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Title:Does globalization restrict budgetary autonomy? A multidimensional approach PDF Logo
Authors:Heinemann, Friedrich
Issue Date:1999
Series/Report no.:ZEW Discussion Papers 99-29
Abstract:Does globalization restrict the leeway for national budgetary policy? With the help of cluster and discriminant analysis this study provides evidence on the basis of the experience of OECD countries since the 1970s. Four budgetary dimensions are included in the analysis: tax structure, expenditure structure, public debt and budget size. Globalization as a potential driving force for changes in government finance is identified in form of variables on the existence of capital and current account restrictions, on the exposure to international trade and the exchange rate regime. The results suggest that globalization does indeed matter for government budgets. However, substantial room for an individual national policy particularly in regard to expenditure structure and public debt is left.
Subjects:Fiscal Policy
Tax Competition
Globalization
Cluster Analysis
Discriminant Analysis
JEL:H87
H60
Document Type:Working Paper
Appears in Collections:ZEW Discussion Papers
Publikationen von Forscherinnen und Forschern des ZEW

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