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Budget Deficits and Economic Activity in Asia - Kanhaya Gupta

Budget Deficits and Economic Activity in Asia

Hardcover

Published: 7th November 1991
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The growth and persistence of government budget deficits are a cause of increasing concern in both developed and developing countries. This situation has provoked extreme responses: some economists believe that they have devastating effects, while others maintain that they have no real impact at all.
"Budget Deficits and Economic Activity in Asia" examines both of these claims in the context of the Asian economies. After testing for the feasibility of the current levels of budget deficits and therefore of the current fiscal policies, the study turns to a quantification of the effects on seigniorage, money supply, inflation, aggregate demand and interest rates. Ten countries including India, South Korea, Malaysia, Singapore, Taiwan and Thailand are studied. The author finds that budget deficits are monetized to a considerable extent, thus impairing or at least reducing the ability of the monetary authority to pursue expenditures in most of the countries covered.
The author partially supports the widespread view that budget deficits are inflationary because they increase the money supply. He gives more emphasis to the apparent effects on interest rates, and finds these to be positive. As the processes of fiscal deregulation accelerate, interest rates seem set to become even more sensitive to the behavior of budget deficits.

." . . this is a pioneering systematic study that analyzes frequently cited effects of fiscal deficits in the selected Asian countries. It will be useful as a reference book for graduate students in fiscal economics and economic development courses, and is highly recommended for graduate collections." -"Choice

Introduction
A Review of the Record
Sustainability of Perpetual Deficits
Deficits and Seigniorage
Deficits and Money Supply
Deficits and Inflation
Deficits and Aggregate Demand
Deficits and Interest Rates
Conclusions
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780415055406
ISBN-10: 0415055407
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 224
Published: 7th November 1991
Publisher: Taylor & Francis Ltd
Country of Publication: GB
Dimensions (cm): 21.6 x 14.0  x 2.18
Weight (kg): 0.36
Edition Number: 1