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Fiscal Policy and Equity in Advanced Economies: Lessons for Asia

Author

Listed:
  • Gemma Estrada

    (Economics and Research Department, Asian Development Bank, 6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines)

  • James Angresano

    (Political Economy, College of Idaho, 2112 Cleveland Boulevard, Caldwell, ID 83605, United States)

  • Jo Thori Lind

    (Centre for the Study of Equality, Social Organization, and Performance (ESOP) and Department of Economics, University of Oslo, P.O. Box 1072 Blindern0316 Oslo, Norway)

  • Niku Määttänen

    (Research Institute of the Finnish Economy, Lounrotinkatu 4B Helsinki 120, Finland)

  • William McBride

    (Tax Foundation, National Press Building Leasing, 529 14th Street Northwest #420, Washington, DC 20045, United States)

  • Donghyun Park

    (Economics and Research Department, Asian Development Bank, 6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines)

  • Motohiro Sato

    (Graduate School of Economics,Applied Economics, School of International and Public Policy, Hitotsubashi University, 2-1 Naka, Kunitachi, Tokyo 186-8601, Japan)

  • Karin Svanborg-Sjövall

    (Timbro, Box 3037, 103 61 Stockholm)

Abstract

Advanced economies have a longer history of leveraging fiscal policy to address inequality relative to developing Asia. We examine the country experiences of the Nordic countries, France, Japan, and the US, to draw lessons for developing Asia in its relatively new quest to use fiscal policy to promote inclusive growth. Those experiences suggest that fiscal policy can indeed be an effective tool for inclusive growth as long as it does not compromise fiscal sustainability or economic growth.

Suggested Citation

  • Gemma Estrada & James Angresano & Jo Thori Lind & Niku Määttänen & William McBride & Donghyun Park & Motohiro Sato & Karin Svanborg-Sjövall, 2014. "Fiscal Policy and Equity in Advanced Economies: Lessons for Asia," Economic Growth Centre Working Paper Series 1414, Nanyang Technological University, School of Social Sciences, Economic Growth Centre.
    • Handle: RePEc:nan:wpaper:1414
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    References listed on IDEAS

    as
    1. Andersen, Torben M. & Holmström, Bengt & Honkapohja, Seppo & Korkman, Sixten & Söderström Hans Tson, & Vartiainen, Juhana, . "The Nordic Model. Embracing globalization and sharing risks," ETLA B, The Research Institute of the Finnish Economy, number 232, June.
    2. Bassanini, Andrea & Garnero, Andrea, 2013. "Dismissal protection and worker flows in OECD countries: Evidence from cross-country/cross-industry data," Labour Economics, Elsevier, vol. 21(C), pages 25-41.
    3. Naohiro Ogawa & Sang-Hyop Lee & Rikiya Matsukura & An-Chi Tung & Mun Sim Lai, 2012. "Population aging, economic growth, and intergenerational transfers in Japan: how dire are the prospects?," Chapters, in: Donghyun Park & Sang-Hyop Lee & Andrew Mason (ed.), Aging, Economic Growth, and Old-Age Security in Asia, chapter 8, pages 231-276, Edward Elgar Publishing.
    4. Donghyun Park & Sang-Hyop Lee & Andrew Mason (ed.), 2012. "Aging, Economic Growth, and Old-Age Security in Asia," Books, Edward Elgar Publishing, number 15088.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    fiscal policy; inequality; inclusive growth; advanced countries; developing Asia;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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