scholarly journals Fiscal Policy Reforms in Kosovo

2017 ◽  
Vol 8 (3) ◽  
pp. 985-990
Author(s):  
Bedri Statovci ◽  
Shefket Jakupi
Keyword(s):  
Economic Policy ◽  
Fiscal Policy ◽  
Political Stability ◽  
Transition Process ◽  
Progress Report ◽  
Standard Of Living ◽  
Economic Policies ◽  
Policy Reforms ◽  
Continuous Growth ◽  
National Governments

Fiscal policy represents one of the most important components of economic policy and as such it should be treated in its context.For this there are at least two reasons:First, economic policy defines the goals and criteria of fiscal policy in order to assess its contribution to the implementation of economic policies, andSecond, defining the connection between the objectives and instruments, theory of economic policy explains the process of fulfilling the objectives of economic policy, part of which process is fiscal policy itself. Therefore, in the following, in a quite direct manner, we will address the interdependence between economic policy and fiscal policy.The word policy, in everyday life is used to clarify the principles on which various activities run, in order to realize the goals set by the designated authorities by determining the holders of those activities, their size as well as means by which those goals should be realized.In order to achieve prosperity and political stability, national governments aim at achieving economic equilibrium. Kosovo is one of the last countries in Europe to transition to a market economy. The transition process has begun from a very difficult starting point.During the years after the war, a symbolic economic growth occurred, which has been attributed mainly to remittances, investments in infrastructure and privatization. Investments, despite continuous growth, are considered insufficient to boost domestic production.This pattern of growth has not been able to meet the development needs of the state and failed to translate into a better standard of living for citizens, given that neither unemployment nor poverty are reduced. (The Progress Report on Kosovo, European Commission 2011).

Economic Policy

2019 ◽  
pp. 173-195
Author(s):  
William Keech ◽  
William Scarth
Keyword(s):  
United States ◽  
Economic Growth ◽  
Economic Policy ◽  
Fiscal Policy ◽  
Income Distribution ◽  
Political Institutions ◽  
Productivity Growth ◽  
The United States ◽  
Economic Policies ◽  
Sustainable Fiscal Policy

This chapter identifies the differing policies and outcomes that Canadians and Americans have pursued with respect to economic growth, stabilization, and income distribution, and it analyzes several factors that can partially explain why divergent policy choices have emerged. The United States (U.S.) has recorded better productivity growth, while Canada has achieved a more sustainable fiscal policy, a less fragile financial sector, and more generous distributional policies. These contrasting outcomes are related to differences in size and geography, in political culture, and in political institutions. The analysis also considers how much it may be possible for each country’s policymakers to benefit from the other’s experiences. While identifying some lessons in this regard, the authors conclude that the sheer difference in the size of the two economies affects which economic policies can be expected to be effective. As a result, it is concluded that convergence in economic policymaking will remain somewhat limited.

scholarly journals An Analysis of the Effects of the Economic Policy in Serbia by the Mundell-Fleming Model

2015 ◽  
Vol 53 (1) ◽  
pp. 51-62
Author(s):  
Zoran Grubišić ◽  
Sandra Kamenković
Keyword(s):  
Economic Policy ◽  
Fiscal Policy ◽  
Economic Crisis ◽  
Transition Process ◽  
Limiting Factors ◽  
Starting Position ◽  
Global Economic Crisis ◽  
Policy Measures ◽  
Monetary And Fiscal Policy ◽  
Selection Of

AbstractThe global economic crisis has affected the whole world, including Serbia. Countries with different degrees of development reacted with different measures of economic policy, both monetary as well as fiscal. Economic authorities in Serbia have encountered certain limiting factors in the selection of measures, first of all taking into account the unfinished transition process. This paper will examine whether the applied monetary and fiscal policy in Serbia is adequate according to the position which Serbia occupies by the Mundell-Fleming model, as well as to identify the starting position for future economic policy measures.

Investigating the Uncertainty of Government Economic Policies on Inbound Tourism in Iran

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Azam Mohammadzadeh ◽  
Mohammad Nabi Shahiki Tash
Keyword(s):  
Economic Policy ◽  
Exchange Rate ◽  
Price Index ◽  
Consumer Price Index ◽  
Political Stability ◽  
Policy Uncertainty ◽  
Economic Policies ◽  
Economic Policy Uncertainty ◽  
Explanatory Variables ◽  
Inbound Tourism

