main objectives of public finance in underdeveloped country
Answers
Answer:
The goals or objectives of public finance in developing countries are those of economic policy as a whole: economic growth, internal and external stability, and the attainment of an appropriate distribution of income and wealth
Explanation:
ABSTRACT
Public finance is not just about money. It includes all aspects of public sector finances, the structure of the public sector and fiscal institutions whose work guided by government activity objectives and rationale. Earlier thinking considered progressive income taxes a “good” tax system for developing countries. More recently, the thinking emphasized securing revenues at lower rates from broader bases (consumption and income taxes). Increased globalization challenges national tax bases and make it even more important to improve local fiscal expertise and institutions in developing countries. The public finance system of any country is both path-dependent and context-specific, reflecting the outcome of complex social and political interactions between different groups in a specific institutional context established by history and state administrative capacity.