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Government versus Markets: The Changing Economic Role of the State

Author

Listed:
  • Tanzi, Vito

    (International Institute of Public Finance (IIPF))

Abstract

The book “Government versus Markets: The Changing Economic Role of the State” is the first comprehensive treatment available in the literature of the economic role of the state in a historical and world perspective. It addresses the fundamental question of what governments should do, or have attempted to do, in economic activities in past and recent periods. It also speculates on what they are likely or may be forced to do in future years. Although other recent titles in economics deal with normative theories, public choice theories, welfare state analysis, social protection, and the like, no other book has the same breadth or depth specifically on the state’s viable economic role. The author’s knowledge of several languages has allowed him to draw from different and often inaccessible previous publications. The investigation assembles a large set of statistical information that should prove useful to scholars and policy makers in the perennial discussion of government’s optimal economic roles. It will become an essential reference work on the analytical borders between the market and the state and on what a reasonable “exit strategy” from the current fiscal crises should be. The first chapter of the book excerpts from which are published here gives the general outlook of the problem of the role of government in present world situation and in the foreseeable future. The author argues that the most probable development would be decrease of the role of government spending and taxation and the shift of focus of government policy to regulation and targeted public assistance.

Suggested Citation

  • Tanzi, Vito, 2017. "Government versus Markets: The Changing Economic Role of the State," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 134-165, February.
  • Handle: RePEc:rnp:ecopol:ep1706
    as

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    File URL: ftp://w82.ranepa.ru/rnp/ecopol/ep1706.pdf
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    References listed on IDEAS

    as
    1. S. Dellavigna., 2011. "Psychology and Economics: Evidence from the Field," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 5.
    2. Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65, pages 135-135.
    3. Vito Tanzi, 1998. "Corruption Around the World: Causes, Consequences, Scope, and Cures," IMF Staff Papers, Palgrave Macmillan, vol. 45(4), pages 559-594, December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    economic role of the state; public expenditure; taxation; public debt; fiscal crisis; market failure; behavioral economics;

    JEL classification:

    • H1 - Public Economics - - Structure and Scope of Government
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • H5 - Public Economics - - National Government Expenditures and Related Policies

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