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class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 9296</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: fiscal health</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9296</span> Monitoring the Fiscal Health of Taiwan’s Local Government: Application of the 10-Point Scale of Fiscal Distress</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Yuan-Hong%20Ho">Yuan-Hong Ho</a>, <a href="https://publications.waset.org/abstracts/search?q=Chiung-Ju%20Huang"> Chiung-Ju Huang </a> </p> <p class="card-text"><strong>Abstract:</strong></p> This article presents a monitoring indicators system that predicts whether a local government in Taiwan is heading for fiscal distress and identifies a suitable fiscal policy that would allow the local government to achieve fiscal balance in the long run. This system is relevant to stockholders’ interest, simple for national audit bodies to use, and provides an early warning of fiscal distress that allows preventative action to be taken. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fiscal%20health" title="fiscal health">fiscal health</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20distress" title=" fiscal distress"> fiscal distress</a>, <a href="https://publications.waset.org/abstracts/search?q=monitoring%20signals" title=" monitoring signals"> monitoring signals</a>, <a href="https://publications.waset.org/abstracts/search?q=10-point%20scale" title=" 10-point scale"> 10-point scale</a> </p> <a href="https://publications.waset.org/abstracts/2138/monitoring-the-fiscal-health-of-taiwans-local-government-application-of-the-10-point-scale-of-fiscal-distress" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/2138.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">464</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9295</span> The Effectiveness of National Fiscal Rules in the Asia-Pacific Countries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Chiung-Ju%20Huang">Chiung-Ju Huang</a>, <a href="https://publications.waset.org/abstracts/search?q=Yuan-Hong%20Ho"> Yuan-Hong Ho</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study utilizes the International Monetary Fund (IMF) Fiscal Rules Dataset focusing on four specific fiscal rules such as expenditure rule, revenue rule, budget balance rule, and debt rule and five main characteristics of each fiscal rule those are monitoring, enforcement, coverage, legal basis, and escape clause to construct the Fiscal Rule Index for nine countries in the Asia-Pacific region from 1996 to 2015. After constructing the fiscal rule index for each country, we utilize the Panel Generalized Method of Moments (Panel GMM) by using the constructed fiscal rule index to examine the effectiveness of fiscal rules in reducing procyclicality. Empirical results show that national fiscal rules have a significantly negative impact on procyclicality of government expenditure. Additionally, stricter fiscal rules combined with high government effectiveness are effective in reducing procyclicality of government expenditure. Results of this study indicate that for nine Asia-Pacific countries, policymakers’ use of fiscal rules and government effectiveness to reducing procyclicality of fiscal policy are effective. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=counter-cyclical%20policy" title="counter-cyclical policy">counter-cyclical policy</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20rules" title=" fiscal rules"> fiscal rules</a>, <a href="https://publications.waset.org/abstracts/search?q=government%20efficiency" title=" government efficiency"> government efficiency</a>, <a href="https://publications.waset.org/abstracts/search?q=procyclical%20policy" title=" procyclical policy"> procyclical policy</a> </p> <a href="https://publications.waset.org/abstracts/95982/the-effectiveness-of-national-fiscal-rules-in-the-asia-pacific-countries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/95982.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">289</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9294</span> Fiscal Stability Indicators and Public Debt Trajectory in Croatia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Hrvoje%20Simovic">Hrvoje Simovic</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Paper analyses the key problems of fiscal sustainability in Croatia. To point out key challenges of fiscal sustainability, the public debt sustainability is analyzed using standard indicators of fiscal stability, accompanied with the identification of regime changes approach in the public debt trajectory using switching regression approach. The analysis is conducted for the period from 2001 to 2016. Results show huge vulnerability in recession period (2009-14), so key challenges in current fiscal policy and public debt management are recognized in maturity prolongation, interest rates trends, and credit rating expectations. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fiscal%20sustainability" title="fiscal sustainability">fiscal sustainability</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20debt" title=" public debt"> public debt</a>, <a href="https://publications.waset.org/abstracts/search?q=Croatia" title=" Croatia"> Croatia</a>, <a href="https://publications.waset.org/abstracts/search?q=budget%20deficit" title=" budget deficit"> budget deficit</a> </p> <a href="https://publications.waset.org/abstracts/87621/fiscal-stability-indicators-and-public-debt-trajectory-in-croatia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/87621.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">267</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9293</span> Critical Literature Survey of the Macroeconomic Effects of Fiscal Policy in Light of Recent Empirical Evidence</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Walaa%20W.%20Diab">Walaa W. Diab</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The present paper offers a fundamental critique of the macroeconomic effects of fiscal policy after it surveys the theoretical and empirical literature on the macroeconomic effects of fiscal policy. It emphasizes the importance of the fiscal policy after reviewing the revolution of almost all economic schools and bringing them in one summarized figure; the paper links the developmental role of the fiscal policy with the objectives and measures of the economic transformation. Thus, the importance of this study can be seen from several perspectives: First, it reviews the theoretical harvest of fiscal policy and provides a comparison between the main revolutionary Economic thoughts; the classical school, Keynesian school, and monetarist school. Then it turns to conclude the fiscal policy from the new consensus mainstream economic schools. Finally, the study presents grouped and classified empirical pieces of evidence as it divides those empirical studies into two groups; the first for developed economies and the second for developing ones. So the study is important also for the policymakers as well as scholars as it gives its recommendations upon the last analysis in the form of ‘policy implications’. The paper also presents a deeper look into the evaluation approaches of the macroeconomic effects of fiscal policy at the empirical level. Thus it is useful for both researchers and decision makers. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=economic%20transformation" title="economic transformation">economic transformation</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20policy" title=" fiscal policy"> fiscal policy</a>, <a href="https://publications.waset.org/abstracts/search?q=macroeconomic%20effects" title=" macroeconomic effects"> macroeconomic effects</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20spending" title=" public spending"> public spending</a> </p> <a href="https://publications.waset.org/abstracts/61038/critical-literature-survey-of-the-macroeconomic-effects-of-fiscal-policy-in-light-of-recent-empirical-evidence" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/61038.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">311</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9292</span> Foreign Seeds on Chinese Soil: Public Bonds in Qing China, 1894-1911</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Dan%20Li">Dan Li</a>, <a href="https://publications.waset.org/abstracts/search?q=Hao%20Tang"> Hao Tang</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The idea of “public bonds” was foreign to Qing China because it went against the traditional political ideology that supported that the emperor had absolute ownership over the nation. When a new fiscal crisis emerged out of the First Sino-Japanese War in 1894, the Qing rulers had no better option than to issue domestic bonds. This article documents the processes of issuance, distribution, and reimbursement for a total of three bonds issued by the Qing. These processes reveal how a well-established Western fiscal instrument could be extremely awkward and difficult to implant in China—a culturally, politically, and institutionally different society. Our paper sheds light on why Qing China failed to rise as a modern fiscal state. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=public%20bond" title="public bond">public bond</a>, <a href="https://publications.waset.org/abstracts/search?q=Qing%20China" title=" Qing China"> Qing China</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20crisis" title=" fiscal crisis"> fiscal crisis</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20state" title=" fiscal state"> fiscal state</a>, <a href="https://publications.waset.org/abstracts/search?q=the%20first%20Sino-Japanese%20war" title=" the first Sino-Japanese war"> the first Sino-Japanese war</a> </p> <a href="https://publications.waset.org/abstracts/163553/foreign-seeds-on-chinese-soil-public-bonds-in-qing-china-1894-1911" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/163553.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">169</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9291</span> The Impact of Fiscal Policy on Gross Domestic Product under Contributions of Level of External Debt in Developing Countries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Zohreh%20Bang%20Tavakoli">Zohreh Bang Tavakoli</a>, <a href="https://publications.waset.org/abstracts/search?q=Shuktika%20Chatterjee"> Shuktika Chatterjee</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study investigates the fiscal policy impact on countries’ economic growth in developing countries with a different external debt level. The fiscal policy effectiveness has been re-emphasized in the global financial crisis of 2008 with the external debt as its new contemporary driver (Ruščáková and Semančíková, 2016). According to Bouakez, (2014 ) different theories have proposed the economic consequence of fiscal policy, specifically for developing countries. However, fiscal policy literature is lacking research regarding the fiscal policy’s effectiveness with the external debt’s contributions through comprehensive study (Canh, 2018). Also, according to scholars, high levels of external debt will influence economic growth. First, through foreign resources and channel of investment in which high level of debt decreases the amount of foreign investment in the developing countries. Second, through the deterioration of foreign investors and fiscal policies related to a high level of debt (Cordella, et.al., 2010). Therefore, this study proposed that only countries with a low external debt level and appropriate fiscal policies and good quality institutions can gain the proper quantity and quality of foreign investors, which will help the economic growth. For this, this research is examining the impact of fiscal policy on developing countries' economic growth in the situation of different external debt levels. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fiscal%20policy" title="fiscal policy">fiscal policy</a>, <a href="https://publications.waset.org/abstracts/search?q=external%20debt" title=" external debt"> external debt</a>, <a href="https://publications.waset.org/abstracts/search?q=gross%20domestic%20product" title=" gross domestic product"> gross domestic product</a>, <a href="https://publications.waset.org/abstracts/search?q=developing%20countries" title=" developing countries"> developing countries</a> </p> <a href="https://publications.waset.org/abstracts/139300/the-impact-of-fiscal-policy-on-gross-domestic-product-under-contributions-of-level-of-external-debt-in-developing-countries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/139300.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">166</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9290</span> Tax Competition and Partial Tax Coordination under Fiscal Decentralization</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Patricia%20Sanz-Cordoba">Patricia Sanz-Cordoba</a>, <a href="https://publications.waset.org/abstracts/search?q=Bernd%20Theilen"> Bernd Theilen</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This article analyzes the conditions where decentralization and partial tax harmonization in a coalition of asymmetric jurisdictions plays a role in the fight of fiscal competition (i.e. the race to bottom). Starting from a centralized economies, we use the ZM-W model to analyze the fiscal competition and coordination among three countries. We find that the asymmetry of jurisdictions facilitates partial tax harmonization between jurisdictions when these asymmetries are not too large. Furthermore, when the asymmetries are large enough, the level of labor tax plays an important role in the decision of decentralize capital tax. Accordingly, decentralization is achievable when labor tax is low. This result indicates that decentralization and partial tax harmonization between jurisdictions can be possible results in order to fight the negative externalities from fiscal competition, and more in the European Union countries where the asymmetries are substantial. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=centralization" title="centralization">centralization</a>, <a href="https://publications.waset.org/abstracts/search?q=decentralization" title=" decentralization"> decentralization</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20competition" title=" fiscal competition"> fiscal competition</a>, <a href="https://publications.waset.org/abstracts/search?q=partial%20tax%20harmonization" title=" partial tax harmonization"> partial tax harmonization</a> </p> <a href="https://publications.waset.org/abstracts/75610/tax-competition-and-partial-tax-coordination-under-fiscal-decentralization" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/75610.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">253</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9289</span> The Fiscal-Monetary Policy and Economic Growth in Algeria: VECM Approach</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=K.%20Bokreta">K. Bokreta</a>, <a href="https://publications.waset.org/abstracts/search?q=D.%20Benanaya"> D. Benanaya</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The objective of this study is to examine the relative effectiveness of monetary and fiscal policy in Algeria using the econometric modelling techniques of cointegration and vector error correction modelling to analyse and draw policy inferences. The chosen variables of fiscal policy are government expenditure and net taxes on products, while the effect of monetary policy is presented by the inflation rate and the official exchange rate. From the results, we find that in the long-run, the impact of government expenditures is positive, while the effect of taxes is negative on growth. Additionally, we find that the inflation rate is found to have little effect on GDP per capita but the impact of the exchange rate is insignificant. We conclude that fiscal policy is more powerful then monetary policy in promoting economic growth in Algeria. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title="economic growth">economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=monetary%20policy" title=" monetary policy"> monetary policy</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20policy" title=" fiscal policy"> fiscal policy</a>, <a href="https://publications.waset.org/abstracts/search?q=VECM" title=" VECM"> VECM</a> </p> <a href="https://publications.waset.org/abstracts/52069/the-fiscal-monetary-policy-and-economic-growth-in-algeria-vecm-approach" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/52069.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">319</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9288</span> Dynamic Analysis of Commodity Price Fluctuation and Fiscal Management in Sub-Saharan Africa</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abidemi%20C.%20Adegboye">Abidemi C. Adegboye</a>, <a href="https://publications.waset.org/abstracts/search?q=Nosakhare%20Ikponmwosa"> Nosakhare Ikponmwosa</a>, <a href="https://publications.waset.org/abstracts/search?q=Rogers%20A.