Making public finances more growth and equity-friendly in the euro area: = Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro
Across the euro area, the ability of public finances to support equitable growth has tended to deteriorate. Concerns about high and rising public debt, together with market pressure in some cases, led to sharp fiscal consolidation in 2011-13, against the backdrop of a weak economic situation at the...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2016
|
| Schriftenreihe: | OECD Economics Department Working Papers
no.1316 |
| Schlagworte: | |
| Online-Zugang: | DE-862 DE-863 |
| Zusammenfassung: | Across the euro area, the ability of public finances to support equitable growth has tended to deteriorate. Concerns about high and rising public debt, together with market pressure in some cases, led to sharp fiscal consolidation in 2011-13, against the backdrop of a weak economic situation at the time, which is considered to have made the recession deeper and longer. Consolidation has slowed down afterwards, but countries with fiscal space have made limited use of the leeway allowed under EU fiscal rules to support euro area aggregate demand. The expenditure composition has generally become less growth-friendly, with large cuts in public investment. On the revenue side, already high taxes on labour have tended to increase further. Structural reforms with direct positive implications for the composition or efficiency of public finances have stalled. While most policy levers to improve public finances remain at the country level, European and national policies can be mutually reinforcing in fiscal governance and public investment. To achieve a euro area fiscal stance that fosters the recovery, countries with fiscal space under the Stability and Growth Pact rules should use budgetary support to raise growth, and existing incentives and flexibility should be taken advantage of to pursue reforms of tax and spending policies. At the national level, it is essential to further upgrade budgetary frameworks, including through the adoption of expenditure rules and regular performance of spending reviews. To promote capital formation and make it more effective, EU budget resources for investment should be deployed in a way to crowd in national public funds and private financing, and foster greater investment productivity. At the national level, better coordination of investment across levels of government and upgraded administrative capacity would increase investment efficiency. This Working Paper relates to the 2016 OECD Economic Survey of the euro area (www.oecd.org/eco/surveys/economic-survey-european-union-and-euro-area.htm) |
| Beschreibung: | 1 Online-Ressource (29 Seiten) 21 x 29.7cm. |
Internformat
MARC
| LEADER | 00000cam a22000002 4500 | ||
|---|---|---|---|
| 001 | ZDB-13-SOC-061311243 | ||
| 003 | DE-627-1 | ||
| 005 | 20241028114010.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 210204s2016 xx |||||o 00| ||eng c | ||
| 024 | 7 | |a 10.1787/5jlv2jgl4kbr-en |2 doi | |
| 035 | |a (DE-627-1)061311243 | ||
| 035 | |a (DE-599)KEP061311243 | ||
| 035 | |a (FR-PaOEC)5jlv2jgl4kbr-en | ||
| 035 | |a (DE-627-1)061311243 | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rda | ||
| 041 | |a eng | ||
| 084 | |a F45 |2 jelc | ||
| 084 | |a E62 |2 jelc | ||
| 084 | |a H61 |2 jelc | ||
| 084 | |a H20 |2 jelc | ||
| 084 | |a H54 |2 jelc | ||
| 084 | |a H50 |2 jelc | ||
| 100 | 1 | |a Pina, Álvaro |e VerfasserIn |4 aut | |
| 245 | 1 | 0 | |a Making public finances more growth and equity-friendly in the euro area |b = Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro |c Álvaro, Pina |
| 246 | 3 | 1 | |a Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro |
| 264 | 1 | |a Paris |b OECD Publishing |c 2016 | |
| 300 | |a 1 Online-Ressource (29 Seiten) |c 21 x 29.7cm. | ||
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a Computermedien |b c |2 rdamedia | ||
| 338 | |a Online-Ressource |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Economics Department Working Papers |v no.1316 | |
| 520 | |a Across the euro area, the ability of public finances to support equitable growth has tended to deteriorate. Concerns about high and rising public debt, together with market pressure in some cases, led to sharp fiscal consolidation in 2011-13, against the backdrop of a weak economic situation at the time, which is considered to have made the recession deeper and longer. Consolidation has slowed down afterwards, but countries with fiscal space have made limited use of the leeway allowed under EU fiscal rules to support euro area aggregate demand. The expenditure composition has generally become less growth-friendly, with large cuts in public investment. On the revenue side, already high taxes on labour have tended to increase further. Structural reforms with direct positive implications for the composition or efficiency of public finances have stalled. While most policy levers to improve public finances remain at the country level, European and national policies can be mutually reinforcing in fiscal governance and public investment. To achieve a euro area fiscal stance that fosters the recovery, countries with fiscal space under the Stability and Growth Pact rules should use budgetary support to raise growth, and existing incentives and flexibility should be taken advantage of to pursue reforms of tax and spending policies. At the national level, it is essential to further upgrade budgetary frameworks, including through the adoption of expenditure rules and regular performance of spending reviews. To promote capital formation and make it more effective, EU budget resources for investment should be deployed in a way to crowd in national public funds and private financing, and foster greater investment productivity. At the national level, better coordination of investment across levels of government and upgraded administrative capacity would increase investment efficiency. This Working Paper relates to the 2016 OECD Economic Survey of the euro area (www.oecd.org/eco/surveys/economic-survey-european-union-and-euro-area.htm) | ||
