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Government Budgets (government + budget)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting62%
Humanities and Social Sciences25%

Selected Abstracts

An Independent Central Bank and an Independent Monetary Policy: The Role of the Government Budget,The Case of Poland 1924,26

PUBLIC BUDGETING AND FINANCE, Issue 1 2001
Gail E. Makinen
Poland's 1924 stabilization plan created, as measured by contemporary criteria, an independent central bank. The stabilization's success was undermined by a fiscal disequilibrium when a capital levy failed to raise revenue. The Polish government covered the revenue shortfall by exploiting the right of the state to issue subsidiary coins. Although central bank independence was not compromised, Poland did not have an independent monetary policy. When the fiscal disequilibrium was corrected in 1926, the central bank gained complete control over monetary policy. Thus, a balanced budget may be more important to achieving price stability than arrangements to foster central bank independence. [source]

Noah and Joseph Effects in Government Budgets: Analyzing Long-Term Memory

POLICY STUDIES JOURNAL, Issue 3 2007
Bryan D. Jones
This article examines the combined effects of what mathematician Benoit Mandelbrot has termed "Noah" and "Joseph" effects in U.S. national government budgeting. Noah effects, which reference the biblical great flood, are large changes or punctuations, far larger than could be expected given the Gaussian or Normal models that social scientists typically employ. Joseph effects refer to the seven fat and seven lean years that Joseph predicted to the Pharaoh. They are "near cycles" or "runs" in time series that look cyclical, but are not, because they do not occur on a regular, predictable basis. The Joseph effect is long-term memory in time series. Public expenditures in the United States from 1800 to 2004 shows clear Noah and Joseph effects. For the whole budget, these effects are strong prior to World War II (WWII) and weaker afterward. For individual programs, however, both effects are clearly detectable after WWII. Before WWII, budgeting was neither incremental nor well behaved because punctuations were even more severe and memory was not characterized by simple autoregressive properties. The obvious break that occurred after WWII could have signaled a regime shift in how policy was made in America, but even the more stable modern world is far more uncertain than the traditional incremental view. [source]

Twin deficits: squaring theory, evidence and common sense

ECONOMIC POLICY, Issue 48 2006
Giancarlo Corsetti
SUMMARY Budget deficits and current accounts OPENNESS AND FISCAL PERSISTENCE Simple accounting suggests that shocks to the government budget move the current account in the same direction, and this ,twin deficits' intuition leads many observers to call for fiscal consolidation in the US as a necessary measure to reduce the large external imbalance of this country. The response of other macroeconomic variables to budget developments, however, has important implications for ,twin deficits' and for this policy prescription. Focusing on the international transmission of fiscal policy shocks via terms of trade changes, we show that the likelihood and magnitude of twin deficits increases with the degree of openness of an economy, and decreases with the persistence of fiscal shocks. We take this insight to the data and investigate the transmission of fiscal shocks in a vector autoregression (VAR) model estimated for Australia, Canada, the UK and the US. We find that in less open countries the external impact of shocks to either government spending or budget deficits is limited, while private investment responds in line with our theoretical prediction. These results suggest that a fiscal retrenchment in the US may have a limited impact on its current external deficit. , Giancarlo Corsetti and Gernot J. Müller [source]

The economic costs and benefits of UK defence exports

FISCAL STUDIES, Issue 3 2002
Malcolm Chalmers
Abstract This study examines the economic costs and benefits to the UK of a 50 per cent cut in UK defence exports from the average level of 1998 and 1999. The net impact on the government budget is estimated to be an ongoing loss of between around £40 million and £100 million a year: around 0.2,0.4 per cent of the total UK defence budget. In addition, there is estimated to be a one-off net adjustment cost, spread over five years, of between £0.9 billion and £1.4 billion. A further more speculative adjustment cost (estimated at around £1.1 billion) could result if the loss of income associated with the ,terms-of-trade£ effect were also included. In terms of the wider debate about defence exports, the results of this study suggest first that the economic effects of the reduction in defence exports are relatively small and largely one-off, and secondly that the balance of arguments about UK defence exports should be determined mainly by non-economic factors. [source]

Plebiscites, Fiscal Policy and the Poor: Learning from US Experience with Direct Democracy

DEVELOPMENT POLICY REVIEW, Issue 5 2005
Arthur A. Goldsmith
Many countries are contemplating direct political participation as a way of giving marginalised people more say in national fiscal policies. The United States is a natural laboratory for studying how large-scale direct democracy actually works in this regard. Every state allows voters to decide certain ballot questions about how to raise and spend public revenue. The 100-year record shows, however, that state-wide plebiscites fail to produce uniformly equitable or financially sustainable government budgets, or to mobilise low-income groups to defend their economic interests. When called upon to make decisions about state government spending, the electorate is apt to disregard any hardship for poor people. Traditional political parties and advocacy organisations are usually a more promising avenue for promoting anti-poverty budgets. [source]

CHINESE PUBLIC FINANCE FRAMEWORK: A CONTEXTUAL ANALYSIS

FINANCIAL ACCOUNTABILITY & MANAGEMENT, Issue 2 2010
ChunLei Yang
This paper explores the complexities of government financial management in China and examines the nature of the recent Public Finance Framework (PFF) reform in that country. We argue that this reform is not just the latest instalment in a centrally dominated reform agenda (and a logical and strategic development in the process of social, political and economic transformation), but that it reflects the Central Government's struggle to fine-tune central-local financial relationships and to grapple with the consequences of the previously misplaced delegation of government budgets. In so doing, the paper challenges the prescriptive research which often pervades policy studies in China. Instead, it analyses the historical and contemporary contexts which are shaping government administration in China, and sheds new light on the background, implementation and future prospects of Chinese public sector financial reform. Overall, our contextual analysis provides a starting point for more critical research into the changes in government financial administration at both policy and organisational levels in China. [source]

Costs of maternal health care services in three anglophone African countries

INTERNATIONAL JOURNAL OF HEALTH PLANNING AND MANAGEMENT, Issue 1 2003
Ann Levin
Abstract This paper is a synthesis of a case study of provider and consumer costs, along with selected quality indicators, for six maternal health services provided at one public hospital, one mission hospital, one public health centre and one mission centre, in Uganda, Malawi and Ghana. The study examines the costs of providing the services in a selected number of facilities in order to examine the reasons behind cost differences, assess the efficiency of service delivery, and determine whether management improvements might achieve cost savings without hurting quality. This assessment is important to African countries with ambitious goals for improving maternal health but scarce public health resources and limited government budgets. The study also evaluates the costs that consumers pay to use the maternal health services, along with the contribution that revenues from fees for services make to recovering health facility costs. The authors find that costs differ between hospitals and health centres as well as among mission and public facilities in the study sample. The variation is explained by differences in the role of the facility, use and availability of materials and equipment, number and level of personnel delivering services, and utilization levels of services. The report concludes with several policy implications for improvements in efficiency, financing options and consumer costs. Copyright © 2003 John Wiley & Sons, Ltd. [source]

Die Auswirkungen der demographischen Veränderungen auf die Budgetstrukturen der öffentlichen Haushalte

PERSPEKTIVEN DER WIRTSCHAFTSPOLITIK, Issue 2 2007
Helmut Seitz
Special attention is given to differences between East and West Germany. Whereas East German state and local governments can expect significant savings from shrinking population size and from shifts in the age structure, subnational government budgets in the West are only slightly affected. Federal government spending will increase due to the rise in spending on the elderly. The results suggest that significant adjustments of public budgets at the expenditure side are necessary in order to cope with the fiscal challenges of demographic change. [source]