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| Kerr, William A.. |
| A truly global recession has not been manifest since the Great Depression of the 1930s. As a result, the multilateral institutions put in place at the end of the Second World War to ensure that a major depression never happened again have not been tested. One of the lessons of the Great Depression was that governments had a major role to play in managing the economy. The use of subsidies to affect economic outcomes was one manifestation of this expanded role. In a recession, sector specific subsidies will likely be requested by firms. Subsidies can distort trade, leading to the potential for beggar thy neighbour subsidy wars. Subsidies will be difficult to discipline in a global recession. |
| Tipo: Journal Article |
Palavras-chave: Beggar thy neighbour; Deficits; Paradox of thrift; Recession; Subsidies; International Relations/Trade. |
| Ano: 2009 |
URL: http://purl.umn.edu/48788 |
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| Tan, Eu Chye. |
| This paper primarily seeks to establish whether long- and short-run relationships prevail between fiscal deficits on one hand and inflation and economic growth on the other in a developing economy such as Malaysia. The Malaysian economy has gained international acclaim as one of the successfully managed. Econometric methodology involving the Johansen cointegration and Granger causality techniques and annual data spanning generally from 1966 through 2003 have been mobilized for the purpose. The empirical results suggest that fiscal deficits could have an inflationary impact on the Malaysian economy as they are being monetized though no long run relationship exists amongst fiscal deficits, money supply and the price level. Fiscal deficits also appear to have... |
| Tipo: Journal Article |
Palavras-chave: Deficits; Growth; Inflation; International Development; E60; H30; H61; H62. |
| Ano: 2006 |
URL: http://purl.umn.edu/50285 |
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