AbstractOver the past three decades, there has been an increasing focus on the subject of global tourism in Iran’s economy. This article examines the most important economic factors affecting this industry in this country, especially economic policy uncertainty. For this purpose, three models specify the number of tourists entering the country as a dependent variable and Consumer Price Index, Tehran Exchange Price Index, market exchange rate, semi-annual dummy variable, and exports as explanatory variables. To investigate the uncertainty of the government’s economic policies, three variables liquidity fluctuations, tax revenue fluctuations, and government expenditures fluctuations have been added along with the above variables. To obtain the fluctuations, the GARCH function is used then the relations are estimated by the GMM method. The estimation of models using monthly data from March 2011 to August 2018 shows that explanatory variables are significant. The results indicate that economic policy uncertainty has negatively affected the arrival of the tourist. An increase in exchange rate, consumer price index, exports, and stock market price index have a positive effect on the arrival of tourists. Therefore, due to inbound tourism sensitivity to shocks, the growth and survival of tourism depend on economic and political stability.

scholarly journals KEYNES’ INTERVENTIONIST-REFORMIST ECONOMIC POLICIES

2013 ◽  
Vol 71 (281) ◽  
Author(s):  
Fernando Ferrari Filho ◽  
Fábio Henrique Bittes Terra
Keyword(s):  
Economic Policy ◽  
Exchange Rate ◽  
Fiscal Policy ◽  
Macroeconomic Policy ◽  
Economic Policies ◽  
Modus Operandi ◽  
Fourth Section ◽  
The Third ◽  
Monetary Economies

The article aims at presenting the <em>modus operandi </em>of Keynes’ economic policy –especially fiscal policy, which he reveals as the most important. For that purpose, the article is divided into four sections. First, it starts with a brief introduction. Secondly, it presents an analysis of the dynamic of monetary economies. The third section explores the importance of monetary and exchange rate policies in displaying macroeconomic policy, as well as it presents the Keynes fiscal policy as a counter-cyclical instrument. Lastly, the fourth section offers some final remarks.

scholarly journals Le système monétaire européen : Un point de vue nord américain

2005 ◽  
Vol 12 (3) ◽  
pp. 513-532 ◽  
Author(s):  
L. Yves Fortin ◽  
Martin Perron
Keyword(s):  
Economic Policy ◽  
International Monetary System ◽  
European Monetary System ◽  
Policy Coordination ◽  
Economic Policies ◽  
European Monetary ◽  
Monetary System ◽  
Inflation Rates ◽  
National Governments ◽  
The Impact

Is the european monetary System (EMS) a useful approach to the problems it is meant to solve and to the pursuit of the objectives that its promoters have set for themselves? A review by the authors of a number of economic motives which underly the creation of the EMS leads them to conclude that the various economic problems which the european readily blame on floating exchange rates find in fact their origins in the economic policies pursued by the national governments. Moreover, the authors consider that the defense of parities in the EMS, either through intervention in the exchange markets or by other means, can involve high economic costs and that in the longer run market forces always triumph when parities no longer reflect the fundamental positions of the respective economies. Among the other factors which limit the usefulness of the EMS the authors identify the continuing lack of macro-economic policy coordination by participating countries, its regional character, the underestimation of the importance of the american dollar in the international monetary system and the impact of its fluctuations on european currencies and the tendency of the EMS to harmonize inflation rates at a higher level than should be aimed for. The authors therefore conclude that it is doubtful that the EMS constitutes a useful instrument of economic policy and that efforts towards european monetary union based on such a system of parities can be successful under present circumstances.

scholarly journals THE DEVELOPMENT EFFECTS OF THE MONETARY AND FISCAL POLICY IN CONTEMPORARY CONDITIONS

2019 ◽  
pp. 393
Author(s):  
Danijel Milošević ◽  
Vladislav Marjanović
Keyword(s):  
Decision Making ◽  
Economic Theory ◽  
Monetary Policy ◽  
Economic Policy ◽  
Fiscal Policy ◽  
Empirical Data ◽  
The Other ◽  
Standard Of Living ◽  
The Past ◽  
Monetary And Fiscal Policy

One of the biggest problems in economic theory has always been coordination of different elements of economic policy, especially monetary and fiscal policy. In the past, there have been a few theories emphasizing one of them, but in contemporary conditions it is a fact that the only right answer is in coordinated conducting of all of them. Therefore, every measure in monetary policy has to be followed by particular action in fiscal policy and the other way around. The question remains whether fiscal or monetary policy should have the priority in decision making and is there a pattern to follow when it comes to creating economic policy. Empirical data are the most purposeful source for answering these questions, and therefore we will use variables from four different countries from the last fifteen years and try to find the connection between monetary and fiscal policy and the standard of living.

scholarly journals Fiscal Adjustment: Trade-offs of Macro-economic Goals and Recent Policy Reforms in Pakistan