| 650 | 4 | |a Economics | |
| 966 | 4 | 0 | |l DE-862 |p ZDB-13-SOC |q FWS_PDA_SOC |u https://doi.org/10.1787/5jlv2jgl4kbr-en |m X:OECD |x Resolving-System |z lizenzpflichtig |3 Volltext |
| 966 | 4 | 0 | |l DE-863 |p ZDB-13-SOC |q FWS_PDA_SOC |u https://doi.org/10.1787/5jlv2jgl4kbr-en |m X:OECD |x Resolving-System |z lizenzpflichtig |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 912 | |a ZDB-13-SOC-ebook | ||
| 912 | |a ZDB-13-SOC | ||
| 951 | |a BO | ||
| 912 | |a ZDB-13-SOC | ||
| 049 | |a DE-862 | ||
| 049 | |a DE-863 | ||
Datensatz im Suchindex
| DE-BY-FWS_katkey | ZDB-13-SOC-061311243 |
|---|---|
| _version_ | 1826942521075302400 |
| adam_text | |
| any_adam_object | |
| author | Pina, Álvaro |
| author_facet | Pina, Álvaro |
| author_role | aut |
| author_sort | Pina, Álvaro |
| author_variant | a p ap |
| building | Verbundindex |
| bvnumber | localFWS |
| collection | ZDB-13-SOC ZDB-13-SOC-ebook |
| ctrlnum | (DE-627-1)061311243 (DE-599)KEP061311243 (FR-PaOEC)5jlv2jgl4kbr-en |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>03573cam a22004332 4500</leader><controlfield tag="001">ZDB-13-SOC-061311243</controlfield><controlfield tag="003">DE-627-1</controlfield><controlfield tag="005">20241028114010.0</controlfield><controlfield tag="007">cr uuu---uuuuu</controlfield><controlfield tag="008">210204s2016 xx |||||o 00| ||eng c</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/5jlv2jgl4kbr-en</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-627-1)061311243</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)KEP061311243</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(FR-PaOEC)5jlv2jgl4kbr-en</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-627-1)061311243</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-627</subfield><subfield code="b">ger</subfield><subfield code="c">DE-627</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1=" " ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">F45</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">E62</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">H61</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">H20</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">H54</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">H50</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Pina, Álvaro</subfield><subfield code="e">VerfasserIn</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Making public finances more growth and equity-friendly in the euro area</subfield><subfield code="b"> = Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro</subfield><subfield code="c">Álvaro, Pina</subfield></datafield><datafield tag="246" ind1="3" ind2="1"><subfield code="a">Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2016</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (29 Seiten)</subfield><subfield code="c">21 x 29.7cm.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="a">Text</subfield><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="a">Computermedien</subfield><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="a">Online-Ressource</subfield><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Economics Department Working Papers</subfield><subfield code="v">no.1316</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">Across the euro area, the ability of public finances to support equitable growth has tended to deteriorate. Concerns about high and rising public debt, together with market pressure in some cases, led to sharp fiscal consolidation in 2011-13, against the backdrop of a weak economic situation at the time, which is considered to have made the recession deeper and longer. Consolidation has slowed down afterwards, but countries with fiscal space have made limited use of the leeway allowed under EU fiscal rules to support euro area aggregate demand. The expenditure composition has generally become less growth-friendly, with large cuts in public investment. On the revenue side, already high taxes on labour have tended to increase further. Structural reforms with direct positive implications for the composition or efficiency of public finances have stalled. While most policy levers to improve public finances remain at the country level, European and national policies can be mutually reinforcing in fiscal governance and public investment. To achieve a euro area fiscal stance that fosters the recovery, countries with fiscal space under the Stability and Growth Pact rules should use budgetary support to raise growth, and existing incentives and flexibility should be taken advantage of to pursue reforms of tax and spending policies. At the national level, it is essential to further upgrade budgetary frameworks, including through the adoption of expenditure rules and regular performance of spending reviews. To promote capital formation and make it more effective, EU budget resources for investment should be deployed in a way to crowd in national public funds and private financing, and foster greater investment productivity. At the national level, better coordination of investment across levels of government and upgraded administrative capacity would increase investment efficiency. This Working Paper relates to the 2016 OECD Economic Survey of the euro area (www.oecd.org/eco/surveys/economic-survey-european-union-and-euro-area.htm)</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="966" ind1="4" ind2="0"><subfield