Fiscal Policy Outcomes and Electoral Accountability in American States

1998 ◽  
Vol 92 (4) ◽  
pp. 759-774 ◽  
Author(s):  
Robert C. Lowry ◽  
James E. Alt ◽  
Karen E. Ferree
Keyword(s):  
Fiscal Policy ◽  
The State ◽  
Divided Government ◽  
Policy Outcomes ◽  
Legislative Elections ◽  
State Budget ◽  
Electoral Accountability ◽  
Macroeconomic Conditions ◽  
Party Control ◽  
Fiscal Balance

Clear fiscal policy effects appear in American state gubernatorial and legislative elections between 1968 and 1992, independent of the effects of incumbency, coattails, term limits, and macroeconomic conditions. The results show that accountability is generally stronger following a period of unified party control than under divided government. Voter reactions to taxes and spending relative to the state economy are conditional on expectations, which differ for each party. Net of these expectations, Republican gubernatorial candidates lose votes if their party is responsible for unanticipated increases in the size of the state budget; Democrats do not and, indeed, may be rewarded for small increases. Independent of this, the incumbent governor's party is punished in legislative elections for failing to maintain fiscal balance. Taken together, these results show how electoral accountability for fiscal policy outcomes is strong but highly contingent on a complex configuration of party labels, partisan control, expectations, and institutions.

scholarly journals Constitutional Rules on Waqf and Fiscal Policy Outcomes

2021 ◽  
Vol 5 (2) ◽  
pp. 262
Author(s):  
Abdul Ghafar Ismail ◽  
Wahyu Ario Pratomo
Keyword(s):  
Public Finance ◽  
Content Analysis ◽  
Fiscal Policy ◽  
The State ◽  
Policy Outcomes ◽  
Government Revenue ◽  
State Budget ◽  
The Public ◽  
Policy Tool ◽  
The Government

Fiscal policy, inter alia, looks at the list of government revenues. The constitutional rules provide guidance on the list of revenues. However, the previous studies find that waqf is not considered as part of government revenues. In this study, we argue that waqf brings in a new list of government revenues. To prove this point, we select a sample of fifty-seven countries under the Organization of Islamic Countries. The constitution of each country is investigated by using content analysis. The study uses a combination of several keywords, namely “tax or taxes or fiscal obligations,” “revenues or budget or finance” and “waqf” in investigating the rules on revenues and waqf. The findings in this study are classified into five kinds of countries, namely countries that highlight government revenue and waqf in the constitution, countries that claim to recognize sharia law as the basis of the law but the waqf rules in the constitution are missing, countries that mention in their constitution that government revenues are placed under the government system, financial system, and parliament, countries that place waqf is ruled under the public finance matter, and countries that place waqf as the main policy. This finding implies that the constitutional rules lead to the view that waqf is a part of public finance that can be used as a fiscal policy tool and should be included in the state budget plan.

scholarly journals Peran Negara dalam Perekonomian (Tinjauan Teoritis Kebijakan Fiskal dalam Ekonomi Islam)

2017 ◽  
Vol 13 (2) ◽  
pp. 288
Author(s):  
Syaakir Sofyan
Keyword(s):  
Fiscal Policy ◽  
The State ◽  
Public Welfare ◽  
Community Life ◽  
Economic Stability ◽  
State Budget ◽  
Policy Objective ◽  
Form Of Government ◽  
The Government ◽  
Distribution Of Income

Indonesia is a state based on law and adopts welfare. Thus, the state has an obligation and responsibility to realize public welfare as stated in the fourth paragraph of Undang-Undang Dasar (UUD) Negara Republik Indonesia 1945. In achieving these objectives, the government must play an important role in various aspects of community life, especially in the economy. One form of government intervention, namely in fiscal policy by adjusting the state revenues and expenditures in the state budget. In Islamic economics, fiscal policy objective is to create economic stability, high economic growth and equitable distribution of income, coupled with the other objectives contained in the rules of Islam

scholarly journals Transparency of Public and Local Finances: Foreign Experience

2020 ◽  
pp. 18-30
Author(s):  
INNA O. SHKOLNYK ◽  
NATALIIA G. VYHOVSKA ◽  
YULIIA S. HAVRYSH ◽  
ANDRII O. IVANCHENKO
Keyword(s):  
Fiscal Policy ◽  
The State ◽  
Budget Process ◽  
State Budget ◽  
Public Authorities ◽  
Public Finances ◽  
Information Portal ◽  
Foreign Experience ◽  
The Republic ◽  
State And Local

