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European Fiscal Capacity and New Own Resources: Proposals and Scenarios

Author

Listed:
  • Olimpia Fontana

    (Mario Albertini Fellow at Centro Studi sul Federalismo, Torino, Italy)

  • Luca Gasbarro

    (Chartered accountant junior partner at Studio Legale e Tributario Fantozzi & Associati)

Abstract

This paper contributes from an economic point of view to the idea of a Next Generation Africa financed by the EU’s allocation of SDRs. The first part considers the macroeconomic framework for African countries at an aggregate level, especially after the outbreak of the pandemic. The second part provides an approximate estimate of the impact of Next Generation Africa on aggregate economic growth and on the financing needs of the African continent’s basic infrastructure. Other long-term dimensions of a strategic partnership with Africa are also discussed. The paper strongly confirms the need and opportunity, on both sides of the partnership, for Next Generation Africa.

Suggested Citation

  • Olimpia Fontana & Luca Gasbarro, 2022. "European Fiscal Capacity and New Own Resources: Proposals and Scenarios," Research Papers 264, Fondazione Centro Studi sul Federalismo.
    • Handle: RePEc:azz:rpaper:264
    as

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    File URL: https://www.csfederalismo.it/images/Research_paper/CSF-RP_Fiscal-Capacity-Own-Resources_O.Fontana-L.Gasbarro_June2021.pdf
    File Function: Final version, 2022
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    More about this item

    Keywords

    fiscal capacity; European own resources; Next generation EU; stabilization function; European public goods; carbon tax; tax avoidance; financial transactions tax;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F38 - International Economics - - International Finance - - - International Financial Policy: Financial Transactions Tax; Capital Controls
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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