Knowledge

Public finance

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level of taxation is necessary in a welfare State to fulfill its obligations. Taxation is used as an instrument of attaining certain social objectives, i.e., as a means of redistribution of wealth and thereby reducing inequalities. Taxation in a modern government is thus needed not merely to raise the revenue required to meet its expenditure on administration and social services, but also to reduce the inequalities of income and wealth. Taxation might also be needed to draw away money that would otherwise go into consumption and cause inflation to rise.
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then there would be little or no scope for government. In many cases, however, conditions for private market efficiency are violated. For example, if many people can enjoy the same good (the moment that good was produced and sold, it starts to give its utility to every one for free) at the same time (non-rival, non-excludable consumption), then private markets may supply too little of that good. National defense is one example of non-rival consumption, or of a
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repay its debt, a key element determining sovereign risk, and risk premia. Like the risk of default of a private corporation, sovereign risk is a function of the level of debt, its ratio to liquid assets, revenues and expenditures, the expected growth and volatility of these revenues and expenditures, and the cost of servicing the debt. The government's financial statements contain the relevant information for this analysis.
1462: 2398: 3628:. The World Bank gathers information on external debt. On a regional level, the Organization for Economic Co-operation and Development (Dibidami ) compiles general government account data for its members, and Eurostat, following a methodology compatible with the GFSM 2001, compiles GFS for the members of the European Union. 3488:"All institutional units which are other non-market producers whose output is intended for individual and collective consumption, and mainly financed by compulsory payments made by units belonging to other sectors, and/or all institutional units principally engaged in the redistribution of national income and wealth". 3767:," which would be applied to make sure that policy makers design systems without any bias based on their personal characteristics, such as race, income, or place of residence. Under this experiment, decision-makers would ideally create systems that they would deem fair regardless of their status in society. 2820:
Collection of sufficient resources from the economy in an appropriate manner along with allocating and use of these resources efficiently and effectively constitute good financial management. Resource generation, resource allocation, and expenditure management (resource utilization) are the essential
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Achieving social equity is challenged by limited resources, political resistance, and economic disparities, respectively. Overcoming them calls for transparent policymaking, antidiscrimination laws, and region-specific policies. Success, on the other hand, calls for involvement from the stakeholders
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Social fairness includes the equal access of the various groups forming society to the financial resources and opportunities in all areas. This concept is ensuring that every individual, despite their socioeconomic condition, race, gender, and other qualities, get equal opportunities to benefit from
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The government's balance sheet presents the level of the debt; that is the government's liabilities. The memorandum items of the balance sheet provide additional information on the debt including its maturity and whether it is owed to domestic or external residents. The balance sheet also presents a
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lacking communication led to issues with pre-existing tax systems. Taxation was organized based on what "men spend" in hopes of encouraging investment and savings. Since the government was meant to take care of those who would otherwise turn to charity or crime by means of an allowance provided by a
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as well, although it was split into two categories there: on one hand the government was to provide for a theater in every city and works of art in the country side. On the other hand, the government was to provide financing for war. Unemployment in ancient Greece was virtually non-existent as Greek
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to organize or redirect the flows of money, goods and services, or other assets among corporations, among households, and between corporations and households; in the purpose of social justice, increased efficiency or other aims legitimized by the citizens—examples are the redistribution of national
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Taxation is the central part of modern public finance. Its significance arises not only from the fact that it is by far the most important of all revenues but also because of the gravity of the problems created by the present day tax burden. The main objective of taxation is raising revenue. A high
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Social equity in public finance underlies the principles and practices that work toward fair distribution of public resources, especially geared towards reducing inequalities between different social groups. This idea is very relevant for designing and implementing public policies, notably towards
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payments and payments for goods and services the government has contracted for but not yet paid, as government debt. This approach is called accrual accounting, meaning that obligations are recognized when they are acquired, or accrued, rather than when they are paid. This constitutes public debt.
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will allocate goods and services among individuals efficiently (in the sense that no waste occurs and that individual tastes are matching with the economy's productive abilities). If private markets were able to provide efficient outcomes and if the distribution of income were socially acceptable,
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One of the more traditional subfields of economics, public finance emphasizes the function and role of government in the economy. A region's inhabitants established a formal or informal entity known as the government to carry out a variety of tasks, including providing for social requirements like
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Clear goals have to be set with regard to measuring social equity and also relevant metrics. Common measures include accessibility to quality education, health outcomes from healthcare, and walkability of neighborhoods. Local governments can measure through such indicators the efficiency of their
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In practice, successful involvement of social equity in public finance often requires a focus on specific demographic groups most affected by disparities, such as those differentiated by race, socio-economic status, or geographic location. Local governments may, in this way, bring equity by being
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is the fair, just and equitable management of all institutions serving the public directly or by contract; and the fair and equitable distribution of public services, and implementation of public policy; and the commitment to promote fairness, justice and equity in the formation of public policy.
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This functional classification allows policy makers to analyze expenditures on categories such as health, education, social protection, and environmental protection. The financial statements can provide investors with the necessary information to assess the capacity of a government to service and
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recommends standard tables including standard fiscal indicators that meet a broad group of users including policy makers, researchers, and investors in sovereign debt. Government finance statistics should offer data for topics such as the fiscal architecture, the measurement of the efficiency and
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Public finance in centrally planned economies has differed in fundamental ways from that in market economies. Some state-owned enterprises generated profits that helped finance government activities.. In various mixed economies, the revenue generated by state-owned enterprises is used for various
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wherein they were to pay most of their produce and goods to the local lord. In 1550 serfs were instructed to pay another tax called za povoz, which was imposed on those who refused to deliver the harvest from their fields to their master. Later in the eighteenth and nineteenth century lords began
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The general government sector of a nation includes all non-private sector institutions, organisations and activities. The general government sector, by convention, includes all the public corporations that are not able to cover at least 50% of their costs by sales, and, therefore, are considered
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These data help estimate the resources a government can potentially access to repay its debt. The statement of operations ("income statement") contains the revenue and expense accounts of the government. The revenue accounts are divided into subaccounts, including the different types of taxes,
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tool. Deficits can also narrow the options of successor governments. There is also a difference between public and private finance, in public finance the source of income is indirect, e.g., various taxes (specific taxes, value added taxes), but in private finance sources of income is direct.
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labor. A tax may be defined as a "pecuniary burden laid upon individuals or property to support the government a payment exacted by legislative authority." A tax "is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority" and is "any
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Universal access to services: These policies are put in place to make sure that all citizens have access to some of the essential public services. For example, among the services ensuring the well-being and economic productivity of people are primary education, healthcare, and public
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The size of governments, their institutional composition and complexity, their ability to carry out large and sophisticated operations, and their impact on the other sectors of the economy warrant a well-articulated system to measure government economic operations.
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is the equivalent treatment of and opportunity for members of different groups within society regardless of individual distinctions of race, ethnicity, gender, age, social class, socioeconomic status, sexual orientation, or other characteristics or circumstances.
