Should Advanced Countries Adopt a Fiscal Responsibility Law? /
Fiscal Responsibility Laws (FRLs) appear to be more popular in middle-income countries than advanced countries, even though their success is limited. The reasons why few advanced countries have a FRL include: the existing legal framework for the budget system is adequate; supranational rules and pol...
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| Aineistotyyppi: | Aikakauslehti |
| Kieli: | English |
| Julkaistu: |
Washington, D.C. :
International Monetary Fund,
2010.
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| Sarja: | IMF Working Papers; Working Paper ;
No. 2010/254 |
| Linkit: | Full text available on IMF |
| Yhteenveto: | Fiscal Responsibility Laws (FRLs) appear to be more popular in middle-income countries than advanced countries, even though their success is limited. The reasons why few advanced countries have a FRL include: the existing legal framework for the budget system is adequate; supranational rules and political agreements in EU countries; failed attempts to include quantitative fiscal rules in laws; lack of consensus or interest in attaining the goals of FRL-type legislation; and lack of need for a law to regulate fiscal transparency, accountability and macro-fiscal stabilization. Without commitment to fiscal discipline, adoption of a FRL may not contribute to attaining fiscal consolidation goals. |
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| Huomautukset: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Ulkoasu: | 1 online resource (45 pages) |
| Aineistotyyppi: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| Pääsy: | Electronic access restricted to authorized BRAC University faculty, staff and students |