Promoting fiscal discipline:
Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities. Discipline is especially important if countries, industrial as well as developing, are to successfully meet the challenges, and reap the benefits, of economic and...
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| Main Author: | |
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| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C.
International Monetary Fund
2007
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| Subjects: | |
| Online Access: | BSB01 FAN01 FHA01 FKE01 FLA01 FLA01 FNU01 LCO01 SBG01 SBR01 TUM01 UBA01 UBG01 UBM01 UBR01 UBT01 UBW01 UBY01 UEI01 UER01 UPA01 Volltext |
| Summary: | Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities. Discipline is especially important if countries, industrial as well as developing, are to successfully meet the challenges, and reap the benefits, of economic and financial globalization. Lack of fiscal discipline generally stems from the injudicious use of policy discretion. The benefits of discretion are seen in terms of the ability of policymakers to respond to unexpected shocks and in allowing elected political representatives to fulfill their mandates. But discretion can be misused, resulting in persistent deficits and procyclical policies, rising debt levels, and, over time, a loss in policy credibility. The authors first explore the role of discretion in fiscal policy, and the extent, consequences, and causes of procyclicality, particularly in good times. They then examine how a variety of institutional approaches-fiscal rules, fiscal responsibility laws, and fiscal agencies-can help improve fiscal discipline. While each of these approaches can play a useful role, the authors suggest that a strategy combining them is likely to be particularly beneficial. Although such a strategy requires political commitment and effective fiscal management, at the same time, the strategy itself can bolster political commitment by highlighting the restraints on government and raising the costs of failing to respect them |
| Physical Description: | 1 Online-Ressource (VII, 134 Seiten) Diagramme |
| ISBN: | 9781451927337 1451927339 |
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| 520 | 3 | |a Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities. Discipline is especially important if countries, industrial as well as developing, are to successfully meet the challenges, and reap the benefits, of economic and financial globalization. Lack of fiscal discipline generally stems from the injudicious use of policy discretion. The benefits of discretion are seen in terms of the ability of policymakers to respond to unexpected shocks and in allowing elected political representatives to fulfill their mandates. But discretion can be misused, resulting in persistent deficits and procyclical policies, rising debt levels, and, over time, a loss in policy credibility. The authors first explore the role of discretion in fiscal policy, and the extent, consequences, and causes of procyclicality, particularly in good times. They then examine how a variety of institutional approaches-fiscal rules, fiscal responsibility laws, and fiscal agencies-can help improve fiscal discipline. While each of these approaches can play a useful role, the authors suggest that a strategy combining them is likely to be particularly beneficial. Although such a strategy requires political commitment and effective fiscal management, at the same time, the strategy itself can bolster political commitment by highlighting the restraints on government and raising the costs of failing to respect them | |
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| id | DE-604.BV048358350 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:14:04Z |
| indexdate | 2024-07-10T09:35:52Z |
| institution | BVB |
| institution_GND | (DE-588)1013082-2 |
| isbn | 9781451927337 1451927339 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033737586 |
| oclc_num | 535146809 1337130664 |
| open_access_boolean | |
| owner | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM DE-11 |
| owner_facet | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM DE-11 |
| physical | 1 Online-Ressource (VII, 134 Seiten) Diagramme |
| psigel | ZDB-1-IMF ZDB-30-PAD ZDB-30-PBE ZDB-4-EBU ZDB-38-EBE ZDB-38-EBR HUB_PDA_EBR_Kauf ZDB-4-EBU FLA_PDA_EBU |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | International Monetary Fund |
| record_format | marc |
| spelling | Kumar, Manmohan S. Verfasser (DE-588)126262349 aut Promoting fiscal discipline Manmohan S. Kumar, Teresa Ter-Minassian, editors Washington, D.C. International Monetary Fund 2007 1 Online-Ressource (VII, 134 Seiten) Diagramme txt rdacontent c rdamedia cr rdacarrier Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities. Discipline is especially important if countries, industrial as well as developing, are to successfully meet the challenges, and reap the benefits, of economic and financial globalization. Lack of fiscal discipline generally stems from the injudicious use of policy discretion. The benefits of discretion are seen in terms of the ability of policymakers to respond to unexpected shocks and in allowing elected political representatives to fulfill their mandates. But discretion can be misused, resulting in persistent deficits and procyclical policies, rising debt levels, and, over time, a loss in policy credibility. The authors first explore the role of discretion in fiscal policy, and the extent, consequences, and causes of procyclicality, particularly in good times. They then examine how a variety of institutional approaches-fiscal rules, fiscal responsibility laws, and fiscal agencies-can help improve fiscal discipline. While each of these approaches can play a useful role, the authors suggest that a strategy combining them is likely to be particularly beneficial. Although such a strategy requires political commitment and effective fiscal management, at the same time, the strategy itself can bolster political commitment by highlighting the restraints on government and raising the costs of failing to respect them Online-Ausg Finanzwirtschaft Wirtschaftspolitik Fiscal policy Finance, Public Economic policy Fiskalpolitik (DE-588)4071234-5 gnd rswk-swf Konsolidierung (DE-588)4114287-1 gnd rswk-swf Fiskalpolitik (DE-588)4071234-5 s Konsolidierung (DE-588)4114287-1 s DE-604 Ter-Minassian, Teresa 1943- Sonstige (DE-588)131611240 oth Internationaler Währungsfonds Sonstige (DE-588)1013082-2 oth Erscheint auch als Druck-Ausgabe 1-589-06609-X 978-1-589-06609-0 http://elibrary.imf.org/view/IMF071/05461-9781589066090/05461-9781589066090/05461-9781589066090.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Kumar, Manmohan S. Promoting fiscal discipline Finanzwirtschaft Wirtschaftspolitik Fiscal policy Finance, Public Economic policy Fiskalpolitik (DE-588)4071234-5 gnd Konsolidierung (DE-588)4114287-1 gnd |
| subject_GND | (DE-588)4071234-5 (DE-588)4114287-1 |
| title | Promoting fiscal discipline |
| title_auth | Promoting fiscal discipline |
| title_exact_search | Promoting fiscal discipline |
| title_exact_search_txtP | Promoting fiscal discipline |
| title_full | Promoting fiscal discipline Manmohan S. Kumar, Teresa Ter-Minassian, editors |
| title_fullStr | Promoting fiscal discipline Manmohan S. Kumar, Teresa Ter-Minassian, editors |
| title_full_unstemmed | Promoting fiscal discipline Manmohan S. Kumar, Teresa Ter-Minassian, editors |
| title_short | Promoting fiscal discipline |
| title_sort | promoting fiscal discipline |
| topic | Finanzwirtschaft Wirtschaftspolitik Fiscal policy Finance, Public Economic policy Fiskalpolitik (DE-588)4071234-5 gnd Konsolidierung (DE-588)4114287-1 gnd |
| topic_facet | Finanzwirtschaft Wirtschaftspolitik Fiscal policy Finance, Public Economic policy Fiskalpolitik Konsolidierung |
| url | http://elibrary.imf.org/view/IMF071/05461-9781589066090/05461-9781589066090/05461-9781589066090.xml |
| work_keys_str_mv | AT kumarmanmohans promotingfiscaldiscipline AT terminassianteresa promotingfiscaldiscipline AT internationalerwahrungsfonds promotingfiscaldiscipline |