scholarly journals RUSSIAN FISCAL POLICY AND SUSTAINABLE GROWTH OPPORTUNITIES

Federalism ◽  
2019 ◽  
pp. 5-16
Author(s):  
I. S. Bukina
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Fiscal Policy ◽  
Necessary Conditions ◽  
Sustainable Growth ◽  
Living Standards ◽  
Future Generations ◽  
Tax Burden ◽  
The Public ◽  
Debt Burden

One of the necessary conditions for sustainable development is the public finance stability. The policy of financial consolidation, which has been actively pursued since the 1980s, is designed to balance the budget and the debt burden so as not to expose future generations to the risk of lowering living standards. However, such a policy often becomes an obstacle to economic growth. In accordance with the concept of progressive financial consolidation, a fiscal capacity should be created, which is used to reduce the tax burden and increase budget expenditures that stimulate economic growth. Analysis of the tax burden showed that the policy of financial consolidation conducted in Russia in 2015–2018 did not stimulate the development of the sector oriented to the domestic market. Thus, fiscal policy did not meet the objectives of sustainable development.

scholarly journals Will Curtains Come Down for the Sustainable Theatre – Evaluating Growth Challenges from an Island Nation

2019 ◽  
Vol 8 (5) ◽  
pp. 470
Author(s):  
Seck Tan
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Economic Performance ◽  
Sustainable Growth ◽  
Future Generations ◽  
Economic Progress ◽  
The Difference ◽  
Environmental Capital ◽  
Similar Development ◽  
Brundtland Report

Sustainable development (as defined by The Brundtland Report, 1987) points to development that meets the needs of the present without compromising the ability of future generations to meet their own. However, sustainable development denotes different perspectives to different audience; and for development to be truly sustainable, growth must be inclusive and demands equal attention to the tri-nexus of economy, society and the environment. Unfortunately, this is far from reality. In an effort to continue growing, economies pedestalize economic progress where attention is skewed towards economic performance with an intentional disregard of the environment and to the degradation of the environment. For the purpose of this paper, sustainable development focuses on debates between the twin-nexus of economy and the environment. This paper highlights sustainable development challenges for Singapore (an island nation). While most studies centered on Singapore‟s miraculous growth, few have examined the island‟s use of its environmental capital for economic growth. Island economies face similar development challenges like most global economies; the difference lies in their natural endowments (or the lack of). This underlines the need for policies to advance ecosystem preservation in land-scarce Singapore. With the use of a simple environmental valuation framework, it is demonstrated that the island nation has not fared too badly in protecting its environmental capital.Keywords: Ecosystem, Environmental Capital, Island Nation, Singapore, Sustainable Development

Analysing SST 2.0 Tax Burden through the Element of Principle of Good Tax Policy

2021 ◽  
Vol 12 (1) ◽  
pp. 113-113
Author(s):  
Nur Erma Mohamed Jamel ◽  
Nadiah Abd Hamid ◽  
Sarini Azizan ◽  
Roshayani Arshad ◽  
Rani Diana Othman ◽  
...  
Keyword(s):  
Sustainable Development ◽  
Tax Policy ◽  
Well Being ◽  
Tax Burden ◽  
The Public ◽  
Goods And Services ◽  
Regressive Tax ◽  
Development Goals ◽  
The Relationship ◽  
Economic Well Being

Since the 70s, the focus of the Malaysian government on sustainable development is to improve the economic well-being of its society. In September 2015, Malaysia reaffirmed this commitment with the other United Nations countries by implementing the 2030 Agenda for 17 Sustainable Development Goals (SDGs), focusing on the bottom 40% of households (B40). Unfortunately, the implementation of Goods and Services Tax (GST) on 1st April 2015, followed by Sales and Services Tax (SST) 2.0 on 1st September 2018 impacted all income groups especially B40. The public especially B40 claimed that indirect tax is regressive and burdensome (MIER, 2018). Hence, the present study aims to identify the existence of SST 2.0's tax burden assessing through the relationship between elements of guiding principles of good tax policy. Keywords: Sales and Service Tax, enforcement, regressive, tax burden, fairness.

scholarly journals Imbalance of the public finance in the context of Keynesian and Non-Keynesian effects of fiscal policy limitation

2017 ◽  
Vol 3 (3) ◽  
pp. 27-32
Author(s):  
Joanna Stawska
Keyword(s):  
Public Finance ◽  
Economic Growth ◽  
Fiscal Policy ◽  
Public Debt ◽  
Statistical Data ◽  
Gdp Growth ◽  
The Public ◽  
Methods Of Analysis ◽  
Restrictive Policy

