Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe

Released on by Ananya Kotia
preview-18

  • Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe Book Detail

  • Author : Ananya Kotia
  • Release Date : 2016-04-12
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 37
  • ISBN 13 : 1484328175
  • File Size : 77,77 MB
DOWNLOAD BOOK

Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe by Ananya Kotia PDF Summary

Book Description: This paper studies how fiscal rules interact with the intergovernmental fiscal framework to foster fiscal discipline among European subnational governments. We use political variables describing the fiscal attitudes of the central government as instruments to obtain consistent estimates of the impact of subnational fiscal rules on fiscal balances. The results suggest that the discipline-enhancing effect of fiscal rules is weaker when there are large “vertical fiscal imbalances” that is, large differences in revenue and spending assignments across the different levels of government. These findings imply that separate reforms to reduce excessive vertical fiscal imbalances complement a rules-based fiscal framework that is aimed at fostering fiscal discipline.

Disclaimer: www.yourbookbest.com does not own Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

How to Select Fiscal Rules

How to Select Fiscal Rules

File Size : 57,57 MB
Total View : 351 Views
DOWNLOAD

This note provides guidance on how to select fiscal rules in a wide range of economies, including advanced, emerging market, and developing economies. The princ

Second-Generation Fiscal Rules

Second-Generation Fiscal Rules

File Size : 31,31 MB
Total View : 6458 Views
DOWNLOAD

Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new