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Do Budget Institutions Matter?: Fiscal Consolidation in the New EU Member States

Author

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  • Carlos Mulas-Granados
  • Jorge Onrubia
  • Javier Salinas-Jiménez

Abstract

This paper studies the influence that the recently reformed budgetary institutions in the new EU member states may have had on their public finances. We test if their newly formed institutions have already started to shape their fiscal outcomes, as EU-15 institutions did in the past. To answer this question, this paper develops new institutional indices and performs an empirical analysis on the sample of new EU member statesâthose that joined in 2004 and 2007âfor the period 1993-2004. The results confirm that budgetary institutions have a similar influence in the new member states as they had in the EU-15. The role of a strong finance minister is even more important than previous studies suggest.

Suggested Citation

  • Carlos Mulas-Granados & Jorge Onrubia & Javier Salinas-Jiménez, 2009. "Do Budget Institutions Matter?: Fiscal Consolidation in the New EU Member States," Eastern European Economics, Taylor & Francis Journals, vol. 47(1), pages 60-91, January.
    • Handle: RePEc:mes:eaeuec:v:47:y:2009:i:1:p:60-91
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    Citations

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    Cited by:

    1. Mr. Marc G Quintyn & Sophia Gollwitzer, 2010. "The Effectiveness of Macroeconomic Commitment in Weak(er) Institutional Environments," IMF Working Papers 2010/193, International Monetary Fund.
    2. Martínez Fernández, Ignacio & Palma Martos, Luis & Chase Solán, Christian, 2016. "Cálculo de los componentes estructurales del déficit público español (1992-2015)/Calculating the Structural Components of the Spanish Public Deficit (1992-2015)," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 34, pages 667-682, Agosto.
    3. Fisayo Fagbemi, 2020. "Assessing the Role of Governance in West African Fiscal Performance," The American Economist, Sage Publications, vol. 65(1), pages 97-122, March.
    4. Chiara DEL BO, 2009. "Recent advances in public investment, fiscal policy and growth," Departmental Working Papers 2009-25, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    5. Sophia Gollwitzer & Eteri Kvintradze & Mr. Tej Prakash & Luis-Felipe Zanna & Ms. Era Dabla-Norris & Mr. Richard I Allen & Irene Yackovlev & Victor Duarte Lledo, 2010. "Budget Institutions and Fiscal Performance in Low-Income Countries," IMF Working Papers 2010/080, International Monetary Fund.
    6. Babacar Sarr, 2016. "What Are the Drivers of Fiscal Performance Gaps between Anglophone and Francophone Africa? A Blinder–Oaxaca Decomposition," South African Journal of Economics, Economic Society of South Africa, vol. 84(1), pages 40-62, March.
    7. Cezara Vinturis, 2019. "A multi-speed fiscal Europe? Fiscal Rules and Fiscal Performance in the EU Former Communist Countries," Working Papers hal-03097483, HAL.
    8. Sophia Gollwitzer, 2010. "Budget Institutions and Fiscal Performance in Africa," Discussion Papers 10/02, University of Nottingham, CREDIT.
    9. Israa A. El Husseiny, 2016. "Budgetary Institutions and Fiscal Performance in Egypt: Is There a Link?," Public Budgeting & Finance, Wiley Blackwell, vol. 36(1), pages 85-105, February.
    10. Barbone, Luca & Islam, Roumeen & Sanchez, Luis Alvaro, 2010. "The great crisis and fiscal institutions in eastern and central Europe and central Asia," Policy Research Working Paper Series 5453, The World Bank.

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