scholarly journals How do income inequality and fiscal consolidation impact on banking crises? A post-Keynesian view

2021 ◽  
Vol 13 (1) ◽  
pp. 89-114
Author(s):  
Guillermo Peña
Keyword(s):  
Income Inequality ◽  
Financial Crises ◽  
Probability Model ◽  
Developed Countries ◽  
Banking Crises ◽  
Fiscal Consolidation ◽  
Policy Makers ◽  
The Public ◽  
General Terms ◽  
Policy Measures

This is the first paper in estimating a population-averaged panel logit probability model to test the importance of the interaction between deficit in the public budgeting and income inequality in banking crises, for 36 developed countries from 1961-2011. New empirical evidence is shown on whether rising inequality is linked with financial crises, corroborating theoretical expectations of post-Keynesian authors. Policy measures are provided and tested empirically: whilst in general terms higher levels of income inequality could be associated with financial crises; countries with high levels of income inequality could reduce the likelihood of a crisis better in a context of fiscal consolidation. One reason could be that governments could use this public surplus for reducing income inequality, which helps to reduce defaults and banking crises.  These results could be useful for academics, and policy-makers.

Privatization and Public Regulation

Paradigm ◽  
1998 ◽  
Vol 1 (2) ◽  
pp. 109-120
Author(s):  
Simrit Kaur ◽  
S.P. Jain
Keyword(s):  
Public Sector ◽  
Present Article ◽  
Market Failure ◽  
Developed Countries ◽  
Policy Makers ◽  
The Public ◽  
Public Regulation ◽  
Private And Public ◽  
The Government ◽  
Developing And Developed Countries

In many developing and developed countries, privatization through transfer of ownership from public to the private hands is considered as a cure for most of the problems faced by the public sector enterprises (PSEs.) However, policy makers tend to forget that both the systems – private and public – are imperfect. If market failure necessitates the need for government intervention, then failures associated with the government require more market friendly policies. This implies that at any point of time both systems will coexist i.e. privatization will go hand in hand. The present article attempts to discuss the modalities of privatization options and public regulation adopted by India.

scholarly journals Decentralization as a Strategy for improving Service Delivery in the Botswana Public service Sector

2014 ◽  
Vol 4 (2) ◽  
pp. 40 ◽  
Author(s):  
Theophilus Tebetso Tshukudu
Keyword(s):  
Service Delivery ◽  
Public Service ◽  
Service Sector ◽  
Developed Countries ◽  
Public Service Delivery ◽  
The Public ◽  
Long Period ◽  
General Terms

The Botswana public Service has been faced with service delivery challenges since independence in 1966. Like other developing and under developed countries, the Botswana government has reviewed its service delivery processes and initiatives with a view to better productivity across the public service sector. Many strategies and initiatives were introduced by the Botswana government over a long period of time to mitigate poor service delivery across the public service sector. One of these initiatives were the decentralization of certain functions from central to local government.However, the implementation of this initiative was not without problems. This paper will highlight the decentralization in general terms will be discussed and the focus will be narrowed to how decentralisation has to improved public service delivery in thepublic service sector. The evaluation of the process will be highlighted; recommendations and closing remarks will be made.

scholarly journals Policy Forum: The Case for an Annual Net Wealth Tax

2020 ◽  
Vol 68 (3) ◽  
pp. 835-850
Author(s):  
Andrew Jackson ◽  
Toby Sanger
Keyword(s):  
Wealth Inequality ◽  
Developed Countries ◽  
Property Taxes ◽  
Financial Assets ◽  
Policy Makers ◽  
Equal Distribution ◽  
The Public ◽  
Distribution Of Wealth ◽  
Wealth Tax ◽  
Policy Forum

The public and policy makers are showing a renewed interest in wealth taxes as a possible response to the problem of wealth inequality. This article describes the recent trend of rising wealth inequality, and the factors contributing to it, in developed countries, including Canada. The authors argue that an annual wealth tax could and should counter the trend, and that such a tax is both justifiable on economic grounds and technically feasible. They assert that the taxation of capital income does not adequately address the largely tax-free accumulation of large fortunes, and that an annual wealth tax is preferable to property taxes, which exclude the taxation of financial assets and are levied on gross rather than net wealth. The article responds in detail to major criticisms of an annual tax on wealth, arguing that such a tax is needed to achieve a more equal distribution of wealth while raising additional revenues.

scholarly journals Income Inequality, Redistribution of Income and Trade Openness