3073:, which examines the distribution of tax burdens after market adjustments are taken into account. Public finance research also analyzes effects of the various types of taxes and types of borrowing as well as administrative concerns, such as tax enforcement. 3524:"State government" is defined as the separate institutional units that exercise some government functions below those units at central government level and above those units at local government level, excluding the administration of social security funds. 2718:, a tax that was collected in order to pay for mercenaries. The first mention of a tax in Anglo-Saxon England dates back to the 7th century where it's specified that fines resulting from judicial cases should be paid to the king. Later something known as 3719:
These principles and strategies might very well make public finance one of the strongest allies for social equality—one where everyone has, under any circumstance, fair chances for success and participation in the benefits provided by society.
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In so doing, public finance may appear as a very strong lever that guarantees social equity based on the ability of all members of the community to gain respective fair access to the opportunities required for their well-being and success.
2774:, as he believed that a good could provide a value to society as whole that would exceed the value it would provide to only one individual. Adam Smith also maintained that a government should maintain a properly regulated money flow and 3521:"Central government" consists of all administrative departments of the state and other central agencies whose responsibilities cover the whole economic territory of a country, except for the administration of social security funds. 3667:
Uniform resource distribution: It ensures that public services across regions are of high quality and equal, including those from the less wealthy areas. This approach helps to mitigate regional disparities in access to government
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are among many, which could prevent integration of social equality into public finance. There has to be constant review and fine-tuning of the policies with full commitment to fairness in the distribution of public finance.
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of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. The purview of public finance is considered to be threefold, consisting of governmental effects on:
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programs transfer wealth from the young to the old. Other forms of government expenditure that represent purchases of goods and services also have the effect of changing the income distribution. For example, engaging in a
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Under broad assumptions, government decisions about the efficient scope and level of activities can be efficiently separated from decisions about the design of taxation systems (Diamond-Mirrlees separation). In this view,
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and property, as well as reasonable price and value. They also developed a well-maintained system of roads and colonies which led to one of the first real tax systems. Their system was tbased on two types of taxes:
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framework is similar to the financial accounting of businesses. For example, it recommends that governments produce a full set of financial statements including the statement of government operations (akin to the
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general government is responsible for the management of the institutional unit, for the payment or approval of the level of the contributions and of the benefits, independent of its role as a supervisory body or
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How might the government intervene? Once the decision is made to intervene the government must choose the specific tool or policy choice to carry out the intervention (for example public provision, taxation, or
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social contributions, dividends from the public sector, and royalties from natural resources. Finally, the interest expense account is one of the necessary inputs to estimate the cost of servicing the debt.
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Most government budgets are calculated on a cash basis, meaning that revenues are recognized when collected and outlays are recognized when paid. Some consider all government liabilities, including future
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to produce goods and services to satisfy households' needs (e.g., state health care) or to collectively meet the needs of the whole community (e.g. defense, public order, and safety).
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Although public finance only began to be viewed as a body of knowledge no more than a century and a half ago, there is evidence of principles common to public finance as early as the
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Equitable taxation: The taxing system is set to be equitable and not to burden the poor while providing enough revenue to fund the government expenditures. Mostly, this will involve
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disaggregates the general government into subsectors: central government, state government, and local government (See Figure 1). The concept of general government does not include
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Toward this time, public finance and interest in how governments were to utilize the money earned from taxes as well as how to provide for their state became increasingly common.
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is the general government sector defined as the group of entities capable of implementing public policy through the provision of primarily non market goods and services and the
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This underpins the importance for local governments to consider social equity in their strategic planning and budgeting process. This achieved through techniques such as the "
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attitude, with one of the central ideas being that the government's central role should be to guarantee private property, and the maintenance of one single tax, namely the
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system, where people of higher income bring in a higher percentage of their incomes, which helps in redistributing the resources toward communities that are under-served.
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income and wealth, the corporate income tax paid by companies to finance unemployment benefits, the social contributions paid by employees to finance the pension systems;
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Oates, Wallace E. "The Theory of Public Finance in a Federal System." The Canadian Journal of Economics / Revue Canadienne D'Economique, vol. 1, no. 1, 1968, pp. 37–54
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income from some groups to others. For example, governments sometimes transfer income to people that have suffered a loss due to natural disaster. Likewise, public
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with discussions of Sunday-trade, slavery regulations, and compassion for the poor. Public finance, although not explicitly named, is often the subject of much of
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What is the effect of those interventions on economic outcomes? A question to assess the empirical direct and indirect effects of specific government intervention.
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Public engagement: In this way, the process includes diverse community stakeholders to ensure they contribute and their needs are also addressed in the policies.
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contribution imposed by government whether under the name of toll, tribute, tallage, gabel, impost, duty, custom, excise, subsidy, aid, supply, or other name."
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has put forth a framework to assess the broad field of public finance. Gruber suggests public finance should be thought of in terms of four central questions:
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There are various types of taxes, broadly divided into two heads – direct (which is proportional) and indirect tax (which is differential in nature):
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also defines some indicators of effectiveness in government's expenditures, for example the compensation of employees as a percentage of expense. The
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by law or regulation (except those about government employees), certain population groups must take part in the scheme and have to pay contributions;
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provides a blueprint for the compilation, recording, and presentation of revenues, expenditures, stocks of assets, and stocks of liabilities. The
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Economists classify government expenditures into three main types. Government purchases of goods and services for current use are classed as
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is the internationally accepted methodology for compiling fiscal data. It is consistent with regionally accepted methodologies such as the
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and the cost of producing, distributing and eventually retiring it from circulation. Seigniorage is an important source of revenue for some
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also advocated for the laissez-faire attitude, but also claimed that the government would need to take a more proactive role in protection,
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able to customize public services and even distribution of resources to those groups, effectively dealing with the systemic inequalities.
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https://www.tcd.ie/Economics/assets/pdf/SER/1989/The%20History%20of%20the%20Theory%20of%20Public%20Finance%20By%20Margaret%20Doyle.pdf
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And finally, why do governments choose to intervene in the way that they do? This question is centrally concerned with the study of
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Legislative reforms: Laws that support equitable access to resources and protect against discrimination in public service delivery.
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Macroeconomic data to support public finance economics are generally referred to as fiscal or government finance statistics (GFS).
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Anti-discrimination measures: To enforce policies meant for the prevention of discrimination in the distribution of services and
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When should the government intervene in the economy? To which there are two central motivations for government intervention,
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having to pay a per capita tax for each of their peasants and were responsible for their well-being during times of famine.
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How a government chooses to finance its activities can have important effects on the distribution of income and wealth (
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is the difference between government spending and revenues. The accumulation of deficits over time is the total public
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includes a functional classification of expense as defined by the Classification of Functions of Government (COFOG) .
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addresses the institutional complexity of government by defining various levels of government. The main focus of the
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transfers wealth from people that do not use the roads to those people that do (and to those that build the roads).
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Hewett, Roger (1987). "Public Finance, Public Economics, and Public Choice: A Survey of Undergraduate Textbooks".
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GFS can be accessible through several sources. The International Monetary Fund publishes GFS in two publications:
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that are not only fair but also inclusive across all groups of society. In more cases than not, this calls for a
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effectiveness of government expenditures, the economics of taxation, and the structure of public financing. The
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efforts and performance in the allocation of resources from the budget to take care of the social disparities.
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Public finance as a field began becoming more well-known and independently recognized around this time, with
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within the government sector. That is necessary in a society where people have an equal chance to succeed.