%20Akinsokeji"> Rogers A. Akinsokeji </a> </p> <p class="card-text"><strong>Abstract:</strong></p> For many resource-rich developing countries, fiscal policy has become a key tool used for short-run fiscal management since it is considered as playing a critical role in injecting part of resource rents into the economies. However, given its instability, reliance on revenue from commodity exports renders fiscal management, budgetary planning and the efficient use of public resources difficult. In this study, the linkage between commodity prices and fiscal operations among a sample of commodity-exporting countries in sub-Saharan Africa (SSA) is investigated. The main question is whether commodity price fluctuations affects the effectiveness of fiscal policy as a macroeconomic stabilization tool in these countries. Fiscal management effectiveness is considered as the ability of fiscal policy to react countercyclically to output gaps in the economy. Fiscal policy is measured as the ratio of fiscal deficit to GDP and the ratio of government spending to GDP, output gap is measured as a Hodrick-Prescott filter of output growth for each country, while commodity prices are associated with each country based on its main export commodity. Given the dynamic nature of fiscal policy effects on the economy overtime, a dynamic framework is devised for the empirical analysis. The panel cointegration and error correction methodology is used to explain the relationships. In particular, the study employs the panel ECM technique to trace short-term effects of commodity prices on fiscal management and also uses the fully modified OLS (FMOLS) technique to determine the long run relationships. These procedures provide sufficient estimation of the dynamic effects of commodity prices on fiscal policy. Data used cover the period 1992 to 2016 for 11 SSA countries. The study finds that the elasticity of the fiscal policy measures with respect to the output gap is significant and positive, suggesting that fiscal policy is actually procyclical among the countries in the sample. This implies that fiscal management for these countries follows the trend of economic performance. Moreover, it is found that fiscal policy has not performed well in delivering macroeconomic stabilization for these countries. The difficulty in applying fiscal stabilization measures is attributable to the unstable revenue inflows due to the highly volatile nature of commodity prices in the international market. For commodity-exporting countries in SSA to improve fiscal management, therefore, fiscal planning should be largely decoupled from commodity revenues, domestic revenue bases must be improved, and longer period perspectives in fiscal policy management are the critical suggestions in this study. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=commodity%20prices" title="commodity prices">commodity prices</a>, <a href="https://publications.waset.org/abstracts/search?q=ECM" title=" ECM"> ECM</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20policy" title=" fiscal policy"> fiscal policy</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20procyclicality" title=" fiscal procyclicality"> fiscal procyclicality</a>, <a href="https://publications.waset.org/abstracts/search?q=fully%20modified%20OLS" title=" fully modified OLS"> fully modified OLS</a>, <a href="https://publications.waset.org/abstracts/search?q=sub-saharan%20africa" title=" sub-saharan africa"> sub-saharan africa</a> </p> <a href="https://publications.waset.org/abstracts/89422/dynamic-analysis-of-commodity-price-fluctuation-and-fiscal-management-in-sub-saharan-africa" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/89422.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">170</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9287</span> An Exposition of Principles of Islamic Fiscal Policy</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Muhammad%20A.%20Ishaq">Muhammad A. Ishaq</a>, <a href="https://publications.waset.org/abstracts/search?q=S.%20U.%20R.%20Aliyu"> S. U. R. Aliyu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper on an exposition of Islamic fiscal policy attempts to discuss the basic principles of Islamic fiscal policy in an Islamic economy. The paper presents a number of definitions of the subject matter, its nature and its tools of application. Government spending, taxation and public borrowings were identified as the tools of the policy. The paper identifies zakat both as a veritable source of revenue and a major instrument of economic stabilization. Furthermore, the paper presents an algebraic 2-sector and 3-sector models from the basic Keynesian model. The paper posits that in view of uniqueness of its instruments, absence of interest rate in the economy and the policy’s derive towards socioeconomic justice and redistribution, Islamic fiscal policy is capable of stabilizing Islamic economy and ushering it into the path of long term economic growth and prosperity. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=automatic%20built-in-stabilizers" title="automatic built-in-stabilizers">automatic built-in-stabilizers</a>, <a href="https://publications.waset.org/abstracts/search?q=government%20spending" title=" government spending"> government spending</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20fiscal%20policy" title=" Islamic fiscal policy"> Islamic fiscal policy</a>, <a href="https://publications.waset.org/abstracts/search?q=taxation" title=" taxation"> taxation</a>, <a href="https://publications.waset.org/abstracts/search?q=zakat" title=" zakat "> zakat </a> </p> <a href="https://publications.waset.org/abstracts/4766/an-exposition-of-principles-of-islamic-fiscal-policy" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/4766.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">346</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9286</span> Analysis on Financial Status and Operational Performance of Suan Sunandha Rajabhat University in 3 Fiscal Years (2011-2013)</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Anocha%20Kimkong">Anocha Kimkong</a>, <a href="https://publications.waset.org/abstracts/search?q=Natnichar%20Kleebbuabarn"> Natnichar Kleebbuabarn</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This research work has the objective to analyze the financial status and operational performance of Suan Sunandha Rajabhat University (SSRU) in 3 fiscal years (2011-2013). The tool used is a form to record financial statements and balances of the university. The analysis is based on the calculation that regards the figures in the fiscal year of 2011 as the 100% bases to be compared with the same figures in the fiscal years of 2012 and 2013, which are multiplied by 100 and divided by the base figures. The outcomes are the percentages of each year, which can reflect the rising, stable, and falling trends. The results from the analysis reveal that SSRU’s financial status is getting better because the gross assets, debts and accumulated cash are increasing in the fiscal years of 2012 and 2013. Concerning the operational performance, the university’s incomes and expenses are rising from the fiscal year of 2011. This makes the university’s incomes grow higher than expenses. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20status" title="financial status">financial status</a>, <a href="https://publications.waset.org/abstracts/search?q=operational%20performance" title=" operational performance"> operational performance</a>, <a href="https://publications.waset.org/abstracts/search?q=Suan%20Sunandha%20Rajabhat%20University" title=" Suan Sunandha Rajabhat University"> Suan Sunandha Rajabhat University</a>, <a href="https://publications.waset.org/abstracts/search?q=balances" title=" balances"> balances</a> </p> <a href="https://publications.waset.org/abstracts/11982/analysis-on-financial-status-and-operational-performance-of-suan-sunandha-rajabhat-university-in-3-fiscal-years-2011-2013" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/11982.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">388</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9285</span> Public Debt and Fiscal Stability in Nigeria</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abdulkarim%20Yusuf">Abdulkarim Yusuf</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Motivation: The Nigerian economy has seen significant macroeconomic instability, fuelled mostly by an overreliance on fluctuating oil revenues. The rising disparity between tax receipts and government spending in Nigeria necessitates government borrowing to fund the anticipated pace of economic growth. Rising public debt and fiscal sustainability are limiting the government's ability to invest in key infrastructure that promotes private investment and growth in Nigeria. Objective: This paper fills an empirical research vacuum by examining the impact of public debt on fiscal sustainability in Nigeria, given the significance of fiscal stability in decreasing poverty and the constraints that an unsustainable debt burden imposes on it. Data and method: Annual time series data covering the period 1980 to 2022 exposed to conventional and structural breaks stationarity tests and the Autoregressive Distributed Lag estimation approach were adopted for this study. Results: The results reveal that domestic debt stock, debt service payment, foreign reserve stock, exchange rate, and private investment all had a major adverse effect on fiscal stability in the long and short run, corroborating the debt overhang and crowding-out hypothesis. External debt stock, prime lending rate, and degree of trade openness, which boosted fiscal stability in the long run, had a major detrimental effect on fiscal stability in the short run, whereas foreign direct investment inflows had an important beneficial impact on fiscal stability in both the long and short run. Implications: The results indicate that fiscal measures that inspire domestic resource mobilization, sustainable debt management techniques, and dependence on external debt to boost deficit financing will improve fiscal stability and drive growth. