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2.
Front Public Health ; 10: 931135, 2022.
Artigo em Inglês | MEDLINE | ID: mdl-35865240

RESUMO

The repeated outbreak of COVID-19 epidemic has brought a heavy blow to the world economy. Fiscal policy is one of the important macro-control measures to pull the economy out of the quagmire, and it is necessary to study the implementation of fiscal policy under the epidemic. Due to the relatively abundant resources of the Chinese government, this study uses China as the research object to study the orientation of fiscal policy under COVID-19 epidemic. We use fiscal policies and a large amount of macroeconomic data to identify fiscal policy and macroeconomic regulation's dynamic mechanism in China. Our findings indicate a dynamic feedback relationship between expenditure-based and revenue-based fiscal policy tools, output gaps, and deficit scales. Before the global economic crisis, fiscal policy can play a good role in adversely regulating the economy, and the difficulty of adjustment after the crisis has increased significantly. During COVID-19 epidemic, the interaction time between variables related to fiscal policy increased, suggesting that the implementation of fiscal policy during the epidemic should be particularly cautious.


Assuntos
COVID-19 , Política Fiscal , COVID-19/epidemiologia , China/epidemiologia , Retroalimentação , Gastos em Saúde , Humanos
3.
Artigo em Inglês | MEDLINE | ID: mdl-35742578

RESUMO

This article uses the "Green Finance Reform and Innovation Pilot Zone" promulgated in 2017 as an example to construct a quasi-natural experiment and uses the difference-in-difference method to test the impact of the implementation of the "Green Finance Reform and Innovation Pilot Zone" on the green innovation activities. It was found that the policy promotes the quantity and quality of corporate green innovation. The mechanism test showed that policy promotes the R&D investment and expands the credit scale. The study further found that green finance policies enhance the green innovation of enterprises as government environmental regulation is strengthened. Finally, green innovation by state-owned enterprises is more strongly promoted in the pilot green finance reform and innovation zones, and green innovation by enterprises in non-polluting sectors is more sensitive to the policy, with a heterogeneous pattern of policy effects in eastern and non-eastern China. Therefore, green finance policies should be promoted to achieve an effective combination of financial resource allocation and corporate green innovation to promote the construction of ecological civilization.


Assuntos
Política Fiscal , Organizações , China , Regulamentação Governamental
4.
Health Econ ; 31(9): 2050-2071, 2022 09.
Artigo em Inglês | MEDLINE | ID: mdl-35771194

RESUMO

Governments worldwide have issued massive amounts of debt to inject fiscal stimulus during the COVID-19 pandemic. This paper analyzes fiscal responses to an epidemic, in which interactions at work increase the risk of disease and mortality. Fiscal policies, which are designed to borrow against the future and provide transfers to individuals suffering economic hardship, can facilitate consumption smoothing while reduce hours worked and hence mitigate infections. We examine the optimal fiscal policy and characterize the condition under which fiscal policy improves social welfare. We then extend the model analyzing the static and dynamic pecuniary externalities under scale economies-the decrease in labor supply during the epidemic lowers the contemporaneous average wage rate while enhances the post-epidemic workforce health and productivity. We suggest that fiscal policy may not work effectively unless the government coordinates working time, and the optimal size of public debt is affected by production technology and disease severity and transmissibility.


Assuntos
COVID-19/economia , COVID-19/epidemiologia , Política Fiscal , Pandemias/economia , Seguridade Social/economia , COVID-19/prevenção & controle , Eficiência , Humanos , Pandemias/prevenção & controle , Pobreza , Salários e Benefícios , Fatores de Tempo , Fluxo de Trabalho , Recursos Humanos/economia , Carga de Trabalho/economia
5.
Eval Rev ; 46(4): 416-437, 2022 Aug.
Artigo em Inglês | MEDLINE | ID: mdl-35576906

RESUMO

OBJECTIVE: The present study examines the effect of fiscal policies on firm survival for small-and-medium-sized enterprises in the cross-country level firm-level data. RESEARCH DESIGN: A propensity score matching analysis is utilised for the post-COVID-19 period firms by using the World Bank Enterprise Follow-up Surveys for the pandemic period. Small-and-medium-sized enterprises are essential to the economy; firm failures can increase in a pandemic. RESULTS: The obtained findings show that the effect of fiscal policies has an essential effect on small-and-medium-sized enterprises survival in the COVID-19 pandemic period by using a cross-country heterogenous firm-level sample. CONCLUSIONS: In this context, the present study shed new light on the link between COVID-19-related fiscal policies and small-and-medium-sized firm survival in developing countries.


