تحليل دور السياسة المالية في تعزيز الابتكار في العراق للمدة (2004-2023)

This paper uses quarterly data from the period (2004-2023) and the regression model to show how fiscal policy, through its tools (public revenues and public expenditures), affects economic development (such as GDP and inflation) and social development (such as unemployment and poverty) in the Iraqi economy.-Self-distributed slowdown periods (ARDL), and the findings indicated that public revenues and expenditures, which are financial policy tools, have a direct correlation with GDP, a direct correlation with inflation, a direct correlation with fiscal policy tools, and an inverse correlation with inflation. The relationship between unemployment and public revenues and expenditures. The relationship between public spending and poverty was inverse, and all of the aforementioned associations hold true in both the long and short term, and they are consistent with economic theory. The relationship between public revenues and poverty was inverse in the short term, which is compatible with the logic of the economic theory, but direct in the long run, which contradicts economics. Theory.

The research aims to measure the impact of positive and negative fiscal policy shocks on monetary stability in Iraq, which represents monetary stability as an indicator of real and price stability. Fiscal policy shocks are quantitative changes in public spending and public revenue affecting the output and price cycle, and fiscal policy despite the accompanying time gaps, but it remains a policy Influential and has a significant degree of impact on economic growth and development in developing countries. The fiscal policy represents a numerical translation of the economic and social objectives planned in the state's general budget tool consistent with the GDP cycle. The economic and social goals stem from the core of the functions and the main objectives of the fiscal policy, namely the allocation of resources, stability and restoration Distribution and these functions, as we know, free market techniques may fail to achieve them, which interferes with the financial policy to address the failure of the market to reach the set goals, and that coordination between fiscal and monetary policies does not mean a loss of independence as much as it means correcting fiscal and monetary policies without causing undesirable adverse effects upon the necessary correction. For local courses Opposing this coordination, and we have touched on the monetary stability index adopted by the International Monetary Fund (IMF) to discuss the impact of financial shocks on the monetary stability index in Iraq, where the Iraqi economy witnessed positive fiscal and revenue policy shocks with limited negative financial shocks in spending. Public and public revenue and the impact was studied through the existence of long-term relationships that link fiscal policy shocks, i.e. quantitative changes in public spending and public revenue on monetary stability. The boundary test within the Autoregression techniques of distributed Lag demonstrated the existence of a long-term relationship between fiscal policy shocks and monetary stability in Iraq.

Researchers have come up with varying opinions on the impact of fiscal policy tools on the economic growth of many nations. While some are of the view that fiscal policy tools have positive relationship with economic growth, others posit that it has a negative impact while a third group are of the opinion that its impact could either be positive or negative depending on how it is harnessed with other macro-economic variables and yet a fourth school of thought has emerged. They are of the opinion that fiscal policy tools could have a little but not significant impact on the economic growth of any given nation. Thus this study is set to lend its voice and opinion on this discuss with emphasis on the Nigerian economy using a time series data for the period 1999-2020. The data were analyzed using Ordinary Least Square method and a Vector Auto regression Analysis. In the model, Real GDP (taken as dependent variable) was regressed on tax revenues, capital and recurrent expenditures. Other independent variables include deficit financing, external and domestic debts. Findings of study indicate that in the short run, deficit financing, domestic debt and recurrent expenditures all had significant positive relationship with economic growth in Nigeria; while there exists a significant negative relationship between external debts and real GDP. Capital expenditure and tax revenues did not have a significant relationship with economic growth in Nigeria in the short run. In the long run, the earlier outcomes fizzled out as only the lagged value of RGDP, taken as an explanatory variable was found to be positively significant. From the foregoing analysis, it was established that fiscal policy tools did not sustain a significant relationship with economic growth in Nigeria in the long run, thus pitching our tent with the fourth school of thought. Fiscal policy tools are not enough to pilot the economic ship of Nigeria. The study therefore recommends that government should use fiscal policy instruments to complement its sister strategy – the monetary policy tools to promote stability in the Nigerian economy. A good mix of fiscal and monetary policy tools could help in the formulation and implementation of sound economic policies; the impact of which will be appreciated from the standpoint of how rapidly and effectively it fosters, innovates or facilitates economic growth in Nigeria.

