Increase In Government Spending Research Articles

Secure medical sensor monitoring framework using novel hybrid encryption algorithm driven by internet of things

The Internet of Things (IoT) makes intelligent identification and management possible by enabling all items to connect to the Internet and exchange data through various new technologies. In recent years, it has been noted that life expectations throughout the globe have gradually increased, which has caused the population of older people to often grow. An unstable environment has been created by a rise in the population of seniors, understaffing in medical facilities, and increased government spending on healthcare. This environment could ultimately result in the financial collapse of government healthcare programs and lower standards of care for all people. It is challenging for hospitals to care for all of the patients since patient numbers have virtually doubled every four decades. A significant societal concern is ensuring that patients have a decent quality of life. To continuously monitor a patient’s physiological characteristics using sensors on the patient’s body, healthcare monitoring systems are increasingly important nowadays. This technology can continuously check physiological data every 10 s. Nodes with sensors may measure things like blood pressure, body temperature, heart rate, and ECG signals. Let’s use some pre-processing methods once the sensor data has been collected to eliminate duplicates, mistakes (outliers), and missing values. With the support of a creative technique, this healthcare monitoring system has enabled safe IoT-based communication. The triple protection of improved AES, modified RSA, and revised Paillier encryption would raise the bar for security measures.

How US Fiscal and Monetary Policy affect the GDP of Countries with Fixed and Flexible Exchange Rates: Estimates using Korean Data from 1963 to 2022

The simplest large country IS/LM/BP model (Mundell-Fleming Model) predicts that an increase in Government spending in the US would cause an increase in Gross Domestic Product (GDP) for countries with flexible exchange rate regimes and decreases in GDP for countries with fixed exchange rate regimes. In contrast, increases in the US money supply would cause an increase in GDP for countries with fixed exchange rate regimes and decreases in GDP for countries with flexible exchange rate regimes. This paper uses a solution to the omitted variables problem of regression analysis to estimate the effects of US fiscal and monetary policy on the Republic of Korea using quarterly data. The data splits into two sections: (1) from 1962 through 1997, Korea had a fixed exchange rate regime and (2) from 1998 through 2022, Korea had a flexible exchange rate regime. The empirical results fit the Large Country IS/LM/BP predictions.

Evaluating Fiscal Performance: A Fixed-Effect Panel Threshold Approach to National and Supranational Rules *

Fiscal rules are designed to prevent budget deficits arising from frequent and abrupt changes in countries' fiscal policies. These changes can be attributed to shifts in regional and global economic conditions, as well as short-term decisions made by governments. Recently, the COVID-19 pandemic has led to increased government spending and borrowing, rendering governments more vulnerable. In this context, the implementation of fiscal rules has gained renewed attention. However, to construct a more resilient infrastructure against future crises, it is not only the national fiscal rules that are critical, but also the presence of supranational fiscal rules that can ensure coordination and discipline among countries has become increasingly important. This study, therefore, seeks to analyze the impact of national and supranational fiscal rules on fiscal performance in 31 advanced economies over the period 2000-2020, utilizing the fixed-effect panel threshold model approach. The results indicate that national fiscal rule implementations become effective after a certain threshold level, whereas supranational fiscal rules are effective both below and above a specific debt threshold. This implies that while both types of fiscal rules are effective, supranational rules stand out in terms of their magnitude and their effectiveness even at lower levels of debt. These findings are expected to guide policymakers in evaluating fiscal rule policies and balancing local needs with the achievement of regional objectives.

Does household debt affect the size of the fiscal multiplier?

Abstract Does household debt affect the size of the fiscal multiplier? We investigate the effects of household debt on government spending multipliers using a smooth transition vector autoregression model. Through generalized impulse response functions, we measure whether the effect of government spending on GDP is conditioned by different levels of household debt in Australia, Sweden, and Norway, three countries with high levels of household indebtedness, and in the world’s seven largest economies. Our results indicate that the short-term effects of government spending tend to be higher if fiscal expansion takes place during periods of low household debt. On average, the fiscal multiplier (on impact) is 0.70, 0.61, and 0.79 (percent of GDP) larger when the increase in government spending takes place during periods of low household debt for Australia, Norway, and the United States.