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=ARDL%20co-integration" title="ARDL co-integration">ARDL co-integration</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20overhang" title=" debt overhang"> debt overhang</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20servicing" title=" debt servicing"> debt servicing</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20stability" title=" fiscal stability"> fiscal stability</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20debt" title=" public debt"> public debt</a> </p> <a href="https://publications.waset.org/abstracts/184499/public-debt-and-fiscal-stability-in-nigeria" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/184499.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">65</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9284</span> Effect of Fiscal Policy on Growth in India</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Parma%20Chakravartti">Parma Chakravartti</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The impact of government spending and taxation on economic growth has remained a central issue of fiscal policy analysis. There is a wide range of opinions over the strength of fiscal policy’s effect on macroeconomic variables. It can be argued that the impact of fiscal policy depends on the structure and economic condition of the economy. This study makes an attempt to examine the effect of fiscal policy shocks on growth in India using the structural vector autoregressive model (SVAR), considering data from 1950 to 2019. The study finds that government spending is an important instrument of growth in India, where the share of revenue expenditure to capital expenditure plays a key role. The optimum composition of total expenditure is important for growth and it is not necessarily true that capital expenditure multiplier is more than revenue expenditure multiplier. The study also finds that the impact of public economic activities on private economic activities for both consumption expenditure and gross capital formation of government crowds in private consumption expenditure and private gross capital formation, respectively, thus indicating that government expenditure complements private expenditure in India. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=government%20spending" title="government spending">government spending</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20policy" title=" fiscal policy"> fiscal policy</a>, <a href="https://publications.waset.org/abstracts/search?q=multiplier" title=" multiplier"> multiplier</a>, <a href="https://publications.waset.org/abstracts/search?q=growth" title=" growth"> growth</a> </p> <a href="https://publications.waset.org/abstracts/147513/effect-of-fiscal-policy-on-growth-in-india" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/147513.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">141</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9283</span> Revisiting the Fiscal Theory of Sovereign Risk from the DSGE View</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Eiji%20Okano">Eiji Okano</a>, <a href="https://publications.waset.org/abstracts/search?q=Kazuyuki%20Inagaki"> Kazuyuki Inagaki</a> </p> <p class="card-text"><strong>Abstract:</strong></p> We revisit Uribe's `Fiscal Theory of Sovereign Risk' advocating that there is a trade-off between stabilizing inflation and suppressing default. We develop a class of dynamic stochastic general equilibrium (DSGE) model with nominal rigidities and compare two de facto inflation stabilization policies, optimal monetary policy and optimal monetary and fiscal policy with the minimizing interest rate spread policy which completely suppress the default. Under the optimal monetary and fiscal policy, not only the nominal interest rate but also the tax rate work to minimize welfare costs through stabilizing inflation. Under the optimal monetary both inflation and output gap are completely stabilized although those are fluctuating under the optimal monetary policy. In addition, volatility in the default rate under the optimal monetary policy is considerably lower than one under the optimal monetary policy. Thus, there is not the SI-SD trade-off. In addition, while the minimizing interest rate spread policy makes inflation rate severely volatile, the optimal monetary and fiscal policy stabilize both the inflation and the default. A trade-off between stabilizing inflation and suppressing default is not so severe what pointed out by Uribe. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=sovereign%20risk" title="sovereign risk">sovereign risk</a>, <a href="https://publications.waset.org/abstracts/search?q=optimal%20monetary%20policy" title=" optimal monetary policy"> optimal monetary policy</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20theory%20of%20the%20price%20level" title=" fiscal theory of the price level"> fiscal theory of the price level</a>, <a href="https://publications.waset.org/abstracts/search?q=DSGE" title=" DSGE"> DSGE</a> </p> <a href="https://publications.waset.org/abstracts/50808/revisiting-the-fiscal-theory-of-sovereign-risk-from-the-dsge-view" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/50808.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">326</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9282</span> Budgeting Procedures and Fiscal Stance of OECD Countries in the Wake of Global Economic Crisis</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Yulia%20Kasperskaya">Yulia Kasperskaya</a>, <a href="https://publications.waset.org/abstracts/search?q=Ramon%20Xifr%C3%A9"> Ramon Xifré</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Budgetary procedures are considered to be important for countries’ fiscal performance. The objective of this paper is to analyze this relationship for the OECD countries in the wake of global economic crisis taking into consideration countries’ fiscal conditions and institutional arrangements. We test whether groups of countries that are fiscally different after the crisis differ in their use of budgetary procedures including performance budgeting, transparency mechanisms and medium-term expenditure framework. For this purpose, we classify OECD countries in two groups according to the variations, in debt to GDP ratio between 2008 and 2014. We then analyze the intensity of use of budget procedures taking into account countries’ economic conditions during the crisis. Our first finding is that there is no monotonic relationship between the intensity of use of these three budgetary procedures and enhanced fiscal performance. Countries showing similar fiscal performance scored differently in terms of on budgetary procedures. We, therefore, review the budgetary frameworks and trajectories of several countries that are fiscally sound. From this qualitative analysis, we derive a set of factors that may enhance the efficiency of budgetary procedures. This suggests that a given budgetary procedure may have different effects in different countries depending on their economic and administrative settings. Our results are thus in line with those studies that reject one-size-fits-all approaches. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=budget%20procedures" title="budget procedures">budget procedures</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20performance" title=" fiscal performance"> fiscal performance</a>, <a href="https://publications.waset.org/abstracts/search?q=OECD" title=" OECD"> OECD</a>, <a href="https://publications.waset.org/abstracts/search?q=performance%20budgeting" title=" performance budgeting"> performance budgeting</a> </p> <a href="https://publications.waset.org/abstracts/53504/budgeting-procedures-and-fiscal-stance-of-oecd-countries-in-the-wake-of-global-economic-crisis" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/53504.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">244</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9281</span> A Closer Look on Economic and Fiscal Incentives for Digital TV Industry</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Yunita%20Anwar">Yunita Anwar</a>, <a href="https://publications.waset.org/abstracts/search?q=Maya%20Safira%20Dewi"> Maya Safira Dewi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> With the increasing importance on digital TV industry, there must be several incentives given to support the growth of the industry. Prior research have found mixed findings of economic and fiscal incentives to economic growth, which means these incentives do not necessarily boost the economic growth while providing support to a particular industry. Focusing on a setting of digital TV transition in Indonesia, this research will conduct document analysis to analyze incentives have been given in other country and incentives currently available in Indonesia. Our results recommend that VAT exemption and local tax incentives could be considered to be added to the incentives list available for digital TV industry. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Digital%20TV%20transition" title="Digital TV transition">Digital TV transition</a>, <a href="https://publications.waset.org/abstracts/search?q=Economic%20Incentives" title=" Economic Incentives"> Economic Incentives</a>, <a href="https://publications.waset.org/abstracts/search?q=Fiscal%20Incentives" title=" Fiscal Incentives"> Fiscal Incentives</a>, <a href="https://publications.waset.org/abstracts/search?q=Policy." title=" Policy. "> Policy. </a> </p> <a href="https://publications.waset.org/abstracts/33256/a-closer-look-on-economic-and-fiscal-incentives-for-digital-tv-industry" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/33256.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">331</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9280</span> Foreign Human Capital as a Fiscal Burden on the UK's Exchequer: An Intellectual Capital Perspective</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Tasawar%20Nawaz">Tasawar Nawaz</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Migration has once again become a lively topic in Europe and UK, in particular. A burgeoning concern in the public debate, however, is driven by the fear that migrants are fiscal burden because they drain public resources by drawing on the generous social transfers introduced in Europe to prevent social exclusion. This study challenges these beliefs by gathering empirical evidence through a qualitative research approach on the subject matter. The analysis suggests that UK provides a rich social and economic environment for intellectual profiles especially, human intellectual capital of migrants to flourish and add value to the exchequer. Contrary to the beliefs held by politicians and general public, the empirical evidence suggests that migrants add higher fiscal contribution by working longer hours, paying consistent taxes, and bringing skills which UK may lack thus, are not fiscal burdens on the UK exchequer. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=austerity" title="austerity">austerity</a>, <a href="https://publications.waset.org/abstracts/search?q=European%20union" title=" European union"> European union</a>, <a href="https://publications.waset.org/abstracts/search?q=human%20intellectual%20capital" title=" human intellectual capital"> human intellectual capital</a>, <a href="https://publications.waset.org/abstracts/search?q=migrants" title=" migrants"> migrants</a>, <a href="https://publications.waset.org/abstracts/search?q=social%20welfare" title=" social welfare"> social welfare</a>, <a href="https://publications.waset.org/abstracts/search?q=United%20Kingdom" title=" United Kingdom"> United Kingdom</a> </p> <a href="https://publications.waset.org/abstracts/49412/foreign-human-capital-as-a-fiscal-burden-on-the-uks-exchequer-an-intellectual-capital-perspective" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/49412.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">315</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9279</span> A Resource-Based Understanding of Health and Social Care Regulation</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=David%20P.%20Horton">David P. Horton</a>, <a href="https://publications.waset.org/abstracts/search?q=Gary%20Lynch-Wood"> Gary Lynch-Wood</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Western populations are aging, prone to various lifestyle health problems, and increasing their demand for health and social care services. This demand has created enormous fiscal and regulatory challenges. In response, government institutions have deployed strategies of behavior modification to encourage people to exercise greater personal responsibility over their health and care needs (i.e., welfare responsibilisation). Policy strategies are underpinned by the assumption that people if properly supported, will make better health and lifestyle selections. Not only does this absolve governments of the responsibility for meeting all health and care needs, but it also enables government institutions to assert fiscal control over welfare spending. Looking at the regulation of health and social care in the UK, the authors identify and outline a suite of regulatory tools that are designed to extract and manage the resources of health and social care services users and to encourage them to make (‘better’) use of these resources. This is important for our understanding of how health and social care regulation is responding to ongoing social and economic challenges. It is also important because there has been a failure to systematically examine the relevance of resources for regulation, which is surprising given that resources are crucial to how and whether regulation succeeds or fails. In particular, drawing from the regulatory welfare state concept, the authors analyse the key legal and regulatory changes and mechanisms that have been introduced since the 2008 financial crisis, focusing on critical measures such as the Health and Social Care Act and regulations introduced under the National Health Service Act. The authors show how three types of user resources (i.e., tangible, labor, and data) are being used to assert fiscal control and increase welfare responsibilisation. Amongst other things, the paper concludes that service users have become more than rule followers and targets of behavioral modification; rather, they are producers of resources that regulatory systems have come to rely on. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=health%20care" title="health care">health care</a>, <a href="https://publications.waset.org/abstracts/search?q=regulation" title=" regulation"> regulation</a>, <a href="https://publications.waset.org/abstracts/search?q=resources" title=" resources"> resources</a>, <a href="https://publications.waset.org/abstracts/search?q=social%20care" title=" social care"> social care</a> </p> <a href="https://publications.waset.org/abstracts/155819/a-resource-based-understanding-of-health-and-social-care-regulation" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/155819.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">99</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9278</span> Measuring the Extent of Equalization in Fiscal Transfers in India: An Index-Based Approach</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ragini%20Trehan">Ragini Trehan</a>, <a href="https://publications.waset.org/abstracts/search?q=D.K.%20Srivastava"> D.K. Srivastava</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In the post-planning era, India’s fiscal transfers from the central to state governments are solely determined by the Finance Commissions (FCs). While in some of the well-established federations such as Australia, Canada, and Germany, equalization serves as the guiding principle of fiscal transfers and is constitutionally mandated, in India, it is not explicitly mandated, and FCs attempt to implement it indirectly by a combination of a formula-based share in the divisible pool of central taxes supplemented by a set of grants. In this context, it is important to measure the extent of equalization that is achieved through FC transfers with a view to improving the design of such transfers. This study uses an index-based methodology for measuring the degree of equalization achieved through FC-transfers covering the period from FC12 to the first year of FC15 spanning from 2005-06 to 2020-21. The ‘Index of Equalization’ shows that the extent of equalization has remained low in the range of 30% to 37% for the four Commission periods under review. The highest degree of equalization at 36.7% was witnessed in the FC12 period and the lowest equalization at 29.5% was achieved during the FC15(1) period. The equalizing efficiency of recommended transfers also shows a consistent fall from 11.4% in the FC12 period to 7.5% by the FC15 (1) period. Further, considering progressivity in fiscal transfers as a special case of equalizing transfers, this study shows that the scheme of per capita total transfers when determined using the equalization approach is more progressive and is characterized by minimal deviations as compared to the profile of transfers recommended by recent FCs. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fiscal%20transfers" title="fiscal transfers">fiscal transfers</a>, <a href="https://publications.waset.org/abstracts/search?q=index%20of%20equalization" title=" index of equalization"> index of equalization</a>, <a href="https://publications.waset.org/abstracts/search?q=equalizing%20efficiency" title=" equalizing efficiency"> equalizing efficiency</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20capacity" title=" fiscal capacity"> fiscal capacity</a>, <a href="https://publications.waset.org/abstracts/search?q=expenditure%20needs" title=" expenditure needs"> expenditure needs</a>, <a href="https://publications.waset.org/abstracts/search?q=finance%20Commission" title=" finance Commission"> finance Commission</a>, <a href="https://publications.waset.org/abstracts/search?q=tax%20effort" title=" tax effort"> tax effort</a> </p> <a href="https://publications.waset.org/abstracts/176004/measuring-the-extent-of-equalization-in-fiscal-transfers-in-india-an-index-based-approach" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/176004.