Testing green fiscal policies for green investment, innovation and green productivity amid the COVID-19 era

The sustainable growth path of emerging economies has transformed from the traditional extensive model to high-quality development. Due to the impulse force of low-carbon regulation, the measurement of input–output efficiency changed into green total factor productivity (GTFP) which considers environmental factors. Past research on GTFP focused on enterprise investments to promote green innovation for their resource allocation efficiency, but green investments are often limited from marketization that is interactively influenced by low-carbon regulation. Therefore, handing green investment to mitigate carbon dioxide emissions for green economics recovery is a big challenge. Then these hypotheses are tested by the main study of 170 cities in China. Results suggested that GTFP has an inverted S-shaped curve with three inflection points and four development stages under the influence of low-carbon regulation. It means that improving green productivity is costly toward making green investments without the driving of green innovation. However, the inflection point of the growth curve—when enterprise investment activities ignore the interaction between low-carbon regulation and green investment policy—will come slowly to a period of high-quality development. Moderating results suggested that the green productivity would be weakened and the inflection point would be delayed by the low-carbon marketization index if the low-carbon regulation intensity was neglected. Therefore, this research advanced an effectively co-ordinate growth curve to search for the inflection point of green economics recovery.

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Evaluation of Fiscal Policy Effect of China’s Photovoltaic Industry

Light & Engineering ◽

10.33383/2018-123 ◽

2018 ◽

pp. 111-116 ◽

Cited By ~ 1

Author(s):

Gang AN ◽

Hang WANG

Keyword(s):

Fiscal Policy ◽

Research And Development ◽

Operating Performance ◽

Fiscal Policies ◽

Micro Data ◽

Policy Effect ◽

Policy Suggestions ◽

Asset Size ◽

The Empirical Analysis

To explore the role of fiscal policies in promoting the development of photovoltaic industry, the effects of financial subsidies on the development of China’s photovoltaic industry were analyzed by using the micro data of listed companies. The empirical analysis results in this study indicate that the fiscal policies represented by financial subsidies play a remarkable positive impetus function and financial subsidies are positively correlated with the operating performance of Photovoltaic enterprises. With larger the asset size and higher the Research and Development (R&D) investments, the operating performance of Photovoltaic enterprises is the better. Based on the above results, this study puts forward some policy suggestions on optimizing fiscal policy tools and further promoting the development of photovoltaic industry.

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Rational Expectations and Inflation

10.23943/princeton/9780691158709.001.0001 ◽

2017 ◽

Cited By ~ 51

Author(s):

Thomas J. Sargent

Keyword(s):

World War I ◽

French Revolution ◽

Rational Expectations ◽

Ronald Reagan ◽

Fiscal Policies ◽

Economic Policies ◽

Budget Deficits ◽

Nobel Lecture ◽

Economic Decisions ◽

The French Revolution

This collection of essays uses the lens of rational expectations theory to examine how governments anticipate and plan for inflation, and provides insight into the pioneering research for which the author was awarded the 2011 Nobel Prize in economics. Rational expectations theory is based on the simple premise that people will use all the information available to them in making economic decisions, yet applying the theory to macroeconomics and econometrics is technically demanding. This book engages with practical problems in economics in a less formal, noneconometric way, demonstrating how rational expectations can satisfactorily interpret a range of historical and contemporary events. It focuses on periods of actual or threatened depreciation in the value of a nation's currency. Drawing on historical attempts to counter inflation, from the French Revolution and the aftermath of World War I to the economic policies of Margaret Thatcher and Ronald Reagan, the book finds that there is no purely monetary cure for inflation; rather, monetary and fiscal policies must be coordinated. This fully expanded edition includes the author's 2011 Nobel lecture, “United States Then, Europe Now.” It also features new articles on the macroeconomics of the French Revolution and government budget deficits.

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An Overlapping Generations Model Analysis of Paternalism and Fiscal Policies

Studies in Regional Science ◽

10.2457/srs.43.271 ◽

2013 ◽

Vol 43 (3) ◽

pp. 271-290

Author(s):

Waka KUBO

Keyword(s):

Overlapping Generations ◽

Model Analysis ◽

Fiscal Policies ◽

Overlapping Generations Model

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Commonalities and differences of tax systems in West Balkan countries Comparative analysis

European Journal of Social Sciences Education and Research ◽

10.26417/ejser.v3i1.p155-162 ◽

2015 ◽

Vol 3 (1) ◽

pp. 155 ◽

Cited By ~ 1

Author(s):

Teuta Balliu ◽

Aida Gaçe Llozana

Keyword(s):

Economic Development ◽

Comparative Analysis ◽

Foreign Direct Investments ◽

Fiscal Policies ◽

Fiscal Discipline ◽

Tax System ◽

Revenue Collection ◽

Balkan Countries ◽

The Subject ◽

Tax Systems

Countries of former Yugoslavia and Albania are considered as countries with many common problems as well as changes, which in this context are regarded as insignificant. On their way towards development, these countries are characterized by common problem, among which the most sensitive have been and still remain, unemployment, increasingly compressed public administration, unjustified optimism when planning the budget, mismanagement of public finances and poor fiscal discipline which mostly depends on being or not an election year. In these countries we notice the lack of harmony between economic and fiscal policies and the real needs of the economy. This is seen as other major common ofWest Balkan countries. This similiarity of problems narrows the possibility of competition associated to the foreign investment absorbing capacity. But, which is the moacroeconomic picture in the countries of West Balkan? What are their tax systems? How much are the foreign direct investments? Does the tax system serve as a promoter for these invvestments? This paper represents a comparative analysis of the fiscal systems in the countries of this region. The subject of this paper is the protection with arguments of the economic and fiscal policy which are built for the economic development of a country. This because we are given that there are two types of experiences related to tax system, one of which handles taxes as instruments for revenue collection and the other as a promoter factor for economic development.

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The Impact of Monetary and Fiscal Policies on the Stock Market in the United States (U.S); Evidence from Linear ARDL Framework

11th GLOBAL CONFERENCE ON BUSINESS AND SOCIAL SCIENCES - Global Conference on Business and Social Sciences Proceeding ◽

10.35609/gcbssproceeding.2020.11(132) ◽

2020 ◽

Vol 11 (1) ◽

pp. 132-132

Author(s):

Aref Emamian

Keyword(s):

United States ◽

Stock Market ◽

The United States ◽

Real Effective Exchange Rate ◽

Annual Data ◽

Fiscal Policies ◽

Long Run ◽

The Us ◽

Short Run ◽

The Impact

This study examines the impact of monetary and fiscal policies on the stock market in the United States (US), were used. By employing the method of Autoregressive Distributed Lags (ARDL) developed by Pesaran et al. (2001). Annual data from the Federal Reserve, World Bank, and International Monetary Fund, from 1986 to 2017 pertaining to the American economy, the results show that both policies play a significant role in the stock market. We find a significant positive effect of real Gross Domestic Product and the interest rate on the US stock market in the long run and significant negative relationship effect of Consumer Price Index (CPI) and broad money on the US stock market both in the short run and long run. On the other hand, this study only could support the significant positive impact of tax revenue and significant negative impact of real effective exchange rate on the US stock market in the short run while in the long run are insignificant. Keywords: ARDL, monetary policy, fiscal policy, stock market, United States

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