Focusing on the evolution of state-level budget stabilization policies in the U.S. from 1946 to 2008, this comprehensive survey examines the interplay between law, politics, and economics. It delves into the implications of these policies on government operations and public services, providing an in-depth analysis of their impact on the functioning of state governments over time.
Focusing on China's financial reforms, the book analyzes the ongoing efforts to implement a local real property tax, a process that has been evolving for over a decade without clear resolution. It aims to provide an independent viewpoint on this pressing public policy while reflecting on the challenges encountered. Additionally, the research seeks to share insights from China's experience with other developing and transitional nations, helping them navigate potential obstacles in modernizing their own taxation systems.
The book provides an in-depth examination of the local property tax's development and implementation in China, initiated in response to soaring real estate prices and economic challenges post-Asian financial crisis. It highlights the government's efforts to regulate the property market through pilot programs, emphasizing the tax's potential to reshape public finance and governance. By adopting a public choice perspective, the authors advocate for the property tax as a tool for addressing socio-economic issues, making it a vital resource for researchers and policymakers interested in fiscal reforms.
This book is the first comprehensive, full-scale treatment of the politics, law, and economics with regard to the policies and policy instruments for budget stabilization at the local level. It examines budget stabilization in the United States from the 1910s to 2010 (from adoption of public budgeting in this country through the Great Recession). In addition, it provides details on the methods and results of empirical tests of the effects of budget stabilization instruments on government operations, key/basic services provision, and some other aspects of social and economic life at the local level, including full-purpose governments (county, metro city, municipality, township, and village) as well as special (single-) purpose governments (like school districts and transportation districts). This book dissects an important and pressing issue in public financial administration, analyzes a lesson that has been in the learning process, especially in the United States, and identifies theoretical threads for scholarly refinement, which will be put into specific contexts of policy design and implementation. This book will be of interest to scholars in political science, economics, public choice and in public administration, where it will also appeal to policy-makers.