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">94</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9277</span> Co-Creating Value between Public Financial Management Institutions: An Integrated Approach towards Financial Sustainability</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Pascal%20Horni">Pascal Horni</a>, <a href="https://publications.waset.org/abstracts/search?q=Sandro%20Fuchs"> Sandro Fuchs</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In presence of increasing deficits and public debt among OECD countries, the debate on fiscal disciple and mechanisms to constrain public spending policy heated up and gave rise to the institutionalization of fiscal rules. Considering the notions from political economy literature and the therein advocated axiom of maximization of votes, introduction of institutional mechanisms and rules to govern public spending is likely to be coined by electoral motives. While there exists a series of research concerned with the rise of creative accounting in the presence fiscal rules, implementation of accrual government accounting and its impact on the biting of fiscal rules has to authors’ best knowledge never been explored. This paper serves the illumination of the connection between debt break mechanisms and the adoption of accrual public sector accounting standards such as the IPSAS in the interface of political economy in the Swiss context. By explicitly considering the technical accounting dimension, this paper develops an integrated conceptual view on well-established Public Financial Management (PFM) institutions and elaborates how their interdependencies can co-create value with regard to the contemporary challenge of fiscal sustainability. Derivation of this integrated view follows an explorative approach, taking into account expert interviews with director level staff from cantonal finance administrations and policy documents, as well as literature from both research areas – public sector accounting and political economy. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=accounting" title="accounting">accounting</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20rules" title=" fiscal rules"> fiscal rules</a>, <a href="https://publications.waset.org/abstracts/search?q=International%20Public%20Sector%20Accounting%20Standards%20%28IPSAS%29" title=" International Public Sector Accounting Standards (IPSAS)"> International Public Sector Accounting Standards (IPSAS)</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20financial%20management" title=" public financial management "> public financial management </a> </p> <a href="https://publications.waset.org/abstracts/83770/co-creating-value-between-public-financial-management-institutions-an-integrated-approach-towards-financial-sustainability" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/83770.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">163</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9276</span> The Effect of Macroeconomic Policies on Cambodia's Economy: ARDL and VECM Model</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Siphat%20Lim">Siphat Lim</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study used Autoregressive Distributed Lag (ARDL) approach to cointegration. In the long-run the general price level and exchange rate have a positively significant effect on domestic output. The estimated result further revealed that fiscal stimulus help stimulate domestic output in the long-run, but not in the short-run, while monetary expansion help to stimulate output in both short-run and long-run. The result is complied with the theory which is the macroeconomic policies, fiscal and monetary policy; help to stimulate domestic output in the long-run. The estimated result of the Vector Error Correction Model (VECM) has indicated more clearly that the consumer price index has a positive effect on output with highly statistically significant. Increasing in the general price level would increase the competitiveness among producers than increase in the output. However, the exchange rate also has a positive effect and highly significant on the gross domestic product. The exchange rate depreciation might increase export since the purchasing power of foreigners has increased. More importantly, fiscal stimulus would help stimulate the domestic output in the long-run since the coefficient of government expenditure is positive. In addition, monetary expansion would also help stimulate the output and the result is highly significant. Thus, fiscal stimulus and monetary expansionary would help stimulate the domestic output in the long-run in Cambodia. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fiscal%20policy" title="fiscal policy">fiscal policy</a>, <a href="https://publications.waset.org/abstracts/search?q=monetary%20policy" title=" monetary policy"> monetary policy</a>, <a href="https://publications.waset.org/abstracts/search?q=ARDL" title=" ARDL"> ARDL</a>, <a href="https://publications.waset.org/abstracts/search?q=VECM" title=" VECM"> VECM</a> </p> <a href="https://publications.waset.org/abstracts/22223/the-effect-of-macroeconomic-policies-on-cambodias-economy-ardl-and-vecm-model" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/22223.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">437</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9275</span> Assessing the Macroeconomic Effects of Fiscal Policy Changes in Egypt: A Bayesian Structural Vector Autoregression Approach</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Walaa%20Diab">Walaa Diab</a>, <a href="https://publications.waset.org/abstracts/search?q=Baher%20Atlam"> Baher Atlam</a>, <a href="https://publications.waset.org/abstracts/search?q=Nadia%20El%20Nimer"> Nadia El Nimer</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Egypt faces many obvious economic challenges, and it is so clear that a real economic transformation is needed to address those problems, especially after the recent decisions of floating the Egyptian pound and the gradual subsidy cuts that are trying to meet the needed conditions to get the IMF support of (a £12bn loan) for its economic reform program. Following the post-2008 revival of the interest in the fiscal policy and its vital role in speeding up or slowing down the economic growth. Here comes the value of this paper as it seeks to analyze the macroeconomic effects of fiscal policy in Egypt by applying A Bayesian SVAR Approach. The study uses the Bayesian method because it includes the prior information and no relevant information is omitted and so it is well suited for rational, evidence-based decision-making. Since the study aims to define the effects of fiscal policy shocks in Egypt to help the decision-makers in determining the proper means to correct the structural problems in the Egyptian economy, it has to study the period of 1990s economic reform, but unfortunately; the available data is on an annual frequency. Thus, it uses annual time series to study the period 1991: 2005 And quarterly data over the period 2006–2016. It uses a set of six main variables includes government expenditure and net tax revenues as fiscal policy arms affecting real GDP, unemployment, inflation and the interest rate. The study also tries to assess the 'crowding out' effects by considering the effects of government spending and government revenue shocks on the composition of GDP, namely, on private consumption and private investment. Last but not least the study provides its policy implications regarding the needed role of fiscal policy in Egypt in the upcoming economic reform building on the results it concludes from the previous reform program. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fiscal%20policy" title="fiscal policy">fiscal policy</a>, <a href="https://publications.waset.org/abstracts/search?q=government%20spending" title=" government spending"> government spending</a>, <a href="https://publications.waset.org/abstracts/search?q=structural%20vector%20autoregression" title=" structural vector autoregression"> structural vector autoregression</a>, <a href="https://publications.waset.org/abstracts/search?q=taxation" title=" taxation"> taxation</a> </p> <a href="https://publications.waset.org/abstracts/61872/assessing-the-macroeconomic-effects-of-fiscal-policy-changes-in-egypt-a-bayesian-structural-vector-autoregression-approach" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/61872.