In modern conditions, the role of transparency of both public and local finances is growing significantly, which is a tool to increase the efficiency of financial resources, which confirms the analysis of Ukrainian and foreign studies. In Ukraine, the level of transparency is improving every year and as of 2019 is assessed by international organizations as the minimum allowable. At the same time, the level of transparency of local budgets differs significantly in different regions. To improve the situation and implement best practices in the field of transparency of public finances at both the state and local levels, it is important to analyze the foreign experience of those countries that are leaders in ratings of transparency of public authorities and transparency of the budget process. The paper analyzes the experience of the Office of the Public Accountant of Texas (USA), the Treasury of New Zealand, and the Treasury of the Republic of South Africa, which according to the open budget rating provided by the International Budget Partnership are among the 10 most transparent countries. Analysis of the content of the information portal of the Texas Public Accounts Controller Office showed a separate section “Transparency” with a detailed presentation of information in terms of key blocks of revenues and expenditures, state budget and finances, information on the formation and use of funds in all localities, information on budget deficit as well as information on transparency at the level of individual settlements, school districts, etc. A comparative analysis with the state of transparency of Ukrainian government agencies responsible for the development and implementation of fiscal policy and identifies weaknesses and strengths in terms of their transparency. It is established that the openness of the process of using public finances in Ukraine is gradually increasing, while the positions in the world transparency rating are also improving. However, the conceptual difference between building sites in the countries analyzed is that they report to taxpayers in a form that is accessible to them, rather than simply covering available information without comment or explanation. Keywords: open budget, participation, public finances, rating, fiscal policy.

scholarly journals KEDUDUKAN DANA ALOKASI UMUM(DAU) DALAM HUBUNGAN ANTARA PUSAT DAN DAERAH BERDASARKAN ASAS OTONOMI

FIAT JUSTISIA ◽  
2016 ◽  
Vol 1 (1) ◽  
Author(s):  
Yuswanto Yuswanto
Keyword(s):  
Fiscal Policy ◽  
Fiscal Decentralization ◽  
The State ◽  
State Budget ◽  
Regional Income ◽  
Regional Autonomy ◽  
Local Revenue ◽  
State Revenue ◽  
Legal Standing ◽  
Financial Relationship

As a fiscal policy within the framework of regional autonomy, the allocation of DAU is an act that very important. It was meant to address financing capability gap between regions. The reason is because the DAU is the largest component of balance funds, namely the lack of 26% of the net domestic income in the state budget the amount of DAU scheme is not limiting, because it can only grow with the size of the authority delegated to the regions. DAU legal standing as a regional income in the financial relationship between the center and the regions based on the principle of autonomy is as a subsidy coming from the state revenue in the state budget that is allocated to local revenue in the budget based on fiscal decentralization. Keywords: General Allocation Fund, autonomy, regional autonomy

Group Capture and Political Sclerosis

2018 ◽  
Author(s):  
Mark I. Vail
Keyword(s):  
Labor Market ◽  
Fiscal Policy ◽  
Financial Regulation ◽  
The State ◽  
Economic Order ◽  
Policy Outcomes ◽  
Labor Market Policy ◽  
Market Policy ◽  
Vested Interests ◽  
Zero Sum

This chapter analyzes how Italian clientelist liberalism has shaped policy outcomes in fiscal policy, labor-market policy, and financial regulation since the early 1990s. Unlike France and Germany, where national liberal traditions were successfully synthesized with the postwar political-economic order, in Italy a weakly embedded liberalism became increasingly dominated and undermined by clientelistic imperatives. Like its German counterpart, Italian liberalism has traditionally viewed groups as the fundamental components of the social and economic order. Unlike those in Germany, however, these groups have acted and been seen as acting as impediments to adjustments rather than partners with the state. The result has been a zero-sum conception of political reform, a conflation of notions of the limits of state power with the vested interests of powerful groups, and a deep distrust of the state. In fiscal policy, labor-market policy, and financial regulation, these political dysfunctions have frustrated reforms and undermined effective adjustment.

IMPERATIVES AND RISKS OF THE STATE BORROWINGS’ ACCUMULATION

2018 ◽  
Vol 2018 (6) ◽  
pp. 26-43
Author(s):  
Vasyl KUDRYASHOV ◽  
Keyword(s):  
Fiscal Policy ◽  
Public Debt ◽  
Budget Deficit ◽  
Peak Load ◽  
Banking System ◽  
The State ◽  
State Budget ◽  
State Sector ◽  
Budget Support ◽  
Analysis Of Dynamics

