These 12 essays focus on the importance of fiscal policy in wholesale economic reforms. Topics include the role of budgetary policies in the reform process; the impact of privatization on the budget; the dilemmas that privatization poses for social policy in times of fiscal austerity; the paradox that an efficient and harmonic move to a decontrolled liberal market economy involves active state intervention; and the methodological aspects of the proper assessment of particular fiscal policy mechanisms. Annotation c. by Book News, Inc., Portland, Or.
Following Macroeconomic Dimensions of Public Finance, this is the second volume of essays in honour of Vito Tanzi. It focuses on the importance of fiscal policy on the wholesale economic reforms that are sweeping the advanced, less developed and formally communist countries. Issues analyzed include:
* the role of fiscal and budgetary policies in the process of reform
* the impact of privatization on the exchequer and the dilemmas for social policy in times of fiscal austerity
* the paradox of post-socialism and post-dirigisme that an efficient and harmonic move to a decontrolled, liberal market economy involves active state intervention
* the methodological aspects relating to the proper assessment of fiscal policy mechanisms.
This collection of essays contributes to the understanding of the channels and transmissions mechanisms of fiscal policies in the context of major economic reforms.
List of figures ix(2) List of tables xi(3) List of contributors xiv(1) Preface: Vito Tanzi - The Economist and the Man xv 1 INTRODUCTION AND OVERVIEW: THE ROLE OF FISCAL POLICIES IN PROMOTING ECONOMIC REFORMS 1(8) M. I. Blejer Ter-Minassian Part 1 Fiscal policies, privatization, and structural reforms 9(58) 2 THE BUDGETARY IMPACT OF PRIVATISATION 9(23) David M. Newbery 3 MACROECONOMIC CONSTRAINTS AND THE MODALITIES OF PRIVATIZATION 32(18) Peter Heller Richard Hemming Rupa Chakrabarti 4 A FISCAL APPROACH TO LIBERALIZATION POLICY 50(17) Miguel A. Fernandez-Ordonez Carlos Ocana Part II Fiscal policy and the promotion of sustainable growth 67(26) 5 EMPIRICAL EVIDENCE ON THE IMPACT OF RECENT TAX REFORMS ON SAVINGS, INVESTMENT, AND GROWTH 67(26) Krister Andersson Part III Fiscal policy and the environment 93(20) 6 FISCAL AND MACROECONOMIC ASPECTS OF ENVIRONMENT TAXES 93(20) David C. L. Nellor Part IV Fiscal policies, poverty alleviation, and the social safety net 113(68) 7 POVERTY ALLEVIATION IN A FINANCIAL PROGRAMMING FRAMEWORK: AN INTEGRATED APPROACH 113(21) Sheetal K. Chand Parthasarathi Shome 8 ECONOMIC REFORMS, SOCIAL SAFETY NETS, AND THE BUDGET IN TRANSITION ECONOMIES 134(30) Ke-young Chu Sanjeev Gupta 9 CONSUMER PRICE REFORMS AND THE SAFETY NET IN TRANSITION ECONOMIES 164(17) Ehtisham Ahmad Liam Halligan Part V Fiscal policy reforms and the transition from central planning 181(112) 10 EXCESS WAGES TAX 181(42) Alan A. Tait S. Nuri Erbas 11 THE FISCAL COMPONENT AND THE FIRST RUSSIAN STABILIZATION EFFORT, 1992-3 223(23) Piroska M. Nagy 12 TAXATION AND FOREIGN DIRECT INVESTMENT: THE EXPERIENCE OF THE ECONOMIES IN TRANSITION 246(47) David Holland Jeffrey Owens Part VI List of selected publications by Vito Tanzi 293 SELECTED PUBLICATIONS BY VITO TANZI 293(6) Index 299
Mario I.Blejer is Senior Adviser at the International Monetary Fund (IMF). He holds an economics Ph.D from Chicago and has taught at Hebrew, Boston and New York universities. He has published extensively on monetary and fiscal issues and transition economies. Teresa Ter-Minassian holds degrees in law and economics from Rome and Harvard. She reached the grade of Division Chief at the Bank of Italy before taking a permanent position at the IMF, where she is currently Deputy Director of the Fiscal Affairs Department.
