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The Political Economy of Fiscal Policy [electronic resource] :Public Deficits, Volatility, and Growth / by Jaejoon Woo.

by Woo, Jaejoon [author.]; SpringerLink (Online service).
Material type: materialTypeLabelBookSeries: Lecture Notes in Economics and Mathematical Systems: 570Publisher: Berlin, Heidelberg : Springer Berlin Heidelberg, 2006.Description: X, 169 p. online resource.ISBN: 9783540314172.Subject(s): Economics | Development Economics | Endogenous growth (Economics) | Macroeconomics | Finance | Political science | Economics/Management Science | Public Finance & Economics | Development Economics | Economic Growth | Macroeconomics/Monetary Economics | Political ScienceDDC classification: 336 Online resources: Click here to access online
Contents:
Fiscal Deficit, Fiscal Volatility and Growth: Social Polarization -- Inflation, Composition of Deficit Finance, and Social Polarization -- Social Polarization, Industrialization, and Fiscal Instability -- Economic, Political, and Institutional Determinants of Public Deficits -- Growth, Income Inequality, and Fiscal Volatility: Empirical Evidence.
In: Springer eBooksSummary: One of the most striking macroeconomic developments during the last three decades is the rise and persistence of large fiscal deficits in a number of countries. Despite recent major fiscal reforms around the world, many countries suffer from recurrent large fiscal imbalances that often reflect lack of fiscal discipline. Why do some countries have recurrent fiscal deficit or volatility problems, while others do not? What factors are most important in explaining cross-country variation in fiscal outcomes? How are they related to growth or inflation? This book presents new, rigorous, theoretical and empirical studies on these fiscal issues, and highlights social polarization as an essential organizing principle in a political economy approach. Also, it discusses how institutional constraints may favourably affect fiscal dynamics in the presence of social polarization.
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Fiscal Deficit, Fiscal Volatility and Growth: Social Polarization -- Inflation, Composition of Deficit Finance, and Social Polarization -- Social Polarization, Industrialization, and Fiscal Instability -- Economic, Political, and Institutional Determinants of Public Deficits -- Growth, Income Inequality, and Fiscal Volatility: Empirical Evidence.

One of the most striking macroeconomic developments during the last three decades is the rise and persistence of large fiscal deficits in a number of countries. Despite recent major fiscal reforms around the world, many countries suffer from recurrent large fiscal imbalances that often reflect lack of fiscal discipline. Why do some countries have recurrent fiscal deficit or volatility problems, while others do not? What factors are most important in explaining cross-country variation in fiscal outcomes? How are they related to growth or inflation? This book presents new, rigorous, theoretical and empirical studies on these fiscal issues, and highlights social polarization as an essential organizing principle in a political economy approach. Also, it discusses how institutional constraints may favourably affect fiscal dynamics in the presence of social polarization.

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