HUBUNGAN GOVERNMENT SIZE DENGAN KESEJAHTERAAN DI INDONESIA: Peran Moderasi Bonus Demografi

People's welfare is one of the important goals in the RPJMN 2020-2045 and the Golden Indonesia Vision 2045. One of the government’s roles in realizing welfare is through fiscal policy in the form of government spending, which is assessed by the ratio of government spending to GDP or government size. This study aims to determine the relationship between government size and welfare, especially the role of demographic dividend in moderating the relationship between government size and welfare using panel data of 34 provinces in Indonesia in 2012-2021 and the Fixed Effect Model (FEM). The results show that an increase in government size reduces GRDP per capita, but the existence of a demographic dividend through a low dependency ratio is able to reduce the negative relationship of non-optimal government spending on GRDP per capita. As for poverty, government size is able to reduce poverty, but the presence of the demographic dividend has not been able to play a role in increasing government spending that is more efficient and targeted for the purpose of poverty alleviation. Furthermore, the diversity of regression results obtained based on Indonesia's sub-regions indicates that there are still inequalities in budget planning, the quantity and quality of human resources especially productive age population, and the availability of jobs.

Anti-inflationary Policy in Russia and Steps for Reducing the Volatility of Inflation

Inflation as a process of monetary depreciation is a debatable issue for many theorists. It is formed under the influence of various reasons: monetary emission, increased government spending, global crises, budget deficit, monopoly of big companies on price determination, trade union monopoly, and others. There are many types of inflation, which are classified depending on a specific feature (the rate of price growth, the nature of the flow, causes, etc.). The paper concludes the need to focus more attention on anti-inflationary policy, while considering not just monetary levers but also non-monetary levers, follow modern trends and look for better mechanisms. The results caused actions of a well-coordinated mechanism of public authorities and their cooperation with credit organizations, the principle of simplicity and publicity, improving financial literacy of the population and considering all available opportunities in the information society. By implementing these steps, the state can more effectively influence to bring about anti-inflationary policy. The materials of scientific research can be useful to specialists in the economic field, scientists, postgraduates, undergraduates.

Public spending and economic growth: Evidence from the Western Balkans

The objective of this study is to examine the relationship between public expenditures, foreign investments, and the growth of the Gross Domestic Product (GDP) for the years 2002-2021 in the countries of the Western Balkans (BB6) and Croatia. The analysis includes data on $2.8 trillion of GDP, $668 billion of public expenditures, and $160 billion of FDI for these states. The methodology used in this study is based on a detailed examination of public expenditures and their impact on the Gross Domestic Product. This article investigates two hypotheses, thoroughly assessing their impact on GDP growth. Through the use of the Ordinary Least Squares (OLS) econometric model, concrete results with over 95% reliability have been obtained. The variables are determined based on multiple regressions for the findings we will obtain based on econometric calculations using the fixed effects, standard deviation, mean, and linear regression models. The findings of this study relate directly to the stated aims and objectives of the publication. The results presented in the study are an essential component of the study's conclusions. We found that some independent factors have a uniform impact on GDP growth, while others have a significant impact on real growth. Also, our findings confirm economic theories that argue that an increase in government spending leads to an increase in GDP. The data show that public investment in the Western Balkans has historically been overlooked, a gap in the literature that our research attempts to fill.

GOVERNMENT'S STRATEGY TO OVERCOME THE IMPACT OF FISCAL AND MONETARY POLICY ON THE INDONESIAN ECONOMY

The government's strategy was previously under pressure to improve the economy, one of which is the implementation of fiscal policy. This is because the Covid-19 pandemic in previous years had an impact on all sectors, especially the financial sector. Now with its fiscal policy adjusting between government revenue and spending. Part of the government's fiscal policy during the pandemic, namely the tax relief program aimed at easing the burden on taxpayers and reorienting the 2020 State Budget to increase government spending. Through in-depth research and analysis of the government's strategy for overcoming the impact of fiscal and monetary policies on the economy, it is hoped that a better understanding of government actions in encouraging inclusive and sustainable economic growth in the Indonesian economy will be provided.

