This paper views fiscal policy as an instrument of sustainable development during ongoing economic transformation. Empirically testing fiscal policy sustainability, this study focuses on primary surplus to debt relation for two transition economies groups: net exporters and net importers. Although results suggest sustainability, mainly for net exporters, recent successes may not be sustainable in the near term, due to structural problems and debt accumulation among others. As a policy tool, this paper introduces a concept of fiscal net with alternative revenue sources. Overall fiscal policy in the CIS must be proactive and pragmatic for the sake of economic development and competitiveness. Proposed infrastructure development fund and strategic learning innovative system, among others, aligned with the real economy's demands, are just few examples of such sustainable fiscal policy targets.
- Inderscience Publishers
- Fiscal policy in select transition economies: opportunities for ...
Sustainable Biorefineries: An Important Research Topic
In recent years, substantial steps into the transition towards a biobased economy have been taken in order to reduce the reliance on imported oil and the emission of greenhouse gases. As far as Europe is concerned, Sweden, home to theEUBCE 2017in Stockholm, has been very successful in decoupling GHG emissions from economic growth: from 2000 to 2012, total GHG emissions decreased by 16% while overall GDP grew by about 30% (Figure 1). As a result, Sweden more than achieved its commitments to reduce GHG emissions,...
Healthy soil is essential to a circular economy
To achieve the Dutch government`s objective of realising a circular economy in the Netherlands, it is essential to maintain the productivity of the country`s farmland. Healthy soil produces renewable raw materials for biobased products. However, declining carbon levels in arable Dutch soil is inhibiting our ability to meet this objective, and continued global warming is standing in the way of a circular economy. Lijbert Brussaard, professor of Soil Biology and Biological Soil Quality at Wageningen University...
Sustainable use of nature is good for the economy
Nature provides all kinds of goods and services that offer economic opportunities, such as a water, food, building materials and recreation areas. However, this `natural capital` is under pressure due to the growing world population and increased economic prosperity. Businesses, civic organisations and governments are therefore looking for sustainable ways to profit from natural capital, now and in the future. While this is leading to various innovations, many opportunities are still being overlooked. It is time...
5 reasons sustainability will transform the global economy
Customers want it, regulations are moving toward it and investors are seeking it out. Strong crosswinds are in the global economy. The Fourth Industrial Revolution is here, with pervasive transparency, unlimited information access and accelerating disruptive technology and change. Rapid adaptation never has been more important as corporations spread globally, facing new regulatory and environmental challenges across their operations and supply chains. Security and immigration concerns are everywhere. Climate...
Op-Ed: Year of green finance nurturing economy
Finance ministers and central bank governors from G20 countries will meet in Shanghai under the leadership of the Chinese presidency. With so many issues on the table for the G20 to deliberate this year, it is telling that the Chinese presidency has chosen to prioritize green finance. This is a topic that is key to ensuring the global economy`s transition toward a more sustainable, inclusive pathway. It is also relevant in securing the underlying resilience and effectiveness of financial markets. Last year, the...