An Economic Theory of Switzerland
AbstractSwitzerland is often viewed as a federalist curiosity and a unique form of direct democracy. But this view does not provide a proper understanding of the country. A theory of Switzerland is necessary. A consideration of the initial, exogenous geographical situation of Swiss territory provides a better understanding of the country’s development. It was out of the frac-tured geography that the institutions of federalism and direct democracy as they are known today developed and established themselves. Although there was a trend to internal centralisation in the 20th century, the regional authorities have maintained their autonomy considerably better in Switzerland than in other states. An important factor is that the federal government, cantons and municipalities are each responsible for their own finances and debts. This stabilises not only the budget of regional and local authorities but also prevents interference on the part of the central government.
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Bibliographic InfoPaper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 3646.
Date of creation: 2011
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- Lars P. Feld & Alexander Kalb & Marc-Daniel Moessinger & Steffen Osterloh, 2013.
"Sovereign bond market reactions to fiscal rules and no-bailout clauses – The Swiss experience,"
2013/27, Institut d'Economia de Barcelona (IEB).
- Lars P. Feld & Alexander Kalb & Marc-Daniel Moessinger & Steffen Osterloh, 2013. "Sovereign Bond Market Reactions to Fiscal Rules and No-Bailout Clauses - The Swiss Experience," CESifo Working Paper Series 4195, CESifo Group Munich.
- Feld, Lars P. & Kalb, Alexander & Moessinger, Marc-Daniel & Osterloh, Steffen, 2013. "Sovereign bond market reactions to fiscal rules and no-bailout clauses: The Swiss experience," ZEW Discussion Papers 13-034, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
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