Markets and governments -- Institutions and governance -- Public goods -- Public finance for public goods -- Market corrections -- Voting -- Social justice -- Entitlements and equality of opportunity -- Choice of taxation -- The need for government.
This book examines how trade policy is determined in democratic countries, and illustrates how protectionist policies are engendered by political processes that allow groups to pursue their own interests.
Private investment is the principal transmission channel through which fiscal policy affects growth in high-income countries. In low-income countries, governance and also other considerations suggest that the primary channel is factor productivity. Empirical results reported in this paper confirm this expectation: in low-income countries, factor productivity is some four times more effective than investment as a channel for increasing growth through fiscal policy. Although the private investment response to fiscal contraction may be minor, high-deficit, low-income countries can nonetheless benefit from a reduction in unsustainable fiscal deficits because of governance-related factor productivity responses that increase growth.
Thank you for visiting our website. Would you like to provide feedback on how we could improve your experience?
This site does not use any third party cookies with one exception — it uses cookies from Google to deliver its services and to analyze traffic.Learn More.