some of the textbooks address global challenges, especially greenhouse gases and chlorofluorocarbon emissions,but without discussing how dealing with them differs from internalizing externalities that stay within a local or national jurisdiction. There is a wide and perhaps widening gap between the practice of public finance and the standard theory presented in public finance and economics textbooks
yet,policymakers are addressing global challenges.and in doing so, they have benefited from insightful new studies. consider the voluminous literature on global warming,international finance and trade,and global poverty and foreign aid.these contributions are part of the new public finance puzzle.but the questions still to be answered are:what overall picture is emerging? How should the policy responses be interpreted?
answering these questions (done later,when considering the findings of the analyses in the book) requires examining more closely the nature of the global challenges filling today's national and international policy agendas:what makes them global challenges? and why do they increase interdependence among countries?
Identifying the basic categories:global public goods and development
as currently viewed, public finance is expected to help provide public goods and to foster equity. promoting allocative efficiency is the main rationale for government interventions to support public good provision whether financial(subsidies or tax credits) or nonfinancial (regulation). Hence, the public goods-oriented branch of public finance is referred to as the efficiency or allocation branch,with a focus on issues and on particalar goods.
The equity or distribution branch of public finance, seen to support society
in realizing its goals of fairness and justice, may sometimes have to achieve its objectives through income redistribution and transfer payments. Its main focus is on actors,mainly group of vulnerable actors such as poor people or people with disabilities.
the global issues on today's policy agendas can be grouped by these same two broad categories of public finance deliverbles:global public goods and gloval equity in development. what is important to know about these two sets of concerns in the context of the book? we look first at global public goods and then at development
Global public goods: links to globalization and the required production path
Global public goods, a special class of public goods, share with all other public goods the basic characteristic of being public in consumption available for all to consume because they are goods in the public domain. some of these goods are"naturally"global and public the moonlight or the warming rays of the sun,
some of the textbooks address global challenges, especially greenhouse gases and chlorofluorocarbon emissions,but without discussing how dealing with them differs from internalizing externalities that stay within a local or national jurisdiction. There is a wide and perhaps widening gap between the practice of public finance and the standard theory presented in public finance and economics textbooks
yet,policymakers are addressing global challenges.and in doing so, they have benefited from insightful new studies. consider the voluminous literature on global warming,international finance and trade,and global poverty and foreign aid.these contributions are part of the new public finance puzzle.but the questions still to be answered are:what overall picture is emerging? How should the policy responses be interpreted?
answering these questions (done later,when considering the findings of the analyses in the book) requires examining more closely the nature of the global challenges filling today's national and international policy agendas:what makes them global challenges? and why do they increase interdependence among countries?
Identifying the basic categories:global public goods and development
as currently viewed, public finance is expected to help provide public goods and to foster equity. promoting allocative efficiency is the main rationale for government interventions to support public good provision whether financial(subsidies or tax credits) or nonfinancial (regulation). Hence, the public goods-oriented branch of public finance is referred to as the efficiency or allocation branch,with a focus on issues and on particalar goods.
The equity or distribution branch of public finance, seen to support society
in realizing its goals of fairness and justice, may sometimes have to achieve its objectives through income redistribution and transfer payments. Its main focus is on actors,mainly group of vulnerable actors such as poor people or people with disabilities.
the global issues on today's policy agendas can be grouped by these same two broad categories of public finance deliverbles:global public goods and gloval equity in development. what is important to know about these two sets of concerns in the context of the book? we look first at global public goods and then at development
Global public goods: links to globalization and the required production path
Global public goods, a special class of public goods, share with all other public goods the basic characteristic of being public in consumption available for all to consume because they are goods in the public domain. some of these goods are"naturally"global and public the moonlight or the warming rays of the sun,
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