Budget policy in relation to the trade cycle: lecture III
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Chafanel;United Nations. Economic Commission for Africa. African Institute for Economic Development and Planning(IDEP);
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At our first meeting we noted that the modern budget is a powerful means of intervening in the nation's economic life; it is therefore natural that attempts should be made to use this tool to iron out the trade cycle and particularly to counteract the depression which shook the liberal economies in the fairly recent past. This dynamic effect is made feasible because of the considerable proportion of the national income which the budget of a modern state represents and because the principle of budget neutrality has been dropped in favor of more active concepts. After considering the possible effects of the budget on the conditions for achieving financial equilibrium, we will rapidly review the various experiments in counter- cyclical budget policy.
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“Chafanel; United Nations. Economic Commission for Africa. African Institute for Economic Development and Planning(IDEP) Budget policy in relation to the trade cycle: lecture III. Dakar. © UN. IDEP. https://hdl.handle.net/10855/42447”Collections
- Development Finance [1556]