Assuntos
COVID-19 , Política Fiscal , Humanos , Pandemias , Inquéritos e Questionários
6.
Environ Sci Pollut Res Int ; 29(43): 65289-65303, 2022 Sep.
Artigo em Inglês | MEDLINE | ID: mdl-35484459

RESUMO

The COVID-19 issue deteriorated South Africa's already dire economic situation, exacerbated by years of considerable debt increase. The COVID-19 pandemic has disrupted trade to such an extent that some enterprises are barely working at a quarter of their potential. Furthermore, economic agents delay economic decisions while waiting to see how the crisis develops. According to some economists, increased government expenditure will raise GDP enough to keep the country's debt-to-GDP ratio steady and restore fiscal sustainability. We use a panel data model to estimate a fiscal reaction function, which we then apply to historical data to assess the government's prior efforts to maintain or restore budgetary sustainability. We calculate the impact fiscal balance, government expenditure, interest rate, and revenue changes that the government will have to make to restore the country's fiscal stability due to the financial impact of the COVID-19 issue.The findings show that fiscal balance and tax revinue have a significant impact on the economics growth, while government expenditure and corruption reduce the growth of the country.


Assuntos
COVID-19 , Política Fiscal , COVID-19/epidemiologia , Desenvolvimento Econômico , Gastos em Saúde , Humanos , Pandemias
7.
Environ Sci Pollut Res Int ; 29(30): 45665-45682, 2022 Jun.
Artigo em Inglês | MEDLINE | ID: mdl-35147871

RESUMO

The literature review of ample body indicates that the majority of the studies rely on a single proxy, while exploring the determinants of environmental quality, that can produce misleading results. To subdue this exigency, the current study extends the literature by deploying three proxies (carbon dioxide, methane, and nitrous oxide emissions) for assessing the environmental quality. In this context, the current study links macroeconomic policies, economic growth, fossil fuel consumption, and renewable energy consumption with the environmental quality for selected developing countries from 1990 to 2017. The Westerlund cointegration test confirms the long-run association among the variables. The advanced econometric technique reveals the following findings. First, the expansionary monetary and fiscal policies degrade the environmental quality by escalating the ratio of carbon dioxide, methane and nitrous oxide. However, the contractionary fiscal and monetary policies serve as an effective measure to mitigate the detrimental effects of greenhouse gases. Third, gross domestic product and fossil fuels exhibit a positive association with pollution. Fourth, renewable energy enhances the atmospheric quality by disrupting carbon dioxide, methane, and nitrous oxide emissions. The Granger causality test is also employed to confirm the causal relationship between the variables. Based on the results, we claim that macroeconomic policies are highly sensitive to environmental quality; therefore, some important policies are suggested to attain sustainable and green development.


Assuntos
Dióxido de Carbono , Política Fiscal , Dióxido de Carbono/análise , Desenvolvimento Econômico , Combustíveis Fósseis , Metano , Óxido Nitroso , Energia Renovável
8.
Environ Sci Pollut Res Int ; 29(10): 14914-14928, 2022 Feb.
Artigo em Inglês | MEDLINE | ID: mdl-34622412

RESUMO

It is well known that unemployment and environmental degradation are two critical issues across the globe. However, there is an extended dearth of literature that explores the nexus between unemployment and environmental degradation. Kashem and Rahman (Environ. Sci. Pollut. Res. 27(101): 31153-31170, 2020) put forward the Environmental Phillips Curve (EPC) hypothesis, which depicts a negative relationship between unemployment and environmental degradation. This study further explores the validity of the EPC hypothesis in the case of the USA. It also investigates the impact of monetary policy uncertainty (MU), fiscal policy uncertainty (FU), and trade policy uncertainty (TU) on carbon dioxide emissions. To this end, the analysis employs the novel methodology of the dynamic ARDL model. The results document that EPC does not hold in the short run, but it does in the long run. Furthermore, both in the short and long run, MU escalates CO2 emissions, while FU plunges emissions in both the short and long run. Finally, TU does not alter the level of CO2 emissions.


Assuntos
Desenvolvimento Econômico , Política Fiscal , Dióxido de Carbono , Fosforilcolina/análogos & derivados , Políticas , Incerteza
9.
Environ Sci Pollut Res Int ; 29(3): 4363-4374, 2022 Jan.
Artigo em Inglês | MEDLINE | ID: mdl-34406567

RESUMO

This article estimates the ties between green fiscal policies and energy efficiency in COVID-19 era. For this purpose, data envelopment analysis (DEA) approach is considered and applied. The study findings show that green fiscal policies, such as public supports and tax rebates, have significant role in reducing energy poverty of different international countries by advancing energy efficiency. Therefore, a panel data ranging from 2010 to 2020 is used. Our findings indicate that the aggregate degree of green fiscal policies help to decline energy poverty. Renewable energy companies had larger series of net fiscal competence and size efficiency, and their levels of energy efficiency were greater than 0.457%, with the 16% effect of current public supports and 11% effect of taxation rebates supported to diminish energy poverty with 29.7% in different international economies. This is a positive effect by green fiscal policies. The study also presented policy implications suggesting effectively implementing green fiscal policies for more efficient carbon reduction and making climate change supportive for peoples in post COVID-19 period.