Analysis of dynamics of indicators of the state and the state-guaranteed debt in Ukraine in recent years is carried out and imperatives of the growth of public debt are determined. It is found out that its primary factors were the expansion of financing of the state budget for budget support of the state sector of economy, banking system, as well as the financing of the budget deficit. It is concluded that the solving of such tasks was carried out under conditions of aggravation of financial risks, namely: revenue mobilization, attraction of an additional resource for the purpose of financing the budget deficit and deficit-debt adjustment, under-fulfilment of privatization plans, admission of high inflation, as well as depreciation of the national currency. It is noted that the growth of public debt was due to an increase in the state borrowings, which were used to repay obligations, cover the costs of conducting the active operations and shift part of the borrowings of corporations and institutions to the state budget. The conduct of active operations was aimed at providing the financial support to the state banks and state institutions, DGF and capitalization of some private banks. Changes in the volume of the state borrowings are disclosed in terms of the ratio of their internal and external components. The reasons and consequences of growth of costs of deficit-debt adjustment (active operations within the framework of the state budget) are determined. Under conditions of non-fulfillment of revenue plans from privatization of the state property, such a policy will lead to aggravation of fiscal risks (retention of high indicators of the state borrowings and debt financing at the expense of the NBU and the state banks). The policy of state borrowings (in terms of internal and external components) turned out to be inconsistent: sharp changes were allowed in attracting the resource from internal and external sources, and the implementation of debt policy was marked by significant peak load on the state budget as well as their high profitability both in domestic and foreign markets. The volume of loan servicing continued to grow, which became a factor of increasing budget expenditures. Financing of borrowings using the resources of the NBU and the state-owned banks were reaching high rates. The author proposes the directions of fiscal policy aimed at restraining and restricting the state and the state-guaranteed debt by introducing changes to fiscal policy in Ukraine.

scholarly journals Current state of indirect taxation in Ukraine

2019 ◽  
pp. 157-164
Author(s):  
Оlena Sotnichenko
Keyword(s):  
Fiscal Policy ◽  
Significant Contribution ◽  
Legal Regulation ◽  
The State ◽  
Indirect Taxation ◽  
State Budget ◽  
The Real ◽  
Current State ◽  
Indirect Taxes ◽  
Real State

Relevance of the study. The issue of regulation of the country's economy caused by the simultaneous opening of the borders of Ukraine, liberalization of prices and the lack of a full-fledged system of regulation of commodity flows. It is this aspect, in our opinion, should be decisive when considering the modern indirect taxation as a tool for regulating the economy of Ukraine. Problem statement. The current economic situation in the country necessitates the filling of the budget, which can be done through taxation. It is indirect taxes that entirely burden the shoulders of buyers, because companies include these taxes in the cost of their products. Therefore, it is important to assess the current state of indirect taxation in order to develop an effective fiscal policy. Analysis of recent research and publications. After analyzing scientific works on the problems of research, we can conclude that scientists have made a significant contribution to its solution. In particular, we defined the content of the concept of "indirect taxes" and proposed models for the definition of this concept. A significant contribution to the study of the tax system and indirect taxes in particular have made O. V. Podolska, V. L. Andruschenko, A. I. Krisowaty, Y. B. Ivanov, O. M. Disatnuyk, L. S. Zakharov, O. V. Oserchuk and others. Highlighting the unexplored part of the overall problem. At the present stage of development of the economy of Ukraine, aspects of indirect taxation are not sufficiently developed, their calculation is contradictory, there are many disagreements among scientists in understanding the essence of indirect taxes. There are no clear directions and programs for the development of indirect taxation in order to ensure a perfect fiscal policy of the state. Method of research. In the process of research such General and specific scientific methods of research were applied: system approach, methods of logical generalization and comparison, scientific abstraction, methods of synthesis, logical generalization and analogies. The methodological base of the research consists of scientific works of domestic and foreign scientists and leading experts, analytical materials on the research problem. Purpose of research. Consider the concept of "indirect taxes". Reveal the real state of the problem. To point out ways to improve the situation in order to ensure maximum efficiency of the state's fiscal policy. Show how indirect taxes affect the prices and costs of buyers. Give the classification of indirect taxes. Disclose the positive and negative aspects of indirect taxation. Presentation of the main material of the study. Indirect taxes, in fact, perform and ensure the formation of state budget revenues. When harmonizing the tax legislation of Ukraine with the EU legislation on indirect taxation, it is certainly important to take into account the peculiarities of Ukrainian legal customs in comparison with the Western tradition of law, although unlike other branches of law, the tax law of various legal systems is close to the method of legal regulation. The fiscal role of indirect taxes and incentives at the macro level (introduction of benefits) needs constant regulation and control by the state. Summary. The study reveals the real state of this problem, indicated on the way to improve the situation in order to ensure effective fiscal policy of the state and filling the state budget of Ukraine.

Expenditure Inflexibility in the State Budget: The Fiscal Policy Latitude of the Council of State in Finland

2000 ◽  
Vol 78 (1) ◽  
pp. 193-207 ◽  
Author(s):  
Pentti Meklin ◽  
Juha Liinavuori ◽  
Jukka Nummikoski
Keyword(s):  
Fiscal Policy ◽  
The State ◽  
State Budget ◽  
Council Of State
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