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">284</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9274</span> Value Relevance of Accounting Information: Empirical Evidence from China</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ying%20Guo">Ying Guo</a>, <a href="https://publications.waset.org/abstracts/search?q=Miaochan%20Li"> Miaochan Li</a>, <a href="https://publications.waset.org/abstracts/search?q=David%20Yang"> David Yang</a>, <a href="https://publications.waset.org/abstracts/search?q=Xiao-Yan%20Li"> Xiao-Yan Li</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper examines the relevance of accounting information to stock prices at different periods using manufacturing companies listed in China’s Growth Enterprise Market (GEM). We find that both the average stock price at fiscal year-end and the average stock price one month after fiscal year-end are more relevant to the accounting information than the closing stock price four months after fiscal year-end. This implies that Chinese stock markets react before the public disclosure of accounting information, which may be due to information leak before official announcements. Our findings confirm that accounting information is relevant to stock prices for Chinese listed manufacturing companies, which is a critical question to answer for investors who have interest in Chinese companies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=accounting%20information" title="accounting information">accounting information</a>, <a href="https://publications.waset.org/abstracts/search?q=response%20time" title=" response time"> response time</a>, <a href="https://publications.waset.org/abstracts/search?q=value%20relevance" title=" value relevance"> value relevance</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20price" title=" stock price"> stock price</a> </p> <a href="https://publications.waset.org/abstracts/165552/value-relevance-of-accounting-information-empirical-evidence-from-china" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/165552.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">101</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9273</span> Fiscal Resilience and State-building: Analyzing the Impact of Taxation in Post-Conflict Azerbaijan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Gunel%20J.%20Amrahova">Gunel J. Amrahova</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This research aims to investigate the nuanced relationship between taxation dynamics and state-building resilience in post-conflict Azerbaijan, focusing on the transformative period spanning from 1984 to 2024. The study employs a rigorous time series analysis methodology to dissect the impact of taxation policies on fiscal stability, economic recovery, and social cohesion in the aftermath of the Karabakh conflict. By scrutinizing tax payments, budget allocations, SME proliferation, population demographics, and GDP trajectories, the research endeavors to uncover empirical insights into the intricate interplay between fiscal policies and state-building imperatives. Ultimately, this research aspires to furnish policymakers and stakeholders with evidence-based recommendations for fostering sustainable development and resilience in conflict-affected contexts. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=taxation" title="taxation">taxation</a>, <a href="https://publications.waset.org/abstracts/search?q=state%20building" title=" state building"> state building</a>, <a href="https://publications.waset.org/abstracts/search?q=post-conflict" title=" post-conflict"> post-conflict</a>, <a href="https://publications.waset.org/abstracts/search?q=policy" title=" policy"> policy</a>, <a href="https://publications.waset.org/abstracts/search?q=budget-allocation" title=" budget-allocation"> budget-allocation</a>, <a href="https://publications.waset.org/abstracts/search?q=state%20program" title=" state program"> state program</a> </p> <a href="https://publications.waset.org/abstracts/198944/fiscal-resilience-and-state-building-analyzing-the-impact-of-taxation-in-post-conflict-azerbaijan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/198944.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">1</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9272</span> Policy Effectiveness in the Situation of Economic Recession</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=S.%20K.%20Ashiquer%20Rahman">S. K. Ashiquer Rahman</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The proper policy handling might not able to attain the target since some of recessions, e.g., pandemic-led crises, the variables shocks of the economics. At the level of this situation, the Central bank implements the monetary policy to choose increase the exogenous expenditure and level of money supply consecutively for booster level economic growth, whether the monetary policy is relatively more effective than fiscal policy in altering real output growth of a country or both stand for relatively effective in the direction of output growth of a country. The dispute with reference to the relationship between the monetary policy and fiscal policy is centered on the inflationary penalty of the shortfall financing by the fiscal authority. The latest variables socks of economics as well as the pandemic-led crises, central banks around the world predicted just about a general dilemma in relation to increase rates to face the or decrease rates to sustain the economic movement. Whether the prices hang about fundamentally unaffected, the aggregate demand has also been hold a significantly negative attitude by the outbreak COVID-19 pandemic. To empirically investigate the effects of economics shocks associated COVID-19 pandemic, the paper considers the effectiveness of the monetary policy and fiscal policy that linked to the adjustment mechanism of different economic variables. To examine the effects of economics shock associated COVID-19 pandemic towards the effectiveness of Monetary Policy and Fiscal Policy in the direction of output growth of a Country, this paper uses the Simultaneous equations model under the estimation of Two-Stage Least Squares (2SLS) and Ordinary Least Squares (OLS) Method. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=IS-LM%20framework" title="IS-LM framework">IS-LM framework</a>, <a href="https://publications.waset.org/abstracts/search?q=pandemic.%20Economics%20variables%20shocks" title=" pandemic. Economics variables shocks"> pandemic. Economics variables shocks</a>, <a href="https://publications.waset.org/abstracts/search?q=simultaneous%20equations%20model" title=" simultaneous equations model"> simultaneous equations model</a>, <a href="https://publications.waset.org/abstracts/search?q=output%20growth" title=" output growth"> output growth</a> </p> <a href="https://publications.waset.org/abstracts/168473/policy-effectiveness-in-the-situation-of-economic-recession" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/168473.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">101</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9271</span> The Fiscal and Macroeconomic Impacts of Reforming Energy Subsidy Policy in Malaysia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nora%20Yusma%20Bte%20Mohamed%20Yusoff">Nora Yusma Bte Mohamed Yusoff</a>, <a href="https://publications.waset.org/abstracts/search?q=Hussain%20Ali%20Bekhet"> Hussain Ali Bekhet</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The rationalization of a gradual subsidies reforms plan has been set out by the Malaysian government to achieve the high-income nation target. This paper attempts to analyze the impacts of energy subsidy reform policy on fiscal deficit and macroeconomics variables in Malaysia. The Computable General Equilibrium (CGE) Model is employed. Three simulations based on different groups of scenarios have been developed. Importantly, the overall results indicate that removal of fuel subsidy has significantly improved the real GDP and reduced the government fiscal deficit. On the other hand, the removal of the fuel subsidy has increased most of the local commodity prices, especially energy commodities. The findings of the study could provide some imperative inputs for policy makers, especially to identify the right policy mechanism. This is especially ensures the subsidy savings from subsidy removal could be transferred back into the domestic economy in the form of infrastructure development, compensation and increases in others sector output contributions towards a sustainable economic growth. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=CGE" title="CGE">CGE</a>, <a href="https://publications.waset.org/abstracts/search?q=deficit" title=" deficit"> deficit</a>, <a href="https://publications.waset.org/abstracts/search?q=energy" title=" energy"> energy</a>, <a href="https://publications.waset.org/abstracts/search?q=reform" title=" reform"> reform</a>, <a href="https://publications.waset.org/abstracts/search?q=subsidy" title=" subsidy"> subsidy</a> </p> <a href="https://publications.waset.org/abstracts/70485/the-fiscal-and-macroeconomic-impacts-of-reforming-energy-subsidy-policy-in-malaysia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/70485.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">270</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9270</span> The Political Economy of Fiscal and Monetary Interactions in Brazil</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Marcos%20Centurion-Vicencio">Marcos Centurion-Vicencio</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study discusses the idea of ‘dominance’ in economic policy and its practical influence over monetary decisions. The discretionary use of repurchase agreements in Brazil over the period 2006-2016 and its effects on the overall price level are the specific issues we will be focusing on. The set of in-depth interviews carried out with public servants at the Brazilian central bank and national treasury, alongside data collected from the National Institution of Statistics (IBGE), suggest that monetary and fiscal dominance do not differ in nature once the assumption of depoliticized central bankers is relaxed. In both regimes, the pursuit of private gains via public institutions affects price stability. While short-sighted politicians in the latter are at the origin of poor monetary decisions, the action of short-sighted financial interest groups is likely to generate a similar outcome in the former. This study then contributes to rethinking monetary policy theory as well as the nature of public borrowing. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fiscal%20and%20monetary%20interactions" title="fiscal and monetary interactions">fiscal and monetary interactions</a>, <a href="https://publications.waset.org/abstracts/search?q=interest%20groups" title=" interest groups"> interest groups</a>, <a href="https://publications.waset.org/abstracts/search?q=monetary%20capture" title=" monetary capture"> monetary capture</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20borrowing" title=" public borrowing"> public borrowing</a> </p> <a href="https://publications.waset.org/abstracts/116303/the-political-economy-of-fiscal-and-monetary-interactions-in-brazil" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/116303.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">140</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9269</span> Public Debt Sustainability Analysis of the Economic Community of West African States (ECOWAS)</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Solomon%20Yaw%20Agyeman-Boaten">Solomon Yaw Agyeman-Boaten</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Natural disasters, economic crises, financial crises, and epidemics like COVID-19 necessitate a discussion about how different economies can manage their debt. Studies have shown high public debt and fiscal deficit in Africa and the ECOWAS region. Even in advanced countries, only a few remain safe from solvency risk. This study investigates the public debt sustainability among the Economic Community of West African States (ECOWAS). Annual panel data for the ECOWAS economies from the World Economic Outlook database from 2007 to 2023 is used for the analysis. Bohn's sustainability framework (fiscal reaction function) was employed to examine the sustainability of public debt in the ECOWAS region and verify the influence of public debt on primary balance. The IMF Debt-Sustainability-Analysis (DSA) framework is also utilised to make projections for public debt and evaluate the risks surrounding the predicted trajectories. The results show that the previous year's debt does not influence the primary balance in the region. Also, the nonlinearity of the primary balance could not be confirmed among ECOWAS economies. Hence, evidence of debt sustainability and the nonlinearity of the fiscal reaction framework could not be explained by the data from the ECOWAS region. On the other hand, real expenditure, real revenue, and inflation significantly influenced the primary balance of the region. Therefore, further studies are required to investigate debt sustainability in the region. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=debt%20sustainability%20analysis" title="debt sustainability analysis">debt sustainability analysis</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20reaction%20function" title=" fiscal reaction function"> fiscal reaction function</a>, <a href="https://publications.waset.org/abstracts/search?q=primary%20balance" title=" primary balance"> primary balance</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20debt" title=" public debt"> public debt</a> </p> <a href="https://publications.waset.org/abstracts/197265/public-debt-sustainability-analysis-of-the-economic-community-of-west-african-states-ecowas" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/197265.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">11</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9268</span> European Countries Challenge’s in Value Added Tax</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Fatbardha%20Kadiu">Fatbardha Kadiu</a>, <a href="https://publications.waset.org/abstracts/search?q=Nulifer%20Caliskan"> Nulifer Caliskan</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The value added tax came as a necessity of substituting the old tax on sales. Based on the advantages of this new tax in our days it is used successfully in more than 140 countries around the world. The aim of the paper is to describe the nature of this tax with its advantages and disadvantages. Also it will describe the way how it functions in most of the European countries and the actual challenges of these countries on value added tax. It will be present the types of goods which are exempt from this tax, the reasons and the consequences of those exemptions. The paper will be based on secondary data taken from respective literature. An econometric model will be present in order to identify the dependence of value tax from other parameters. The analyzing most refers to the two main principles of harmonization and billing on the fiscal system and the ways how to restructures the system in order to minimize the fiscal evasion. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=value%20added%20tax" title="value added tax">value added tax</a>, <a href="https://publications.waset.org/abstracts/search?q=revenues" title=" revenues"> revenues</a>, <a href="https://publications.waset.org/abstracts/search?q=complexity" title=" complexity"> complexity</a>, <a href="https://publications.waset.org/abstracts/search?q=legal%20uncertainty" title=" legal uncertainty"> legal uncertainty</a> </p> <a href="https://publications.waset.org/abstracts/26042/european-countries-challenges-in-value-added-tax" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/26042.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">404</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9267</span> Predicting the Lack of GDP Growth: A Logit Model for 40 Advanced and Developing Countries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Hamidou%20Diallo">Hamidou Diallo</a>, <a href="https://publications.waset.org/abstracts/search?q=Marianne%20Guille"> Marianne Guille</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper identifies leading triggers of deficient episodes in terms of GDP growth based on a sample of countries at different stages of development over 1994-2017. Using logit models, we build early warning systems (EWS), and our results show important differences between developing countries (DCs) and advanced economies (AEs). For AEs, the main predictors of the probability of entering in a GDP growth deficient episode are the deterioration of external imbalances and the vulnerability of fiscal position while DCs face different challenges that need to be considered. The key indicators for them are first, the low ability to pay their debts, and second, their belonging or not to a common currency area. We also build homogeneous pools of countries inside AEs and DCs. The evolution of the proportion of AE countries in the riskiest pool is marked first, by three distinct peaks just after the high-tech bubble burst, the global financial crisis, and the European sovereign debt crisis, and second by a very low minimum level in 2006 and 2007. In contrast, the situation of DCs is characterized first by the relative stability of this proportion and then by an upward trend from 2006, that can be explained by a more unfavorable socio-political environment leading to shortcomings in the fiscal consolidation. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=currency%20area" title="currency area">currency area</a>, <a href="https://publications.waset.org/abstracts/search?q=early%20warning%20system" title=" early warning system"> early warning system</a>, <a href="https://publications.waset.org/abstracts/search?q=external%20imbalances" title=" external imbalances"> external imbalances</a>, <a href="https://publications.waset.org/abstracts/search?q=fiscal%20vulnerability" title=" fiscal vulnerability"> fiscal vulnerability</a>, <a href="https://publications.waset.org/abstracts/search?q=GDP%20growth" title=" GDP growth"> GDP growth</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20debt" title=" public debt"> public debt</a> </p> <a href="https://publications.waset.org/abstracts/134058/predicting-the-lack-of-gdp-growth-a-logit-model-for-40-advanced-and-developing-countries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/134058.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">130</span> </span> </div> </div> <ul class="pagination"> <li class="page-item disabled"><span class="page-link">&lsaquo;</span></li> <li class="page-item active"><span class="page-link">1</span></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=fiscal%20health&page=2">2</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=fiscal%20health&page=3">3</a></li> <li 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