Fiscal Policy And Growth in Developing Asia
Abdon, Arnelyn; Estrada, Gemma B.; Lee, Minsoo; Park, Donghyun | October 2012
Abstract
In this paper we empirically explore the relationship between fiscal policy and economic growth in developing Asia. The region’s overall level of taxes and government spending are substantially lower than those prevailing in advanced economies. Nevertheless, there are conceptual grounds why fiscal policy, including the composition of taxes and government spending, can have a significant effect on growth, as our empirical analysis shows. In line with economic theory, property taxes have a more benign impact on growth than direct taxes, and spending more on education has a sizable positive impact on growth.
Citation
Abdon, Arnelyn; Estrada, Gemma B.; Lee, Minsoo; Park, Donghyun. 2012. Fiscal Policy And Growth in Developing Asia. © Asian Development Bank. http://hdl.handle.net/11540/4209. License: CC BY 3.0 IGO.PDF ISBN
2313-6545
Print ISBN
2313-6537
Keywords
Economic Development
Economic Infrastructure
Economic Policies
Regional Economic Development
Microfinance Programs
Public Finance
Local Financing
Financial Stability
Financial Sector Regulation
Enterprises
Financial aid
Economies in transition
Local Finance
Local Government
Insurance Companies
Banks
Social Equity
Social responsibility of business
Accounting
Personal budgets
Cost and standard of living
Bank accounts
Credit control
Regulatory reform
Banks and banking
Show allCollapse
Citable URI
http://hdl.handle.net/11540/4209Metadata
Show full item recordUsers also downloaded
-
Determinants of Financial Stress in Emerging Market Economies
Park, Cyn-Young; Rogelio V. Mercado, Jr. (Asian Development Bank, 2013-07-15)The global financial crisis of 2008–2009 illustrates how financial turmoil in advanced economies could trigger severe financial stress in emerging markets. Previous studies dealing with financial crises and contagion show the linkages through which financial stress are transmitted from advanced to emerging markets. This paper extends the existing literature on the use of financial stress index (FSI) ...The global financial crisis of 2008–2009 illustrates how financial turmoil in advanced economies could trigger severe financial stress in emerging markets. Previous studies dealing with financial crises and contagion show the linkages through which ... -
Energy EffIciency Improvements In Asia: MacroeconomIc Impacts
Sharma, Deepak; Sandhu, Suwin; Misra, Suchi (Asian Development Bank, 2014-09-15)We examine various macroeconomic impacts of improving energy efficiency in the People’s Republic of China, India, Indonesia, Japan, the Republic of Korea, Malaysia, and Thailand from 2010 to 2050. Energy efficiency policies would have a positive impact on private consumption, government expenditures, and investment and would lead to a significant increase in trade within Asia while reducing trade ...We examine various macroeconomic impacts of improving energy efficiency in the People’s Republic of China, India, Indonesia, Japan, the Republic of Korea, Malaysia, and Thailand from 2010 to 2050. Energy efficiency policies would have a positive impact ... -
Reserve Bank of India’s Policy Dilemmas: Reconciling Policy Goals in Times of Turbulence
Carrasco, Bruno; Mukhopadhyay, Hiranya (Asian Development Bank, 2014-03-15)This paper reviews some of the more critical policy dilemmas facing the Reserve Bank of India (RBI) in its pursuit of inflation stabilization and balanced growth objectives. The challenge in meeting these objectives further increased in the mid-2000s with the advent of large capital flows into the country and with RBI’s role in preserving financial stability. The paper argues, drawing on several ...This paper reviews some of the more critical policy dilemmas facing the Reserve Bank of India (RBI) in its pursuit of inflation stabilization and balanced growth objectives. The challenge in meeting these objectives further increased in the mid-2000s ...