Conclusion

Maksym Ivanyna, Alex Mourmouras and Peter Rangazas
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Maksym Ivanyna: Joint Vienna Institute

Chapter 8 in The Macroeconomics of Corruption, 2018, pp 267-283 from Springer

Abstract: Abstract We have offered an introduction to the political economy of fiscal policy in a macroeconomic context where the main focus is long-run economic growth and prosperity. The models developed were applied to important real-world issues such as economic development, income inequality, and fiscal crises. This final chapter summarizes the main results of the analysis by discussing how fiscal policy contributes to answering the five overriding questions provided in the introduction. We also suggest that the problem of good governance has always been with us, driven throughout history by a common set of human characteristics. The challenge of enduring success is to first recognize these human failings and then to create institutions that provide the needed checks on behavior.

Date: 2018
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DOI: 10.1007/978-3-319-68666-0_8

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