Defining the welfare state is not a simpleminded task. Actually, there are numerous definitions which try to reflect at least some of the basic characteristics of the welfare state or its objectives and its functions. For some, there is primarily an institutional parameter, for others there are...

The financial collapse of 2007, the accompanying refugee crisis, the health crisis, and the coronavirus pandemic have all played their part in the current gloomy political climate. The left lacks a clear message or strategy to improve the lives of ordinary people. The emphasis on austerity and...

Using a newly-developed data set, we analyze the effects of infrastructure investment on economic performance in Portugal. A vector-autoregressive approach estimates the elasticity and marginal products of twelve types of infrastructure investment on private investment, employment and output. We...

This study investigates the effect of public debt on growth, interest rate, and sustaibility of public debt in a very simple endogenous growth model with financial imperfection and the firm heterogeneity. Increases in public debts cause higher real interest rates through financial markets and...

This paper is an attempt towards exploring the practice of an important yet neglected domain of public finance - Budget Implementation Evaluation (BIE).BIE means evaluating the extent to which Budget Announcements (BAs) are implemented. Its macro level evaluation regardingimplementation of BAs....

This paper employs the smooth transition autoregressive models (STAR) to analyze Tunisian exchange rate pass-through on quarterly data over the period 2011Q4 2019Q4. The non linearity tests suggest that the LSTAR specification describes better the behavior of exchange rate pass-through in...

This paper focuses on the challenges posed by high public debt and demographic decline in Italy. The interplay between these two factors threatens debt sustainability and hinders economic growth. A large debt stock constrains economic policy choices and limits national sovereignty. Meanwhile,...

In achieving the African Union Agenda 2063 – The Africa We Want – and financing SDGs, African economies will require an unprecedented mobilization of resources. This study examines the role of financial development on the nexus between domestic resource mobilization (DRM) and inclusive...

As I am writing this book, Russia is invading Ukraine, and the world’s beliefs in global institutions, peace, humanism, and social progress have been shaken again. Understanding why conflict is endemic to any social relation, under which conditions it is a positive element in social life, and...

As I am writing this book, Russia is invading Ukraine, and the world’s beliefs in global institutions, peace, humanism, and social progress have been shaken again. Understanding why conflict is endemic to any social relation, under which conditions it is a positive element in social life, and...