The Israeli Economy, 1995-2017: Light and Shadow in a Market Economy

Cambridge University Press, 2/18/2021
EAN 9781108820851, ISBN10: 1108820859

Paperback, 640 pages, 22.9 x 15.2 x 3.7 cm
Language: English
Originally published in English

This book describes and analyses developments in the Israeli economy from 1995 to 2017. During this period, inflation was vanquished, the deficit in the balance of payments turned into a surplus, the public debt to GDP ratio sharply decreased, and unemployment has declined to an historical low. Nevertheless, the economy still suffers from many maladies: the productivity level is among the lowest in the developed world, and inequality has generally been on the rise. In the face of these threats to future growth and social cohesiveness, the question arises: has the reliance on market forces gone too far, and has the government retreated from its traditional tasks, tasks the private sector cannot (or does not) perform.

1. Lights and Shadows in the Market Economy Avi Ben-Bassat, Reuben Gronau and Asaf Zussman
Part I. Government Policy and Macroeconomic Developments
2. Fiscal Policy
The Journey Towards a Low Debt to GDB Ratio and Smaller Government Adi Brender
3. Israel's Taxation Policy Michel Strawczynski
4. Inflation and Monetary Policy Sigal Ribon
5. From Deficits to Surpluses
Israel's Current Account Reversal Leonardo Leiderman and Victor Bahar
6. Defense and the Economy, 1990-2016 Esteban F. Klor and Asaf Zussman
Part II. Reforms and their Effects
7. Developments in the Israeli Capital Market 1995–2017
Toward an Efficient Financial Intermediation Doron Avramov, Efrat Dressler and Lior Metzker
8. The Reforms in the Israeli Pension System 1995 – 2015 Reuben Gronau and Avia Spivak
9. Aggregate Concentration in Israel, 1995–2015 Konstantin Kosenko
10. Taxation of Natural Resources Eytan Sheshinski
Part III. Investment in Human Capital, Productivity, and Inequality
11. Why is Labor Productivity in Israel so Low? Moshe Hazan and Shay Tsur
12. Income Inequality in Israel
A Distinctive Evolution Momi Dahan
13. The Israeli Labor Market, 1995–2015
14. Economics of Education in Israel
Inputs, Outputs and Performance Dan Ben-David and Ayal Kimhi
15. Economic Aspects of the Healthcare System in Israel Gabi Bin Nun and Gur Ofer
16. The Arab Economy in Israel Nitsa (Kaliner) Kasir and Eran Yashiv
Part IV. Key Issues in Various Sectors
17. The High-Tech Sector Neil Gandal, Stefania Roccas Gandal and Nadav Kunievsky
18. The Israeli Housing Market
Structure, Boom and Policy Response David Genesove
19. Policy Tools to Promote Environmental Quality in Israel
a Comparison of Economic Tools with Direct Regulation Doron Lavee
Index.