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Fiscal Policy and Equity in Advanced Economies: Lesssons for Asia

Author

Listed:
  • Gemma ESTRADA

    (Senior Economics Officer, Asian Development Bank)

  • James ANGRESANO

    (Professor of Political Economy, College of Idaho)

  • Jo Thori LIND

    (Professor, University of Oslo)

  • Niku MAATTANEN

    (Research Supervisor, Research Institute of the Finnish Economy)

  • William MCBRIDE

    (Chief Economist, Tax Foundation, Washington DC)

  • Donghyun PARK

    (Principal Economist, Economics and Research Department, Asian Development Bank)

  • Motohiro SATO

    (Professor, Graduate School Economics, Hitotsubashi University)

  • Karin SVANBORG-SJOVALL

    (President of Timbro, Sweden)

Abstract

Advanced economies have a longer history of leveraging fiscal policy to address inequality relative to developing Asia. We examine the country experiences of the Nordic countries, France, Japan, and the US, to draw lessons for developing Asia in its relatively new quest to use fiscal policy to promote inclusive growth. Those experiences suggest that fiscal policy can indeed be an effective tool for inclusive growth as long as it does not compromise fiscal sustainability or economic growth.

Suggested Citation

  • Gemma ESTRADA & James ANGRESANO & Jo Thori LIND & Niku MAATTANEN & William MCBRIDE & Donghyun PARK & Motohiro SATO & Karin SVANBORG-SJOVALL, 2015. "Fiscal Policy and Equity in Advanced Economies: Lesssons for Asia," Working Papers DP-2015-04, Economic Research Institute for ASEAN and East Asia (ERIA).
    • Handle: RePEc:era:wpaper:dp-2015-04
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    References listed on IDEAS

    as
    1. Bassanini, Andrea & Garnero, Andrea, 2013. "Dismissal protection and worker flows in OECD countries: Evidence from cross-country/cross-industry data," Labour Economics, Elsevier, vol. 21(C), pages 25-41.
    2. Naohiro Ogawa & Sang-Hyop Lee & Rikiya Matsukura & An-Chi Tung & Mun Sim Lai, 2012. "Population aging, economic growth, and intergenerational transfers in Japan: how dire are the prospects?," Chapters, in: Donghyun Park & Sang-Hyop Lee & Andrew Mason (ed.), Aging, Economic Growth, and Old-Age Security in Asia, chapter 8, pages 231-276, Edward Elgar Publishing.
    3. Andersen, Torben M. & Holmström, Bengt & Honkapohja, Seppo & Korkman, Sixten & Söderström Hans Tson, & Vartiainen, Juhana, . "The Nordic Model. Embracing globalization and sharing risks," ETLA B, The Research Institute of the Finnish Economy, number 232.
    4. Donghyun Park & Sang-Hyop Lee & Andrew Mason (ed.), 2012. "Aging, Economic Growth, and Old-Age Security in Asia," Books, Edward Elgar Publishing, number 15088.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Fiscal policy; inequality; inclusive growth; advanced countries; developing Asia;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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