The purpose of this article is to point out the importance of the size of public debt and deficit in the context of Keynesian and non-Keynesian effects of fiscal policy limitation. To achieve this objective primarily were used methods of analysis of the available literature and presentation of statistical data. Considerations include, among others, the presentation of public debt and deficit in the context of economic growth. Expansionary fiscal policy often caused by economic fluctuations contributes to the deepening of public finance imbalance with frequent decline in GDP growth. The restrictive policy has an influence on improving the situation of the public finance sector in the long-term with at least moderate economic growth.

scholarly journals Green GDP and Sustainable Development in Malaysia

2015 ◽  
Vol 10 (1) ◽  
pp. 01-08 ◽  
Author(s):  
Negin Vaghefi ◽  
Chamhuri Siwar ◽  
Sarah Aziz
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Natural Resources ◽  
Sustainable Growth ◽  
Growth Path ◽  
Policy Makers ◽  
Economic Growth And Development ◽  
Green Gdp ◽  
The World

Sustainability has become an important concept in economic growth and development in the world. Malaysia, as a rapidly developing economy in Asia, has been able to achieve a positive economic growth; however, there is a big question: is it on a sustainable growth path? Due to weaknesses of traditional GDP in reflecting sustainability path, Green GDP as an indicator of sustainability could be implemented with adjustments in calculations. This paper aims to calculate the Green GDP for Malaysia. This measure will almost give policy makers a more arguable estimate for the area of environmental challenges. This paper highlights the role of natural resources depletion and environmental damages in sustainable development of the country. Green GDP is associated with some uncertainties such as lack of comprehensive calculations in estimating data and difficulties in setting the price of natural resources. These uncertainties and how Malaysia would be able to implement more accurate Green GDP in future were also discussed.

scholarly journals Analysis of Economic Sustainable Growth Based on Economic Ethics System Model

2018 ◽  
Vol 228 ◽  
pp. 05010
Author(s):  
Yiyan Chen ◽  
Ye Li
Keyword(s):  
Economic Growth ◽  
Economic System ◽  
Necessary Conditions ◽  
Sustainable Growth ◽  
Three Dimensions ◽  
System Model ◽  
Economic Ethics ◽  
The Law ◽  
The Government ◽  
Sustainable Economic Growth

The economic ethics is an abstract variable in economic system, and there is a correlation between the economic ethics and the sustainable economic growth. First of all, the existing researches are discussed from the macro perspective. On this basis, a set of economic ethics system is constructed. Afterwards, from the micro perspective, the necessary conditions for the growth of sustainable economics are obtained through the positive and negative benefit functions of the three dimensions of the government economic ethics, the enterprise economic ethics and the personal economic ethics under the condition of whether to abide by the law and whether to abide by ethics. Finally, the whole economic ethics system is analyzed and the conclusion is obtained that violating the economic ethics will hinder the sustainable growth of economy, while obeying the economic ethics will promote the sustainable growth of economy.

scholarly journals The Theoretical Foundations of Management in Terms of the Implementation of the Process of Globalization and Sustainable Development in the Real Sphere

2020 ◽  
Vol 15 (1) ◽  
pp. 65-69
Author(s):  
Franciszek Piontek ◽  
Keyword(s):  
Quality Of Life ◽  
Economic Growth ◽  
Decision Making ◽  
Sustainable Development ◽  
Technological Progress ◽  
Necessary Conditions ◽  
Sufficient Condition ◽  
Effectiveness And Efficiency ◽  
Theoretical Foundations

The implementation of a process of globalization and sustainable development based on management requires integration. It can be ensured by the rules of universal operation: on the side of the process of globalization, it is necessary to recognize economic growth as a component of development and recognize the primacy of development over growth, verifying the functions of the rules of universal operation, and limiting the paradigms of deregulation (YES = NO= CAN BE); the primacy of federal integration over structural one; the application of management in accordance with the nature of the sphere covered by management and open to the exemplification of the functions and rules of universal operation; on the side of sustainable development: the use of the process of globalization solutions in the field of technological progress, institutional procedures, which contribute to improving the quality, effectiveness and efficiency (quality of life). In addition to necessary conditions, decision-making will be necessary, which is a sufficient condition.

scholarly journals Principles of Sustainable Economic Growth and Development: A Call to Action in a Post-COVID-19 World

2021 ◽  
Vol 13 (23) ◽  
pp. 13126
Author(s):  
Victor I. Espinosa ◽  
Miguel A. Alonso Neira ◽  
Jesús Huerta de Soto
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Growth And Development ◽  
State Intervention ◽  
Sustainable Growth ◽  
Market Process ◽  
Economic Growth And Development ◽  
Genuine Savings ◽  
Coercive State ◽  
Sustainable Economic Growth