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was introduced, wherein regions would pay a certain amount of their foodstuffs to the king periodically.
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Following Adam Smith, several economists expanded on his ideas, or transformed them as in the case of
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system wherein the lower income levels paid higher taxes and the wealthier enjoyed reduced taxation.
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education and healthcare as well as protecting the populace's private property from outside threats.
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In the European System of Accounts, the sector "general government" has been defined as containing:
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Gruber, J. (2010) Public Finance and Public Policy (Third Edition), Worth Publishers, Pg. 9, Part 1
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Gruber, J. (2010) Public Finance and Public Policy (Third Edition), Worth Publishers, Pg. 7, Part 1
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Gruber, J. (2010) Public Finance and Public Policy (Third Edition), Worth Publishers, Pg. 3, Part 1
3806: 3219: 2401: 1943: 1862: 1490: 1026: 5169: 4502: 3447:. The general government plus the public corporations comprise the public sector (See Figure 2). 3293: 2771: 2568: 2553: 2190: 1833: 1621: 669: 659: 554: 53: 4106: 3303:
As the government represents the people, government debt can be seen as an indirect debt of the
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on the different demographic groups. Implemented to guarantee that said policies are effective.
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approach first became popular toward the middle of the 17th century, popularized especially by
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analysis), and then revenues needed to pay for those expenditures should be raised through a
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gave further criteria for taxation, namely equality, certainty, convenience, and economy.
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The general government sector, in the European System of Accounts, has four sub-sectors:
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or international institutions such as the International Monetary Fund or the World Bank.
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as the basis of recording and the presentations of stocks of assets and liabilities at
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This food rent was not too dissimilar from the taxes imposed on serfs in Russia in the
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Gruber, J. (2010) Public Finance and Public Policy , Worth Publishers, Pg. 6, Part 1
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To achieve social equality, governments employ a variety of strategies, including:
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state endeavors; typically the revenue generated by state and government agencies.
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Taxation and Public Finance course at the Harris School of Public Policy Studies
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Public Finance in Democratic Process: Fiscal Institutions and Individual Choice
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is substantially more complicated and often results in inefficient practices.
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in France (as opposed to the classical school in Britain). They maintained a "
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The core tenets of promoting social equality through public finance include:
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The proper role of government provides a starting point for the analysis of
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as per the governmental duties extended to growth, equity, and employment.
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public tax, it is one of the first concepts of what could be considered a
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IMF – Dissemination Standards Bulletin Board – Subscribing ...
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and effective governance that takes into account long-term planning and
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Government operations are those activities involved in the running of a
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The power of the purse: A history of American public finance, 1776-1790
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Public Finance and Public Choice: Two Contrasting Visions of the State
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and bills. Less creditworthy countries sometimes borrow directly from
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The following subdivisions form the subject matter of public finance.
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Policy evaluation and adjustment: Evaluation of the influence behind
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Therefore, the main functions of general government units are :
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programs should be designed to maximize social benefits minus costs (
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disaggregated classification of financial and non-financial assets.
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transfers wealth to families with children in these schools. Public
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tax (tax levied on production for sale, or sale, of a certain good)
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C. E. Bohanon, J. B. Horowitz and J. E. McClure (September 2014).
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Government can pay for spending by borrowing (for example, with
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Government expenditures are financed primarily in three ways:
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system that creates the fewest efficiency losses caused by
