Fiscal Policy for Inclusive Growth: An Overview

Estrada, Gemma; Lee, Sang-Hyop; Park, Donghyun

doi:10.2139/ssrn.2558932

Cited by 8 publications

(9 citation statements)

References 27 publications

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“…By attaining education, poor workers increase the income of their households. Government, thus, plays a very serious role by providing decent lives to poor by making expenditures on schooling, high professional education, hospitals and nursing homes (Estrada et al , 2014).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Health expenditures narrow down the health gaps between rich and poor as poor people are less healthy than rich people because they do not have access to better health. Government can make contribution in providing equal health opportunities to all by spending on health-related facilities (Estrada et al , 2014). Warr (2003) also suggested that only pro-poor fiscal allocation can play a significant role in reducing poverty and inequality.…”

Section: Literature Reviewmentioning

confidence: 99%

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Fiscal policy, institutions and inclusive growth: evidence from the developing Asian countries

Sabir

Qamar

2019

IJSE

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Purpose The purpose of this paper is to examine the impact of fiscal policy and institutional quality on the inclusive growth process of the selected developing Asian countries. Inclusive growth is a growth process which ensures that everyone is participating and benefited by growth process. Design/methodology/approach This study uses system generalized method of moment to address the problem of endogeneity and omitted variable bias. Findings Empirical results showed that both fiscal policy and institutions have positive effects on inclusive growth. Our empirical results confirmed that fiscal policy can work more efficiently in the presence of good quality institutions in the developing Asian countries. Research limitations/implications Government should take measures to improve infrastructure, roads and transport system, and main share of government expenditures should be allocated to development, education and health projects. There is a need to transform the tax structure of the countries with the huge emphasis on the progressive tax system and this is likely to benefit the lower segment of the population. There is a need to develop institutions as they serve as a road map for the development of a country. There should be coordination between government policies and institutions. Supervision of fiscal policy through good institutions is needed for the proper allocation and utilization of public resources. Practical implications By restructuring the taxation system subject to the provision of quality institutions, government can incentivize entrepreneurs to make significant investments. This creates jobs for lower segment of a society, brings down poverty and increases the income level of a country. This increases the individual and collective welfare of an economy that ensures the inclusive growth within a country. Originality/value In this study, proxies used for fiscal policy are government expenditures and tax revenues as a percentage of gross domestic product (GDP) to examine its impact on the certain measures of inclusive growth such as employment, income inequality and GDP per capita. This study provides useful insights for the policy makers using fiscal policy to achieve the goal of inclusive growth in developing countries.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Fiscal policy, institutions and inclusive growth: evidence from the developing Asian countries

Sabir

Qamar

2019

IJSE

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“…Untuk menerapkan cash conditional transfer (CCT) secara intensif di Asia, harus dilakukan secara hati-hati sebab pertumbuhan ekonomi di Asia relatif lebih cepat daripada Amerika Latin. Oleh karena itu, berdasarkan temuan Estrada et al (2014), pertumbuhan inklusif harus tetap memperhitungkan kondisi kesinambungan fiskal di negara Asia.…”

Section: Studi Terdahuluunclassified

Implikasi Kebijakan Fiskal Era Orde Baru Dan Era Reformasi dalam Mewujudkan Pertumbuhan Inklusif Di Indonesia

Jamil¹

2020

Preprint

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Kebijakan fiskal di Indonesia dihadapkan pada persoalan pertumbuhan inklusif. Pertumbuhan ekonomi yang tinggi di Era Orde Baru tidak berlanjut di Era Reformasi. Pertumbuhan ekonomi di Era Reformasi cenderung dibarengi dengan tingkat kemiskinan dan penganggguran yang relatif lebih tinggi jika dibandingkan dengan Era Refomasi. Penelitian ini memiliki dua tujuan utama yakni: (i) menguji inklusivitas pertumbuhan ekonomi di Indonesia; dan, (ii) menganalisis perbedaan implikasi kebijakan fiskal Era Orde Baru dan Era Reformasi dalam mewujudkan percepatan pertumbuhan inklusif di Indonesia. Dengan menggunakan metode estimasi parameter 3SLS (Three Stage Least Square), penelitian ini menemukan bahwa pertumbuhan ekonomi di Indonesia selama periode 1981-2016 masih belum inklusif. Temuan ini mengindikasikan bahwa peningkatan aktivitas ekonomi di Indonesia mengarah pada sektor yang bersifat padat modal (capital intensive). Selain itu, penelitian ini menemukan bahwa kebijakan fiskal baik di Era Orde Baru dan Era Reformasi memiliki implikasi yang berbeda dalam mewujudkan pertumbuhan inklusif di Indonesia. Peningkatan pertumbuhan ekonomi bersumber dari belanja kesehatan di Era Orde Baru dan belanja pendidikan di Era Reformasi. Sementara itu, penurunan pengangguran berasal dari belanja infrastruktur di Era Orde Baru.

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“…'Growth is inclusive when it allows all members of a society to participate in and contribute to the growth process on an equal basis …' (Ali and Zhuang, 2007, p. 10). It focuses less on the benefits of growth particularly through tax-funded redistribution (Estrada et al, 2014), and more on the participation in economic processes. Ali and Zhuang's definition is also the one that the Asian Development Bank put forward in its Strategy 2020, and it applies this to various sectors, including human development and infrastructure.…”

Section: From Structural Adjustment and Growth-first To Equalities Anmentioning

confidence: 99%

Inclusive Growth: Beyond Safety Nets?

Haan

2015

Eur J Dev Res

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Debates on inclusive growth have gained popularity within academic, public policy and private sector spheres. This article asks the question whether this has the potential to help move debates and policy beyond a still dominant safety nets paradigm. The emphasis on processes of growth -and hence livelihoods, employment and entrepreneurship -rather than re-distributing the benefits of growth is crucial in this. This reinforces the need to make institutions, formal and informal, an integral part of our understanding of growth, and inform policies that promote growth and inclusion simultaneously.Les débats sur la croissance inclusive ont gagné en popularité au sein des sphères académiques, des politiques publiques, et du secteur privé. Cet article cherche à savoir si cela a le potentiel d'aider les débats et les politiques à aller au-delà d'un paradigme encore dominant qui prône les filets de sécurité. L'accent mis sur les processus de croissance -et donc sur les moyens de subsistance, l'emploi et l'entrepreneuriat -plutôt que sur la re-distribution des bénéfices de la croissance, est crucial dans ce domaine. Cela renforce la nécessité de faire en sorte que les institutions, formelles et informelles, soient une partie intégrante de notre compréhension de la croissance, et d'instituer des politiques qui favorisent simultanément la croissance et l'inclusion.

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Fiscal Policy for Inclusive Growth: An Overview

Cited by 8 publications

References 27 publications

Fiscal policy, institutions and inclusive growth: evidence from the developing Asian countries

Fiscal policy, institutions and inclusive growth: evidence from the developing Asian countries

Implikasi Kebijakan Fiskal Era Orde Baru Dan Era Reformasi dalam Mewujudkan Pertumbuhan Inklusif Di Indonesia

Inclusive Growth: Beyond Safety Nets?

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