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ID:
150920
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| Summary/Abstract |
In 2014, the Portuguese government appointed a Commission for Environmental Tax Reform that formulated a carbon-tax proposal designed to achieve three dividends: to help Portugal meet the European Union's target for emissions reductions by 2030, to boost long-term employment and GDP above their pre-carbon-tax levels, and to strengthen public finances by lowering public indebtedness. A key feature of this proposal was a judicious set of mixed strategies to recycle all carbon-tax revenues back into the economy. In this note, we show how the carbon tax that the Portuguese Parliament eventually approved deviated from such guidelines, and ultimately failed to achieve the triple dividend. We argue that authorities need to quickly amend the existing legislation to avoid this misguided attempt turning into a missed opportunity to improve environmental, macroeconomic, and fiscal outcomes.
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| 2 |
ID:
155846
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| Summary/Abstract |
To overcome the Great Recession that started in 2008, the European Union (EU) has opted for a strategy that combines austerity-driven fiscal and experimental ‘growth-enhancing’ research, development, and innovation (RDI) policies supported by different coordination mechanisms. We analyse the experiences of four Central and Eastern European economies—the Czech Republic, Estonia, Poland, Slovenia—in implementing this strategy. Given the weak policy capacities both in the EU institutions and CEE economies to draft and coordinate such novel RDI policies, we find that the implementation of this strategy is more challenging under the current EU fiscal and economic policy coordination system than assumed by the EU.
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