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later popularized systemic bodies of law. They guaranteed
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of economic activity as possible. In practice, government
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American public finance and financial services, 1700-1815
4016:"Taxes and Trade in the Roman Empire (200 B.C.–A.D. 400)" 3737: 3394:
The Government Finance Statistics Manual 2001 (GFSM 2001)
3304: 3096: 3082: 3025: 2962: 2592: 1202: 2744:. The laissez-faire attitude was especially common with 4523:
The Theory of Public Finance: A Study in Public Economy
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https://academic.oup.com/jpart/article/31/2/467/5959857
3904: 3902: 3567:. It is an improvement on the prior methodology – 3256:
Governments, like any other legal entity, can take out
2997: 2686:, while the latter was made up of another poll tax, an 30:"Public Finance" redirects here. For the magazine, see 3648:
that relate to health, education, and social welfare.
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and broadly in line with its most recent update, the
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or a functional equivalent of a state (for example,
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or a functional equivalent of a state (for example,
3723: 2965:may transfer wealth to certain sectors of society. 67:. Unsourced material may be challenged and removed. 27:Study of the role of government within the economy 4525:, McGraw-Hill. 1st-page reviews of J.M. Buchanan 4406:"What Is Social Equity in Public Administration?" 5161: 4597: 3949:. New York: PALGRAVE MACMILLAN. pp. 143pp. 3706: 2530:, theorizing how governments make public policy. 4337:"Standing Panel on Social Equity in Governance" 3652:Principles of social equality in public finance 3067:effect of taxes on market prices and efficiency 3747: 3418: 3164:(tax on business transactions, especially the 4668: 3387:Government finance statistics and methodology 3119:movements). Taxes could also be imposed by a 2431: 1498: 562: 4682: 4601:Public Finance: An International Perspective 3683: 3358:. It arises from the difference between the 2815: 3859:. New York: Worth Publications. p. 2. 3403:and consistent with the methodology of the 1383:International Financial Reporting Standards 1348:Separation of investment and retail banking 4675: 4661: 3787: 3664:in which higher earners pay a higher rate. 3311:, owed to lenders within the country, and 2851: 2756:, which encompassed the farmer's surplus. 2547:. In theory, under certain circumstances, 2438: 2424: 1505: 1491: 569: 555: 149: 4341:National Academy of Public Administration 4071:Robert Barro and Vittorio Grilli (1994), 3879: 3711:The challenges of a political nature and 3569:Government Finance Statistics Manual 1986 3474:Government Finance Statistics Manual 2001 3459:Government Finance Statistics Manual 2001 3006:Budgeted revenues of governments in 2006. 2812:writing many pivotal works in the field. 1768:Transaction (checking / current) 127:Learn how and when to remove this message 4562:Classics in the Theory of Public Finance 4540:The New Palgrave Dictionary of Economics 4334: 4301:Inclusion, Diversity and Social Equality 4086: 3464: 3449: 3307:. Government debt can be categorized as 3001: 2904:movements) for the purpose of producing 2877: 4463:, McGraw-Hill Economics Handbook Series 4013: 3378:Public finance through state enterprise 14: 5162: 4497:_____ and Richard A. Musgrave (1999). 4403: 4197: 4195: 4193: 3969: 3963: 3944: 3854: 3626:Government Finance Statistics Yearbook 2931: 5144:Valuation using discounted cash flows 4656: 4551:Public Finance in Theory and Practice 3406:System of National Accounts (SNA1993) 3095:A tax is a financial charge or other 4549:_____ and Peggy B. Musgrave (1973). 3065:) and on the efficiency of markets ( 2998:Financing of government expenditures 2397: 65:adding citations to reliable sources 36: 4190: 3752:Social equity requires formulating 3437:redistribution of income and wealth 3181:Services taxes on specific services 2571:, informational advantages, strong 2514:redistribution of income and wealth 24: 3632:Public finance and social equality 3622:International Financial Statistics 2770:. He first proposed the idea of a 1422:Private equity and venture capital 1333:Bank for International Settlements 428:Trade / commerce ministry 25: 5181: 4619: 3972:The Journal of Economic Education 3204:(taxes on importation, levied at 2651:economic rule equated heavily to 1467:Business and Economics portal 4537:_____ (2008). "public finance", 4428: 4298: 4014:Hopkins, Keith (November 1980). 3857:Public Finance and Public Policy 3724:Public finance and social equity 3400:European System of Accounts 1995 2453:is the study of the role of the 2406: 2396: 2387: 2386: 1535: 1472: 1460: 1055:Base erosion and profit shifting 600: 537: 41: 5044:Quantitative behavioral finance 4479:The Economics of Public Finance 4422: 4397: 4353: 4328: 4307: 4292: 4268: 4256: 4244: 4232: 4220: 4211: 4175: 4166: 4154: 4129: 4098: 4065: 4054: 4007: 3998: 3883:The Economics of Public Finance 3574: 52:needs additional citations for 5084:Strategic financial management 4731:Bull (stock market speculator) 4645:New International Encyclopedia 4589:Economics of the Public Sector 4276:"APA Dictionary of Psychology" 3938: 3929: 3920: 3911: 3890: 3770: 3339: 3099:imposed on an individual or a 2750:laissez-faire, laisser-passer" 2646:These concepts can be seen in 2186:Strategic financial management 815:Collateralised debt obligation 725:Bull (stock market speculator) 13: 1: 5114:Sustainable Development Goals 4446: 3707:Challenges and considerations 3282:central or federal government 3035:government-owned corporations 2992:Public financing of campaigns 2340:Sustainable development goals 1161:Final consumption expenditure 4461:Lectures in Public Economics 4187:. Retrieved 4 September 2021 4020:The Journal of Roman Studies 3455:Figure 1: General Government 3354:derived from the issuing of 3178:(VAT) is a type of sales tax 7: 4004:businessfinancearticles.org 3945:Tresch, Richard W. (2008). 