Fiscal policy transformation (from expansionary 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 strategies for phasing out 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 such as government bond investment, taxation, income distribution, and proactive employment can be implemented under the guidance of public finance theory and the construction of a harmonious society.