The analysis of sustainable economic growth and development often focuses on how to control the market process through coercive state intervention. While state interventionism may play a significant role in countries’ progress, entrepreneurship is the driving force behind sustainable growth and development. Entrepreneurship is the people’s judgment on ideas, plans, and projects, which promises profit in uncertain times. Its effects are the creation and transmission of information and social coordination as a dynamic process of identifying and solving human problems. Sustainable development is the widening range of entrepreneurial alternatives open to people, and sustainable growth is a phase of sustainable development that depends on genuine savings to finance increasingly capital-intensive production structures. The degree to which people are entrepreneurs and the direction genuine savings take depend on institutional arrangements. Some institutions are more conducive to sustainable growth and development than others. After reviewing principles of growth and development sustainability, how coercive state intervention influences economic performance is discussed, proposing novel policy conclusions and research avenues to cultivate entrepreneurship and genuine savings in a post-COVID-19 world.

scholarly journals Fiscal maneuver and restructuring the Russian economy

2017 ◽  
pp. 5-27 ◽  
Author(s):  
A. Kudrin ◽  
I. Sokolov
Keyword(s):  
Public Health ◽  
Economic Growth ◽  
Fiscal Policy ◽  
Public Debt ◽  
Physical Capital ◽  
The Public ◽  
Russian Economy ◽  
General Government ◽  
Fiscal Rule

The paper discusses fiscal policy parameters for the period through 2024. The suggested way to ensure long-term fiscal stability is stabilization of both the general government revenues and expenditure in percent of GDP at levels differing by the public debt service payments, and then applying a new version of the fiscal rule. Redistribution of fiscal spending from “unproductive” to “productive” areas (primarily investment in human and physical capital) is considered as a way to boost economic growth. Possible use of additional spending on education, public health, and transport system is presented, as well as optimization of expenditures in “nonproductive” areas.

scholarly journals Historical Evolution of the Conceptual Practice Sustainability Terminology

2021 ◽  
Vol 9 (1) ◽  
pp. 77-88
Author(s):  
Fátima Terezinha Silva Santos ◽  
Nilzo Ivo Ladwig ◽  
Juliano Bitencourt Campos ◽  
Vilson Menegon Bristot ◽  
Jori Ramos Pereira
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Social Values ◽  
Social Equity ◽  
Environmental Conservation ◽  
Future Generations ◽  
Historical Evolution ◽  
Preventive Action ◽  
Global Environmental ◽  
Conceptual Evolution

The article aims to analyze, in a formal historical approach, the conceptual evolution of sustainability terminology, which initially has an essentially ecological interaction, but begins to incorporate social values in its definition when establishing relation with the welfare of future generations. As a result, international society coined the term "sustainable development," which presupposes a preventive action, with practices of governmental regulations associated with initiatives that involve economic growth, social equity and global environmental conservation.

scholarly journals Evaluation of Public Tender Law Changes in Turkey in Context of Economic Sustainability

2020 ◽  
Vol 8 (05) ◽  
pp. 18-28
Author(s):  
Nihal Arda AKYILDIZ
Keyword(s):  
Sustainable Development ◽  
Private Sector ◽  
Public Procurement ◽  
Future Generations ◽  
Economic Sustainability ◽  
Public System ◽  
The Public ◽  
Goods And Services ◽  
Literature Reviews ◽  
The Subject

In today's economic system, the state has to make some purchases of goods and services to produce and offer the services of the public system formed by local administrations and other administrations. These purchases are the purchases that the public deems necessary through the private sector within the framework of investment programs and budget. Although annual growth and the tranches of spending items in investment programs change every year within the framework of the country's growth, purchases in the public system necessarily occur depending on these rates. Regulations and improvements on this subject; will not only affect the current levels of economic and social welfare, but will also increase the welfare levels of future generations and will support economic sustainability. The issue of public purchases regulated by law, which has become more important especially with its wide coverage in the Eleventh Development Plan, continues to contribute to economic sustainability with its value that directs the country's economy. In the study, literature reviews of public procurements, tender laws and related regulations which have a direct effect on the country's economy were conducted as method; and changes in the public procurements, tender laws and relevant legislation have been aimed to be revealed. Since the first law of 1925, in the four law amendments, some regulations have been made abiding by the main principles and the arrangements required by the country have been made. While the names of the procurement procedures change in the laws are partial, the main contents are preserved. The study examines the four procurement laws that have changed in this way; aiming to provide information on the subject and to address the forecasts that are realized with the support of the country's economy and sustainable development.   Keywords: Tender law, public procurement legislation, economic sustainability, sustainable development, procurement procedures and implementing regulations

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