3800: 3748:Concepts and implementation 3419:Measuring the public sector 3239:unincorporated associations 2823:public financial management 2534: 10: 5186: 4796:Enterprise risk management 3740:, budget allocations, and 3343: 3249: 3080: 3009: 2944:Redistribution (economics) 2941: 2935: 2881: 2855: 2678:. The former included the 2630: 2091:Fractional-reserve banking 2019:Enterprise risk management 1393:Professional certification 991:Enterprise risk management 775:Offshore financial centres 257:Deficit / surplus 29: 4781:Diversification (finance) 4691: 4598:Greene, Joshua E (2011). 4481:, Brookings Institution. 4202:General Government sector 4163:, p. 1307 (5th ed. 1979). 3855:Gruber, Jonathan (2005). 3684:Implementation strategies 2816:Public finance management 1994:Diversification (finance) 1338:Financial Stability Board 358:Monetary (currency) union 32:Public Finance (magazine) 4556:Richard A. Musgrave and 4515:(UNC Press Books, 1961). 4075:, Ch. 15–16. Macmillan, 3842: 3807:Constitutional economics 3476:(Washington, 2001) pp.15 3461:(Washington, 2001) pp.13 3076: 2841:Financial administration 1944:Automated teller machine 1027:Mergers and acquisitions 4580:Complete text line free 4505:and scrollable preview 4182:Definition: Seigniorage 4092:Columbia Encyclopedia, 4073:European Macroeconomics 3947:Public Sector Economics 3788:Measuring Social Equity 3470:Figure 2: Public Sector 3350:Seigniorage is the net 3276:) owed by any level of 3245: 2852:Government expenditures 2482:of available resources; 2191:Stress test (financial) 4994:Investment performance 4696:Alternative investment 4633:(see "fiscal sector")м 4564:, Palgrave Macmillan. 4161:Black's Law Dictionary 3612:Fiscal data using the 3481:non-market producers. 3477: 3462: 3041:, sales of assets, or 3039:sovereign wealth funds 3007: 2864:government consumption 2487:distribution of income 2471:government expenditure 2461:. It is the branch of 829:certificate of deposit 469:Discretionary spending 4989:Investment management 4974:International finance 4801:Environmental finance 4761:Computational finance 4404:bvorel (2021-09-21). 4335:Incorporated, Prime. 4217:ESA95, paragraph 2.68 3662:progressive taxations 3517:social security funds 3468: 3453: 3266:financial investments 3152:, levied on documents 3131:, and may be paid in 3063:income redistribution 3005: 2884:Government operations 2878:Government operations 2868:government investment 2810:John Ramsay McCulloch 2803:Thomas Robert Malthus 2365:Too connected to fail 2126:Investment management 2024:Environmental finance 1883:Correspondent account 1577:Community development 780:Conduit and sink OFCs 5054:Risk-return spectrum 5009:Mathematical finance 4929:Fundamental analysis 4923:Financial technology 4821:Experimental finance 4816:Exchange traded fund 4511:Ferguson, E. James. 4263:Social security fund 3827:Henry George Theorem 3286:municipal government 3212:Corporate income tax 3051:Government borrowing 2982:Employment insurance 2786:,  and provide 2657:economic development 2641:political philosophy 2480:efficient allocation 2263:Exchange traded fund 2141:Mathematical finance 2101:Fundamental analysis 2096:Full-reserve banking 1702:Bank holding company 1612:Export credit agency 1520:Part of a series on 1006:Financial statements 986:Credit rating agency 911:Repurchase agreement 61:improve this article 5119:Sustainable finance 5089:Statistical finance 5069:Statistical finance 4979:Investment advisory 4939:Greater fool theory 4519:Richard A. Musgrave 4453:Anthony B. Atkinson 4265:, Eurostat glossary 4253:, Eurostat glossary 4241:, Eurostat glossary 4229:, Eurostat glossary 3812:Efficiency dividend 3557:cash flow statement 3445:public corporations 3294:tax increment bonds 3231:Personal income tax 3191:Vehicle excise duty 3123:. Taxes consist of 2950:Income distribution 2938:Income distribution 2932:Income distribution 2858:Government spending 2712:negative income tax 2667:freedom of contract 2489:among citizens; and 2355:Time value of money 2181:Statistical finance 2171:Sustainable finance 2121:Investment advisory 1763:Time deposit (Bond) 1442:Accounting scandals 1432:Stock market bubble 1152:Government spending 1109:Employment contract 1061:Corporate tax haven 820:Credit default swap 5104:Structured product 5099:Structured finance 4984:Investment banking 4959:History of banking 4746:Capital management 4591:, 3rd ed. Norton. 4585:Joseph E. Stiglitz 4578:(1994) pp 324–48. 4574:Edwin J. Perkins, 4483:Table of Contents. 4457:Joseph E. Stiglitz 4280:dictionary.apa.org 4227:Central government 4185:The Economic Times 4111:Econ Journal Watch 3880:Jain, P C (1974). 3713:budget constraints 3561:accrual accounting 3508:central government 3478: 3463: 3235:Hindu joint family 3170:goods and services 3121:subnational entity 3021:Government revenue 3012:Government revenue 3008: 2832:Public expenditure 2796:Canons of Taxation 2577:government failure 2573:economies of scale 2467:government revenue 2465:that assesses the 2330:Security (finance) 2305:History of banking 2201:Structured product 2196:Structured finance 2009:Economic expansion 1522:financial services 1437:Stock market crash 1287:Investment banking 1277:Fractional-reserve 1242:Warrant of payment 1191:Government revenue 1114:Financial planning 1032:Structured finance 474:Mandatory spending 398:Non-tariff barrier 336:Monetary authority 18:Government funding 5157: 5156: 5034:Position of trust 4766:Corporate finance 4751:Capital structure 4711:Asset (economics) 4683:General areas of 4611:978-981-4365-04-8 4488:James M. Buchanan 4385:Missing or empty 3956:978-0-230-52223-7 3822:Government budget 3765:veil of ignorance 2971:road construction 2872:transfer payments 2528:political economy 2448: 2447: 2243:Corporate finance 2238:Capital structure 2213: 2212: 1984:Corporate finance 1804: 1803: 1515: 1514: 1405: 1404: 1355: 1354: 1343:Deposit insurance 1249: 1248: 1083: 1082: 981:Corporate finance 976:Capital structure 971:Capital budgeting 906:Performance bonds 787: 786: 770:Financial centres 730:Financial planner 630:Asset (economics) 579: 578: 520:Fiscal adjustment 137: 136: 129: 111: 16:(Redirected from 5177: 5029:Personal finance 5019:Over-the-counter 4999:Investor profile 4969:Impact investing 4964:History of money 4944:Growth investing 4806:Equity (finance) 4716:Asset allocation 4677: 4670: 4663: 4654: 4653: 4649: 4641: 4615: 4441: 4440: 4438: 4437: 4426: 4420: 4419: 4417: 4416: 4401: 4395: 4394: 4388: 4383: 4381: 4373: 4371: 4370: 4361:academic.oup.com 4357: 4351: 4350: 4348: 4347: 4332: 4326: 4325: 4323: 4322: 4311: 4305: 4304: 4296: 4290: 4289: 4287: 4286: 4272: 4266: 4260: 4254: 4251:Local government 4248: 4242: 4239:State government 4236: 4230: 4224: 4218: 4215: 4209: 4199: 4188: 4179: 4173: 4170: 4164: 4158: 4152: 4151: 4149: 4148: 4139:. 