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Essays in fiscal centralization and ...

Edwards, Ronald Alan.

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Essays in fiscal centralization and economic development.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Essays in fiscal centralization and economic development./
作者:	Edwards, Ronald Alan.
面頁冊數:	122 p.
附註:	Source: Dissertation Abstracts International, Volume: 60-08, Section: A, page: 3065.
Contained By:	Dissertation Abstracts International60-08A.
標題:	Economic history. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9944356
ISBN:	9780599461154

Essays in fiscal centralization and economic development.
Edwards, Ronald Alan.

Essays in fiscal centralization and economic development. - 122 p.

Source: Dissertation Abstracts International, Volume: 60-08, Section: A, page: 3065.

Thesis (Ph.D.)--University of Minnesota, 1999.

This item must not be sold to any third party vendors.

In 1400 A.D. China's per-capita output in 1985 dollars was $500 and in 1950 A.D. it was $450 according to estimates by Maddison. In sharp contrast, Western Europe's per-capita output grew from $430 to $4900 over this same period. Why was there such a dramatic difference in economic development between the East and West? In this thesis, a theory of development is proposed that analyzes China's five centuries of economic stagnation. Our hypothesis is that government fiscal institutions played a critical role. In particular, China had a centralized fiscal government arrangement that stifled growth with high effective tax rates while Western Europe had a decentralized fiscal government arrangement where competition across states encouraged growth with low effective tax rates. A centralized fiscal arrangement is characterized by a central government that sets tax policy for all of the regions. A decentralized fiscal arrangement is characterized by a large number of regional governments that set their own respective regional tax rates. There is a mobile factor input that is the key to economic growth. Using an endogenous growth model framework, we consider centralized and decentralized fiscal government arrangements and show that the equilibrium outcomes are different under the two arrangements. In the model environment, under the decentralized fiscal arrangement regional the equilibrium entails low effective tax rates and growth. Under the centralized fiscal arrangement, the brium is characterized by high effective tax rates and stagnation. The key to the different equilibrium outcome lies in a time consistency problem. In the centralized fiscal arrangement, the central government faces a time consistency problem. Under the decentralized fiscal arrangement, regional tax competition acts as a commitment device.

ISBN: 9780599461154Subjects--Topical Terms:

548503
Economic history.

Essays in fiscal centralization and economic development.
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520 $a In 1400 A.D. China's per-capita output in 1985 dollars was $500 and in 1950 A.D. it was $450 according to estimates by Maddison. In sharp contrast, Western Europe's per-capita output grew from $430 to $4900 over this same period. Why was there such a dramatic difference in economic development between the East and West? In this thesis, a theory of development is proposed that analyzes China's five centuries of economic stagnation. Our hypothesis is that government fiscal institutions played a critical role. In particular, China had a centralized fiscal government arrangement that stifled growth with high effective tax rates while Western Europe had a decentralized fiscal government arrangement where competition across states encouraged growth with low effective tax rates. A centralized fiscal arrangement is characterized by a central government that sets tax policy for all of the regions. A decentralized fiscal arrangement is characterized by a large number of regional governments that set their own respective regional tax rates. There is a mobile factor input that is the key to economic growth. Using an endogenous growth model framework, we consider centralized and decentralized fiscal government arrangements and show that the equilibrium outcomes are different under the two arrangements. In the model environment, under the decentralized fiscal arrangement regional the equilibrium entails low effective tax rates and growth. Under the centralized fiscal arrangement, the brium is characterized by high effective tax rates and stagnation. The key to the different equilibrium outcome lies in a time consistency problem. In the centralized fiscal arrangement, the central government faces a time consistency problem. Under the decentralized fiscal arrangement, regional tax competition acts as a commitment device.
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