Fiscal Rules in Response to the Crisis: Toward the

Medientyp: E-Book

Titel: Fiscal Rules in Response to the Crisis : Toward the ""Next-Generation"" Rules: A New Dataset

Beteiligte: Budina, Nina [Verfasser:in]; Schaechter, Andrea [Sonstige Person, Familie und Körperschaft]; Weber, Anke [Sonstige Person, Familie und Körperschaft]; Budina, Nina [Sonstige Person, Familie und Körperschaft]; Kinda, Tidiane [Sonstige Person, Familie und Körperschaft]

Erschienen: Washington, D.C: International Monetary Fund, 2012
Online-Ausg.

Umfang: Online-Ressource (49 p)

Sprache: Englisch

DOI: 10.5089/9781475505351.001

ISBN: 1475505353; 9781475505351

Identifikator:

Schlagwörter: Budgeting ; Macroeconomics ; Public Finance ; Fiscal Policy ; Structure, Scope, and Performance of Government ; National Deficit Surplus ; National Government Expenditures and Related Policies: General ; National Budget ; Budget Systems ; Public finance & taxation ; Budgeting & financial management ; Fiscal rules ; Expenditure ; Fiscal stance ; Budget planning and preparation ; Fiscal policy ; Public financial management (PFM) ; Expenditures, Public ; Budget ; Switzerland

Art der Reproduktion: Online-Ausg.

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Beschreibung: 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

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