The Role Of The Financial Control In Regulating The Government Spending In Kuwait

2021 ◽  
pp. 339
Author(s):  
سطام علي مطر المطيري
Keyword(s):  
Government Spending ◽  
Financial Control ◽  
The Government

How Effective Is Resource Stabilization Fund in a Mono-product Economy?

2018 ◽  
Vol 19 (4) ◽  
pp. 842-858 ◽  
Author(s):  
Olusegun Felix Ayadi ◽  
Ladelle M. Hyman ◽  
Johnnie Williams ◽  
Bettye Desselle
Keyword(s):  
Government Spending ◽  
Positive Impact ◽  
Government Expenditure ◽  
Model Framework ◽  
Fiscal Management ◽  
Crude Oil Prices ◽  
Boom And Bust ◽  
Fiscal Balance ◽  
The Government

In managing a mono-product economy, the Nigerian government expenditure patterns follow revenue patterns in cycles of boom and bust in crude oil prices. Thus, fiscal policy becomes procyclical, which is an indicator of poor fiscal management. To arrest this situation, the government established a stabilization fund in 2004. The objective of this article is to provide a better understanding of the role of a stabilization fund in the fiscal management of the Nigerian economy. This is done using an econometric model framework that explains both government spending and fiscal balance as a share of GDP while controlling for a set of economic and demographic variables. The results indicate that the establishment of a stabilization fund has no moderating effect on government spending behaviour. Moreover, the evidence shows that the stabilization fund has a positive impact on fiscal balance during the sample period.

scholarly journals Uncertainty and nonlinear macroeconomic effects of fiscal policy in the US: a SEIVAR-based analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ansgar Belke ◽  
Pascal Goemans
Keyword(s):  
Government Spending ◽  
Large Set ◽  
Impulse Response Functions ◽  
Uncertainty Distribution ◽  
Content Type ◽  
Macroeconomic Uncertainty ◽  
The Us ◽  
Macroeconomic Effects ◽  
The Government

PurposeThe purpose of this paper is to investigate whether the macroeconomic effects of government spending shocks vary with the degree of macroeconomic uncertainty.Design/methodology/approachThe authors use quarterly US data from 1960 to 2017 and employ the Self-Exciting Interacted VAR (SEIVAR) to compute nonlinear generalized impulse response functions (GIRFs) to an orthogonalized government spending shock during tranquil and in uncertain times. The parsimonious design of the SEIVAR enables us to focus on extreme deciles of the uncertainty distribution and to control for the financing side of the government budget, monetary policy, financial frictions and consumer confidence.FindingsFiscal spending has positive output effects in tranquil times, but is contractionary during times of heightened macroeconomic uncertainty. The results indicate an important role of the endogenous response of macroeconomic uncertainty. Investigating different government spending purposes, only increases in research and development expenditures reduce uncertainty and boost output during uncertain times.Originality/valueThe authors contribute to the literature in using a method which allows to control for a large set of confounding factors and accounts for the uncertainty response.

Financial control over the performance of State-financed institutions: The institutional approach

2021 ◽  
Vol 22 (5) ◽  
pp. 592-604
Author(s):  
Galina Yu. STUKALOVA
Keyword(s):  
Systems Approach ◽  
Financial Control ◽  
Financial Flows ◽  
Scientific Methods ◽  
Budgetary Control ◽  
General Scientific ◽  
Governmental Functions ◽  
The Government ◽  
And Control

