|
Fiscal Federalism
As a subfield of public economics, fiscal federalism is concerned with "understanding which functions and instruments are best centralized and which are best placed in the sphere of decentralized levels of government" (Oates, 1999). In other words, it is the study of how competencies (expenditure side) and fiscal instruments (revenue side) are allocated across different (vertical) layers of the administration. An important part of its subject matter is the system of transfer payments or grants by which a central government shares its revenues with lower levels of government. Federal governments use this power to enforce national rules and standards. There are two primary types of transfers, conditional and unconditional. A conditional transfer from a federal body to a province, or other territory, involves a certain set of conditions. If the lower level of government is to receive this type of transfer, it must agree to the spending instructions of the federal government. An examp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decentralization
Decentralization or decentralisation is the process by which the activities of an organization, particularly those regarding planning and decision making, are distributed or delegated away from a central, authoritative location or group. Concepts of decentralization have been applied to group dynamics and management science in private businesses and organizations, political science, law and public administration, economics, money and technology. History The word "''centralisation''" came into use in France in 1794 as the post-French Revolution, Revolution French Directory leadership created a new government structure. The word "''décentralisation''" came into usage in the 1820s. "Centralization" entered written English in the first third of the 1800s; mentions of decentralization also first appear during those years. In the mid-1800s Alexis de Tocqueville, Tocqueville would write that the French Revolution began with "a push towards decentralization...[but became,] in the e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Economics
Public economics ''(or economics of the public sector)'' is the study of government policy through the lens of economic efficiency and equity. Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare. Welfare can be defined in terms of well-being, prosperity, and overall state of being. Public economics provides a framework for thinking about whether or not the government should participate in economic markets and if so to what extent it should do so. Microeconomic theory is utilized to assess whether the private market is likely to provide efficient outcomes in the absence of governmental interference; this study involves the analysis of government taxation and expenditures. This subject encompasses a host of topics notably market failures such as, public goods, externalities and Imperfect Competition, and the creation and implementation of government policy. Broad methods and topics include: * the theory and applic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Full Fiscal Autonomy For Scotland
Full fiscal autonomy (FFA) – also known as devolution max,McLeish reiterates support for devo-max www.holyrood.com, accessed 23 October 2011 devo-max, or fiscal federalism – is a particular form of far-reaching proposed for Scotland and . The term has come to describe a constitutional arrangement in which instead of receiving a from the |
Fiscal Union
Fiscal union is the integration of the fiscal policy of nations or states. In a fiscal union, decisions about the collection and expenditure of taxes are taken by common institutions, shared by the participating governments. A fiscal union does not imply the centralisation of spending and tax decisions at the supranational level. Centralisation of these decisions would open up not only the possibility of inherent risk sharing through the supranational tax and transfer system but also economic stabilisation through debt management at the supranational level. Proper management would reduce the effects of asymmetric shocks that would be shared both with other countries and with future generations. Fiscal union also implies that the debt would be financed not by individual countries but by a common bond. In the European Union, fiscal union has been mooted as a next step forward into deeper European integration but, , remains largely just a proposal. If fiscal union were to happen, natio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Imbalance
Fiscal imbalance is a mismatch in the revenue powers and expenditure responsibilities of a government. In the literature on fiscal federalism, two types of fiscal imbalances are measured: Vertical Fiscal Imbalance and Horizontal Fiscal Imbalance. When the fiscal imbalance is measured between the two levels of government (Center and States or Provinces) it is called Vertical Fiscal Imbalance. When the fiscal imbalance is measured between the governments at the same level it is called Horizontal Fiscal imbalance. This imbalance is also known as regional disparity. While Horizontal Fiscal Imbalance requires equalization transfers, Vertical Fiscal Imbalance is a structural issue and thus needs to be corrected by reassignment of revenue and expenditure responsibilities between the two senior order of the governments. Horizontal Fiscal Imbalances as Differences in Net Fiscal Benefits A horizontal fiscal imbalance (HFI) emerges when sub-national governments have different abilities to r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Centre For Tax Policy And Administration
The Centre for Tax Policy and Administration is part of the Secretariat of the Organisation for Economic Co-operation and Development in France. Pascal Saint-Amans serves as the director of the Centre. Among its initiative have been : * Base erosion and profit shifting (OECD project) * Guidance on Fiscal federalism * Greater Exchange of information between tax authorities * Criticism of transparency of tax havens such as Monaco and Panama Panama ( , ; es, link=no, Panamá ), officially the Republic of Panama ( es, República de Panamá), is a transcontinental country spanning the southern part of North America and the northern part of South America. It is bordered by Co ... * The Convention on Mutual Administrative Assistance in Tax Matters They released the report Harmful Tax Competition: An Emerging Global Issue [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flypaper Effect
