Fiscal Policy and Management in East AsiaTakatoshi Ito, Andrew K. Rose Managing fiscal policy—the revenues and spending of an individual nation—is among the most challenging tasks facing governments. Wealthy countries are constrained by complex regulation and taxation policies, while developing nations often face high inflation and trade taxes. In this volume, esteemed economists Takatoshi Ito and Andrew K. Rose, along with other leading experts, examine the problems and challenges facing public finance in East Asian developing countries as well as the United States and Japan. Fiscal Policy and Management in East Asia explores the inefficient tax systems of many developing countries, the relationship between public and private sector economic behavior, and the pressing issue of future obligations that governments have undertaken to provide pensions and health care for their citizens. Featuring both overviews and analyses of the countries discussed, this book will be of value to economists and policymakers seeking to understand fiscal policy in a global context. |
Contents
| 1 | |
| 7 | |
II The Impact of Government Policy on Private Behavior | 43 |
III International LongRun Sustainability Issues | 131 |
Country Issues | 223 |
Contributors | 447 |
| 451 | |
| 455 | |
Common terms and phrases
accounts assume average balance sheet Bank benefits budget constraint burden China Cholesky decomposition cointegration contingent liabilities costs crisis default deficit detrended developing countries domestic economic equation ernment estimated European Union external debt fiscal authority fiscal multipliers fiscal policy forecasts framework funds future Gordon-Li government bonds government consumption government debt government expenditure government spending government’s growth rate guarantees household Impulse responses income increase Indonesia industries inflation infrastructure interest rate investment Japan Japanese Korea Kotlikoff labor force labor supply line ministries loans long-term loss function ment MHLW monetary National OECD optimal output paper payments payroll tax percent of GDP period Philippines population prefunding private consumption programs projection public pension ratio reduce reform regions reported risk sample saving rate shocks social insurance social security structure Table tax revenue tion unemployment United variables Variance-covariance matrix welfare World Bank