Assuntos
Conservação de Recursos Energéticos , Política Fiscal
10.
Environ Sci Pollut Res Int ; 29(5): 7678-7702, 2022 Jan.
Artigo em Inglês | MEDLINE | ID: mdl-34476706

RESUMO

This paper studies the effects of financial development, economic growth, and climate-related financial policies on carbon emissions for G20 countries. The focus is particularly on financial policies implemented to scale up green finance and address climate-related financial risks from 2000 to 2017 and represent this paper's value added. The empirical results obtained by relying on the panel quantile regression approach indicate that the impacts of the different explanatory variables on carbon emission are heterogeneous. Specifically, the effect of the stock of short-term financial policies on carbon emissions is negative, and its effect becomes smaller at higher quantiles. The stock of long-term policies also shows significant negative coefficients, but its impact is stronger for higher quantiles. No significance is reported for the lowest quantile. Financial development contributes to improving environmental quality, and its impact is larger in higher emission countries. Energy consumption increases carbon emissions, with the strongest effects occurring at higher quantiles. Our results also support the validity of the EKC relationship and positive effects of GDP and population on high carbon emissions levels. Estimation results are robust to alternative model specifications and after controlling for the role played by adopting international climate change mitigation policies as proxied by the adoption of the Kyoto Protocol.


Assuntos
Carbono , Política Fiscal , Dióxido de Carbono , Desenvolvimento Econômico , Políticas
11.
Environ Sci Pollut Res Int ; 29(16): 23545-23560, 2022 Apr.
Artigo em Inglês | MEDLINE | ID: mdl-34807388

RESUMO

Recently, China has declared its national objective of becoming carbon neutral by 2060. Hence, mitigating carbon dioxide emissions has become an important agenda of the Chinese government. Against this backdrop, this paper aims to evaluate the effectiveness of pursuing expansionary fiscal and monetary policies on China's carbon dioxide emission figures by using annual frequency data from 1980 to 2018. Accordingly, this study considers the levels of government expenditure and broad money supply as fiscal and monetary policy instruments, respectively. Besides accounting for structural break concerns in the data, the findings from the empirical analysis reveal that there are long-run associations between carbon dioxide emissions, economic growth, and fiscal and monetary expansion in China. Moreover, the results also show that in both the short- and long-run expansionary fiscal policy trigger higher carbon dioxide emissions while expansionary monetary policy inhibits the carbon dioxide emission figures of China. Furthermore, the results invalidate the existence of the Environmental Kuznets Curve hypothesis since the relationship between China's economic growth and carbon dioxide emissions is evidenced to portray an N-shape. In line with these findings, it is recommended that China achieve environmentally sustainable economic growth by aligning the national fiscal and monetary policies with the 2060 carbon-neutrality objective.


Assuntos
Desenvolvimento Econômico , Política Fiscal , Dióxido de Carbono/análise , China , Política Ambiental
12.
Environ Sci Pollut Res Int ; 29(16): 23001-23014, 2022 Apr.
Artigo em Inglês | MEDLINE | ID: mdl-34797543

RESUMO

This study explores the impact of fiscal policy on environmental pollution, employing the vector autoregressive (VAR) model on annual data from 1976 to 2018 in Pakistan. We estimate the effect of total expenditure, total revenue, education expenditures, health expenditures, and other dynamic determinants such as gross domestic product (GDP), private investment, market rate, and crude oil price on carbon dioxide (CO2) emissions in particular. Further, this study creates impulse response functions to check the fiscal shocks, coordinating with five scenarios of public expenditures, segregated into government revenue, and education and health expenditures. The outcomes indicate that government spending in the public sectors (education and health) had a diminishing effect on CO2 emissions, whereas government revenue that was collected from taxes improved economic growth but at a cost of environmental pollution. In Pakistan, a fiscal policy scenario has been implemented that increases government expenditures to alleviate the effects of CO2 emissions. Therefore, policymakers should provide the right direction for the feasible distribution of resources in every public sector through a powerful structure, which will ultimately reduce the overall level of environmental deficit.