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stability 497:Economic growth 492:Balanced budget 487: 479: 478: 459:Non-tax revenue 454: 453: 433: 432: 423:Trade diversion 378: 368: 367: 321:Discount window 304: 302:Monetary policy 294: 293: 228: 218: 217: 163: 133: 122: 116: 113: 70: 68: 58: 46: 35: 28: 23: 22: 15: 12: 11: 5: 5183: 5173: 5172: 5170:Public finance 5155: 5154: 5152: 5151: 5146: 5141: 5136: 5131: 5126: 5124:Swap (finance) 5121: 5116: 5111: 5109:Sustainability 5106: 5101: 5096: 5091: 5086: 5081: 5076: 5074:Stock exchange 5071: 5066: 5061: 5059:Social finance 5056: 5051: 5046: 5041: 5039:Public finance 5036: 5031: 5026: 5021: 5016: 5011: 5006: 5001: 4996: 4991: 4986: 4981: 4976: 4971: 4966: 4961: 4956: 4951: 4946: 4941: 4936: 4931: 4926: 4920: 4919: 4918: 4913: 4908: 4903: 4898: 4893: 4888: 4883: 4878: 4873: 4868: 4863: 4858: 4853: 4848: 4843: 4838: 4833: 4823: 4818: 4813: 4808: 4803: 4798: 4793: 4788: 4783: 4778: 4773: 4768: 4763: 4758: 4753: 4748: 4743: 4738: 4733: 4728: 4726:Bond (finance) 4723: 4718: 4713: 4708: 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1554: 1548: 1546:Types of banks 1545: 1544: 1541: 1540: 1532: 1531: 1525: 1524: 1513: 1512: 1510: 1509: 1502: 1495: 1487: 1484: 1483: 1482: 1481: 1469: 1457: 1449: 1448: 1445: 1444: 1439: 1434: 1429: 1424: 1418: 1413: 1412: 1409: 1408: 1403: 1402: 1401: 1400: 1395: 1390: 1385: 1375: 1363: 1362: 1359: 1358: 1353: 1352: 1351: 1350: 1345: 1340: 1335: 1330: 1325: 1317: 1316: 1308: 1307: 1305:Lists of banks 1300: 1299: 1294: 1289: 1284: 1279: 1274: 1269: 1263: 1262: 1257: 1256: 1253: 1252: 1247: 1246: 1245: 1244: 1239: 1234: 1232: 1231: 1226: 1215: 1213: 1211: 1210: 1205: 1199: 1194: 1193: 1187: 1186: 1185: 1184: 1179: 1177: 1176: 1174:Redistribution 1171: 1165: 1163: 1155: 1154: 1146: 1141: 1140: 1137: 1136: 1133: 1132: 1130: 1129: 1124: 1118: 1116: 1111: 1106: 1096: 1091: 1090: 1087: 1086: 1081: 1080: 1079: 1078: 1073: 1068: 1063: 1058: 1049: 1048: 1042: 1041: 1040: 1039: 1034: 1029: 1024: 1016: 1015: 1011: 1010: 1009: 1008: 1003: 998: 993: 988: 983: 978: 973: 968: 963: 955: 954: 948: 943: 942: 939: 938: 934: 933: 928: 923: 918: 913: 908: 901: 900: 894: 889: 879: 878: 877: 872: 867: 862: 857: 852: 847: 842: 837: 832: 822: 817: 812: 807: 801: 800: 795: 794: 791: 790: 785: 784: 783: 782: 777: 772: 764: 763: 757: 756: 755: 754: 749: 744: 743: 742: 732: 727: 722: 720:Angel investor 714: 713: 707: 706: 705: 704: 699: 694: 689: 687:Private equity 684: 677: 672: 667: 662: 657: 652: 647: 642: 637: 632: 624: 623: 615: 610: 609: 606: 605: 597: 596: 590: 589: 577: 576: 574: 573: 566: 559: 551: 548: 547: 546: 545: 532: 531: 528: 527: 522: 516: 513: 512: 509: 508: 505: 504: 499: 494: 488: 485: 484: 481: 480: 477: 476: 471: 466: 461: 455: 452: 451: 446: 440: 439: 438: 435: 434: 431: 430: 425: 420: 418:Trade creation 415: 410: 405: 400: 395: 390: 385: 379: 374: 373: 370: 369: 366: 365: 360: 355: 350: 349: 348: 346:currency board 343: 333: 328: 323: 318: 317: 316: 305: 300: 299: 296: 295: 292: 291: 286: 285: 284: 274: 269: 264: 259: 254: 253: 252: 242: 241: 240: 229: 224: 223: 220: 219: 216: 215: 210: 205: 200: 195: 190: 185: 180: 175: 170: 164: 159: 158: 155: 154: 146: 145: 143:Public finance 135: 134: 49: 47: 40: 26: 9: 6: 4: 3: 2: 5182: 5171: 5168: 5167: 5165: 5150: 5149:Watered stock 5147: 5145: 5142: 5140: 5137: 5135: 5132: 5130: 5127: 5125: 5122: 5120: 5117: 5115: 5112: 5110: 5107: 5105: 5102: 5100: 5097: 5095: 5092: 5090: 5087: 5085: 5082: 5080: 5077: 5075: 5072: 5070: 5067: 5065: 5062: 5060: 5057: 5055: 5052: 5050: 5047: 5045: 5042: 5040: 5037: 5035: 5032: 5030: 5027: 5025: 5022: 5020: 5017: 5015: 5012: 5010: 5007: 5005: 5002: 5000: 4997: 4995: 4992: 4990: 4987: 4985: 4982: 4980: 4977: 4975: 4972: 4970: 4967: 4965: 4962: 4960: 4957: 4955: 4952: 4950: 4947: 4945: 4942: 4940: 4937: 4935: 4932: 4930: 4927: 4924: 4921: 4917: 4914: 4912: 4909: 4907: 4904: 4902: 4899: 4897: 4894: 4892: 4889: 4887: 4884: 4882: 4879: 4877: 4874: 4872: 4869: 4867: 4864: 4862: 4859: 4857: 4854: 4852: 4849: 4847: 4844: 4842: 4839: 4837: 4834: 4832: 4829: 4828: 4827: 4824: 4822: 4819: 4817: 4814: 4812: 4809: 4807: 4804: 4802: 4799: 4797: 4794: 4792: 4791:Eco-investing 4789: 4787: 4784: 4782: 4779: 4777: 4776:Disinvestment 4774: 4772: 4769: 4767: 4764: 4762: 4759: 4757: 4754: 4752: 4749: 4747: 4744: 4742: 4741:Capital asset 4739: 4737: 4734: 4732: 4729: 4727: 4724: 4722: 4719: 4717: 4714: 4712: 4709: 4707: 4704: 4702: 4699: 4697: 4694: 4693: 4690: 4686: 4678: 4673: 4671: 4666: 4664: 4659: 4658: 4655: 4647: 4646: 4640: 4635: 4632: 4629: 4627: 4624: 4623: 4613: 4607: 4603: 4602: 4596: 4594: 4590: 4586: 4583: 4581: 4577: 4573: 4571: 4567: 4563: 4559: 4555: 4552: 4548: 4546: 4542: 4541: 4536: 4533: 4531: 4527: 4524: 4520: 4517: 4514: 4510: 4508: 4504: 4501:, MIT Press. 