Asymmetric Information, Entrepreneurial Activity, and the Scope of Fiscal Policy in an Open Regional Economy

2010 ◽  
Author(s):  
Amitrajeet A. Batabyal ◽  
Peter Nijkamp
Keyword(s):  
Fiscal Policy ◽  
Asymmetric Information ◽  
Regional Economy ◽  
Entrepreneurial Activity

scholarly journals The Perverse Consequences of Policy Restrictions in the Presence of Asymmetric Information

2016 ◽  
Vol 5 (3) ◽  
pp. 411-425 ◽  
Author(s):  
Rafael Hortala-Vallve ◽  
Valentino Larcinese
Keyword(s):  
Decision Making ◽  
Fiscal Policy ◽  
Asymmetric Information ◽  
Numerical Simulations ◽  
Time Inconsistency ◽  
Political Information ◽  
Institutional Constraints ◽  
Collective Decision Making ◽  
Policy Options ◽  
Coordination Failures

Institutions have the power to limit a government’s policy options. Policy restrictions are often used as solutions to coordination failures or time inconsistency problems. However, policy constraints can have significant drawbacks and these disadvantages have, to date, been overlooked in the literature. When institutional constraints tie a government’s hands, citizens will have less incentive to become informed about politics and participate in collective decision-making. This is because policy restrictions lower the private returns of political information. A fiscal policy restriction, for example, may decrease redistribution by lowering a poorer voters’ acquisition of political information. We illustrate our theoretical findings with numerical simulations and find that in one in three cases these policy restrictions make poorer voters worse off.

scholarly journals ALTAI TERRITORY: CONSEQUENCES OF THE COVID-19 PANDEMIC AND DIRECTIONS FOR THEIR LEVELING

2021 ◽  
pp. 100-109
Author(s):  
A. Ya. Trotskovskiy ◽  
E. N. Sabyna
Keyword(s):  
Infectious Diseases ◽  
Regional Economy ◽  
Current Situation ◽  
The State ◽  
Entrepreneurial Activity ◽  
Financial Resources ◽  
Passenger Transportation ◽  
Medical Institutions ◽  
Additional Equipment ◽  
Regional Authorities

The coronavirus pandemic has an impact not only on the morbidity and mortality from infectious diseases, but also on an increase in unemployment and drop in income, as well as on all areas of life as result of self-isolation and quarantine measures. Many analytical materials provide an analysis of the state of the economic sphere in our country, but, at the same time, there are very few publications that would relate to the socio-economic situation of the regional economy. The pandemic has impacted all organizations directly or indirectly, but tourism, hospitality, pharmaceuticals, passenger transportation, catering, sports and culture are particularly affected. The current situation demanded from the state authorities and local self-government significant organizational and financial resources associated with both minimizing losses in the economy: supporting small and mediumsized businesses, the population, and organizing the work of medical institutions experiencing an increased load in terms of reprofiling beds, equipping hospitals with additional equipment, consumables. The authors analyzed the main measures taken by both federal and regional authorities to maintain entrepreneurial activity and the population in the current situation in the Altai Territory. The article provides recommendations aimed at minimizing the consequences of COVID-19.

scholarly journals The Effect of Fiscal Policy and Foreign Direct Investment on Regional Economy in Indonesia

2020 ◽  
Vol 21 (1) ◽  
Author(s):  
Agus Tri Basuki ◽  
Yunastiti Purwaningsih ◽  
Albertus Maqnus Soesilo ◽  
Mulyanto Mulyanto
Keyword(s):  
Foreign Direct Investment ◽  
Fiscal Policy ◽  
Direct Investment ◽  
Regional Economy

scholarly journals Models of University Interaction with the Economy and Social Sphere of the Region

2019 ◽  
Vol 28 (7) ◽  
pp. 9-18 ◽  
Author(s):  
E. Ya. Kogan ◽  
N. Yu. Postalyuk ◽  
T. G. Kuteinitsyna
Keyword(s):  
Higher Education ◽  
Russian Federation ◽  
Regional Economy ◽  
Higher Education Institutions ◽  
Business Environment ◽  
Entrepreneurial Activity ◽  
Technological Support ◽  
Social Sphere ◽  
The Russian Federation ◽  
The Impact

The purpose of this work is to summarize and typologize ways and forms of organizing the interaction between the domestic system of higher education and regional markets. The authors focus on the forms of interaction organization between higher education institutions and labor market at the regional level associated with their regional specifics. The basic principles of interaction between regional systems of higher education and business community (focus on meeting the needs of the economy, collegial, open and mutually beneficial nature of cooperation) and the existing experience of various subjects of the Russian Federation are discussed, taking into account the specifics of their own regional situation. The article dwells on the characteristics of the current level of innovation and entrepreneurial activity of Russian universities, systematizes the practices coordinating the needs of the economy and the organization of higher education in the field of personnel and technological support of the regional economy. The authors discuss the models of joint activities of universities, business communities and regional authorities institutionalization in the interests of socio-economic development of the subject of the Russian Federation, as well as two major components of the impact of higher education on the economy and social sphere of the region, namely the adequate staffing for the development of the region and the commercialization of R & D / R & D products of universities in the innovation sphere of the regions. It is shown that the level of regional involvement of universities in the development of the business environment, projects and programs that operate in the interests of local communities is different, and its institutionalization is diversified. In this connection, it is proposed to harmonize the needs of the economy and the activities of universities in the field of meeting personnel demands and developing new production technologies, combining the efforts of the executive authorities and specialized intermediary structures. The article argues the necessity of the formation of a specialized interface in the structure of a higher education institution that ensures the orientation of scientific and educational activities of higher education institutions towards the prospective demands of the regional economy. 