2015 ◽  
Vol 54 (4I-II) ◽  
pp. 865-874
Author(s):  
Adeel Ali ◽  
Syed Faizan Iftikhar ◽  
Ambreen Fatima ◽  
Lubna Naz
Keyword(s):  
Income Inequality ◽  
Government Spending ◽  
Trade Openness ◽  
Developed Countries ◽  
Social Spending ◽  
Least Developed Countries ◽  
Policy Makers ◽  
Positive Effects ◽  
The Impact ◽  
Distribution Of Income

Literature on nexus between trade openness and government spending is impressive [Atif, et al. (2012), Rudra (2004), Dani (1997) and McGuire (1999)]. The literature is growing rapidly. Analysts have documented the positive effects of government social spending [see for example Mesa-Lago (1994); Huber (1996); Weyland (1996); McGuire (1999)]. Unfortunately, Pakistan lacks empirical evidences on the impact of government social spending. Although Government of Pakistan has taken number of initiatives to have some form of redistribution policies, however, inequality in Pakistan is higher as compared to other Least Developed Countries that are open to trade. This situation is alarming. This paper therefore tries to identify the nexus between trade openness and social spending for the period 1975–2012. International evidence suggests that government social spending influences poverty and distribution of income. Pakistan‘s low level achievement in terms of reducing inequality, given the likely adverse economic impact of trade openness, point towards the fact that government has to design the policy in such a way that it affects the distribution of income. Thus, exploring the effect of social spending on income inequality is necessary for the concerned policy makers.

The Free Money Index

2020 ◽  
Vol 19 (8) ◽  
pp. 1512-1530
Author(s):  
K.V. Mal'tsev ◽  
D.E. Ershov
Keyword(s):  
Information Technologies ◽  
Wealth Index ◽  
Well Being ◽  
Household Consumption ◽  
Federal State ◽  
The Public ◽  
General Terms ◽  
Physical Volume ◽  
Policy Measures ◽  
The Impact

Subject. The development of modern information technologies determines the emergence of new opportunities for obtaining empirical data on household consumption. This allows the formation of new, alternative indicators characterizing various aspects of the standard of living. The article describes one of these indicators, i.e. the free money index. Objectives. The purpose is to show the possibilities of the free money index in the analysis of living standards of the population. Methods. The empirical basis of the study is the data of the Federal State Statistics Service and Romir Consumer Scan Panel. Results. We calculated the free money index for households in Russia from 2008 to 2019. In general, the index has an upward trend, except 2009 and 2015. It includes cities with different population and takes into account the level of inflation, physical volume of purchases by four selected products, and seasonal fluctuations. Conclusions. The free money index, differing from the purchasing power, the wealth index and other indicators, characterizes the structure and changes in household consumption, and objectively reflects the well-being of the population. The free money index computation is necessary for the current analysis of economic and social policy measures. In more general terms, it can also be used to study the household behavior in micro- and macroeconomic aspects, the public welfare, and the impact of income distribution on economic development.

Planning with a large public sector: Turkey (1963–1967)

1972 ◽  
Vol 3 (3) ◽  
pp. 348-360
Author(s):  
Ibrahim I. Poroy
Keyword(s):  
Economic Growth ◽  
Public Sector ◽  
Policy Implementation ◽  
Developed Countries ◽  
Modern Technology ◽  
Equity Capital ◽  
Economic Activities ◽  
Policy Makers ◽  
The Public ◽  
Short Run

As promotion of economic growth becomes a declared aim of policy-makers in less developed countries (LDC), more and more emphasis is placed on the public sector as an essential instrument of policy implementation. The public sector is considered more capable of inducing higher rates of savings and of channeling them into development-promoting outlets than the economy can do by itself. State Economic Enterprises (SEE) financed wholly or in large part through government budgets become the instruments of such policies. In an environment where the private sector invests mainly along traditional lines and is shy of long gestation periods, the absorption of modern technology depends on an ability to amass and channel large amounts of finance capital into productive ventures with relatively little direct short-run profitability. The absence of organized markets for equity capital so prevalent in LDC also points in the direction of the state's active participation in economic activities.

scholarly journals New Genotype Emergence of DENV are Constrained by the Double Host Selection, Reducing the Probability of Alternative Serotype Emergence

2019 ◽  
Author(s):  
Gilberto Sánchez-González ◽  
Renaud Conde
Keyword(s):  
Dengue Virus ◽  
Rna Virus ◽  
Mechanistic Explanation ◽  
Developed Countries ◽  
Policy Makers ◽  
The Public ◽  
New Genotype ◽  
Virus Serotype ◽  
Global Spread ◽  
Low Probability

