Budget Deficits and Debt: A Global Perspective / Edition 1

by Siamack Shojai

Overview

This edited collection is a critical evaluation of the impact of fiscal imbalances on the economy of industrialized and developing countries as prepared by a diverse group of scholars involved in advanced research on public finance. Technical issues, economic consequences and the political economy of budget deficits and government debt are covered in one succinct volume. The work provides a balanced presentation of neo-classical views on measures of government deficits; the budget process and major budgetary legislation in the United States; and the impact of deficits on economic activity, exchange rates, inflation, financial markets, trade balance, and economic growth. It also examines the political economy of government budgets in the OECD, select developing economies, and South Africa.

From the 1950s to the 1980s, economic activity and growth were affected by fiscal imbalances and excessive government activity in many countries. Although many actors have made retrenchment attempts, economic research has not resolved the conflicting arguments about the impact of fiscal imbalances on the global economy. This book provides a balanced presentation of all major issues related to the impact of fiscal activity on the economy.

Product Details

ISBN-13:	9780275957124
Publisher:	Bloomsbury Academic
Publication date:	01/30/1999
Series:	Complex Coding Systems; 3
Edition description:	New Edition
Pages:	208
Product dimensions:	6.14(w) x 9.21(h) x 0.50(d)

About the Author

SIAMACK SHOJAI is Associate Professor and former Chairman of the Economics and Finance Department at Manhattan College. He is the author of Oil Markets in the 1980s: A Decade of Decline (Praeger, 1992) and The New Global Oil Markets (Praeger, 1995).

Table of Contents

Preface
Introduction
Technical Aspects of Budget Deficits
Measures of Budget Deficits and National Debt by Siamack Shojai
The Federal Budget Process in the United States by James M. Suarez
Major Federal Budget Laws of the United States by James L. Chan
A Historical Perspective on the Size of Deficits and Debts in OECD Countries by Anthony D. Apostolides
The Economic Consequences of Budget Deficits
Budget Deficits and Economic Activity by James R. Barth and John M. Wells
Fiscal Imbalances and the Exchange Rates by Siamack Shojai
Do Deficits Matter? A Review of the Deficit and Inflation Debate by Sohrab Abizadeh and Mahmood Yousefi
Budget Deficits and Financial Markets by Bruce Collins
The Twin Deficits: Fiscal Imbalances and Trade Deficits by Hassan Mohammadi and Neil T. Skaggs
Economic Growth and Fiscal Imbalances by Siamack Shojai
The Political Economy of Deficits
The Welfare State and Entitlement: Resisting Retrenchment in the 1990s by Robert C. A. Sorensen
Wherefore a Prudent Fiscal Policy? by Herschel I. Grossman
The Size, Nature, and Causes of Budget Deficits in Developing Countries by James Alm and Raul A. Barreto
The Budget Process and Fiscal Imbalances in South Africa by Ismail Adams
Bibliographical Essay: A Selective Guide to Information Sources by John Gormley
Index

Editorial Reviews

Deals with challenges and new developments in the global economy concerning the fiscal actions of various nations. Part I provides a discussion of technical issues related to budget deficits in the US and in Organization for Economic Cooperation and Development economies. Part II deals with economic consequences of budget deficits, and Part III addresses the political economy of deficits in European, US, and developing economies. Annotation c. by Book News, Inc., Portland, Or.

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