Fiscal Sustainability and Competitiveness in Europe and Asia
This book examines key issues and policy concerns relating to fiscal sustainability and competitiveness in European and Asian economies. In addition to estimating the extent of fiscal capacity or lack thereof for these economies, the authors supplement th
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Fiscal Sustainability and Competitiveness in Europe and Asia Ramkishen S. Rajan Adjunct Senior Research Fellow, Asia Competitiveness Institute (ACI) and Visiting Professor Lee Kuan Yew School of Public Policy, National University of Singapore and Professor, School of Public Policy, George Mason University, USA
Tan Khee Giap Co-Director, Asia Competitiveness Institute (ACI) and Associate Professor, Lee Kuan Yew School of Public Policy, National University of Singapore
and
Tan Kong Yam Co-Director, Asia Competitiveness Institute (ACI) and Professor of Economics, School of Humanities and Social Sciences, Nanyang Technological University, Singapore
© Ramkishen S. Rajan, Tan Khee Giap and Tan Kong Yam 2014 Softcover reprint of the hardcover 1st edition 2014 978-1-137-40696-5 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6–10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2014 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and other countries
ISBN 978-1-349-48808-7 DOI 10.1057/9781137406972
ISBN 978-1-137-40697-2 (eBook)
This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. Logging, pulping and manufacturing processes are expected to conform to the environmental regulations of the country of origin. A catalogue record for this book is available from the British Library. Library of Congress Cataloging-in-Publication Data Fiscal sustainability and competitiveness in Europe and Asia / Ramkishen S. Rajan, Kong Yam Tan, Khee Giap Tan. pages cm Summary: “Over the last two decades the fiscal positions of many advanced economies have deteriorated significantly, leading to ever-growing levels of public debt and mounting concerns about debt sustainability. Fiscal positions are set to weaken further on account of the worsening demographics which are likely to place upward pressure on public social expe
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