Public Finance in the ASEAN: Trend and Patterns
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Abstract
The governments of ASEAN member countries play an important role in the development or continuous development of their respective economies and improvement or continuous improvement of the quality of life of its people. Each government can utilize the fiscal tools of taxation, the budget, and borrowing to influence private sector investment and performance, and to direct the government’s fiscal programs and accompanying expenditures towards the promotion of the general welfare of society as a whole. Amidst international suggestion on any government to adopt the broad policies of privatization, liberalization, contracting out, decentralization and minimum intervention in the economy, a government’s fiscal role has never been more important and remains critical as it continuously endeavors to raise the quality of life of its people.
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