AbstractSince their discovery and sequencing 40 years ago, the DENV genotypes have shown an extreme coherence regarding the serotype class they code for. Considering the RNA virus mutation rate, we used Timed Markov Model to explore the transmission possibilities of mutated viruses and the statistical eventualities of new serotype emergence. We find that around 1 000 years are required for a new serotype to emerge, in line with phylogenetic analysis of the Dengue serotypes. Our work provides a mechanistic explanation of the strictness and low probability of a new Dengue virus serotype occurrence.Author summaryRecent Dengue virus global spread has drawn the attention of the Public Health Policy makers in developing countries and developed countries as well. The infection gravity and the hemorrhagic dengue syndromes have been related with the absence or presence of previous DENV immunity. Therefore, the emergence of a new DENV serotype and its spread constitute a matter of concern. Here, we constructed a mathematical model to determine the probability of such event, as well as de-entangle the mechanistic reasons behind the low serotype emergence factor of the DENV.

scholarly journals Why income gaps matter: The Treasury and the tricky issue of inequality

2014 ◽  
Vol 10 (1) ◽  
Author(s):  
Max Rashbrooke
Keyword(s):  
Income Distribution ◽  
Developed Countries ◽  
Policy Makers ◽  
The Public ◽  
Income Gap ◽  
Per Se ◽  
What Matters

The income gap between rich and poor, which is now much larger in most developed countries than it was 30 years ago, has become one of the more pressing problems facing both the public and policy makers. One approach to this problem of (in)equality is to argue that the income gaps themselves are concerning, and should be narrowed. If we think of the income distribution as a ladder, this is the equivalent of saying that the rungs on the ladder are too far apart. A second approach, however, is to say that income gaps per se are not of concern; what matters is whether people can move freely between those different incomes – whether they can jump, as it were, from one rung to another. There are still other approaches, of course, but the contrast between these two is very revealing and merits closer scrutiny. 

The Impact of the Public Expenditure Cuts Policy on the Labor Market in Vietnam

2012 ◽  
pp. 22-46
Author(s):  
Huong Nguyen Thi Lan ◽  
Toan Pham Ngoc
Keyword(s):  
Labor Market ◽  
Computable General Equilibrium ◽  
Impact Evaluation ◽  
Public Expenditure ◽  
Computable General Equilibrium Model ◽  
Living Standard ◽  
Input Output ◽  
Policy Makers ◽  
The Public ◽  
The Impact

The purpose of this study is to evaluate the impact of public expenditure cuts on employment and income to support policies for the development of the labor mar- ket. Impact evaluation is of interest for policy makers as well as researchers. This paper presents a method – that is based on a Computable General Equilibrium model – to analyse the impact of the public expenditure cuts policy on employment and income in industries and occupations in Vietnam using macro data, the Input output table, 2006, 2008 and the 2010 Vietnam Household Living Standard Survey.

OBJECTIVES AND FUNCTIONS OF LOBISTRY ACTIVITY IN UKRAINE: REALITIES TODAY AND EVOLUTIONARY FORECAST

2018 ◽  
Vol 1 (12) ◽  
pp. 329-339
Author(s):  
Tikhon Sergeyevich Yarovoy
Keyword(s):  
Civil Society ◽  
Political System ◽  
Developed Countries ◽  
Public Interests ◽  
The Public ◽  
Political Events ◽  
The Developed Countries ◽  
Definition Of ◽  
Industrial Groups

The article is devoted to the research of goals and functions of lobbying activity. The author has processed the ideas of domestic and foreign scientists, proposed his own approaches to the definition of goals and functions of lobbying activities through the prism of public administration. As a result, a generalized vision of the goals and functions of lobbying activities as interrelated elements of the lobbying system was proposed, and a forecast for further evolution of the goals and functions of domestic lobbying was provided. The analysis of lobbying functions allowed us to notice the tendencies in shifting the goals of this activity. If the objectives were fully covered by functions such as mediation between citizens and the state, the information function and the function of organizing plurality of public interests, then the role of strengthening the self-organization of civil society and the function of compromise become increasingly important in the process of formation in the developed countries of civil society and the development of telecommunication technologies. Ukrainian lobbyism will not be left to the side of this process. Already, politicians of the highest level, leaders of financial and industrial groups have to act, adjust their goals (even if they are — declared), taking into account the reaction of the public. In the future, this trend will only increase. The analysis of current research and political events provides all grounds for believing that, while proper regulatory legislation is being formed in Ukraine, the goals and functions of domestic lobbying will essentially shift towards a compromise with the public. It is noted that in spite of the existence of a basic direction of action, lobbying may have several ramified goals. Guided by the goals set, lobbyism can manifest itself in various spheres of the political system of society, combining the closely intertwined interests of various actors in the lobbying process, or even — contrasting them.

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