ASSESSMENT OF STATE SUPPORT OF THE ECONOMY IN A CRISIS

In conditions of economic crisis, government agencies often adopt a number of programs in order to stabilize the economic situation in the country. Such measures may include increased government spending, lower tax rates, or financial assistance to certain sectors of the economy. However, in the process of implementing such measures, the state should monitor the effective use of public resources. Therefore, the state audit is necessary to ensure transparency and efficiency of the work of state bodies, as well as to improve the financial results of the state as a whole. In the context of the economic crisis associatedwith the post-pandemic period, geopolitical and geo-economic instability, the role of the state audit in theimplementation of anti-crisis measures becomes even more important.An important aspect of this work is the identification of problems related to the evaluation of the effectiveness of the state audit and the limitations faced by auditors when conducting a state audit.The purpose of this study is to study the role of the state audit in improving the efficiency of the use of funds in the framework of measures to overcome crisis phenomena on the basis of an improved methodology for evaluating effectiveness.The methods of assessing the effectiveness of macroeconomic policy based on the experience of thegovernments of the G7 countries have been studied. The methodology of the process of studying the components of the crisis impact of this policy, including the definition of success criteria, has been developed.Recommendations for improving the anti-crisis strategy in the context of global disasters are proposed. The results of this study remain relevant in the context of the current economic crisis caused by geopolitical tensions.

Estimating tax and government spending multipliers in China

ABSTRACT In recent years, China has implemented unprecedented fiscal policies, prompting crucial questions: are tax cuts effective in stimulating output and is the output effect from tax cuts greater than government spending in developing countries? This article addresses this ambiguity by providing a novel method to identify China’s tax and government spending shocks in a SVAR framework. The results show that both tax cuts and increased government spending positively impact output. The estimated tax multiplier is 2.4 (3.6) after 8 (20) quarters while the government spending multipliers are 0.3 (0.8), suggesting that tax cuts have a greater impact on output than government spending. The results above survive after a set of robustness checks. The findings contribute to the ongoing debate on the effectiveness of fiscal policy tools in developing economies and suggest that targeted tax measures could be a potent instrument for stimulating economic activity.

Higher education in Russia: Facts and figures

Subject. This article focuses on the issues of development of human capital, which is the most valuable resource for any modern State. These issues are directly related to personnel sovereignty, Russia's innovative development and ensuring its national security. Objectives. The article aims to identify the trends in the development of the national institution of higher education in Russia. Methods. For the study, I used general scientific methods of analysis, synthesis, comparison, and forecasting. Results. Based on the study of changes in macroeconomic indicators, the article identifies a trend towards a decrease in interest in higher education due to a number of objective economic reasons that determine the choice of young people in favor of specialized secondary education. Conclusions and Relevance. In the light of the trend of increasing government spending, the analysis of the changes in financial indicators made it possible to draw a conclusion about the general social orientation of national projects and programmes, despite the most difficult conditions for the formation of the federal budget of Russia at present. But a difficult priority problem is a steep increase in the budgetary provision of the quantity and quality of higher education in Russia in the situation of the need to modernize it and maintain a high level of the human development index. The figures, facts, opinions and conclusions presented in the work can be used in the scientific and practical activities of specialists in the field of public finance and demography, as well as in the educational process of higher education.

The Impact of Human Development Variables on Agricultural Growth in Iraq for The Period 1990 - 2022

Despite the importance of agricultural sector in Iraq, the reality indicates the inability of this sector to meet the needs required of it, as the reason for this lies in the fact that it is managed by individuals who do not possess the most basic elements of human development, the study aims to measure and explain the impact of human development variables in raising the agricultural growth rate in Iraq during the period from 1990-2022. In order to apply the quantitative aspect of the study, the agricultural output growth rate was adopted as a dependent variable Y. As for independent variables, they included agricultural capital X1, mechanical technology X2, chemical technology X3, agricultural labor X4 and agricultural education X5, depending on the statically software E-views10 and its tests according to the ordinary least squares method (OLS), the results showed the significance of the variables of capital and chemical technology with a positive effect in agricultural growth rate in short and long terms. The negative significant effect of mechanical technology and labor force appeared only in long term, while agricultural education appeared to have a significant and positive effect in the long term. The most important conclusions were reached was that human resources contribute to the development of agricultural businesses until they are considered the main means of achieving large-scale production. We recommend increasing government spending in the areas of education, training and rehabilitation in rural Iraq, as it enables the population to employ their skills and experience in raising the rate of agricultural growth.

