The politics of fiscal austerity: Democracies and hard choices
The sustainability of national economies will ultimately require a balance between near-term growth and longer-term fiscal consolidation. The question that is now being raised is whether such actions are politically sustainable. As the OECD area begins to emerge from the recession, another question...
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| Other Authors: | |
| Format: | Electronic Book Chapter |
| Language: | English |
| Published: |
Paris
OECD Publishing
2013
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| Subjects: | |
| Online Access: | DE-384 DE-473 DE-824 DE-29 DE-739 DE-355 DE-20 DE-1028 DE-1049 DE-521 DE-861 DE-898 DE-92 DE-91 DE-573 DE-19 Volltext |
| Summary: | The sustainability of national economies will ultimately require a balance between near-term growth and longer-term fiscal consolidation. The question that is now being raised is whether such actions are politically sustainable. As the OECD area begins to emerge from the recession, another question is whether democratic countries can take pro-active leadership before a crisis forces their hand. This article examines the politics of fiscal consolidations in OECD countries in recent years, assessing whether and how leaders attempted to resolve the tensions between the fiscal and electoral imperatives. JEL classification: H610, H620, H630, H680, P160 Keywords: Fiscal consolidation, sustainability of public finances, deficit, debt, Great Recession, financial crisis, political efficacy, democratic institutions, fiscal austerity, economic growth, role of political institutions, budget cuts, fiscal rules, political outcomes |
| Physical Description: | 1 Online-Ressource (34 Seiten) 21 x 28cm |
| DOI: | 10.1787/budget-13-5k3w6lk42l33 |
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| spelling | Posner, Paul L... Verfasser aut The politics of fiscal austerity Democracies and hard choices Paul L. Posner and Matthew Sommerfeld Paris OECD Publishing 2013 1 Online-Ressource (34 Seiten) 21 x 28cm txt rdacontent c rdamedia cr rdacarrier The sustainability of national economies will ultimately require a balance between near-term growth and longer-term fiscal consolidation. The question that is now being raised is whether such actions are politically sustainable. As the OECD area begins to emerge from the recession, another question is whether democratic countries can take pro-active leadership before a crisis forces their hand. This article examines the politics of fiscal consolidations in OECD countries in recent years, assessing whether and how leaders attempted to resolve the tensions between the fiscal and electoral imperatives. JEL classification: H610, H620, H630, H680, P160 Keywords: Fiscal consolidation, sustainability of public finances, deficit, debt, Great Recession, financial crisis, political efficacy, democratic institutions, fiscal austerity, economic growth, role of political institutions, budget cuts, fiscal rules, political outcomes Finance and Investment Governance Sommerfeld, Matthew ctb https://doi.org/10.1787/budget-13-5k3w6lk42l33 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Posner, Paul L.. The politics of fiscal austerity Democracies and hard choices Finance and Investment Governance |
| title | The politics of fiscal austerity Democracies and hard choices |
| title_auth | The politics of fiscal austerity Democracies and hard choices |
| title_exact_search | The politics of fiscal austerity Democracies and hard choices |
| title_exact_search_txtP | The politics of fiscal austerity Democracies and hard choices |
| title_full | The politics of fiscal austerity Democracies and hard choices Paul L. Posner and Matthew Sommerfeld |
| title_fullStr | The politics of fiscal austerity Democracies and hard choices Paul L. Posner and Matthew Sommerfeld |
| title_full_unstemmed | The politics of fiscal austerity Democracies and hard choices Paul L. Posner and Matthew Sommerfeld |
| title_short | The politics of fiscal austerity |
| title_sort | the politics of fiscal austerity democracies and hard choices |
| title_sub | Democracies and hard choices |
| topic | Finance and Investment Governance |
| topic_facet | Finance and Investment Governance |
| url | https://doi.org/10.1787/budget-13-5k3w6lk42l33 |
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