Mortality reductions from marginal increases in public spending on health

Comment

La recaudación tributaria es un instrumento de política fiscal de vital importancia para un estado, ya que permite el generar los ingresos necesarios que aportan a la consecución de las metas según el plan económico del país. Así también, el gasto público constituye otra herramienta de la política fiscal, que puede incidir en la economía nacional al destinar los recursos obtenidos a diferentes sectores según las priorizaciones. Estos elementos deben ser manejados de manera técnica, para evitar que un país obtenga resultados fiscales negativos consecutivos, lo que le causaría un desequilibrio y llevaría al sobreendeudamiento público. El presente artículo centró su atención en la recaudación de impuestos de los últimos 10 años del país, analizando cuales fueron los motivos del crecimiento de los ingresos fiscales. Así también, se revisó el gasto público de los años precedentes, con la finalidad de observar su composición y crecimiento respecto del Producto Interno Bruto (PIB), así como también en función de los ingresos públicos. Como parte del análisis efectuado, se revisaron brevemente las cifras de la deuda pública total, evidenciando su incremento actual. Adicionalmente, se verificó la evolución del presupuesto del gobierno central, para validar el cumplimiento de los objetivos sociales. Finalmente, se efectuaron conclusiones y recomendaciones sobre la recaudación tributaria y el gasto público, como herramientas de política fiscal, en función de los resultados anuales de los períodos analizados.

As a critical tool to optimize the allocation of resources, fiscal and tax policy plays an important role in promoting the deep development of army-civilian integration. This paper focuses on how to reasonably choose fiscal and tax policy tools to promote the development of army-civilian integration. First of all, it makes a comparative analysis of the decision-making body, scope, speed, cost and effect of all kind of fiscal and tax policy tools. Secondly, on the basis of combing the existing fiscal and tax policies, the paper points out the problems and shortcomings. The specific problem is the insufficient use of tool types and performance. The army-civilian integration of tools is not well targeted, and tools lack of pertinence for different types of army-civilian integration enterprises. Then, it further analyzes that the policy objectives, policy environment and the characteristics of army-civilian integration enterprises should be considered when selecting and optimizing fiscal and tax policy tools. Finally, on the foundation of the previous analysis, it gives suggestions on how to rationally choose and apply fiscal and tax policy tools to promote the further development of army-civilian integration. That is to say, when choosing fiscal and tax tools, on the one hand, we should not deviate from the performance of fiscal and tax policy tools, on the other hand, we should not ignore the development law of army-civilian integration industry. On this basis, we should strengthen the combination of fiscal policy tools and tax policy tools, the internal combination of tax policy tools and the internal combination of fiscal policy tools.

Public education spending and private substitution in urban China

Public School Resources and Private Substitution in Urban China

In contrast to what happened during the golden age of Keynesian policies in the 1950s and 1960s, today fiscal policy has lost relevance, both in the short term as an instrument to stabilize the business cycle, with monetary policy gaining relevance, and in the long term with supply-side policies playing a predominant role. Two reasons explain the downgrading of fiscal policy. The first reason is a practical one, namely, the need to reduce the high levels of public deficit and debt, fiscal imbalances generated by the mix of increases in public spending and cuts in taxation and a tight monetary policy leading to high real interest rates. The second reason is related to the dominance of neoclassical theories, which maintain that both fiscal imbalances and the large size of public revenues and expenditures have a negative impact on economic activity and growth in the short and long term.

On the Composition of Public Spending and Taxes

PurposeStandard economic theory predicts that any increase in public spending is accompanied by a rise in inflation in an economy. This paper presents empirical proof that prices do not always rise with an increase in public expenditure but only up to a certain threshold level. The primary aim of this paper is to unearth the government size-inflation nexus in India for the period from 1971 to 2019.Design/methodology/approachThe logistic STAR (smooth transition autoregression) model is employed to unravel the government size-inflation nexus for the Indian economy from a non-linear perspective.FindingsThe finding of our study confirm the non-linear relationship between the size of the government and inflation in India. The estimated threshold level for government size is precisely found to be 9.27%. The size of the government exerts a negative influence on inflation until it reaches the optimal or threshold level. Any further increase in the size of government beyond this threshold level would result in a rise in inflation.Research limitations/implicationsThe findings have implications for the conduct of fiscal policy. Policymakers can increase government spending in a regime of small government size without having any inflationary impacts by generating revenues from taxes and other sources instead of relying much on the central bank. In the regime of a large-sized government, adhering strictly to the discipline in the conduct of fiscal and monetary policies would help curb inflation and enhance growth synchronously, hence alleviating any loss of welfare.Originality/valueTo the best of the authors’ knowledge, this study is an attempt to revisit the government size-inflation nexus in India from a non-linear perspective using the Smooth Transition Autoregression (STAR) model for the first time.

