Onaran, Özlem ORCID: https://orcid.org/0000-0002-6345-9922 and Oyvat, Cem ORCID: https://orcid.org/0000-0002-5097-0246 (2025) Fiscal policy for sustainable development: achieving social and ecological goals. In: Grown, Caren, (ed.) Innovations in public finance: A new fiscal paradigm for gender equality, climate adaptation, and care. Brookings Center for Sustainable Development compendium, Washington, D.C..

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Abstract

Public spending on care services and infrastructure generates very strong fiscal multipliers—raising GDP by around 11% and employment by 6% after five years—effectively expanding fiscal space as higher national income brings in greater revenues.
Such investments should be treated as public investment in social infrastructure rather than current spending, requiring long-term strategic financing, patient capital, and potential borrowing
Progressive taxation of wealth and income is needed to fund these programs while reducing inequality and strengthening fiscal sustainability. This article is part of the Brookings Center for Sustainable Development compendium “Innovations in public finance: A new fiscal paradigm for gender equality, climate adaptation, and care.” To learn more about the compendium’s chapters, cross-cutting themes, and policy-relevant insights, see the “Introduction: Six themes and key recommendations for embedding gender equality, care, and climate in fiscal policy.”

Item Type:	Book Section
Additional Information:	Format: This is a compendium featuring thirteen essays, including a Preface by John W. McArthur and an Introduction by Caren Grown & Laura Martínez Rodríguez, outlining six cross-cutting recommendations. - MP
Uncontrolled Keywords:	public finance, gender, care, green economy
Subjects:	H Social Sciences > H Social Sciences (General)
Faculty / School / Research Centre / Research Group:	Greenwich Business School > Political Economy, Governance, Finance and Accountability (PEGFA) Journal of Economic Literature Classification > Political Economy, Governance, Finance and Accountability (PEGFA) Greenwich Business School > Political Economy, Governance, Finance and Accountability (PEGFA) > Greenwich Political Economy Research Centre (GPERC) Journal of Economic Literature Classification > Political Economy, Governance, Finance and Accountability (PEGFA) > Greenwich Political Economy Research Centre (GPERC) Journal of Economic Literature Classification > Greenwich Political Economy Research Centre (GPERC) Greenwich Business School > School of Accounting, Finance and Economics
Last Modified:	11 Dec 2025 09:49
URI:	https://gala.gre.ac.uk/id/eprint/51929

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