Assuntos
Política Fiscal , Dióxido de Carbono/análise , Desenvolvimento Econômico , Poluição Ambiental/análise , Produto Interno Bruto , Gastos em Saúde , Paquistão
13.
Environ Sci Pollut Res Int ; 29(2): 2523-2538, 2022 Jan.
Artigo em Inglês | MEDLINE | ID: mdl-34374013

RESUMO

The ecological footprint attempts to quantify human impact on nature and its resources necessary to satisfy human needs. This research study explores the long-run implications of fiscal policy on the ecological footprint in Pakistan empirically, keeping different socio-economic factors into consideration. Per annum, time series data have been collected between 1976 and 2018, and the ARDL model is applied to investigate this long-run and short-run association. The conclusion of ARDL model shows that a 1% increase in public development expenditures, total population, GDP, and energy consumption increase 0.19, 2.17, 1.16, and 2.17% ecological footprint, respectively, in Pakistan between 1976 and 2018 vice versa. However, it is also derived that a 1% increase in public tax and non-tax revenue and current public expenditures (in health, education, and other social sectors) shrink 0.36 and 0.013% ecological footprint in the long run in Pakistan. For policy implications, these results focus on practical fiscal policy significance to achieve environmental targets in Pakistan, suggesting an increase in public current expenditures in public and social sectors and increasing public revenue by expanding the tax base, which will ultimately reduce ecological footprint in the long run in Pakistan.


Assuntos
Desenvolvimento Econômico , Política Fiscal , Dióxido de Carbono/análise , Humanos , Paquistão
14.
Geneva; World Health Organization; 2022.
em Inglês | WHO IRIS | ID: who-355965
15.
PLoS One ; 16(12): e0259314, 2021.
Artigo em Inglês | MEDLINE | ID: mdl-34855772

RESUMO

The decades before 1990 were dramatic for Latin American economies. However, from 1990 onwards, a set of policies followed by the various states in the region acheived economic stabilization with real income recovery. The attribution of this success has been disputed by politicians, economists and officials from international economic support institutions. This work will analyze the responsibility for this success in 4 economies in the region (Brazil, Colombia, Mexico and Peru). Through the combined analysis of ARDL, Markov states and structural breaks, we highlight different sources of responsibility in different periods. Additionally, detailing the states of each regime, we verify the duration of the regimes related to inflation rates and to interest rates in the region. We identify specific governments as associated with moments of economic stabilization in the region, so the hypothesis of the political cycle cannot be rejected for the set of results achieved. As policy implication, we claim that Taylor rules are endogenous to Political Budget Cycles and so stabilization plans are restricted to political tenures.


Assuntos
Política Fiscal , Política , Brasil , Colômbia , Desenvolvimento Econômico , Produto Interno Bruto , Inflação/estatística & dados numéricos , Inflação/tendências , México , Modelos Econômicos , Peru , Fatores de Tempo
16.
PLoS One ; 16(12): e0261311, 2021.
Artigo em Inglês | MEDLINE | ID: mdl-34910790

RESUMO

The paper takes listed companies in the heavily polluting industry from 2009-2017 as a research sample to explore whether heavy pollution enterprises' environmental protection investment helps their debt financing under the institutional background of China's continuous implementation of green credit policy. It is found that, in general, the environmental protection investment of heavy pollution enterprises helps them to obtain more and relatively long-term new loans; in terms of time, this effect is more evident after the release of China's Green Credit Guidelines in 2012; in addition, the level of regional environmental pollution, the level of financial development and the green fiscal policy also have a moderating effect on this. This paper enriches the study of the economic consequences of corporate environmental protection investment from the perspective of debt financing. It examines the effects of the implementation of China's green credit policy and other institutional factors to provide a reference for the heavy pollution enterprises' environmental protection investment and the implementation of green credit policy by local governments in China.


Assuntos
Conservação dos Recursos Naturais/métodos , Poluição Ambiental/economia , Poluição Ambiental/prevenção & controle , China , Política Ambiental/economia , Política Ambiental/legislação & jurisprudência , Poluentes Ambientais/efeitos adversos , Política Fiscal , Programas Governamentais/economia , Programas Governamentais/tendências , Indústrias/legislação & jurisprudência , Investimentos em Saúde , Organizações
18.
BMC Med ; 19(1): 310, 2021 11 30.
Artigo em Inglês | MEDLINE | ID: mdl-34844596

