Breaking the Impediments to Budgetary Reforms: Evidence From Europe
Under what conditions are budget institutions likely to be strengthened? We find that fiscal deficits do not help in focusing policymakers on undertaking reforms. To the contrary, the larger the deficit, the lower is the likelihood of reforms. Large deficits apparently imply strong claims on the bud...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2008
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 08/82 |
| Schlagworte: | |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | Under what conditions are budget institutions likely to be strengthened? We find that fiscal deficits do not help in focusing policymakers on undertaking reforms. To the contrary, the larger the deficit, the lower is the likelihood of reforms. Large deficits apparently imply strong claims on the budget and, hence, generate unwillingness to impose self-discipline. As such, countries will tend to move either to small fiscal deficits and good institutions or large deficits and weak institutions. Economic shocks (if they are large enough) can help build a constituency for improving budget institutions. However, if forgiving markets accommodate economic shocks, even such pressure may be insufficient. Forwardlooking and credible leadership appears to be an important ingredient of the solution |
| Beschreibung: | Includes bibliographical references |
| Beschreibung: | 1 Online-Ressource (31 p) |
| ISBN: | 1451869436 9781451869439 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:25Z |
| indexdate | 2024-07-10T09:35:34Z |
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| series2 | IMF Working Papers |
| spelling | Mody, Ashoka Verfasser aut Breaking the Impediments to Budgetary Reforms Evidence From Europe Mody, Ashoka Washington, D.C International Monetary Fund 2008 1 Online-Ressource (31 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 08/82 Includes bibliographical references Under what conditions are budget institutions likely to be strengthened? We find that fiscal deficits do not help in focusing policymakers on undertaking reforms. To the contrary, the larger the deficit, the lower is the likelihood of reforms. Large deficits apparently imply strong claims on the budget and, hence, generate unwillingness to impose self-discipline. As such, countries will tend to move either to small fiscal deficits and good institutions or large deficits and weak institutions. Economic shocks (if they are large enough) can help build a constituency for improving budget institutions. However, if forgiving markets accommodate economic shocks, even such pressure may be insufficient. Forwardlooking and credible leadership appears to be an important ingredient of the solution Online-Ausg Budget deficits Europe Budget process Europe Electronic books Fabrizio, Stefania Sonstige oth http://elibrary.imf.org/view/IMF001/09164-9781451869439/09164-9781451869439/09164-9781451869439.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Mody, Ashoka Breaking the Impediments to Budgetary Reforms Evidence From Europe Budget deficits Europe Budget process Europe |
| title | Breaking the Impediments to Budgetary Reforms Evidence From Europe |
| title_auth | Breaking the Impediments to Budgetary Reforms Evidence From Europe |
| title_exact_search | Breaking the Impediments to Budgetary Reforms Evidence From Europe |
| title_exact_search_txtP | Breaking the Impediments to Budgetary Reforms Evidence From Europe |
| title_full | Breaking the Impediments to Budgetary Reforms Evidence From Europe Mody, Ashoka |
| title_fullStr | Breaking the Impediments to Budgetary Reforms Evidence From Europe Mody, Ashoka |
| title_full_unstemmed | Breaking the Impediments to Budgetary Reforms Evidence From Europe Mody, Ashoka |
| title_short | Breaking the Impediments to Budgetary Reforms |
| title_sort | breaking the impediments to budgetary reforms evidence from europe |
| title_sub | Evidence From Europe |
| topic | Budget deficits Europe Budget process Europe |
| topic_facet | Budget deficits Europe Budget process Europe |
| url | http://elibrary.imf.org/view/IMF001/09164-9781451869439/09164-9781451869439/09164-9781451869439.xml |
| work_keys_str_mv | AT modyashoka breakingtheimpedimentstobudgetaryreformsevidencefromeurope AT fabriziostefania breakingtheimpedimentstobudgetaryreformsevidencefromeurope |