Subject. The article discusses the role of the controlling function of governance as part of the evaluation of State-financed institutions' performance. Objectives. The study substantiates institutional aspects of the concept Control with reference to State-financed institutions and the specifics of their finance. I also carry out the theoretical examination of the need in controlling their performance. Methods. The study involves general scientific methods. Drawing on the systems approach and logical generalization, I sorted prevailing views on the analyzable categories. The abstraction was applied to summarize the main conclusions. Results. Scholars still interpret financial control differently. Furthermore, regulatory documents, which are adopted by both the legislature and the government, are not consistent with the existing views on financial control. Some interim types of financial control may possibly be something else, which shall be further studied. In my opinion, any activities associated with financial flows shall be qualified as financial. Therefore, the respective control is financial. governmental budgetary control is subdivided into control over budgetary and extrabudgetary finance due the specifics of budgetary institutions' finance. As the performance of State-financed institutions is evaluated in terms of the efficiency of budgetary spending on governmental functions, control should pursue the evaluation of State-financed institutions' performance by source of finance. Conclusions and Relevance. Governmental financial control includes several interim types, including budgetary and extrabudgetary activities. The performance of State-financed institutions shall be monitored by the two aspects so as to evaluate whether budgetary funds are efficiently spent on governmental functions. The findings are designated for unfolding theoretical views on the control over State-financed institutions' performance as a crucial tool for administration. The findings can be used for scientific and practical purposes in accounting and control.

scholarly journals Geographic Differences of Individual Views toward the Role of Government

2020 ◽  
Vol 37 (2) ◽  
pp. 71-96
Author(s):  
Daniel Fudge
Keyword(s):  
Social Security ◽  
Rural Areas ◽  
Government Spending ◽  
Urban Areas ◽  
Public Services ◽  
The United States ◽  
Role Of Government ◽  
Government Involvement ◽  
The Government

Government, through the provision of public services, plays an integral role in the lives of American citizens.  In consequence, public opinion of government involvement has been consistently measured through the use of national surveys in order to better evaluate the public’s reaction to specific public policies.  While measuring of aggregate public opinions on government involvement is valuable, there are certainly differences across various groups of Americans.  The United States may be divided when it comes to partisanship and ideology, but perhaps there are also significant divisions between Americans based on their geography, or “place”.  Using data from the American National Election Survey from 1994-2008, this study examines the differences in opinion on government spending towards public services, welfare programs, and Social Security.  Rooted in the idea that different “places” harbor varying degrees of support for the government, I hypothesize that the role of government is viewed differently between urban and rural America, further demonstrating that America experiences an urban-rural division in regard to perceptions of American politics.  The findings demonstrate that ideology drives Americans’ support for these specific policies and that “place” can serve as a conditioning effect on the standard ideological view.  Specifically, liberals living in rural areas are less supportive of government spending than their liberal counterparts living in more urban areas.  Additionally, rural liberals are less supportive of welfare spending; however, are more supportive of Social Security than liberals from urban areas.

scholarly journals Assessing the Role of Sentiment in the Propagation of Fiscal Stimulus

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Bijie Jia ◽  
Hyeongwoo Kim ◽  
Shuwei Zhang
Keyword(s):  
Fiscal Policy ◽  
Government Spending ◽  
Fiscal Stimulus ◽  
Vector Autoregressive ◽  
Private Activity ◽  
State Dependent ◽  
Private Spending ◽  
The Government ◽  
Post War

Abstract This paper studies the dynamic effects of the fiscal policy shock on private activity using an array of vector autoregressive models for the post-war U.S. data. We are particularly interested in the role of consumer sentiment in the transmission of fiscal stimulus. Our major findings are as follows. Private spending fails to rise persistently in response to government spending shocks, while they exhibit persistent and significant increases when the sentiment shock occurs. Employing not only linear but also nonlinear state-dependent VAR model estimations, we show that the government spending shock generates consumer pessimism in all phases of business cycle resulting in subsequent decreases in private activity, which ultimately weakens the effectiveness of the fiscal policy. Our counterfactual simulation exercises confirm the important role of sentiment in propagating fiscal stimulus to private spending.

