Public Spending in the 20th Century: A Global Perspective

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Cambridge University Press, Jun 5, 2000 - Business & Economics - 291 pages
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This book discusses the changing role of government finance in the twentieth century. It documents the enormous increase in government spending throughout the 1900s across all industrialized countries. However, the authors find that the growth of the welfare state over the past thirty-five years has not brought about much additional social and economic welfare. This suggests that public spending in industrialized countries could be much smaller than today without sacrificing important policy objectives. For this to happen, governments need to refocus their role on setting the rules of the game, and the study provides a blueprint of institutional and expenditure policy reform.
 

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Contents

THE GROWTH OF GOVERNMENT SINCE 1870
3
2 THE INTERWAR PERIOD
9
3 THE PERIOD UNTIL 1980
10
4 THE 1980s AND THE 1990s
18
5 THE SYMMETRY OF EXPENDITURE GROWTH
20
6 CONCLUDING REMARKS
22
THE COMPOSITION OF PUBLIC EXPENDITURE
23
1 GOVERNMENT REAL EXPENDITURE
24
3 REDUCING THE ROLE OF THE STATE
139
4 THE IMPLEMENTATION OF REFORMS
143
5 REFORM AND THE GLOBALIZATION OF ECONOMIES
148
6 THE TIME FRAME FOR REFORM
149
7 CONCLUDING REMARKS
151
FISCAL RULES AND INSTITUTIONS
152
2 THE BUDGETARY PROCESS
154
3 FISCAL RULES
157

2 SUBSIDIES AND TRANSFERS
30
3 SOCIAL EXPENDITURE
32
4 INTEREST ON PUBLIC DEBT
45
5 CONCLUDING REMARKS
47
REVENUE DEFICITS AND PUBLIC DEBT
50
1 REVENUE
51
2 DEFICITS
61
3 PUBLIC DEBT AND IMPLICIT LIABILITIES
64
4 CONCLUDING REMARKS
69
GAINS FROM THE GROWTH OF PUBLIC EXPENDITURE
71
HISTORICAL EVIDENCE ON GOVERNMENT PERFORMANCE
73
2 ECONOMIC INDICATORS
77
3 SOCIAL INDICATORS
89
4 CONCLUDING REMARKS
98
THE SIZE OF GOVERNMENT AND ITS PERFORMANCE
99
2 PUBLIC EXPENDITURE PATTERNS
100
3 ECONOMIC PERFORMANCE PUBLIC DEBT AND LABOR MARKET INDICATORS
102
4 SOCIAL INDICATORS
108
5 ENVIRONMENTAL INDICATORS
110
6 DISTRIBUTIONAL AND SOCIAL STABILITY INDICATORS
112
7 GOVERNANCERELATED INDICATORS
115
8 CONCLUDING REMARKS
119
THE EXPERIENCE OF THE NEWLY INDUSTRIALIZED ECONOMIES
120
1 PUBLIC EXPENDITURE PATTERNS IN THE NEWLY INDUSTRIALIZED ECONOMIES
121
2 ECONOMIC AND LABOR MARKET INDICATORS
124
3 SOCIAL AND DISTRIBUTIONAL INDICATORS
127
4 GOVERNANCERELATED INDICATORS
129
5 CONCLUDING REMARKS
130
THE ROLE OF THE STATE AND GOVERNMENT REFORM
131
RETHINKING THE ROLE OF THE STATE
133
2 CHANGING THE POLICY REGIME
136
4 NEW TRENDS IN PUBLIC EXPENDITURE MANAGEMENT
161
5 IMPLEMENTATION AGENCIES
165
6 CORRUPTION AND THE RULE OF LAW
167
7 CONCLUDING REMARKS
170
BLUEPRINT FOR PUBLIC EXPENDITURE REDUCTION
171
2 PRIVATIZING PUBLIC ENTERPRISES SERVICES AND INVESTMENT
174
3 EDUCATION
184
4 PENSION REFORM
190
5 REFORM OF THE HEALTH SECTOR
198
6 SCALING DOWN OTHER INCOME TRANSFER PROGRAMS
202
7 QUASIFISCAL POLICIES
203
8 ACCOUNTING FOR RESOURCE USE
204
9 CONCLUDING REMARKS
206
RECENT EXPERIENCES OF COUNTRIES IN REFORMING THE GOVERNMENT
207
RECENT REFORM EXPERIENCE
209
1 CHANGING THE POLICY REGIME IN NEW ZEALAND
210
2 CHANGING THE POLICY REGIME IN CHILE
213
3 FISCAL REFORM IN OECD COUNTRIES
215
4 FISCAL REFORM IN NEWLY INDUSTRIALIZED COUNTRIES
225
5 CONCLUDING REMARKS
229
FISCAL REFORM IN THE PUBLIC DEBATE
230
2 THE DEBATE ON DEFICIT AND SPENDING LIMITS
234
3 EXPENDITURE POLICIES IN THE PUBLIC DEBATE
237
BETWEEN GLOBALIZATION AND VESTED INTERESTS
241
5 CONCLUDING REMARKS
245
THE FUTURE OF PUBLIC SPENDING
247
BIBLIOGRAPHY
254
AUTHOR INDEX
273
SUBJECT INDEX
278
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About the author (2000)

An economist of international renown, Vito Tanzi served for 20 years as Director of the Fiscal Affairs Department of the International Monetary Fund in Washington, DC with which he was affiliated for nearly three decades. He also taught at George Washington and American Universities. Dr Tanzi is the author of 14 books, including Public Spending in the 20th Century: A Global Perspective (Cambridge University Press, 2000, with Ludger Schuknecht) and Inflation and the Personal Income Tax (Cambridge University Press, 1980) and he has edited 11 other titles with contributions. A former Undersecretary for Economics and Finance of the Italian Government, he was President of the International Institute of Public Finance (IIPF) from 1990 to 1994 and is the IIPF's Honorary President. Dr Tanzi is known for the Tanzi effect, or Olivera-Tanzi effect, which refers to the diminished real value of tax revenues in periods of high inflation due to collection lags. He has served as a consultant to the World Bank, the United Nations, the European Commission, the European Central Bank, the Organization of American States, the Inter-American Development Bank and the Stanford Research Institute. Dr Tanzi received his doctorate in economics from Harvard University in 1967. He holds five honorary degrees.

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