Can passive monetary policy decrease the debt burden?

Large expansionary fiscal measures are often implemented with monetary accommodation during an economic crisis. When a government is highly indebted, and the timing of switching to the conventional regime M (passive fiscal/active monetary policies) is uncertain, a government spending increase in regime F (active fiscal/passive monetary policies) increases government debt. Such regime uncertainty dampens inflation and debt revaluation effects. Also, as regime uncertainty generates a smaller real interest rate decline, debt servicing costs fall less, and tax revenues increase less, than in the fixed regime F. These factors contribute to reversing the debt decline for a spending increase in the fixed regime F. The result holds under adverse supply shocks and potentially higher capital taxes, relevant factors in the post-COVID U.S. economy.

Does climate change drive up government healthcare costs in the European Union?

The continuous growth in average temperature around the world, caused especially by CO2 emissions, generates climate changes significantly impacts not only economic or social domains, but also human health. The previous literature provides evidence of degradation of human health due to climate change and emphasizes pressure on governments to increase government spending on health. The aim of this study is to analyze the impact of climate change, expressed by temperature and CO2 emissions, on healthcare spending in the European Union member states using available data from 2000 to 2020. In addition to prior research, this paper incorporates supplementary control variables such as governance, macroeconomic factors (GDP and inflation) and human development index. To capture the dynamic impact of climate change on healthcare expenditure, we use the Generalized Method of Moments (GMM) technique and the panel VAR Granger causality method. Empirical findings suggest that an increase in temperature and CO2 emissions levels, along with improvements in governance, economic growth, inflation, and human development, contribute to higher healthcare expenditures. Rising temperature and CO2 emissions are directly increasing the health burden on individuals’ health and force governments to enhance health spending. The paper is notable for its comprehensive approach, filling a significant gap in existing literature by combining climate change variables with governance, economic and human development indicators. The study provides policymakers with valuable insights into how climate change and other governance, economic and human factors impact healthcare spending. Global warming appears as a topic directly correlated with the governmental health spending burden and highlights the need for government involvement in mitigating global warming, reducing pollution and gas emissions.

Economic growth and quality of education: Evidence from the national high school exam in Vietnam

This study considers the impact of economic growth on the quality of K-12 education in a transitional country over the 2016–2019 period, utilizing sub-national-level data. The study employs two-stage least squares for the panel-data model, confirming that (i) a one percentage point rise in per capita income increases national test scores in Vietnam by around 0.4–1.83%, and (ii) this nexus is influenced by the quality of institutions and by poverty levels. Notably, we find a non-linear relationship between economic growth and education: economic growth exhibits a U-shaped relationship with English scores, while its association with mathematics scores follows an inverse U-shaped pattern. The current study thus adds to the body of evidence supporting the link between educational quality and economic growth. As a result, policymakers in transitional nations can use the forces of economic growth to advance social objectives, rather than concentrating primarily on changing the educational system through increased government spending. In order to maximize the benefits of economic growth for the education system, the government policies should focus on assuring institutional quality improvement and multidimensional poverty reduction.

The Main Issues and Countermeasures Facing the Global Economy after the Relaxation of Epidemic Control Policies

Due to the COVID-19 epidemic, many countries have taken a number of epidemic prevention and control measures, which have had a huge impact on the global economy. This paper studies the major issues facing the global economy after the relaxation of epidemic control policies, such as economic recession, inflation, debt crisis and energy crisis, and countermeasures. In this paper, corresponding countermeasures are proposed to address economic recession, including increasing government spending, reducing taxes, lowering interest rates, and increasing the money supply and to address the inflation, including reducing government spending, increasing taxes, raising interest rates, and reducing the money supply. In response to the debt crisis, corresponding countermeasures have been proposed from the aspects of strengthening government supervision, adjusting government expenditures, tax rates, interest rates, and money supply. In the light of the energy crisis, this paper puts forward corresponding countermeasures from aspects of improving energy utilization efficiency, reducing energy consumption, developing green energy that can replace traditional energy, and strengthening the supervision of the energy market.

