Fiscal Policy and Management in East Asia
9780226386812
9780226387062
Fiscal Policy and Management in East Asia
Managing fiscal policy—the revenues and spending of an individual nation—is among the most challenging tasks facing governments. Wealthy countries are constrained by complex regulation and taxation policies, while developing nations often face high inflation and trade taxes. In this volume, esteemed economists Takatoshi Ito and Andrew K. Rose, along with other leading experts, examine the problems and challenges facing public finance in East Asian developing countries as well as the United States and Japan.
Fiscal Policy and Management in East Asia explores the inefficient tax systems of many developing countries, the relationship between public and private sector economic behavior, and the pressing issue of future obligations that governments have undertaken to provide pensions and health care for their citizens. Featuring both overviews and analyses of the countries discussed, this book will be of value to economists and policymakers seeking to understand fiscal policy in a global context.
Fiscal Policy and Management in East Asia explores the inefficient tax systems of many developing countries, the relationship between public and private sector economic behavior, and the pressing issue of future obligations that governments have undertaken to provide pensions and health care for their citizens. Featuring both overviews and analyses of the countries discussed, this book will be of value to economists and policymakers seeking to understand fiscal policy in a global context.
376 pages | 76 line drawings, 99 tables | 6 x 9 | © 2007
National Bureau of Economic Research East Asia Seminar on Economics
Economics and Business: Business--Business Economics and Management Studies, Economics--Development, Growth, Planning, Economics--Government Finance, Economics--International and Comparative
Reviews
Table of Contents
Acknowledgements
Introduction
Takatoshi Ito and Andrew K. Rose
I. FISCAL SYSTEMS IN DEVELOPING AND DEVELOPED COUNTRIES
1. Puzzling Tax Structures in Developing Countries: A Comparison of Two Alternative Explanations
Roger Gordon and Wei Li
Comment: Francis T. Lui
Comment: Michael M. Alba
II. THE IMPACT OF GOVERNMENT POLICY ON PRIVATE BEHAVIOR
2. The Direct Substitution between Government and Private Consumption in East Asia
Yum K. Kwan
Comment: Kiyoshi Mitsui
Comment: Mario B. Lamberte
3. Measuring the Effectiveness of Fiscal Policy in Korea
Seok-Kyun Hur
Comment: Wei Li
Comment: Yum K. Kwan
4. Income Risk and the Benefits of Social Insurance: Evidence from Indonesia and the United States
Raj Chetty and Adam Looney
Comment: Roger Gordon
Comment: Mario B. Lamberte
III. INTERNATIONAL LONG-RUN SUSTAINABILITY ISSUES
5. Will China Eat Our Lunch or Take Us to Dinner? Simulating the Transition Paths of the United States, the European Union, Japan, and China
Hans Fehr, Sabine Jokisch, and Laurence J. Kotlikoff
Comment: Yasushi Iwamoto
Comment: Cielito F. Habito
6. External Debt, Adjustment, and Growth
Delano P. Villanueva and Robert S. Mariano
Comment: Francis T. Lui
IV. SUSTAINABILITY: COUNTRY ISSUES
7. Australian Government Balance Sheet Management
Wilson Au-Yeung, Jason McDonald, and Amanda Saygh
Comment: Youngsun Koh
Comment: Corrine Ho
8. Dealing with Contingent Liabilities: The Philippines
Gilberto M. Llanto
Comment: Jason McDonald
Comment: Shigeki Kunieda
9. Reforming the Fiscal Management System in Korea
Youngsun Koh
Comment: Gilberto M. Llanto
Comment: Chong-Hyun Nam
10. Population Aging, Fiscal Policies, and National Saving: Predictions for the Korean Economy
Young Jun Chun
Comment: Laurence J. Kotlikoff
Comment: Shigeki Kunieda
11. Sustainability, Debt Management, and Public Policy in Japan
Takero Doi, Toshihiro Ihori, and Kiyoshi Mitsui
Comment: Dante B. Canlas
12. Policy Options for Financing Future Health and Long-Term Care Costs in Japan
Tadashi Fukui and Yasushi Iwamoto
Comment: Epictetus Patalinghug
Comment: Raj Chetty
Contributors
Author Index
Subject Index
Introduction
Takatoshi Ito and Andrew K. Rose
I. FISCAL SYSTEMS IN DEVELOPING AND DEVELOPED COUNTRIES
1. Puzzling Tax Structures in Developing Countries: A Comparison of Two Alternative Explanations
Roger Gordon and Wei Li
Comment: Francis T. Lui
Comment: Michael M. Alba
II. THE IMPACT OF GOVERNMENT POLICY ON PRIVATE BEHAVIOR
2. The Direct Substitution between Government and Private Consumption in East Asia
Yum K. Kwan
Comment: Kiyoshi Mitsui
Comment: Mario B. Lamberte
3. Measuring the Effectiveness of Fiscal Policy in Korea
Seok-Kyun Hur
Comment: Wei Li
Comment: Yum K. Kwan
4. Income Risk and the Benefits of Social Insurance: Evidence from Indonesia and the United States
Raj Chetty and Adam Looney
Comment: Roger Gordon
Comment: Mario B. Lamberte
III. INTERNATIONAL LONG-RUN SUSTAINABILITY ISSUES
5. Will China Eat Our Lunch or Take Us to Dinner? Simulating the Transition Paths of the United States, the European Union, Japan, and China
Hans Fehr, Sabine Jokisch, and Laurence J. Kotlikoff
Comment: Yasushi Iwamoto
Comment: Cielito F. Habito
6. External Debt, Adjustment, and Growth
Delano P. Villanueva and Robert S. Mariano
Comment: Francis T. Lui
IV. SUSTAINABILITY: COUNTRY ISSUES
7. Australian Government Balance Sheet Management
Wilson Au-Yeung, Jason McDonald, and Amanda Saygh
Comment: Youngsun Koh
Comment: Corrine Ho
8. Dealing with Contingent Liabilities: The Philippines
Gilberto M. Llanto
Comment: Jason McDonald
Comment: Shigeki Kunieda
9. Reforming the Fiscal Management System in Korea
Youngsun Koh
Comment: Gilberto M. Llanto
Comment: Chong-Hyun Nam
10. Population Aging, Fiscal Policies, and National Saving: Predictions for the Korean Economy
Young Jun Chun
Comment: Laurence J. Kotlikoff
Comment: Shigeki Kunieda
11. Sustainability, Debt Management, and Public Policy in Japan
Takero Doi, Toshihiro Ihori, and Kiyoshi Mitsui
Comment: Dante B. Canlas
12. Policy Options for Financing Future Health and Long-Term Care Costs in Japan
Tadashi Fukui and Yasushi Iwamoto
Comment: Epictetus Patalinghug
Comment: Raj Chetty
Contributors
Author Index
Subject Index