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How should we assess fiscal policies in response to emerging development challenges?

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  • Kakwani, Nanak
  • Son, Hyun H.

Abstract

This paper examines the impact of government fiscal policies on people's living standards. Every government policy generates both winners and losers. This paper aims to address key questions, such as: Who should be considered the losers, and who should be the winners? What guiding principles should be used to determine these groups? How can we identify fiscal policies that will most effectively enhance people's living standards and overall well-being? These are the developmental challenges governments face in both developed and developing countries. Additionally, this paper analyzes relevant tools that can be used to evaluate various components of fiscal systems. Such assessments are essential for formulating fiscal policies that significantly affect people's quality of life. Finally, the paper discusses the challenges associated with assessing fiscal systems.

Suggested Citation

  • Kakwani, Nanak & Son, Hyun H., 2025. "How should we assess fiscal policies in response to emerging development challenges?," China Economic Review, Elsevier, vol. 93(C).
    • Handle: RePEc:eee:chieco:v:93:y:2025:i:c:s1043951x2500135x
    DOI: 10.1016/j.chieco.2025.102477
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    Keywords

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    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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