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The fiscal and monetary institutions of CESEE countries

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  • Zsolt Darvas
  • Valentina Kostyleva

Abstract

This working paper by Zsolt Darvas and Valentina Kostyleva examines the role of fiscal and monetary institutions in macroeconomic stability and budgetary control in CESEE (central, eastern and south eastern European) countries in comparison to other OECD countries. Budgetary discipline indexes suggest that fiscal institutions are weaker in most CESEE countries than in non-CESEE OECD countries. these factors call for improved monetary institutions, stronger fiscal rules, and better budgetary procedures. A version of this paper presented at the 6th Annual Meeting of CESEE Senior Budget Officials, Budva, Montenegro, 23-24 September 2010.

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  • Zsolt Darvas & Valentina Kostyleva, 2011. "The fiscal and monetary institutions of CESEE countries," Working Papers 490, Bruegel.
    • Handle: RePEc:bre:wpaper:490
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