1998 ◽  
Vol 37 (4II) ◽  
pp. 1123-1142 ◽  
Author(s):  
Mushtaq Ahmad
Keyword(s):  
Fiscal Policy ◽  
Economic Policies ◽  
Policy Reforms ◽  
Fiscal Discipline ◽  
User Charges ◽  
Fiscal Adjustment ◽  
Policy Goals ◽  
Trade Offs ◽  
The Government

Fiscal policy, being an embodiment of government measures to raise resources through taxes, tariffs of utilities, user charges and pricing of public sector goods, diverts resources from private sector to the government which rechannels these resource into socially preferred activities. The resource diversion and their rechannelisation helps achieve certain economic goals, and for this reason, the fiscal policy has strong interactive linkages with other macro economic policies. By virtue of this strong bond, the fiscal indicators have a close interactive association with other macro economic indicators. For this reason, the role of fiscal policy is inevitably vulnerable to influences of other economic policies and fiscal discipline and general economic health of the country become interlinked. This linkage results in generating trade offs between different macroeconomic policy goals.

scholarly journals The Role of Taxes in Economic Development of Kosovo

2016 ◽  
Vol 4 (1) ◽  
pp. 79
Author(s):  
Artan Nimani
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Fiscal Policy ◽  
Political Stability ◽  
The Government ◽  
High Level ◽  
National Governments ◽  
Sustainable Economic Growth ◽  
The Impact

To achieve prosperity and political stability, national governments aimed at achieving economic equilibrium. The government uses various instruments to stimulate economic growth, reduce unemployment and to achieve macroeconomic objectives. In the context of slow economic growth in recent years and fiscal pressures, Kosovo faces the complex challenge of economic development. Unemployment remains at a high level. Demand for labor is still very low and create an environment that will favor the formation of stable work places is a challenging task that requires a multidimensional reforms in the economy. This paper addresses the impact of fiscal policy on reducing unemployment, increasing investment and consumption to generate sustainable economic growth.

Economic Policies: From Pace-Setter to Beleaguered Player

2003 ◽  
Author(s):  
Kenneth Dyson
Keyword(s):  
Economic Policy ◽  
Goodness Of Fit ◽  
Federal State ◽  
Unintended Effects ◽  
Economic Policies ◽  
Policy Reforms ◽  
Policy Model ◽  
Traditional Assumption ◽  
Social Market ◽  
State Relations

This chapter traces how rapidly evolving mechanisms of EU governance have affected German economic policy since the Treaty of Maastricht was agreed in 1991. Its central theme is the transition of Germany from ‘pace-setter’ in the constitutive politics of designing EMU to ‘beleaguered player’ in the regulative politics of its implementation, from Germany as policy model to Germany as the main problem. Europeanization has both reinforced traditional policy beliefs in ‘sound’ finance and acted as a catalyst for domestic policy reforms by strengthening the domestic discourse of competitiveness. It has also led to significant pressures for institutional reconfiguration, notably within the federal executive, federal-state relations, and the Bundesbank. The chapter questions the traditional assumption of a goodness of ‘fit’ between German and EU economic policies, in part because of unintended effects from the EMU and in part because, despite emphasis on a consensus about the ‘social market’ economy, Germany lacks a unitary economic policy model.

scholarly journals Analisa Zakat Dan Instrumen Sejenis Terhadap Sistem Fiskal Islam

2018 ◽  
Vol 19 (2) ◽  
pp. 35-60
Author(s):  
Anton Hindardjo
Keyword(s):  
Economic Policy ◽  
Fiscal Policy ◽  
Aggregate Demand ◽  
The State ◽  
Standard Of Living ◽  
Development Programs ◽  
Minimum Level ◽  
Economic Activities ◽  
Good Level ◽  
State Income

The influence of zakat ensures that economic activities can run at a minimum level, namely at the level of meeting primary needs, where zakat, infaq-shadaqah and other similar instruments encourage aggregate demand, because its function is to help the ummah to reach the standard of living above the minimum level. In Islamic Fiscal Policy C = Co + b Yd, Yd = Y - Zakat + Tr (8 asnaf), IS = C + I + G + (X-M). Infak-shadaqah and similar instruments are through bitul mal used to alleviate poverty through development programs. So zakat and infa-shadaqah have their respective roles. In the condition of the good ummah where the level of faith is at a good level, the state income derived from the infaq-shadaqah should be greater than the receipt of zakat. Guarantee in the mechanism of zakat is a top priority in economic policy (when zakat is not able to fulfill the guarantee function, then state revenues from sources other than zakat will be used until the minimum needs of all people are fulfilled).

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