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The Role of Fiscal Rules in Relation with the Green Economy

Author

Listed:
  • Atanas Pekanov

    (WIFO)

  • Margit Schratzenstaller

Abstract

To achieve the necessary green transition in the EU, additional public investments by Member States will need to be mobilised throughout the next decade. In light of the macroeconomic environment of very low interest rates, this calls for a reform of the EU fiscal framework. The paper discusses three approaches for a reform of the fiscal rules to better reflect the need for higher (debt-financed) green public investment: (1) an exemption clause for green public investment; (2) the implementation of a green golden rule; (3) a country-specific benchmark share of government expenditures dedicated to green public investment recommended by the European Commission.

Suggested Citation

  • Atanas Pekanov & Margit Schratzenstaller, 2020. "The Role of Fiscal Rules in Relation with the Green Economy," WIFO Studies, WIFO, number 66442, February.
    • Handle: RePEc:wfo:wstudy:66442
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    File URL: https://www.wifo.ac.at/wwa/pubid/66442
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    Citations

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    Cited by:

    1. Angela Köppl & Stefan Schleicher & Margit Schratzenstaller, 2023. "Klima- und umweltrelevante öffentliche Ausgaben in Österreich," WIFO Working Papers 655, WIFO.
    2. Philipp Heimberger, 2023. "Öffentliche Investitionen und Sozialstaat: Perspektiven der Budgetpolitik im Kontext von Energiekrise, Klimawandel und EU-Budgetregeln," wiiw Policy Notes 65, The Vienna Institute for International Economic Studies, wiiw.
    3. Corti, Francesco & Alcidi, Cinzia & Gros, Daniel & Liscai, Alessandro & Shamsfakhr, Farzaneh, 2022. "A qualified treatment for green and social investments within a revised EU fiscal framework," CEPS Papers 36574, Centre for European Policy Studies.
    4. Philipp Heimberger & Andreas Lichtenberger, 2023. "RRF 2.0: A Permanent EU Investment Fund in the Context of the Energy Crisis, Climate Change and EU Fiscal Rules," wiiw Policy Notes 63, The Vienna Institute for International Economic Studies, wiiw.
    5. Philipp Heimberger & Andreas Lichtenberger, 2022. "RRF 2.0: Ein permanenter EU-Investitionsfonds im Kontext von Energiekrise, Klimawandel und EU-Fiskalregeln," wiiw Research Reports in German language 23, The Vienna Institute for International Economic Studies, wiiw.

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