Non-standard functions and structures of ministries of finance under economic challenges: A case study of Western governments

2020 ◽  
Vol 26 (11) ◽  
pp. 2448-2471
Author(s):  
S.V. Anureev
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Comparative Analysis ◽  
Great Britain ◽  
Central Banks ◽  
Economic Recovery ◽  
Budget Process

Subject. This article examines the functions and management structures of central financial bodies and related parliamentary and governmental structures in Australia, Canada, Great Britain, Japan, Germany, France and Italy. Objectives. The article aims to identify non-standard functions and structures that go beyond the classical responsibility of finance ministries as a central part of the budget process arising from current economic challenges. Methods. For the study, I used a comparative analysis. Results. The article describes the important new functions of financial authorities and treasuries of Western governments aimed at economic growth and economic recovery. Conclusions. The organizational and management structures and functions of the ministries of finance go far beyond the budget process, overlap with and dominate the functions of central banks and ministries of economic development.

scholarly journals Analysis of The Impact of The Region Expansion on Economic Growth (Case Study: Expansion of North Toraja Regency from Tana Toraja)

Jurnal Office ◽  
2019 ◽  
Vol 5 (1) ◽  
pp. 1
Author(s):  
Samuel Randy Tapparan ◽  
Abdul Wahab
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Data Collection ◽  
T Test ◽  
Regional Government ◽  
The People ◽  
Analysis Technique ◽  
Autonomous Regions ◽  
The Impact

The increasing number of regions proposing themselves to form new autonomous regions since the enactment of Law Number 32 of 2004 concerning "Regional Government", aims to improve economic development and the welfare of the people in each region. The purpose of this study was to analyze the impact of regional expansion on the economic growth of North Toraja Regency. The Technik of data collection in this study uses the documentary Technik, which is in the form of reports from relevant agencies. The analysis technique used is by using the independent sample T-test. The results of the study show that regional expansion has an impact on the economic growth of North Toraja Regency.

scholarly journals Application of Multi-Criteria Decision-Making Model and GM (1,1) Theory for Evaluating Efficiency of FDI on Economic Growth: A Case Study in Developing Countries

2019 ◽  
Vol 11 (8) ◽  
pp. 2389 ◽  
Author(s):  
Wang ◽  
Le
Keyword(s):  
Economic Growth ◽  
Decision Making ◽  
Developing Countries ◽  
Economic Development ◽  
Exchange Rate ◽  
Malmquist Productivity Index ◽  
Productivity Index ◽  
Sustainable Economic Development ◽  
Sustainable Economic Growth

Foreign direct investment (FDI) and corporate social responsibility (CSR) spending are one of the major factors in improving sustainable economic development of a country. Therefore, this study focuses on the multi criteria application of FDI and sustainability factors (CSR spending) in various developing countries to explore its impact and decision making for sustainable economic growth. The study uses a case study methodology whereby FDI, exchange rate, and CSR expenditure data from 20 countries were used to assess the efficiency in sustainable economic growth. Data were collected from the World Bank for 20 Asian and African developing countries during 2012–2017 and analyzed using GM (1,1), mean absolute percentage error (MAPE), Malmquist productivity index (MPI)-data envelopment analysis (DEA), and the slacks-based measure of efficiency (SBM) model. Correlation analysis is used to find the relationship for FDI, CSR, exchange rate, gross domestic product (GDP), and GDP per capita (GDPPC). The results of the Malmquist productivity index and the frontier effect clearly highlight that a few countries have witnessed a great improvement in terms of productivity and technological progression. Therefore, the decision makers must adopt the model of those countries with respect to sustainable development of the nation. This study helps developing nations as well as researchers to benchmark efficient countries and follow their strategies to develop a new one for utilizing FDI and CSR spending in sustainable economic development. The study also helps policy makers in multi criterion application of FDI and CSR for decision making in economic development.

scholarly journals Global Outlook for 2018: Economy, Finance, and Monetary, with a Particular Case Study of Taiwan

2018 ◽  
Vol 10 (3) ◽  
pp. 133 ◽  
Author(s):  
Shyi-Min Lu
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Interest Rates ◽  
Global Economy ◽  
Average Rate ◽  
The United States ◽  
Gdp Growth ◽  
Advanced Economies ◽  
Global Economic Growth

In October 2017, IMF President Christine Lagarde declared that the GDP growth of world’s economies in the first half of 2017 was up to the broadest recovery since 2010. So far, the strength of global economic growth has been enhancing. The interest rates and inflation are still at a low level. The global economy has risen from the bottom in 2016 to reach its peak since 2011. As for the degree of economic development, the emerging markets grew fastest, followed by the developing countries, while the advanced economies grew moderately at an average rate around 2%. Manufacturing PMI in major countries, such as the United States, China, the Eurozone, and even Taiwan, have increased above 50 notably in the recent years, while the non-manufacturing PMI is also above 50. Accordingly, the main purpose of this paper is to forecast the global economy in 2018, which is on the trajectory of booming with a certain degree of uncertainty. A particular case study of Taiwan’s overall economic development is presented as well.