The Labour Share, Government Expenditure and Income Inequality of Post-Soviet Countries

This study analyses the influence of economic growth on inequality, concentrating on the role of governments as mediators. The period studied is from 2000 to 2020, encompassing 11 post-Soviet countries. The primary estimation method used is the two-stage least squares for panel data. Despite the differences in the economic and political systems at the current development stage, the post-Soviet countries share a common pattern in terms of the relationship between economic growth, the labour income share and the level of inequality, which we first show in this article. Government expenditure has the potential to reduce inequality. However, its effectiveness depends largely on government efficiency and the development of democratic institutions. Despite the increase in government spending on education, more is needed to reduce income inequality. Increased economic performance, productivity, and high-quality state institutions are necessary for this change.

Government expenditure and economic growth nexus: How valid is Wagner’s law in the Nigeria situation?

This study specifically aims at verifying if Wagner’s law is consistent with the Nigerian situation by adopting the ARDL method. Findings from the estimation prove that Wagner’s law is a fallacy in Nigerian experience. In contrast, the Keynesian theory of national income is applicable to the economy of Nigeria, as demonstrated by the strong positive impact of government expenditure on economic growth. Equally important, FDI inflows demonstrate a strong positive relationship with the economic growth of Nigeria. Note that Nigeria went into recession recently and is now going through the recovery stage. This, in line with the findings, calls for the adoption of an expansionary fiscal policy in order to stimulate aggregate demand and, by implication, improve output performance in the economy. Most importantly, the increased government spending should be tailored toward viable sectors with close monitoring to avoid diversion of resources through corruption. Efforts should also be made to attract foreign companies to invest in the economy.

Assessing the Fiscal Burden of Obesity in Canada by Applying a Public Economic Framework.

Rising obesity prevalence is a health priority for many governments because of its impact on population health and economic consequences. We sought to estimate the broader consequences of obesity in Canada by applying a government perspective framework that captures lost tax revenues and increased government spending on social benefit programs. An age-specific prevalence-based model was built to quantify the fiscal burden of disease for government attributed to people living with obesity. The model was populated with age-specific wages, employment activity and government benefits received to estimate taxes and transfer costs. A targeted literature search was conducted to identify modifiers of employment status, wages and disability status attributed to people with obesity, and applied to employment and epidemiological projections which enabled us to estimate government costs and tax losses. Government tax revenue and costs attributed to obesity were projected over a 10-year period and discounted at 3%. The fiscal burden of obesity in Canada is estimated at CAD$22,974 million (2021). This figure consists of obesity-attributed revenue losses of CAD$9404 million from direct taxes due to decreased employment activity and CAD$2374 million from indirect tax revenue losses due to reduced consumption taxes. Healthcare costs are estimated at CAD$7881 million annually and disability costs of CAD$3686 million annually. This fiscal burden of disease distributed amongst taxpayers in 2021 is estimated to be CAD$752 per capita. We estimate for every 1% reduction in obesity prevalence, CAD$229.7 million net fiscal gains can be achieved annually. Obesity is associated with substantial clinical and economic burden not only to the healthcare system but also to wider government budgets as demonstrated using fiscal analysis. Reductions in obesity prevalence are likely to have positive fiscal gains for government from reduced spending on public benefits and increased tax revenue attributed to employment changes.

Unraveling the impact of public debt on economic dynamics in Southeast Asia: A vector analysis perspective

This research employs a panel vector model to analyze panel data, examining the relationship between public debt, economic growth, interest rates, consumption, and net exports in Southeast Asia from 1990 to 2020. This quantitative study focuses on vector analysis using secondary data from the World Bank for the specified period. The findings reveal that public or state debt significantly inhibits most economic variables, suggesting a detrimental impact on Southeast Asia. A notable observation is the effect of rising interest rates on net exports, highlighting how increased rates hinder the exports of ASEAN member countries. Contrary to expectations, the analysis indicates that government spending escalates public debt. Furthermore, Southeast Asian consumption appears to bolster exports through international trade agreements. Interestingly, exports are found to increase government spending, implying a contribution to state revenues. A key finding is that economic growth, marked by GDP increases, positively influences all variables in this study, signifying that GDP growth spurs both the monetary and real sectors of the Southeast Asian economy.