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The resumption of economic growth in Latin America is predicated on the successful restoration of fiscal discipline and stabilization. In restoring fiscal discipline, the mix of policy instruments should aim at maximizing efficiency in the use of domestic and foreign resources.Poverty...
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The paper surveys the role of financial markets and fiscal institutions in the transformation process going on in Eastern and Central Europe. It highlights (a) the need to create some sort of quot;social ecological balancequot; necessary for the working of a modern market economy; (b) the need...
Persistent link: https://www.econbiz.de/10012781350
As the countries of Eastern and Central Europe transform their economies from centrally-planned to market-oriented, the question of the role that the governments should play in mobilizing savings to ensure a high growth rate must be addressed. This paper argues that the issue of a good...
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The implication of increasing dependency ratios for pay-as-you-go, defined-benefit pension programs are examined. Modifications aimed at smoothing contributions while maintaining benefits intact are analyzed for both open and closed economies
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This paper analyzes anew the relationship between taxation and the household saving rate. On the basis of standard savings and tax revenue data from OECD countries, it provides compelling and robust empirical evidence of a powerful impact of taxes on household savings. In particular, income...
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This paper analyzes fiscal reforms in transition economies during the decade leading up to 1998. The paper argues that macroeconomic stabilization, price liberalization and privatization--he core reforms visualized by the shock therapy approach--are necessary but not sufficient conditions for a...
Persistent link: https://www.econbiz.de/10012782757