Fiscal Rules And The Budget Process
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Fiscal Rules And The Budget Process
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Author : Mr.Gian Milesi-Ferretti
language : en
Publisher: International Monetary Fund
Release Date : 1996-06-01
Fiscal Rules And The Budget Process written by Mr.Gian Milesi-Ferretti and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-06-01 with Business & Economics categories.
This paper examines the rationale for the imposition of fiscal rules as a way to reduce budgetary imbalances. It presents theoretical arguments for the existence of a “fiscal deficit bias” and the empirical evidence on the economic, political and institutional factors leading to this bias. In the context of these findings, it discusses the potential role of legal constraints on the level of key fiscal variables, and of reforms in budgetary procedures in enhancing fiscal discipline. It also evaluates proposals for budgetary reform in Italy.
Fiscal Rules And The Budget Process
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Author : Gian Maria Milesi-Ferretti
language : en
Publisher:
Release Date : 2006
Fiscal Rules And The Budget Process written by Gian Maria Milesi-Ferretti and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This paper examines the rationale for the imposition of fiscal rules as a way to reduce budgetary imbalances. It presents theoretical arguments for the existence of a quot;fiscal deficit biasquot; and the empirical evidence on the economic, political and institutional factors leading to this bias. In the context of these findings, it discusses the potential role of legal constraints on the level of key fiscal variables, and of reforms in budgetary procedures in enhancing fiscal discipline. It also evaluates proposals for budgetary reform in Italy.
Fiscal Rules To Tame The Political Budget Cycle
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Author : Lorenzo Forni
language : en
Publisher: International Monetary Fund
Release Date : 2017-01-20
Fiscal Rules To Tame The Political Budget Cycle written by Lorenzo Forni and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-20 with Business & Economics categories.
The paper provides evidence that fiscal rules can limit the political budget cycle. It focuses on the application of the Italian fiscal rule at the sub-national level over the period 2004-2006 and shows that: 1) municipalities are subject to political budget cycles in capital spending; 2) the Italian subnational fiscal rule introduced in 1999 has been enforced by the central government; 3) municipalities subject to the fiscal rule show more limited political budget cycles than municipalities not subject to the rule. In order to identify the effect, we rely on the fact that the domestic fiscal rule does not apply to municipalities below 5,000 inhabitants. We find that the political budget cycle increases real capital spending by about 35 percent on average in the years prior to municipal elections and that the sub-national fiscal rule reduces these figures by about two thirds.
Top Down Budgeting An Instrument To Strengthen Budget Management
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Author : Gösta Ljungman
language : en
Publisher: International Monetary Fund
Release Date : 2009-11-01
Top Down Budgeting An Instrument To Strengthen Budget Management written by Gösta Ljungman and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-11-01 with Business & Economics categories.
This paper examines the rationale for a top-down approach to budget preparation and approval, and discusses some factors that have to be considered when reorienting the budget process along these lines. The paper argues that the sequence in which budgetary decisions are taken matters, and that a strong top-down approach strengthens fiscal discipline and improves policy prioritization and coordination. Top-down budgeting also alters the division of roles and responsibilities between the central budget authority and line ministries, and requires that the process of determining the total expenditure level, sectoral allocations and individual appropriations is clarified. Finally, the paper argues that strong top-down elements in the parliamentary budget voting process can be effective in addressing the risk of excessive and unsustainable amendments during budget approval.
Government At A Glance Southeast Asia 2019
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2019-09-10
Government At A Glance Southeast Asia 2019 written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-10 with categories.
Government at a Glance Southeast Asia 2019 is the first edition in the Government at a Glance series for the region. It provides the latest available data on public administrations in the 10 ASEAN member countries: Brunei Darussalam, Cambodia, Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam.
Government Budgeting And Expenditure Controls
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Author : A. Premchand
language : en
Publisher: International Monetary Fund
Release Date : 1989-03-15
Government Budgeting And Expenditure Controls written by A. Premchand and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989-03-15 with Business & Economics categories.
This book, written by A. Premchand, offers a comprehensive review of fiscal policies and their implications for budgeting and expenditure controls. It provides an in-depth discussion of techniques, procedures, and processes of budgeting with illustrative material drawn from the experiences of industrial and developing countries.
Fiscal Rules In Response To The Crisis
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Author : Ms.Andrea Schaechter
language : en
Publisher: International Monetary Fund
Release Date : 2012-07-01
Fiscal Rules In Response To The Crisis written by Ms.Andrea Schaechter and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-01 with Business & Economics categories.
Strengthening fiscal frameworks, in particular fiscal rules, has emerged as a key response to the fiscal legacy of the crisis. This paper takes stock of fiscal rules in use around the world, compiles a dataset - covering national and supranational fiscal rules, in 81 countries from 1985 to end-March 2012 - and presents details about the rules’ key design elements, particularly in support of enforcement. This information is summarized in a set of fiscal rules indices. Three key findings emerge: (i) many new fiscal rules have been adopted and existing ones strengthened in response to the crisis; (ii) the number of fiscal rules and the comprehensiveness of the design features in emerging economies has caught up to those in advanced economies; and (iii) the "next-generation" fiscal rules are increasingly complex as they combine the objectives of sustainability and with the need for flexibility in response to shocks, thereby creating new challenges for implementation, communication, and monitoring.
Legislatures And The Budget Process
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Author : J. Wehner
language : en
Publisher: Springer
Release Date : 2010-06-23
Legislatures And The Budget Process written by J. Wehner and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-06-23 with Political Science categories.
What is the role of legislatures in the budget process? Do powerful assemblies give rise to pro-spending bias? This survey of legislative budgeting tackles these questions using cross-national data and case studies. It highlights the tension between legislative authority and prudent fiscal policy, exploring strategies for reconciliation.
Fiscal Rules Anchoring Expectations For Sustainable Public Finances
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2009-12-11
Fiscal Rules Anchoring Expectations For Sustainable Public Finances written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-11 with Business & Economics categories.
The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term. This paper assesses the usefulness of fiscal rules in supporting fiscal consolidation, discusses the design and implementation of rules based on a new data base spanning the whole Fund membership, and explores the fiscal framework that could be adopted as countries emerge from the crisis.
Rules Based Fiscal Policy In Emerging Markets
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Author : G. Kopits
language : en
Publisher: Springer
Release Date : 2004-09-21
Rules Based Fiscal Policy In Emerging Markets written by G. Kopits and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-09-21 with Business & Economics categories.
Inspired by the experience of some advanced economies, a number of emerging market economies have recently adopted rules limiting the budget deficit, expenditure level, or indebtedness of the public sector, while others consider them for eventual adoption. This volume brings together policy analysts to discuss the rationale, suitability, and usefulness of fiscal policy rules in emerging market economies. Grouped under three main parts (political economy and macroeconomic setting; design issues at the national level; design issues at the subnational level), the chapters have a practical orientation, based on conceptual grounding.