the major economic activity have little resources left for public investment after paying the expenses of bureaucracy. Consequently, differences in economic structures and fiscal burdens may translate into a widening regional gap.
    Keywords: E62 ; H20 ; O40 ; P20 ; ddc:330 ; Chinese economy ; growth ; fiscal decentralization ; regional inequality ; Finanzföderalismus ; Föderalismus ; Regionales Wachstum ; Regionale Einkommensverteilung ; China
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 20
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    Do structural reforms always succeed? Lessons from Brazil (2004)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
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    Publication Date: 2018-11-16
    Description: In the last twenty years, Brazil has undergone several attempts of improving sustainable growth through stabilization programmes, and more recently, structural reforms in line with the Washington Consensus Agenda. The results, however, have been disappointing, as the per capita output growth has remained below its historic trend, and poverty and inequality remain at high levels. This paper investigates why market-oriented reforms such as trade and capital account liberalization, privatization, deregulation and stabilization failed to boost growth in Brazil. We conclude that structural reforms may contribute to growth if accompanied by microeconomic policies tailor-made to address the country’s needs, and by appropriate macroeconomic, institutional and political environments.
    Keywords: E61 ; E62 ; E63 ; E65 ; F15 ; P11 ; P16 ; ddc:330 ; structural reforms ; policy coordination ; fiscal policy ; stabilization ; trade liberalization ; political economy ; Brazil ; Wirtschaftliche Anpassung ; Brasilien
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 21
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    Convergence club empirics: Some dynamics and explanations of unequal growth across Indian states (2003)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
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    Publication Date: 2018-11-16
    Description: This paper documents the convergence of incomes across Indian states over the period 1965 to 1998. It departs from traditional analyses of convergence by tracking the evolution of the entire income distribution, instead of standard regression and time series analyses. The findings reveal twin-peaks dynamics—the existence of two income convergence clubs, one at 50 per cent, another at 125 per cent of the national average income. Income disparities across states seem to have declined over the 1960s, only to increase over the subsequent three decades. The observed polarization is strongly explained by the disparate distribution of infrastructure, and that of education, and to an extent by a number of macroeconomic indicators; that of capital expenditure and fiscal deficits.
    Keywords: C23 ; E62 ; O53 ; ddc:330 ; convergence clubs ; conditional convergence ; distribution dynamics ; infrastructure ; capital investment ; macroeconomic stability ; panel data ; India ; Regionale Einkommensverteilung ; Entwicklungskonvergenz ; Indien
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 22
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    The revenue and double dividend potential of taxes on international private capital flows and securities transactions (2003)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
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    Publication Date: 2018-11-16
    Description: This paper explores two proposals to tax financial flows in developing economies—the package of policies implemented to various degrees by Chile and Colombia during the 1990s, widely referred to today as the Chilean model—and securities transactions taxes (STTs). I find that each provides a viable mechanism to raise revenue in some developing countries. Both can be introduced unilaterally (with the prospect of multilateral coordination in the future); both are progressive in their incidence, and in the case of the STT, represents an administratively manageable form of revenue collection. I also find that each entails double dividends that manifest in greater domestic and international macroeconomic stability.
    Keywords: H2 ; H5 ; O23 ; E62 ; ddc:330 ; securities transaction taxes ; international private capital flows ; financing for development ; double dividends ; taxation ; financial flows ; Kapitalmobilität ; Börsenumsatzsteuer ; Entwicklungsfinanzierung
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 23
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    Debt relief, demand for education, and poverty (2002)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
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    Publication Date: 2018-11-16
    Description: The objective of this paper is to arrive at a better understanding of the implications of debt relief savings for poverty reduction in HIPC countries by focusing on one important channel of impact—human capital accumulation. Our simulation results suggest that poverty and growth objectives would be mainly enhanced if resources are targeted at the primary and secondary level of education. In addition, targeting education spending to households below the poverty line can potentially have most significant impact on reducing poverty in the economy.
