This paper sets out to examine the impact of the fiscal contract system on economic growth in China's different provinces. Empirical testing is conducted using the error components model and pooled cross-section (provinces) and time-series data from 1989 to 1993. The empirical results for the whole sample show an inclination towards convergence of regional economic growth, with any increase in regional tax revenue hindering investment and employment due to excessive taxation, which is unfavorable to economic growth. The same finding applies to extra-budgetary revenue. Ranked by their overall strength, the provinces are divided into economically advanced and backward groups for empirical testing. Comparison of the empirical results using a sample of the top and bottom fifteen, in terms o...
... being mainly financing government expenditure, the distribution of government revenues, raising ...
A technicality in the state's accounting practices may spell doom for the proposed redevelopment of State Center, a massive, mixed- use project in Baltimore for which the state has yet to propose a viable financing plan. Maryland Treasurer Nancy K. Kopp is expected to release a report Friday produced by her office that will determine whether the project will be considered a capital expenditure or an operating expenditure under the state's budgetary accounting definitions. If State Center is deemed a capital expense, the project will have to remain within the Maryland's capital debt affordability limit, and funds for the redevelopment will have to come from the state's already-stressed capital budget.
I am saying categorically that there is no information on that regard," Dr. [Peter Phillips], who was responding to questions on his Ministry's budgetary allocation in the 2004/2005 Estimates of Expenditure, told the committee. Pointing out that Commissioner of Corrections Major Richard Reese was present, he suggested that the Jamaica Labour Party (JLP) Member of Parlaiment (MP) provide the Correctional Services head with information rather than proceed with laying the `unsubstantiated allegations'. "This is a finance committee," Government MP Sharon Hay-Webster said. Both she and Dr. Phillips complained that Ms. Grange's comment's were an abuse of her parliamentary privilege.
...) The commission shall examine the state budgetary process, the revenue needs and expenditure process...
... event must substitute the extra expenditure they make on this activity for expenditure on othe... the effect the event has on their own budgetary position, and, in the case of a national governmen...
Professor Ott has invited me to join her in this volume and I am happy to contribute this note. I take this opportunity to reopen that treasure box of ideas which have shaped the development of "Public Finance" and my vision of what the field should be about. Seen against this background, I then take a retrospective look at my three branch model and some of the problems which it poses, problems also related to the theme of this volume.
...Wicksell suggested that tax-expenditure voting be used to secure preference revelation, an... the level of expenditure, revenue and budgetary balance, emerged as the key instrument of anti-dep...
Although the Chinese economy has experienced a strong and rapid growth due to the success of its economic reform, the Chinese central government faces a stern fiscal decline. The fiscal problem has undermined the ability of the central government in completing many crucial governing tasks. By examining the institutional root of the fiscal problem, this paper argues that the fiscal decline is part of the ironic corollary of the decentralization strategy of China's economic reform which produces a "weak center, strong local" outcome. To fully address the problem, China should undertake major institutional reforms to redefine as well as institutionalize the fiscal roles of different levels of government.
...In terms of percentage of public expenditure, in 1991, the deficit accounted for only 7% of its...This has a serious budgetary implication for all subnational governments as it ...
..., they will be forced to undertake budgetary cuts in the next years. Developed countries will i... will require cuts in government expenditure, leading to a trade-off between different componen...
... Negative Outlook reflects the continued budgetary challenges facing the county as a result of rising... budgetary balance through ongoing expenditure reductions or revenue increases as well as delays ...
....1 The increase in government expenditures associated with these two storms reached US$50 mil... would be to implement an annual budgetary allocation to provide for natural disaster expendi...
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