The flypaper effect is a concept from the field of public finance that suggests that a government grant to a recipient municipality increases the level of local public spending more than an increase in local income of an equivalent size. When a dollar of exogenous grants to a community leads to significantly greater public spending than an equivalent dollar of citizen income: money sticks where it hits, like a fly to flypaper. Grants to the government will stay in the hands of the government and income to individuals will stay with these individuals. Founding The concept was first described in a metaphorical way by Arthur Okun in response to the research of his colleague Edward Gramlich, which was published in 1979 as ''The Stimulative Effects of Intergovernmental Grants''. Gramlich, together with Courant and Rubinfeld, sought an explanation for the phenomenon that nonmatching grants stimulate much more local spending per dollar of grant than does income going to private citizens ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tiebout Hypothesis
The Tiebout model, also known as Tiebout sorting, Tiebout migration, or Tiebout hypothesis, is a positive political theory model first described by economist Charles Tiebout in his article "A Pure Theory of Local Expenditures" (1956). The essence of the model is that there is in fact a non-political solution to the free rider problem in local governance. Specifically, competition across local jurisdictions places competitive pressures on the provision of local public goods such that these local governments are able to provide the optimal level of public goods. Overview Tiebout first proposed the model informally as a graduate student in a seminar with Richard Musgrave, who argued that the free rider problem necessarily required a political solution. Later, after obtaining his PhD, Tiebout fully described his hypothesis in a seminal article published in 1956 by the '' Journal of Political Economy''. Tiebout believes that the ideas of shopping and competition could be brought int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ezenwo Nyesom Wike
Ezenwo Nyesom Wike (born 13 December 1967), is a Nigerian politician and lawyer who is the sixth and current Governor of Rivers State. He is an Ikwerre from Rumuepirikom in Obio-Akpor, Rivers State. He is a member of the People's Democratic Party and was educated at Rivers State University of Science and Technology. Wike was elected as a two-term Executive Chairman of Obio Akpor Local Government Area from 1999 to 2007. He was appointed Minister of State for Education on 14 July 2011. Wike was later appointed the Acting Minister of Education, after Mrs Ruqqayatu was sacked but resigned before finishing his term to campaign for Governor of Rivers State. He was replaced by Viola Onwuliri.Cabinet reshuffle: Onwuliri now Minister of Educati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vanguard (Nigeria)
''Vanguard'' is a daily newspaper published by Vanguard Media, based in Lagos, Nigeria. Vanguard Media was established in 1984 by veteran journalist Sam Amuka-Pemu with three friends. The paper has an online edition. It is one of the few newspapers in Nigeria considered independent from political control, the others being This Day, The Punch, The Sun and The Guardian. In June 1990, the paper was briefly suspended by Col. Raji Rasaki, Military Governor of Lagos State. In December 2008, the US-based ''Pointblanknews.com'' published a story that alleged the wife of the publisher of Vanguard Newspapers was involved in a ritual killing. ''The Vanguard'' took the reporter to court, claiming he was attempting extortion. In December 2009, a Niger Delta The Niger Delta is the delta of the Niger River sitting directly on the Gulf of Guinea on the Atlantic Ocean in Nigeria. It is located within nine coastal southern Nigerian states, which include: all six states from the South ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Governor Of Rivers State
The Governor of Rivers State is the chief executive of the Rivers State government and is one of the governors of the thirty-six states of Nigeria. The governor is supported by the Deputy Governor, both popularly elected for a term of four years (maximum of two terms). The governor, as head of the executive branch, has the power to appoint commissioners responsible for each of the state's ministries, the heads of parastatals, judicial officers and the state-owned bodies with specific regulatory or administrative duties. They cannot be a member of the state House of Assembly. History Since achieving statehood in 1967, fifteen individuals have held the power to govern Rivers State, a majority of whom were military officers. Alfred Diete-Spiff, a navy commander and member of the Supreme Military Council, served as the first military governor of the state, after it was created from part of the old Eastern Region, Nigeria. He held office from May 1967 until July 1975 during the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equalization Payments
Equalization payments are cash payments made in some federal systems of government from the federal government to subnational governments with the objective of offsetting differences in available revenue or in the cost of providing services. Many federations use fiscal equalisation to reduce the inequalities in the fiscal capacities of sub-national governments arising from the differences in their geography, demography, natural endowments and economies. The level of equalisation sought can vary, however. The payments are generally calculated based on the magnitude of the subnational "fiscal gap": essentially the difference between fiscal need and fiscal capacity. Fiscal capacity and fiscal need are not equivalent to measures of fiscal revenue and expenditure, as making them so would induce perverse incentives to subnational governments to reduce fiscal effort. Australia Australia introduced a formal system of horizontal fiscal equalisation (HFE) in 1933 to compensate states/terri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
