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Global Health Challenges and the World Economy: Assessing the Benefits of Fiscal Policy Cooperation B253

Year: 2023

Type: article

Abstract: In the midst of the COVID-19 health crisis, many observers advocated the implementation of a global strategy to promote the production and equitable distribution of vaccines, prevent the emergence of infectious diseases, and reduce the risk of future pandemics. But what are the implications of this strategy for national tax and spending policies, and the world economy? What is the role, if any, of fiscal policy cooperation in that context? Dwelling on recent analytical research, it is argued that cooperation can be welfare-improving for the world at large, even when taxation is distortionary and governments face a trade-off between financing local public goods (such as infrastructure) and global public goods (vaccines).

Source: HAL

Author: Agénor, Pierre-Richard

Institutions: University of Manchester, Fondation pour les Études et Recherches sur le Développement International

Language: English

Topic: Fiscal Policies and Political Economy

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Partnerships for the goals, Good health and well-being

Open Access status: green

OpenAlex ID: W6982039443

FWCI:

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Related to: 10