The Importance of Fiscal Consolidation for Sustained Economic Recovery in Japan

2005 ◽  
Vol 4 (2) ◽  
pp. 114-127
Author(s):  
Shigeki Morinobu
Keyword(s):  
United States ◽  
Economic Growth ◽  
Great Risk ◽  
The United States ◽  
Economic Recovery ◽  
Budget Process ◽  
Fiscal Consolidation ◽  
Medium Term ◽  
Planning Framework ◽  
Sustainable Economic Growth

Fiscally, Japan is in critical condition, which means future sustainable economic growth is at great risk. To rectify this situation, the Japanese government must shift its policy toward fiscal consolidation. Japan can learn many lessons from European countries and the United States, which achieved both fiscal consolidation and economic growth in the 1990s. Japan needs better management of the budget process, including the introduction of achievable fiscal targets and a medium-term planning framework for the budget. Such reforms should be implemented as soon as possible.

scholarly journals Comparative Analysis of Health and Economic Growth Nexus: A Case Study of Bangladesh, India and Pakistan

2021 ◽  
Vol 4 (1) ◽  
Author(s):  
Muska Nazir, Dr. Ahmed Farhan Saeed, Dr. Sanam Wagma Khattak
Keyword(s):  
Economic Growth ◽  
Comparative Analysis ◽  
Positive Relationship ◽  
Health Indicators ◽  
Efficient Utilization ◽  
Middle Income ◽  
Middle Income Countries ◽  
Key Factor ◽  
Relationship Of

Health is one of the key factor that determines the growth of an economy. It is the improved health of the labor that can translate into increased output levels, higher level of productivity and efficient utilization of resources. For the study, Pooled OLS regression over the period from 1980-2017 is applied on panel data to find the results of health and economic growth nexus for three lower middle income countries that are Bangladesh, India and Pakistan. For Pakistan, Bangladesh and India, their statistics provides further support to existing literature showing a significant and positive relationship of health with economic growth. Comparing their results, it is found that India’s better health facilities are contributing more towards economic growth as compared to Pakistan and Bangladesh. Therefore, their focus too should be on improvement of health indicators in order to achieve higher economic growth levels.

scholarly journals Sustainable Local Economic Development in Tanzania: Exploring Economic Challenges in Growing the Economy

2021 ◽  
Vol 11 (2) ◽  
Author(s):  
Kaihula P. Bishagazi
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Local Economic Development ◽  
Local Development ◽  
Economic Policies ◽  
Economic Activities ◽  
Top Down ◽  
Growth Center ◽  
The Government

The failure of macro-economic policies to deliver meaningful reductions in poverty and achieve basic needs in Tanzania has provoked a deep questioning of the relevance of economic growth center policies in Local Economic Development (LED). The government and development partners are increasingly shifting from the traditional top down approaches to the all-inclusive bottom up approaches for effective local development. The concept of sustainable Local Economic Development is thus examined in the context of economic activities and challenges using a case study of Shinyanga region in Tanzania. 

scholarly journals Research on Resource Curse Effect of Resource-Dependent Cities: Case Study of Qingyang, Jinchang and Baiyin in China

2018 ◽  
Vol 11 (1) ◽  
pp. 91 ◽  
Author(s):  
Chenyu Lu ◽  
Dai Wang ◽  
Peng Meng ◽  
Jiaqi Yang ◽  
Min Pang ◽  
...  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Resource Curse ◽  
Economic Recession ◽  
Resource Development ◽  
Dutch Disease ◽  
Development Economic ◽  
Small Scale ◽  
Different Types

For a specific small-scale region with abundant resources, its copious resources tend to dictate the basic direction of its development, and may subsequently give rise to an industrial structure centered on the advantageous resources. This can give rise to an economic structure that lacks diversity, causing the economic development in the entire local region to fall into the dilemma of the resource curse. The present study conducts a case study from the perspective of small-scale regions, incorporating various types of resource-dependent cities in China, including Qingyang, Jinchang, and Baiyin, to interpret and analyze the resource curse effect by calculating a resource curse coefficient. Moreover, based on the regression model, the present study further discusses the empirical relations associated with the resource curse phenomenon. The results show that, regardless of whether a resource-dependent city is in the early, intermediate or late stage of its resource development, economic development is always plagued by the resource curse effect to a certain degree. Resource development cannot promote economic development, rather, it inhibits economic growth to some extent, resulting in an array of effects that are unfavorable to economic development, rendering the development unsustainable. For different types of resource-dependent cities, resource curse effect exhibits distinct characteristics. The resource curse effect is strongest for a resource-dependent city during an economic recession, is less severe during a development period, and is weakest during maturation. Resource development not only has a direct adverse impact on economic growth, but also often affects economic growth in multiple ways and on various levels through the Dutch disease effect, the crowding out effect, and the institution weakening effect. Until now, most results show that there is no obvious resource curse effect at the national and provincial level. The verification results of small-scale regions show that the resource curse effect at the city level still exists. In addition, the resource curse effect differs across different types of resource-dependent cities.

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