scholarly journals Countercyclical Fiscal Policy: A Review of the Literature, Empirical Evidence and Some Policy Proposals

2003 ◽  
pp. 269-291
Author(s):  
Carlos Budnevich
Author(s):  
Catherine Goetze ◽  
Dejan Guzina

Since the early 1990s, the number of statebuilding projects has multiplied, often ending several years or even decades of violent conflict. The objectives of these missions have been formulated ad hoc, driven by the geopolitical contexts in which the mandates of statebuilding missions were established. However, after initial success in establishing a sense of physical security, the empirical evidence shows that most statebuilding efforts have failed, or achieved only moderate success. In some countries, violence has resumed after the initial end of hostilities. In others, the best results were authoritarian regimes based on fragile stalemates between warring parties. A review of the literature on statebuilding indicates a vast number of theories and approaches that often collide with each other, claim the exact opposite, and mount (contradictory) evidence in support of their mutually exclusive claims. Still they are united by their inquiry into the general structural and policy-making conditions that nurture or impede statebuilding processes. A problematic characteristic of the statebuilding literature is a lack of dialogue across the various disciplines. Many of the claims in the international relations literature on external statebuilding are a mirror image of the previous ones made on democratization. Another problem is the propensity to repeat the same mistakes of the previous generations.


2018 ◽  
Vol 10 (1) ◽  
pp. 115
Author(s):  
Quang Linh Huynh

The existing literature has acknowledged the complicated links among external business environments, corporate governance and organisational performance. However, a large void exists in the extant research models of corporate governance, because none have discussed and empirically examined the intervenient effect of the corporate governance mechanism on the external business environments and organisational performance. A thorough review of the literature on corporate governance, external business environments and organisational performance comes to the proposed hypotheses. The indirect effect of external business environments on organisational performance via corporate governance is statistically tested. The research provides empirical evidence that organisational performance is the consequence of both corporate governance and external business environments that is, in turn, the causality of corporate governance. More importantly, it offers insight into the mediating effect of corporate governance in transforming the uncertainty of external business environments into organisational performance. The findings suggest that firms facing uncertainty in external business environments should adopt suitable corporate governance to achieve the best organisational performance.


2019 ◽  
Vol 30 ◽  
pp. v680
Author(s):  
N. Fanzen ◽  
W. van Harten ◽  
V. Retel ◽  
W. Schats

2016 ◽  
Vol 53 (4) ◽  
pp. 1529-1552 ◽  
Author(s):  
Juan Camilo Galvis Ciro ◽  
Helder Ferreira de Mendonça

1988 ◽  
Vol 16 (3) ◽  
pp. 357-373
Author(s):  
David Bowles ◽  
Holley Ulbrich ◽  
Myles Wallace

Conventional macroeconomic models suggest that expansionary fiscal policy causes higher interest rates, resulting in crowding out of private investment. In this article, we argue that such models ignore the default risk differential between the interest rates on government bonds and corporate bonds. If expansionary fiscal policy causes an expansion in real GNP, default risk falls on corporate bonds. Our model suggests that if the default risk premium falls, (1) corporate interest rates may fall relative to rates on government bonds and (2) private investment is crowded in. We find some supporting empirical evidence of this effect for the period 1929–1945.


2013 ◽  
Vol 6 ◽  
pp. 7-14
Author(s):  
Takis Venetoklis

We examine Finnish university students’ fiscal policy preferences and how they are associated with their voting behaviour in two consecutive parliamentary elections, 2003 and 2007. Data is collected through an internet based survey. The study utilises a very large number of responses (N=33320) of students from all disciplines, in all higher education establishments of the country. Fiscal policy preferences are operationalized with questions on budgetary appropriations allocated towards several Ministries. Pair wise comparisons among loyal student voters of all parties and students that changed their vote in the latter election, indicate that several fiscal policies affect significantly the voting behaviour of the population under scrutiny.


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