IMPROVEMENT OF THE FISCAL POLICY OF UKRAINE UNDER THE CONDITIONS OF THE FORMATION OF A DIGITAL ECONOMY

Fiscal and monetary policy plays a vital role in macroeconomic stability. The Keynesians have emphasized the fiscal policy whereas the Monetarists supported interventions under monetary policy. In fact, these policies are interrelated and influence each other. The expansionary fiscal policy overheats the economy and reduce the effectiveness of monetary policy. The use of the appropriate mix of tools under fiscal and monetary policy is of immense importance for economic stability under country specific economic conditions. Therefore, the instant study was meant to look at the effectiveness of monetary and fiscal policy instruments in stabilization of Pakistan’s economy. The data was collected from secondary sources of Government of Pakistan from 1986 to 2022. The government expenditure was analyzed to be a proxy for fiscal policy whereas money supply for monetary policy. The study employed Impulse Response Function (IRF) and Variance Decomposition (VDC) in Vector Autoregressive (VAR) Model. The findings of IRF confirmed the impact of money supply on economic growth in Pakistan. At first, the money supply affected the GDP negatively but after 3rd year, its impact was changed to be positive and it was rising sharply. It indicated that the expansionary monetary policy was effective in the medium and long run in Pakistan. It was concluded that the fiscal policy appeared to be relatively more effective for its contribution towards economic growth as compared with monetary policy.

IntroductionMonetary and fiscal policies have long been the important instruments for policy makers to achieve their macroeconomic goals like economic growth with price stability and exchange rate stability and economic development. Monetary policy is the policy used by the central bank to control the liquidity in the market which involves controlling inflation, exchange rate oscillations through various monetary instruments like CRR, SLR various interest rates and open market operations. Likewise finance ministry uses fiscal policy to achieve its objectives like economic growth and development through various fiscal tools like public revenue, public expenditure and public borrowings.According to traditional macroeconomic theories, fiscal policy is more effective in the case of fixed exchange rate system and monetary policy is more effective under flexible exchange rate system. Economists usually compare the effect of both these policies on different economies under different exchange rate regimes and different economic systems. The reason behind is both the policies are equally important to achieve major and common macroeconomic goals like economic growth (growth rate of GDP) and economic development directly or indirectly through GDP. In case of economic growth and development, fiscal policy can be applied directly and results can be obtained immediately, but monetary can be applied directly for economic growth through decreasing rates and it is difficult to apply monetary policy directly to achieve development goals. It is possible only through decreasing interest rate and its impact on investment, employment and income. Also it will take some time to achieve the development goals. That's why it is always necessary and important to test the effectiveness of fiscal and monetary policy in the economy. In order to analyses the effectiveness of macroeconomic policies on the economy; this study uses Money Supply (M1), Interest rate (R), Government expenditure (G), Taxation (T) and Exchange rates (E) for analysis.In the last few centuries countries across the world have been increasingly engaging with one another in terms of trade. The advent of mass production techniques and discovery of new technology and hence greater demand have opened up several fronts in global trade. Countries which earlier were self-sufficient became reliant on others. Much of the work in economics had an underlying assumption that the nation was a closed economy.Several new models were proposed by various eminent economists like Mundell-Fleming, Trevor Swan and other models widely followed in international macroeconomics. Globalization has only accelerated the process of higher trade between nations. The western world was the first to embrace the concept of open economy. Many Asian countries like South Korea and Singapore adopted the open economy in early 1960s. Asians giants India and China have been relatively late in adopting the open economy model. India freed the control of government over key sectors in the 1990s reforms that had restricted the interaction of India with foreign nations.Opening up of the economy brings in several benefits. However, due to limited governmental control over the functioning of the economy now it becomes difficult for the policy makers to strike a balance between governmental interference and market forces. Due to various factors, the effectiveness of a policy may or may not produce the desired effects. It becomes more important to consider the implications and the behavior of such policy actions. Analyzing the effect of macroeconomic policies under different exchange rate regimes may provide clue towards taking appropriate measures.The impacts of these decisions seem to have profound effect on several key economic parameters and hence their analysis assumes considerable significance. The present paper is structured as follows: Introduction and significance of the study are given in Section 1. …