Fiscal Policy Transition: From Active to Prudent

Author: Xia Jiechang
Publisher:
Publish Date: 2006-05-01
Features: This book starts with an analysis of the theory and practice of fiscal policy cycle replacement, as well as the background of China's implementation of active fiscal policy. Based on a wealth of data and materials, it employs econometric and institutional economic analysis methods to comprehensively demonstrate the effects and shortcomings of active fiscal policy over the past few years. It analyzes and designs the conditions, necessity, and pathways for the gradual phasing out of active fiscal policy, as well as the transition from active fiscal policy to a prudent fiscal policy. The book systematically elaborates on how, after the phasing out of active fiscal policy, effective medium- and long-term policies—guided by public finance theory and the construction of a harmonious society—can be implemented, including medium- and long-term government bond investment policies, tax policies, income distribution policies, and proactive employment policies.