FISCAL MULTIPLIERS AT THE ZERO LOWER BOUND: THE ROLE OF GOVERNMENT SPENDING PERSISTENCE

2019 ◽  
pp. 1-28 ◽  
Author(s):  
Phuong V. Ngo
Keyword(s):  
Lower Bound ◽  
Government Spending ◽  
New Keynesian ◽  
Zero Lower Bound ◽  
Role Of Government ◽  
Fiscal Multipliers ◽  
The Great Recession ◽  
Resource Cost ◽  
The Government

In this paper, I examine the role of government spending persistence on fiscal multipliers at the zero lower bound (ZLB) in a more realistic environment while keeping the model simple enough to identify mechanisms driving the result. In particular, I build on a standard dynamic New Keynesian (DNK) model with an occasionally binding ZLB and Rotemberg pricing with rebates, where the probability of hitting the ZLB and the government purchase shock are in line with US data. Moreover, I compute the multiplier in a state that mimics the Great Recession. The main findings of the paper are as follows: (1) the multiplier is non-monotonic in the persistence of government spending while the economy is at the ZLB; (2) given the persistence estimated from US data, the multiplier is 1.25; and (3) in the framework with perfect foresight or with aggregate resource cost for adjusting prices, the multiplier is around 1 or less.

scholarly journals Do Financial Arrangement of the International Monetary Fund Has Impact on the Reduction of Government Spending, Evidence through Political Fiscal Cycles, the Case of Croatia

2018 ◽  
Vol 4 (2) ◽  
pp. 143
Author(s):  
Ivana Rukavina
Keyword(s):  
Fiscal Policy ◽  
Government Spending ◽  
The Other ◽  
Contractual Obligation ◽  
Contractual Arrangements ◽  
The Government ◽  
The International Monetary Fund ◽  
Contractual Agreement ◽  
The Imf

<p><em>This paper examines the regulatory role of the IMF on government spending through political fiscal cycles. According to theoretical views, the fiscal policy in the pre-election period reflects an increase in government spending or budget expenditures; in postelection period, it takes a restrictive course by reducing spending. In the presence of a contractual agreement with the IMF, the theory points to limiting and reducing the magnitude of government spending in the pre-election period. According to the research results in Croatia, there is an increase in government spending in the election quarter, and its decrease in the quarter after the election. On the other hand, the contractual arrangements with the IMF show significant reductions in government spending. When a country is under a contractual obligation with the IMF, it reduced the government spending in the pre-election period in relation to the period when it is not under a contractual obligation.</em></p>

scholarly journals Financing Industrial Development in Korea and Implications For Africa

2019 ◽  
pp. 548-570
Author(s):  
Keun Lee
Keyword(s):  
Industrial Policy ◽  
Industrial Development ◽  
Digital Tv ◽  
Financial Control ◽  
Development Bank ◽  
Capability Building ◽  
The Government ◽  
Role Of The Government

This chapter examines the implications of Korea’s industrial policy and financing for African economies that are trying to build their industrial bases. It considers industrial policy as essentially building the capabilities of private firms to sustain long-term economic growth and looks at the role of the government or industrial policy in this process of capability building. The chapter first provides an overview of the financial systems and industrial policy in Korea, focusing on the nature of financial control by the government and the roles and evolution of key development banks such as the Korea Development Bank. It then discusses three episodes of industrial policy and financing in these cases involving POSCO, targeted development of bottleneck technologies for small and medium-sized enterprises (SMEs), and leapfrogging into digital TV since the mid-1990s. Finally, it assesses the significance of the Korean experience for Africa, especially with regards to export manufacturing and resource-based development.

On retroeconomy

2017 ◽  
pp. 148-159
Author(s):  
V. Papava
Keyword(s):  
Developing Countries ◽  
Detrimental Effect ◽  
International Competition ◽  
The World ◽  
The Government ◽  
Role Of The Government

This paper analyzes the problem of technological backwardness of economy. In many mostly developing countries their economies use obsolete technologies. This can create the illusion that this or that business is prosperous. At the level of international competition, however, it is obvious that these types of firms do not have any chance for success. Retroeconomics as a theory of technological backwardness and its detrimental effect upon a country’s economy is considered in the paper. The role of the government is very important for overcoming the effects of retroeconomy. The phenomenon of retroeconomy is already quite deep-rooted throughout the world and it is essential to consolidate the attention of economists and politicians on this threat.

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