Lessons from the crisis:
The Great Recession has been an unplanned but critical stress test of contemporary fiscal policy and financial management. This article seeks to draw lessons from this crisis, whose final chapters have yet to be written. The lessons fall into two broad, overlapping categories: fiscal and economic po...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch Artikel |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2013
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| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The Great Recession has been an unplanned but critical stress test of contemporary fiscal policy and financial management. This article seeks to draw lessons from this crisis, whose final chapters have yet to be written. The lessons fall into two broad, overlapping categories: fiscal and economic policy; and budget procedures and practices. Section 1 looks back at the crisis in search of markers that distinguish between fiscally strong and weak countries. Section 2 looks forward to consider how national governments may avert future fiscal meltdowns by incorporating risk assessment and other early warning signals into routine budget work, and by devising more effective rules and procedures to ward off fiscal mischief. The concluding section reflects on how the practice of budgeting might be altered by shocks to established procedures. |
| Beschreibung: | 1 Online-Ressource (29 p.) 21 x 28cm. |
| DOI: | 10.1787/budget-12-5k47tb29wn6h |
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| indexdate | 2024-11-26T14:56:13Z |
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| spelling | Schick, Allen VerfasserIn aut Lessons from the crisis Allen, Schick Paris OECD Publishing 2013 1 Online-Ressource (29 p.) 21 x 28cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier The Great Recession has been an unplanned but critical stress test of contemporary fiscal policy and financial management. This article seeks to draw lessons from this crisis, whose final chapters have yet to be written. The lessons fall into two broad, overlapping categories: fiscal and economic policy; and budget procedures and practices. Section 1 looks back at the crisis in search of markers that distinguish between fiscally strong and weak countries. Section 2 looks forward to consider how national governments may avert future fiscal meltdowns by incorporating risk assessment and other early warning signals into routine budget work, and by devising more effective rules and procedures to ward off fiscal mischief. The concluding section reflects on how the practice of budgeting might be altered by shocks to established procedures. Finance and Investment Governance Enthalten in OECD Journal on Budgeting Vol. 12, no. 3, p. 1-29 volume:12 year:2013 number:3 pages:1-29 FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/budget-12-5k47tb29wn6h Volltext |
| spellingShingle | Schick, Allen Lessons from the crisis Finance and Investment Governance |
| title | Lessons from the crisis |
| title_auth | Lessons from the crisis |
| title_exact_search | Lessons from the crisis |
| title_full | Lessons from the crisis Allen, Schick |
| title_fullStr | Lessons from the crisis Allen, Schick |
| title_full_unstemmed | Lessons from the crisis Allen, Schick |
| title_short | Lessons from the crisis |
| title_sort | lessons from the crisis |
| topic | Finance and Investment Governance |
| topic_facet | Finance and Investment Governance |
| url | https://doi.org/10.1787/budget-12-5k47tb29wn6h |
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