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Public Spending and the Political Process

In: Principles of Public Finance

Author

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  • Toshihiro Ihori

    (National Gradual Institute for Policy Studies)

Abstract

In the discussion about public goods, the rationale for public provision is the failure of the market. However, even if the market fails, it does not necessarily mean that the government must provide the goods. For example, if market failure is due to externality, the government may impose a Pigouvian tax and/or subsidy policy to ameliorate the failure. Namely, the government may intervene by using taxes and/or subsidies. The government does not have to provide the public goods; these may be provided by the private sector with appropriate tax and subsidy policies. It is difficult to judge whether the government or the private sector with some indirect intervention should provide impure public goods.

Suggested Citation

  • Toshihiro Ihori, 2017. "Public Spending and the Political Process," Springer Texts in Business and Economics, in: Principles of Public Finance, chapter 12, pages 329-361, Springer.
    • Handle: RePEc:spr:sptchp:978-981-10-2389-7_12
    DOI: 10.1007/978-981-10-2389-7_12
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