Burger, Philippe
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Item-typ:Veröffentlichung, Fiscal sustainability: the origin, development and nature of an ongoing 200-year old debate(2005-03)Since the late 1980s and early 1990s, fiscal sustainability surfaced as an increas- ingly important issue because of the substantial increase in the public debt/GDP ratio in many countries. However, even though the term 'fiscal sustainability' is of relatively recent vintage (the latter quarter of the 20th century), the concerns that lie at its heart, namely the solvency of government and the impact of that solvency (or lack thereof) on the rest of the economy, are not, stretching back several centuries. This paper shows how a two hundred year old debate about these concerns, cloaked in different guises and starting with Adam Smith's critique of Melon, contin- ues to this day. The paper also considers the views of, among other, Ricardo, Mal- thus, Mill, Keynes, Lerner, Domar, Hansen, Blanchard and Ball and Mankiw. The discussion seeks answers to the following questions: What is fiscal sustainability all about? How sustainable are fiscal policies internationally? How did the debate on fiscal sustainability and government solvency evolve? How does fiscal sustainability relate to older debates on government dissaving and the longstanding concern about the size of public debt? In answering these questions the paper indicates that rival interpretations did and still coexist and that the debate is by far not over.BerichtBand:9867 281 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, Optimale Geldpolitik in kleinen offenen Volkswirtschaften - Ein Modell(2003-02); -BerichtBand:8062 55 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, The transformation process in South Africa: What does existing data tell us?(2005-03)This paper makes a closer examination of the economic legacy of Apartheid and the needed reforms to eradicate this legacy. Apartheid left South Africa with a very high structural unemployment rate of between 30 and 40%. In addition, together with Brazil, South Africa has the ominous record of having the worst income distribution in the world. To consider this legacy and the challenges that it poses, the discussion starts with a depiction of the broad characteristics of the South African economy to orientate the reader. Thereafter follows a discussion of the different dimensions of unemployment and the distribution of income in South Africa. The paper indicates that there are racial, gender and spatial dimensions to both unemployment and the distribution of income in South Africa. Lastly, based on the analysis of unemployment and income distribution, the paper argues that the development of African females in rural areas poses the most urgent challenge to government.BerichtBand:9763 81 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, South Africa economic policy: Are we moving towards a welfare state?(2007-07)It has been 13 years since the dawn of democracy in South Africa. Though the country can boast progress on several fronts since 1994, including improved economic performance, a healthier fiscal position and improved delivery of houses, electricity, water and sanitation, it still faces significant discrepancies in the allocation of income, wealth and skills. In addition, poverty and unemployment levels among Blacks, females and those living in rural and ex-homeland areas are very high irrespective of the benchmark used. Service delivery by some local authorities also remains problematic. Since 1994 the government has implemented a wide range of policies to address these challenges. This paper shows that policy developments in South Africa since 1994 can be divided into two phases. The first is the period 1994- 99 that focused on the stabilisation of the economy and the eradication of the fiscal chaos that the new government inherited from its predecessor. The second phase is the still ongoing period that started in 2000. This period saw the significant expansion of the social welfare system. Comparing the two periods, the paper also shows that the economic views of government in the first phase was much more conservative and in line with what the IMF, foreign investors and rating agencies saw as prudent policy. The second phase sees a less conservative stance on issues such as privatisation, the role of human development in growth, as well as the provision of social welfare. The paper considers and contrasts these two phases to consider in what direction policy might be moving and might need to be moving in future.BerichtBand:10473 93