Academically,the intention of fiscal policy is to stabilize the macro economy by rationally arranging fiscal revenue and expenditure as well as the gap between the two.It is since the Asian Financial Crisis in the lat...Academically,the intention of fiscal policy is to stabilize the macro economy by rationally arranging fiscal revenue and expenditure as well as the gap between the two.It is since the Asian Financial Crisis in the late 1990s that China took the initiative to adopt fiscal policy to stabilize macro economy.China’s fiscal policy has manifested many features distinctly different from the paradigms in Western text books,showing unique Chinese characteristics.For instance,the Western fiscal policy could be contractionary,neutral or expansionary,while in China it is either prudent or proactive.Since 1998,China has remained proactive except in 2005-2007.展开更多
文摘Academically,the intention of fiscal policy is to stabilize the macro economy by rationally arranging fiscal revenue and expenditure as well as the gap between the two.It is since the Asian Financial Crisis in the late 1990s that China took the initiative to adopt fiscal policy to stabilize macro economy.China’s fiscal policy has manifested many features distinctly different from the paradigms in Western text books,showing unique Chinese characteristics.For instance,the Western fiscal policy could be contractionary,neutral or expansionary,while in China it is either prudent or proactive.Since 1998,China has remained proactive except in 2005-2007.