code="l">DE-862</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="q">FWS_PDA_SOC</subfield><subfield code="u">https://doi.org/10.1787/5jlv2jgl4kbr-en</subfield><subfield code="m">X:OECD</subfield><subfield code="x">Resolving-System</subfield><subfield code="z">lizenzpflichtig</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="4" ind2="0"><subfield code="l">DE-863</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="q">FWS_PDA_SOC</subfield><subfield code="u">https://doi.org/10.1787/5jlv2jgl4kbr-en</subfield><subfield code="m">X:OECD</subfield><subfield code="x">Resolving-System</subfield><subfield code="z">lizenzpflichtig</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC-ebook</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="951" ind1=" " ind2=" "><subfield code="a">BO</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-862</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-863</subfield></datafield></record></collection> |
| id | ZDB-13-SOC-061311243 |
| illustrated | Not Illustrated |
| indexdate | 2025-03-18T14:29:19Z |
| institution | BVB |
| language | English |
| open_access_boolean | |
| owner | DE-862 DE-BY-FWS DE-863 DE-BY-FWS |
| owner_facet | DE-862 DE-BY-FWS DE-863 DE-BY-FWS |
| physical | 1 Online-Ressource (29 Seiten) 21 x 29.7cm. |
| psigel | ZDB-13-SOC FWS_PDA_SOC ZDB-13-SOC ZDB-13-SOC-ebook |
| publishDate | 2016 |
| publishDateSearch | 2016 |
| publishDateSort | 2016 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Economics Department Working Papers |
| spelling | Pina, Álvaro VerfasserIn aut Making public finances more growth and equity-friendly in the euro area = Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro Álvaro, Pina Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro Paris OECD Publishing 2016 1 Online-Ressource (29 Seiten) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1316 Across the euro area, the ability of public finances to support equitable growth has tended to deteriorate. Concerns about high and rising public debt, together with market pressure in some cases, led to sharp fiscal consolidation in 2011-13, against the backdrop of a weak economic situation at the time, which is considered to have made the recession deeper and longer. Consolidation has slowed down afterwards, but countries with fiscal space have made limited use of the leeway allowed under EU fiscal rules to support euro area aggregate demand. The expenditure composition has generally become less growth-friendly, with large cuts in public investment. On the revenue side, already high taxes on labour have tended to increase further. Structural reforms with direct positive implications for the composition or efficiency of public finances have stalled. While most policy levers to improve public finances remain at the country level, European and national policies can be mutually reinforcing in fiscal governance and public investment. To achieve a euro area fiscal stance that fosters the recovery, countries with fiscal space under the Stability and Growth Pact rules should use budgetary support to raise growth, and existing incentives and flexibility should be taken advantage of to pursue reforms of tax and spending policies. At the national level, it is essential to further upgrade budgetary frameworks, including through the adoption of expenditure rules and regular performance of spending reviews. To promote capital formation and make it more effective, EU budget resources for investment should be deployed in a way to crowd in national public funds and private financing, and foster greater investment productivity. At the national level, better coordination of investment across levels of government and upgraded administrative capacity would increase investment efficiency. This Working Paper relates to the 2016 OECD Economic Survey of the euro area (www.oecd.org/eco/surveys/economic-survey-european-union-and-euro-area.htm) Economics |
| spellingShingle | Pina, Álvaro Making public finances more growth and equity-friendly in the euro area = Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro Economics |
| title | Making public finances more growth and equity-friendly in the euro area = Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro |
| title_alt | Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro |
| title_auth | Making public finances more growth and equity-friendly in the euro area = Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro |
| title_exact_search | Making public finances more growth and equity-friendly in the euro area = Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro |
| title_full | Making public finances more growth and equity-friendly in the euro area = Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro Álvaro, Pina |
| title_fullStr | Making public finances more growth and equity-friendly in the euro area = Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro Álvaro, Pina |
| title_full_unstemmed | Making public finances more growth and equity-friendly in the euro area = Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro Álvaro, Pina |
| title_short | Making public finances more growth and equity-friendly in the euro area |
| title_sort | making public finances more growth and equity friendly in the euro area rendre les finances publiques plus favorables a la croissance et a l equite dans la zone euro |
| title_sub | = Rendre les finances publiques plus favorables à la croissance et à l'équité dans la zone euro |
| topic | Economics |
| topic_facet | Economics |
| work_keys_str_mv | AT pinaalvaro makingpublicfinancesmoregrowthandequityfriendlyintheeuroarearendrelesfinancespubliquesplusfavorablesalacroissanceetalequitedanslazoneeuro AT pinaalvaro rendrelesfinancespubliquesplusfavorablesalacroissanceetalequitedanslazoneeuro |