Fiscal Policy and Inclusive Growth in Advanced Countries: Their Experience and Implications for Asia

Heshmati, Almas; Kim, Jungsuk; Park, Donghyun

doi:10.2139/ssrn.2558908

Cited by 17 publications

(16 citation statements)

References 19 publications

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“…Studi terdahulu yang membahas kebijakan fiskal dan implikasinya terhadap pertumbuhan inklusif menggunakan benchmarking study. Heshmati et al (2014) misalnya, menggunakan negara anggota OECD sebagai benchmark guna memberikan rekomendasi kebijakan fiskal yang relevan dalam mempromosikan pertumbuhan inklusif di negara Asia. Hasilnya, bantuan pemerintah kepada kaum miskin dan rentan dapat menjadi alat yang efektif untuk mencapai pertumbuhan inklusif di Asia.…”

Section: Studi Terdahuluunclassified

Implikasi Kebijakan Fiskal Era Orde Baru Dan Era Reformasi dalam Mewujudkan Pertumbuhan Inklusif Di Indonesia

Jamil¹

2020

Preprint

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Kebijakan fiskal di Indonesia dihadapkan pada persoalan pertumbuhan inklusif. Pertumbuhan ekonomi yang tinggi di Era Orde Baru tidak berlanjut di Era Reformasi. Pertumbuhan ekonomi di Era Reformasi cenderung dibarengi dengan tingkat kemiskinan dan penganggguran yang relatif lebih tinggi jika dibandingkan dengan Era Refomasi. Penelitian ini memiliki dua tujuan utama yakni: (i) menguji inklusivitas pertumbuhan ekonomi di Indonesia; dan, (ii) menganalisis perbedaan implikasi kebijakan fiskal Era Orde Baru dan Era Reformasi dalam mewujudkan percepatan pertumbuhan inklusif di Indonesia. Dengan menggunakan metode estimasi parameter 3SLS (Three Stage Least Square), penelitian ini menemukan bahwa pertumbuhan ekonomi di Indonesia selama periode 1981-2016 masih belum inklusif. Temuan ini mengindikasikan bahwa peningkatan aktivitas ekonomi di Indonesia mengarah pada sektor yang bersifat padat modal (capital intensive). Selain itu, penelitian ini menemukan bahwa kebijakan fiskal baik di Era Orde Baru dan Era Reformasi memiliki implikasi yang berbeda dalam mewujudkan pertumbuhan inklusif di Indonesia. Peningkatan pertumbuhan ekonomi bersumber dari belanja kesehatan di Era Orde Baru dan belanja pendidikan di Era Reformasi. Sementara itu, penurunan pengangguran berasal dari belanja infrastruktur di Era Orde Baru.

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Section: Studi Terdahuluunclassified

Implikasi Kebijakan Fiskal Era Orde Baru Dan Era Reformasi dalam Mewujudkan Pertumbuhan Inklusif Di Indonesia

Jamil¹

2020

Preprint

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“…In addition to this, innovative approaches, such as the greater use of taxes on property and energy (such as carbon taxes) could also be considered for both advanced and developing economies (International Monetary Fund IMF). The impact that such measures can have on income inequality and GDP growth are mixed, as Heshmati et al (2015) showed in their summary of the effects of different fiscal policy measures (see Table 1). Among fiscal policy options, Bastagli et al (2012) showed that direct income taxes and transfers had a 15% decrease on the Gini index for 25 OECD member countries during the 1985-2005 period.…”

Section: Summary Of Fiscal Policymentioning

confidence: 99%

“…These include, among others: (i) reductions in class sizes, (ii) additional financial and learning support for teachers and students in lower socio-economic areas, (iii) provisions for free nursery schooling, (iv) a renewed emphasis on vocational education, (v) better access to tertiary education loan and grant schemes for lower-income families, and (vi) the offering of provisional spaces for ethnic minorities within certain degree level programs. Such programs are funded through increases in fiscal spending in the education sector through a range of tax policy initiatives, which are detailed above in Table 1 (see Heshmati et al 2015).…”

Section: Educationmentioning

confidence: 99%

A Survey of Inclusive Growth Policy

2019

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Background: Since the latter part of the 20th Century, countries have been particularly challenged by the trade-off that exists between delivering generous welfare provisions and strong economic growth. Such dynamics have stimulated a need to better understand the causes of income inequality so as to better formulate policies that foster inclusive growth and reduce growing concerns surrounding income inequality. Method: Given its ability to succinctly summarize, analyze, and synthesize an extant body of literature from a certain genre of scholastic endeavor, this study utilizes a literature review as its proposed methodological approach. Results: From our assessment of the literature, we identified four key areas that contribute significantly to income inequality in both advanced and developing economies, these include: (i) pursuing skill-biased technological change; (ii) enhancing education systems; (iii) consolidation of globalization; and (iv) reform of the labor market and its relevant institutions. Conclusion: There is no silver bullet to achieving inclusive growth. Any policy manifesto must seek to offer a coordinated policy platform that looks to deal directly with the causes of inequality. In order to do so, consideration should be given to a range of policy areas including fiscal, education, trade liberalization, and labor market reforms.

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“…In fact, in the advanced economies, redistribution of income via progressive taxation and pro-poor public spending has long been one of the main objectives of fiscal policy. [see Heshmati, Kim, and Park (2014)] A number of studies confirm that fiscal policy had a significant pro-equity impact in advanced economies. Bastagli et al (2012) found that, on average, 25 OECD countries experienced a 15% decrease in the Gini index of inequality due to taxes and transfers in 1985-2005.…”

Section: Literature Reviewmentioning

confidence: 99%

Tax Revenue Trends in Latin America and Asia: A Comparative Analysis

Aizenman

Jinjarak

Kim

et al. 2018

Emerging Markets Finance and Trade

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Joshua Aizenman and Yothin Jinjarak acknowledge funding from the Asian Development Bank (ADB). The views herein are entirely those of the authors. They do not necessarily represent the views of the ADB, or the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

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Fiscal Policy and Inclusive Growth in Advanced Countries: Their Experience and Implications for Asia

Cited by 17 publications

References 19 publications

Implikasi Kebijakan Fiskal Era Orde Baru Dan Era Reformasi dalam Mewujudkan Pertumbuhan Inklusif Di Indonesia

Implikasi Kebijakan Fiskal Era Orde Baru Dan Era Reformasi dalam Mewujudkan Pertumbuhan Inklusif Di Indonesia

A Survey of Inclusive Growth Policy

Tax Revenue Trends in Latin America and Asia: A Comparative Analysis

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