4500: 4496: 4493: 4489: 4486: 4484: 4480: 4476: 4472: 4468: 4465: 4462: 4458: 4454: 4451: 4450: 4432: 4425: 4411: 4407: 4400: 4392: 4379: 4365: 4362: 4356: 4342: 4338: 4331: 4316: 4310: 4302: 4295: 4281: 4277: 4271: 4264: 4259: 4252: 4247: 4240: 4235: 4228: 4223: 4214: 4207: 4203: 4198: 4196: 4194: 4186: 4183: 4178: 4169: 4162: 4157: 4143:on 2009-06-09 4142: 4138: 4132: 4116: 4112: 4108: 4101: 4095: 4089: 4082: 4081:0-333-57764-7 4078: 4074: 4068: 4062: 4057: 4049: 4045: 4041: 4037: 4033: 4029: 4025: 4021: 4017: 4010: 4001: 3993: 3989: 3985: 3981: 3977: 3973: 3966: 3958: 3952: 3948: 3941: 3932: 3923: 3914: 3905: 3903: 3893: 3885: 3884: 3876: 3868: 3866:0-7167-8655-9 3862: 3858: 3851: 3847: 3838: 3837:Public choice 3835: 3833: 3830: 3828: 3825: 3823: 3820: 3818: 3815: 3813: 3810: 3808: 3805: 3804: 3798: 3794: 3785: 3783: 3777: 3768: 3766: 3761: 3759: 3755: 3745: 3743: 3739: 3733: 3730: 3729:Social equity 3721: 3717: 3714: 3701: 3698: 3695: 3691: 3690: 3689: 3678: 3674: 3670: 3666: 3663: 3659: 3658: 3657: 3649: 3647: 3641: 3638: 3629: 3627: 3623: 3615: 3609: 3605: 3601: 3597: 3595: 3591: 3587: 3582: 3572: 3570: 3566: 3562: 3558: 3554: 3553:balance sheet 3550: 3545: 3536: 3533: 3532: 3531: 3528: 3525: 3522: 3516: 3513: 3510: 3507: 3506: 3505: 3499: 3495: 3494: 3493: 3487: 3486: 3485: 3482: 3475: 3471: 3467: 3460: 3456: 3452: 3448: 3446: 3442: 3438: 3434: 3430: 3425: 3416: 3414: 3413: 3408: 3407: 3402: 3401: 3396: 3395: 3384: 3375: 3373: 3369: 3365: 3361: 3357: 3353: 3347: 3337: 3334: 3328: 3326: 3322: 3318: 3314: 3313:external debt 3310: 3309:internal debt 3306: 3301: 3299: 3298:revenue bonds 3295: 3291: 3287: 3283: 3279: 3275: 3271: 3267: 3263: 3259: 3253: 3240: 3236: 3232: 3229: 3227: 3224: 3221: 3217: 3213: 3210: 3207: 3203: 3200: 3198: 3195: 3192: 3188: 3185: 3180: 3177: 3174: 3173: 3171: 3167: 3163: 3160: 3157: 3154: 3151: 3148: 3145: 3144: 3143: 3140: 3139: 3134: 3130: 3126: 3122: 3118: 3117:revolutionary 3115:movements or 3114: 3110: 3106: 3102: 3098: 3093: 3088: 3084: 3074: 3072: 3071:tax incidence 3068: 3064: 3057: 3054: 3052: 3049: 3044: 3040: 3036: 3032: 3029: 3027: 3024: 3023: 3022: 3019: 3018: 3017: 3013: 3004: 2993: 2990: 2988: 2985: 2983: 2980: 2978: 2975: 2972: 2968: 2964: 2959: 2955: 2951: 2948: 2947: 2945: 2939: 2929: 2927: 2923: 2919: 2915: 2911: 2907: 2903: 2902:revolutionary 2900:movements or 2899: 2895: 2891: 2885: 2875: 2873: 2869: 2865: 2859: 2847:Fiscal policy 2846: 2843: 2840: 2837: 2834: 2831: 2830: 2829: 2826: 2824: 2813: 2811: 2806: 2804: 2799: 2797: 2793: 2789: 2785: 2781: 2777: 2773: 2769: 2765: 2761: 2757: 2755: 2751: 2747: 2743: 2739: 2738:laissez-faire 2734: 2731: 2728: 2723: 2721: 2717: 2713: 2708: 2703: 2701: 2697: 2693: 2689: 2685: 2681: 2677: 2673: 2668: 2664: 2660: 2658: 2654: 2649: 2644: 2642: 2638: 2628: 2625: 2624:fiscal policy 2621: 2617: 2613: 2608: 2606: 2602: 2598: 2594: 2590: 2586: 2585:public sector 2580: 2578: 2574: 2570: 2566: 2565:Externalities 2562: 2557: 2555: 2550: 2546: 2541: 2529: 2525: 2522: 2518: 2515: 2511: 2507: 2506: 2505: 2503: 2495: 2491: 2488: 2484: 2481: 2477: 2476: 2475: 2472: 2468: 2464: 2460: 2456: 2452: 2441: 2436: 2434: 2429: 2427: 2422: 2421: 2419: 2418: 2413: 2409: 2405: 2403: 2395: 2393: 2385: 2384: 2383: 2382: 2375: 2374: 2371: 2370:Watered stock 2368: 2366: 2363: 2361: 2358: 2356: 2353: 2351: 2350:Systemic risk 2348: 2346: 2343: 2341: 2338: 2336: 2333: 2331: 2328: 2326: 2323: 2321: 2318: 2316: 2313: 2311: 2310:List of banks 2308: 2306: 2303: 2299: 2296: 2294: 2291: 2289: 2286: 2284: 2281: 2279: 2276: 2275: 2274: 2271: 2269: 2266: 2264: 2261: 2259: 2256: 2254: 2251: 2249: 2246: 2244: 2241: 2239: 2236: 2234: 2231: 2229: 2228:Asset pricing 2226: 2225: 2219: 2218: 2207: 2204: 2202: 2199: 2197: 2194: 2192: 2189: 2187: 2184: 2182: 2179: 2177: 2174: 2172: 2169: 2167: 2164: 2162: 2159: 2157: 2154: 2152: 2149: 2147: 2144: 2142: 2139: 2137: 2134: 2132: 2129: 2127: 2124: 2122: 2119: 2117: 2114: 2112: 2109: 2107: 2104: 2102: 2099: 2097: 2094: 2092: 2089: 2085: 2082: 2080: 2077: 2075: 2072: 2070: 2067: 2065: 2062: 2060: 2057: 2055: 2052: 2050: 2047: 2045: 2042: 2041: 2040: 2037: 2035: 2032: 2030: 2027: 2025: 2022: 2020: 2017: 2015: 2012: 2010: 2007: 2005: 2002: 2000: 1999:Eco-investing 1997: 1995: 1992: 1990: 1989:Disinvestment 1987: 1985: 1982: 1980: 1977: 1975: 1972: 1970: 1969:Capital asset 1967: 1965: 1962: 1960: 1957: 1955: 1952: 1950: 1947: 1945: 1942: 1938: 1935: 1933: 1930: 1929: 1928: 1925: 1924: 1923: 1922: 1914: 1913: 1906: 1903: 1901: 1898: 1896: 1893: 1891: 1888: 1884: 1881: 1880: 1879: 1876: 1874: 1871: 1869: 1866: 1864: 1861: 1857: 1854: 1852: 1849: 1848: 1847: 1844: 1840: 1837: 1835: 1832: 1831: 1830: 1827: 1825: 1822: 1820: 1817: 1816: 1810: 1809: 1798: 1795: 1793: 1790: 1788: 1785: 1783: 1780: 1779: 1778: 1777: 1773: 1772: 1769: 1764: 1761: 1759: 1756: 1754: 1751: 1749: 1746: 1744: 1741: 1740: 1739: 1738: 1734: 1733: 1728: 1725: 1721: 1716: 1715: 1710: 1709: 1703: 1700: 1698: 1695: 1693: 1690: 1688: 1685: 1683: 1680: 1678: 1675: 1673: 1670: 1668: 1665: 1663: 1660: 1658: 1655: 1653: 1652:Participation 1650: 1648: 1645: 1643: 1640: 1638: 1635: 1633: 1632:Middle market 1630: 1628: 1625: 1623: 1620: 1618: 1615: 1613: 1610: 1608: 1605: 1603: 1600: 1598: 1595: 1593: 1590: 1588: 1585: 1583: 1580: 1578: 1575: 1573: 1570: 1568: 1565: 1563: 1562:Bulge bracket 1560: 1558: 1555: 1553: 1550: 1549: 1543: 1542: 1538: 1534: 1533: 1530: 1527: 1526: 1523: 1519: 1518: 1508: 1503: 1501: 1496: 1494: 1489: 1488: 1486: 1485: 1480: 1470: 1468: 1463: 1458: 1456: 1453: 1452: 1451: 1450: 1443: 1440: 1438: 1435: 1433: 1430: 1428: 1425: 1423: 1420: 1419: 1416: 1411: 1410: 1399: 1396: 1394: 1391: 1389: 1386: 1384: 1381: 1380: 1379: 1378: 1373: 1372:Financial law 1370: 1366: 1361: 1360: 1349: 1346: 1344: 1341: 1339: 1336: 1334: 1331: 1329: 1328:Basel Accords 1326: 1324: 1321: 1320: 1319: 1318: 1315: 1312: 1311: 1306: 1303: 1302: 1298: 1295: 1293: 1290: 1288: 1285: 1283: 1280: 1278: 1275: 1273: 1270: 1268: 1265: 1264: 1260: 1255: 1254: 1243: 1240: 1238: 1235: 1230: 1227: 1224: 1220: 1217: 1216: 1214: 1209: 1206: 1204: 1201: 1200: 1198: 1197: 1196: 1195: 1192: 1189: 1188: 1183: 1180: 1175: 1172: 1170: 1167: 1166: 1164: 1162: 1159: 1158: 1157: 1156: 1153: 1150: 1149: 1144: 1139: 1138: 1128: 1125: 1123: 1120: 1119: 1117: 1115: 1112: 1110: 1107: 1105: 1101: 1098: 1097: 1094: 1089: 1088: 1077: 1074: 1072: 1069: 1067: 1066:Tax inversion 1064: 1062: 1059: 1056: 1053: 1052: 1051: 1050: 1047: 1044: 1043: 1038: 1035: 1033: 1030: 1028: 1025: 1023: 1020: 1019: 1018: 1017: 1013: 1012: 1007: 1004: 1002: 999: 997: 994: 992: 989: 987: 984: 982: 979: 977: 974: 972: 969: 967: 964: 962: 959: 958: 957: 956: 952: 951: 946: 941: 940: 932: 931:Synthetic CDO 929: 927: 924: 922: 919: 917: 914: 912: 909: 907: 904: 903: 898: 895: 893: 890: 888: 884: 881: 880: 876: 873: 871: 868: 