scholarly journals Simulation of Taxation of Enterprises

2018 ◽  
Vol 7 (4.3) ◽  
pp. 456
Author(s):  
Olga Ievsieieva ◽  
. .
Keyword(s):  
Regression Analysis ◽  
Fiscal Policy ◽  
Regional Economy ◽  
Agricultural Sector ◽  
Paired Comparison ◽  
Regression Equation ◽  
Investment Projects ◽  
Correlation And Regression Analysis ◽  
Actual Amount ◽  
Scientific Rationale

In the article, a taxation methodology is proposed for enterprises of the agricultural sector of the economy which allows forecasting tax revenues. The model is based on the correlation and regression analysis. The author suggests using the paired comparison and prioritization methods for the scientific rationale of the choice of the model. The effectiveness of the company's fiscal policy is determined based on the value of the coefficient, which is calculated as the ratio of the actual amount of collected taxes to their amount obtained by calculation using the regression equation. The methodology can be used by the managers of the agricultural sector of the economy to compare the performance of the enterprises and the rationale for incentives. The utilization of the results of the analysis is reasonable for justification of investment projects with the objective of developing the agricultural sector of the regional economy.   

scholarly journals ENTREPRENEURIAL ACTIVITY IN THE REGIONAL ECONOMY: BASED ON PUBLIC-PRIVATE PARTNERSHIP

2020 ◽  
Vol 9 (4) ◽  
pp. 95-105
Author(s):  
Yury V. Korechkov ◽  
Keyword(s):  
Regional Economy ◽  
Public Private Partnership ◽  
State Regulation ◽  
Regulatory Framework ◽  
Entrepreneurial Activity ◽  
Financial Resources ◽  
Private Partnership ◽  
Economic Mechanism ◽  
The Public ◽  
Infrastructure Project

The article examines the theoretical aspects of the development of entrepreneurial activity based on public-private partnership (PPP) in the regional economy. The organizational and economic mechanism of public-private partnership development in the regional economy is shown. Its main elements include: justification of the conditions for using financial resources for a PPP infrastructure project; creation of organizational bases for implementing the public-private partnership model; implementation of a set of management functions (planning, organization, motivation and control) in the conditions of the entire investment cycle; achieving goal setting and ensuring the effectiveness of the PPP infrastructure project in the interaction of the state and business. It is proved that the process of implementing public-private partnership includes elements of institutional support for this system: regulatory support for the PPP Institute; formation of a system of state regulation of relations in the field of publicprivate partnership; formation of an organizational and economic mechanism for managing the development of public-private partnership in the regional economy. It is revealed that the institutional regulatory framework in the regional economy involves the creation of a regulatory framework for the functioning of the system of interaction of public authorities and business structures, forming an open competitive environment for public-private partnership, identification of the openness and transparency of the system of relations of public-private partnerships. It is shown that the use of the public-private partnership mechanism will ensure the necessary growth rates in the regional economy. Implementation of infrastructure projects is one of the forms of avoiding “institutional traps” in the context of crisis situations in recent years. It is concluded that a necessary condition for the effective implementation of a regional public-private partnership PPP project is to find the necessary financial resources and ways to use them most effectively for the socio-economic development of the region.

The Impact of Budget and Fiscal Policy on Entrepreneurial Activity and Country's Competitiveness

2019 ◽  
pp. 280-298
Author(s):  
Yuriy Holynskyy ◽  
Irina Onyusheva
Keyword(s):  
Economic Development ◽  
Fiscal Policy ◽  
National Economy ◽  
European Countries ◽  
Entrepreneurial Activity ◽  
State Control ◽  
Fiscal Institutions ◽  
Social And Economic Development ◽  
Business Entities ◽  
The Impact

Ukraine's economy, as compared to other European countries, is lagging behind. An unstable political situation, significant tax pressure, various administrative barriers, complexity of tax administration and with obtaining permits, technical regulation, certification and standardization, frequent sudden inspections by state control bodies, limited opportunities for the use of financial and credit resources, weakness of material, technical, financial, managerial, and personnel components of business entities – all these factors do not promote the entrepreneurial initiative in this country. The key precondition for raising the prosperity level and effective social and economic development is strengthening the competitiveness of the national economy through the coordinated work of the state and its budget and fiscal institutions. This study reveals the theory and the methodology of the formation and implementation of fiscal policy in Ukraine. Peculiarities in the development of the entrepreneurial environment in Ukraine are analyzed, and fiscal mechanisms are defined with the purpose of activating further entrepreneurship development.

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