    Keywords: E62 ; H31 ; H53 ; H63 ; I28 ; ddc:330 ; government expenditures ; debt ; poverty ; schooling ; Schuldenerlass ; Bildungsverhalten ; Bildungsinvestition ; Öffentliche Bildungsausgaben ; Armut ; Entwicklungsländer ; HIPC
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    Countercyclical fiscal policy: A review of the literature, empirical evidence and some policy proposals (2002)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-11-16
    Description: For many emerging market economies, over reliance on monetary policy may bring worse macro results, when compared to a more balanced framework of countercyclical fiscal and monetary policy. The use of countercyclical fiscal policy requires as a precondition solvent and sustainable fiscal accounts and the re-engineering of fiscal institutions to increase the timeliness and flexibility of fiscal policy. A higher degree of tax or pension fund and/or unemployment insurance contribution flexibility may help in economies subject to significant external shocks. Automatic indexing rules to terms of trade or country risk spreads for pension contributions and interest payments on public debt may also contribute to the stabilization effort. If fiscal revenues are highly volatile, structural budget rules and commodity stabilization funds may provide the necessary framework to achieve saving (dissaving) during expansions (contractions). – stabilization ; fiscal policy ; capital flows ; taxation
    Keywords: E61 ; E62 ; E63 ; ddc:330 ; Antizyklische Finanzpolitik ; Welt
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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    Hardening a soft budget constraint through upward devolution to a supranational institution: The case of Italian state-owned firms and the European Union (2002)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-11-16
    Description: This paper contributes to the literature on the role of decentralization in hardening the budget constraint of public enterprises. Following Qian and Roland the study adopts a ‘federalist’ approach. However, it interprets federalism as the upward devolution of domestic economic policies to a supranational authority and examines its role in disciplining public enterprises operating in a soft budget regime. The methodology is a case study of the shift in budget regime in Italy in the late 1980s. The study shows that a determinant role in driving this shift was played by European economic policies. The discipline imposed by participation in the EMS, the Single Market Programme and, later, the requirements to enter the EMU pushed the Italian government toward a much tougher approach to its budget deficit. The case study identifies a macroeconomic and a microeconomic channel through which the supranational institution—the European Commission—pressurised both the Italian government and the state-held corporate sector. It analyses the effects of the upward devolution on the hardening of the budget constraint of Italian public enterprises and provides empirical evidence of their restructuring and improved performance. Finally, the study extends the lessons from the case study to other countries and supranational institutions by examining two questions. First, to what other contexts the upward devolution of economic policies may be applied. Second, why supranational pressure might work where domestic reforms prove ineffective.
    Keywords: E62 ; G28 ; L32 ; H32 ; H61 ; O19 ; ddc:330 ; public enterprises ; soft budget constraint ; state aid ; European integration ; Italy ; federalism ; Öffentliches Unternehmen ; Budgetrestriktion ; Europäische Integration ; Italien
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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    The impact of adjustment-related social funds on income distribution and poverty (2001)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
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    Publication Date: 2018-11-16
    Keywords: E62 ; H53 ; I38 ; ddc:330 ; Soziale Sicherung ; Öffentliche Sozialausgaben ; Wirtschaftliche Anpassung ; Armut ; Einkommensverteilung ; Entwicklungsländer
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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    Twin peaks: Convergence empirics of economic growth across Indian States (2001)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
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    Publication Date: 2018-11-16
    Description: This paper documents the convergence of incomes across Indian states over the period 1965 to 1998. It departs from traditional analyses of convergence by tracking the evolution of the entire income distribution, instead of standard regression and time series analyses. The findings reveal twin-peaks dynamics – the existence of two income convergence clubs, one at 50 per cent, another at 125 per cent of the national average income. Income disparities seem to have declined over the sixties, only to increase over the following three decades. The observed polarisation is strongly explained by the disparate distribution of infrastructure and to an extent by a number of macroeconomic indicators; that of, capital expenditure and fiscal deficits.
    Keywords: C23 ; E62 ; O53 ; ddc:330 ; convergence clubs ; conditional convergence ; distribution dynamics ; infrastructure ; capital investment ; macroeconomic stability ; panel data ; India ; Entwicklungskonvergenz ; Regionale Disparität ; Teilstaat ; Indien
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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    Trends in income distribution in the post- World War II period: Evidence and interpretation (2001)
    Helsinki: The United Nations University World Institute for Development Economics Research (UNU-WIDER)
    Details
    Publication Date: 2018-11-16
    Description: Until recently, the literature on income inequality within countries suggested that trends in this area had remained stable over the last few decades, and that there is no relation between changes in inequality on the one side and domestic and external liberalization on the other. Against this background, our study reviews changes in within-country inequality over the last twenty years on the basis of an extensive review of the literature and of an analysis of inequality trends in 73 countries accounting for over four-fifths of world population and GDP. The paper finds that over the last two decades inequality rose in twothirds of these 73 countries. This pattern is not uniform but marks a clear departure from the inequality trends recorded since the end of World War II. The paper also suggests that, with the exception of growing educational dispersion in Latin America, traditional causes of inequality (such as land concentration and urban bias) cannot explain the recent rise in income inequality. The latter appears to be related to a shift towards skill-intensive technologies and, especially, to the drive towards domestic deregulation and external liberalization.
    Keywords: E62 ; H53 ; I38 ; ddc:330 ; policy reform ; Washington Consensus ; inequality ; inequality trends ; liberalization ; Einkommensverteilung ; Welt
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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