866: 863: 861: 858: 856: 853: 851: 848: 846: 843: 841: 838: 836: 833: 830: 826: 823: 821: 818: 816: 813: 811: 808: 806: 803: 802: 798: 793: 792: 781: 778: 776: 773: 771: 768: 767: 766: 765: 762: 759: 758: 753: 750: 748: 745: 741: 740:institutional 738: 737: 736: 733: 731: 728: 726: 723: 721: 718: 717: 716: 715: 712: 709: 708: 703: 700: 698: 695: 693: 690: 688: 685: 682: 678: 676: 673: 671: 668: 666: 663: 661: 658: 656: 653: 651: 648: 646: 645:Capital asset 643: 641: 638: 636: 633: 631: 628: 627: 626: 625: 622: 619: 618: 613: 608: 607: 603: 599: 598: 595: 592: 591: 587: 583: 582: 572: 567: 565: 560: 558: 553: 552: 550: 549: 544: 540: 536: 535: 534: 533: 526: 523: 521: 518: 517: 511: 510: 503: 500: 498: 495: 493: 490: 489: 483: 482: 475: 472: 470: 467: 465: 462: 460: 457: 456: 450: 447: 445: 442: 441: 437: 436: 429: 426: 424: 421: 419: 416: 414: 411: 409: 406: 404: 403:Protectionism 401: 399: 396: 394: 391: 389: 386: 384: 381: 380: 377: 372: 371: 364: 361: 359: 356: 354: 353:Monetary base 351: 347: 344: 342: 339: 338: 337: 334: 332: 331:Interest rate 329: 327: 326:Gold reserves 324: 322: 319: 315: 312: 311: 310: 309:Bank reserves 307: 306: 303: 298: 297: 290: 287: 283: 280: 279: 278: 275: 273: 270: 268: 265: 263: 260: 258: 255: 251: 248: 247: 246: 243: 239: 236: 235: 234: 231: 230: 227: 226:Fiscal policy 222: 221: 214: 211: 209: 206: 204: 201: 199: 196: 194: 191: 189: 186: 184: 181: 179: 176: 174: 171: 169: 166: 165: 162: 157: 156: 152: 148: 147: 144: 141: 140: 131: 128: 120: 109: 106: 102: 99: 95: 92: 88: 85: 81: 78: –  77: 73: 72:Find sources: 66: 62: 56: 55: 50:This article 48: 44: 39: 38: 33: 19: 5038: 5024:Pension fund 4949:Growth stock 4871:institutions 4736:Asset growth 4643: 4600: 4593:Description. 4588: 4575: 4561: 4550: 4538: 4522: 4512: 4498: 4494:, UNC Press. 4491: 4478: 4474: 4460: 4434:. Retrieved 4424: 4413:. Retrieved 4409: 4399: 4387:|title= 4367:. Retrieved 4360: 4355: 4344:. Retrieved 4340: 4330: 4319:. Retrieved 4317:. 2024-03-01 4309: 4300: 4294: 4283:. Retrieved 4279: 4270: 4258: 4246: 4234: 4222: 4213: 4184: 4177: 4168: 4156: 4145:. Retrieved 4141:the original 4131: 4119:. Retrieved 4117:(3): 277–296 4114: 4110: 4100: 4093: 4088: 4072: 4067: 4056: 4023: 4019: 4009: 4000: 3975: 3971: 3965: 3946: 3940: 3931: 3922: 3913: 3892: 3882: 3875: 3856: 3850: 3795: 3791: 3778: 3774: 3762: 3751: 3734: 3727: 3718: 3710: 3687: 3655: 3642: 3635: 3625: 3621: 3619: 3613: 3606: 3602: 3598: 3593: 3589: 3585: 3580: 3578: 3575:Users of GFS 3568: 3565:market value 3543: 3541: 3529: 3526: 3523: 3520: 3503: 3491: 3483: 3479: 3473: 3469: 3458: 3454: 3440: 3432: 3428: 3426: 3422: 3411: 3405: 3399: 3393: 3390: 3381: 3349: 3329: 3302: 3255: 3220:incorporated 3216:corporations 3136: 3129:indirect tax 3113:secessionist 3101:legal entity 3094: 3090: 3060: 3015: 2926:organization 2898:secessionist 2887: 2861: 2827: 2822: 2819: 2807: 2800: 2795: 2768:public works 2758: 2753: 2749: 2735: 2732: 2724: 2704: 2661: 2645: 2634: 2609: 2589:cost-benefit 2581: 2569:public goods 2558: 2542: 2538: 2499: 2450: 2449: 2324: 2283:participants 2156:Pension fund 1964:Asset growth 1959:Bank secrecy 1834:Bill payment 1753:Money-market 1723: 1706: 1587:Credit union 1368: 1297:Money supply 1282:Full-reserve 1267:Central bank 1142: 1127:Student loan 1102: / 1014:Transactions 825:Time deposit 711:Participants 640:Asset growth 376:Trade policy 363:Money supply 341:central bank 314:requirements 267:Fiscal union 168:Agricultural 142: 123: 114: 104: 97: 90: 83: 71: 59:Please help 54:verification 51: 5139:Toxic asset 5079:Stockbroker 5064:Speculation 5014:Mutual fund 5004:Market risk 4911:social work 4861:engineering 4706:Super angel 4566:Description 4503:Description 4490:, ( 1987). 4121:November 6, 4094:Government' 4026:: 101–125. 3771:Focus areas 3616:methodology 3346:Seigniorage 3340:Seigniorage 3264:, and make 3043:seigniorage 2987:Health Care 2924:, or other 2838:Public debt 2782:as well as 2772:public good 2754:produit net 2746:Physiocrats 2727:middle ages 2554:public good 2315:Market risk 2206:Toxic asset 2176:Speculation 2064:engineering 1602:Development 1582:Cooperative 835:Credit line 797:Instruments 692:Real estate 655:Derivatives 464:Tax revenue 4896:regulation 4876:management 4786:Divestment 4530:C.S. Shoup 4447:References 4436:2024-04-27 4415:2024-04-27 4369:2024-04-27 4346:2024-04-27 4321:2024-04-27 4285:2024-04-27 4147:2010-04-13 3978:(4): 426. 3677:employment 3360:face value 3317:securities 3278:government 3237:in India, 3226:Wealth tax 3150:Stamp duty 3125:direct tax 2942:See also: 2928:or group. 2784:copyrights 2760:Adam Smith 2716:land taxes 2676:vectigalia 2663:The Romans 2597:distortion 2500:Economist 2455:government 2288:regulation 1937:management 1932:allocation 1829:Electronic 1622:Industrial 1617:Investment 1597:Depository 1572:Commercial 1365:Regulation 1169:Operations 1122:Retirement 961:Accounting 845:Derivative 752:Speculator 584:Part of a 413:Trade bloc 388:Free trade 213:Policy mix 188:Investment 183:Industrial 87:newspapers 4925:(Fintech) 4866:inclusion 4856:economics 4851:deepening 4826:Financial 4570:contents. 4545:Abstract. 4477:(1974). 4040:1753-528X 3668:services. 3614:GFSM 2001 3594:GFSM 2001 3590:GFSM 2001 3586:GFSM 2001 3581:GFSM 2001 3544:GFSM 2001 3538:employer. 3441:GFSM 2001 3433:GFSM 2001 3429:GFSM 2001 3305:taxpayers 3280:; either 3222:entities) 3162:Sales tax 2918:religious 2914:corporate 2792:transport 2720:food rent 2707:feudalism 2692:sales tax 2601:budgeting 2494:stability 2463:economics 2268:Financial 2059:economics 2039:Financial 1905:BRICS PAY 1697:Wholesale 1692:Universal 1592:Custodian 1427:Recession 1388:ISO 31000 1071:Tax haven 945:Corporate 860:Insurance 855:Indemnity 761:Locations 650:Commodity 117:July 2008 5164:Category 4906:services 4831:analysis 4721:Bad debt 4587:(2000). 4521:, 1959. 4459:(1980). 4378:cite web 4208:glossary 4206:Eurostat 3801:See also 3738:taxation 3624:and the 3555:, and a 3368:banknote 3356:currency 3319:such as 3260:, issue 3197:Gift tax 3187:Road tax 2954:transfer 2922:academic 2910:citizens 2908:for the 2825:system. 2684:poll tax 2680:land tax 2655:. 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