Public Finance

Author: Liang Peng
Publisher:
Publish Date: 2004-09-01
Features: Public finance is essentially the finance of a market economy, and its research and analysis of issues start from market failure. The market mechanism is the primary force in resource allocation in a market economy. Only in areas where the market mechanism fails is government intervention necessary, which determines the necessity and scope of public finance. The construction of public finance reflects a significant shift in the government's financial management philosophy, clarifies the role of the government under market economy conditions, and indicates that as China transitions from a planned economy to a market economy, there is an objective need for a radical transformation of the original fiscal operational model. Establishing public finance is essentially the inevitable result of fiscal operational models adapting to market-oriented reforms. Currently, theoretical research on public finance lags significantly behind practice, which is somewhat reflected in the writing of fiscal textbooks. During the writing process of this book, the author strives to adhere to the principle of integrating theory with practice, combining public finance theory with the construction of China's public finance framework and fiscal and tax reform practices, while paying attention to drawing on and absorbing the latest research findings on public finance in the field of fiscal and tax studies. On the basis of introducing theoretical knowledge, we present some new developments in the construction of public finance systems and new situations, challenges, and practical experiences in China's fiscal and tax system reforms in the form of case studies. As one of the core professional courses in higher education for economic management, this book provides a systematic and comprehensive introduction to public finance as an important function of the state or government under the market economy, including the role of finance as a macro-control tool, its theories, and the transition of China's fiscal system to public finance under new circumstances.