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Fiscal Politics In Time: Pathways to Fiscal Consolidation, 1980-2012

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  • Sebastian Dellepiane

    (School of Government and Public Policy, University of Strathclyde, Ireland)

  • Niamh Hardiman

    (UCD School of Politics and International Relations, University College Dublin, Ireland)

Abstract

The comparative study of debt and fiscal consolidation has acquired a new focus in the wake of the global financial crisis. This leads us to re-evaluate the literature on fiscal consolidation that flourished during the 1980s and 1990s. The conventional approach segments episodes of fiscal change into discrete observations. We argue that this misses the dynamic features of government strategy, especially in the choices made between expenditure-based and revenue-based fiscal consolidation strategies. We propose a focus on pathways rather than episodes of adjustment, to recapture what Pierson terms ‘politics in time’. A case-study approach facilitates analysis of complex causality that includes the structures of interest intermediation, the role of ideas in shaping the set of feasible policy choices, and the situation of national economies in the international political economy. We support our argument with qualitative data based on two case studies, Ireland and Greece, and with additional paired comparisons of Ireland with Britain, and Greece with Spain.

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Bibliographic Info

Paper provided by Geary Institute, University College Dublin in its series Working Papers with number 201228.

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Length: 46 pages
Date of creation: 21 Dec 2012
Date of revision:
Handle: RePEc:ucd:wpaper:201228

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Keywords: fiscal consolidation;

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Cited by:
  1. Niamh Hardiman, 2013. "Rethinking the political economy of fiscal consolidation in two recessions in Ireland," Working Papers 201316, Geary Institute, University College Dublin.
  2. Niamh Hardiman & Muiris MacCarthaigh, 2013. "How Governments Retrench In Crisis: The Case of Ireland," Working Papers 201315, Geary Institute, University College Dublin.

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