Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/152853
Authors: 
Hallerberg, Mark
Strauch, Rolf
von Hagen, Jürgen
Year of Publication: 
2004
Series/Report no.: 
ECB Working Paper 419
Abstract: 
This paper examines the development of fiscal rules and budget procedures in EU countries, and their impact of public finances since the mid-1980s. It presents a new data set on institutional reforms and their impact in Europe. Empirical pattern confirm our prediction that more stringent fiscal rules exist under large coalition governments, while the centralisation of budgetary procedures is the main form of fiscal governance elsewhere. In addition, the centralisation of procedures does not restrain public debt in countries more prone to a rules-based approach, whereas more stringent fiscal rules seem to support fiscal discipline in almost all EU countries.
Subjects: 
budgetary procedures
European public finances
fiscal rules
public indebtedness
JEL: 
H11
H61
H62
Document Type: 
Working Paper

Files in This Item:
File
Size
877.14 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.