RESUMO

BACKGROUND: We developed an integrated model called Microsimulation for Income and Child Health (MICH) that provides a tool for analysing the prospective effects of fiscal policies on childhood health in European countries. The aim of this first MICH study is to evaluate the impact of alternative fiscal policies on childhood overweight and obesity in Italy. METHODS: MICH model is composed of three integrated modules. Firstly, module 1 (M1) simulates the effects of fiscal policies on disposable household income using the tax-benefit microsimulation program EUROMOD fed with the Italian EU-SILC 2010 data. Secondly, module 2 (M2) exploits data provided by the Italian birth cohort called Nascita e Infanzia: gli Effetti dell'Ambiente (NINFEA), translated as Birth and Childhood: the Effects of the Environment study, and runs a series of concatenated regressions in order to estimate the prospective effects of income on child body mass index (BMI) at different ages. Finally, module 3 (M3) uses dynamic microsimulation techniques that combine the population structure and incomes obtained by M1, with regression model specifications and estimated effect sizes provided by M2, projecting BMI distributions according to the simulated policy scenarios. RESULTS: Both universal benefits, such as universal basic income (BI), and targeted interventions, such as child benefit (CB) for poorer households, have a significant effect on childhood overweight, with a prevalence ratio (PR) in 10-year-old children-in comparison with the baseline fiscal system-of 0.88 (95%CI 0.82-0.93) and 0.89 (95%CI 0.83-0.94), respectively. The impact of the fiscal reforms was even larger for child obesity, reaching a PR of 0.67 (95%CI 0·50-0.83) for the simulated BI and 0.64 (95%CI 0.44-0.84) for CB at the same age. While both types of policies show similar effects, the estimated costs for a 1% prevalence reduction in overweight and obesity with respect to the baseline scenario is much lower with a more focalised benefit policy than with universal ones. CONCLUSIONS: Our results show that fiscal policies can have a strong impact on childhood health conditions. Focalised interventions that increase family income, especially in the most vulnerable populations, can help to prevent child overweight and obesity. Robust microsimulation models to forecast the effects of fiscal policies on health should be considered as one of the instruments to reach the Health in All Policies (HiAP) goals.


Assuntos
Política Fiscal , Obesidade Pediátrica , Índice de Massa Corporal , Criança , Saúde da Criança , Europa (Continente) , Política de Saúde , Humanos , Sobrepeso , Obesidade Pediátrica/epidemiologia , Obesidade Pediátrica/prevenção & controle , Prevalência
19.
PLoS One ; 16(11): e0259452, 2021.
Artigo em Inglês | MEDLINE | ID: mdl-34748594

RESUMO

The pressure upon local governments to redeem their debt could affect government fiscal ability. It could consequently affect their fiscal policies on corporations, which might distort corporate innovation. Based on the data of Chinese Shanghai and Shenzhen A-share listed companies and the local government implicit short-term debt financed by local government financing vehicles (LGFVs) in 31 provinces, this paper shows that local government debt (LGD) negatively affects corporate R&D investment in China, thereby suggesting a strong crowding-out effect. The crowding-out effect is more pronounced when the firm is a non-state-owned enterprise (NSOE), the firm's size is small, the firm's age is young, or the firm is in the lower market competition. This paper provide evidence by interacting the terms that local government actions, such as consumption of fiscal resources, strengthening tax collection efforts, or consumption of credit resources, might partially account for the crowding-out effect. This study illustrates the innovation costs of local government debt.


Assuntos
Comércio/organização & administração , Criatividade , Financiamento Governamental/economia , Política Fiscal , Investimentos em Saúde/economia , Governo Local , China , Financiamento Governamental/métodos , Humanos
20.
Environ Sci Pollut Res Int ; 28(46): 65116-65126, 2021 Dec.
Artigo em Inglês | MEDLINE | ID: mdl-34231149

RESUMO

This study aims to re-examine the impacts of monetary and fiscal policy on environmental quality in ASEAN countries from 1990 to 2019. We utilized the panel and time series NARDL approach to explore the long-run and short-run estimates at a regional level and country level. ASEAN regional-wise analysis shows that contractionary monetary policy reduces the CO2 emissions, while expansionary monetary policy enhances CO2 emissions in the long run. The long-run coefficient further confirms that expansionary fiscal policy mitigates CO2 emissions in ASEAN. The impact of expansionary monetary and fiscal policy on CO2 emissions is positive and significant, while contractionary monetary and fiscal policy have an insignificant impact on CO2 emissions in the short run. ASEAN country-wise analysis also reported the country-specific estimates for the short and long run. Some policies can redesign in light of these novel findings in ASEAN economies.


Assuntos
Desenvolvimento Econômico , Política Fiscal , Dióxido de Carbono/análise , Poluição Ambiental/análise , Poluição Ambiental/prevenção & controle , Políticas
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