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2018 | OriginalPaper | Chapter

8. Conclusion

Authors : Maksym Ivanyna, Alex Mourmouras, Peter Rangazas

Published in: The Macroeconomics of Corruption

Publisher: Springer International Publishing

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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.

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previous chapter The Political Economy of Fiscal Reforms
Footnotes
1
See a survey of these theories by Ophlus (2012).
 
2
Woodruff (1993) offers an introduction to the work of Thucydides.
 
3
For a history of the Western Roman Empire see, for example, Ward-Perkins (2005), Woolf (2012), or the classic by Gibbon, perhaps in abridged form, Gibbon (2003). For comparisons to the United States, see Murphy (2007), Smil (2010), and Hubbard and Kane (2013).
 
4
The two major exceptions was some expansion into Britain—its proximity to the coast of the Roman province of Gaul made it just too tempting—and Dacia (Romania)—when emperor Trajan just had to prove himself to be like his hero Alexander the Great.
 
5
See Smil (2010, pp. 139–140) and Woolf (2012, pp. 190–191).
 
6
See MacMullen (1988, pp. ix and 42).
 
7
See Hubbard and Kane (2013, p. 102).
 
8
References for the Byzantine Empire include Norwich (1999), Brownsworth (2009), and Wickham (2009).
 
9
For an account of the Ottoman Empire see Finkel (2005).
 
10
Ferguson (2002) offers a history of the British Empire the blends the economic and political dimensions.
 
11
See Fieldhouse (1973) for an account of how Europeans were compelled, often reluctantly because of the expense, to formally colonize countries because of competition over control and power.
 
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Metadata
Title
Conclusion
Authors
Maksym Ivanyna
Alex Mourmouras
Peter Rangazas
Copyright Year
2018
Book
The Macroeconomics of Corruption

Print ISBN: 978-3-319-68665-3

Electronic ISBN: 978-3-319-68666-0

Copyright Year: 2018

DOI
https://doi.org/10.1007/978-3-319-68666-0_8