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Instruments and management of public revenue

In: Research Handbook on Public Financial Management

Author

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  • Justin M. Ross

Abstract

Providing public goods and services requires extractions from the productive private economy for financing. The government provides things of value to its citizens, but in order to provide them must sacrifice those citizens’ production and consumption in the private sphere to some degree. Public revenue management involves understanding and selecting revenue instruments in order to best satisfy citizen desires for goods and services produced in both the public and private sectors. This chapter begins by reviewing the normative economic theory of instrument choice which is rooted in maximizing citizen welfare against the constraints of needing to extract revenues. The cost of these extractions are distortions in the behavior of the individuals who must pay the tax. It then reviews what might be considered “organizational” considerations, but which have produced several indicators for tax revenue instruments that have merged in recent years, along with an associated literature that adopts them for evaluating systems.

Suggested Citation

  • Justin M. Ross, 2023. "Instruments and management of public revenue," Chapters, in: Komla Dzigbede & W. B. Hildreth (ed.), Research Handbook on Public Financial Management, chapter 12, pages 226-236, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20388_12
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    File URL: https://www.elgaronline.com/doi/10.4337/9781800379718.00024
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