Fiscal Policy as Component Part of Public Finance: A Theoretical Survey
Otaha Jacob Imo
Abstract
The aim of this paper is to examine the extent of government
intervention in the economy through its fiscal instrument
which in itself is the core instrument of public finance, since
every national government, whether developed or
underdeveloped, requires such intervention for its
development process. The paper also looks at the
controversy between monetarist and Keynesian schools
over the rationale for government intervention in the
economy as well as some major problems militating against
the smooth operation of public finance in Nigeria. The paper
also compares public finance with its private counterpart —
the business finance — and summarizes the decision making
consideration in both sectors of the economy.
Key words:
Fiscal, Policy, Public Finance, Theoretical Survey