IDEAS home Printed from https://ideas.repec.org/a/bla/jcmkts/v40y2002i5p823-848.html
   My bibliography  Save this article

Maastricht’s Fiscal Rules at Ten: An Assessment

Author

Listed:
  • Marco Buti
  • Gabriele Giudice

Abstract

The Maastricht Treaty is ten years old. Its fiscal rules played a key role in kickstarting and sustaining the budgetary retrenchment efforts in European Union countries in the run–up to economic and monetary union (EMU). The experience of the Maastricht–induced fiscal consolidation shows that the political economy dimension of the rules is key to their success. It remains to be seen whether the stability and growth pact — which aims to lock EMU members into a permanent fiscal discipline commitment while allowing for flexibility to cushion cyclical fluctuations — will work. In order to succeed in this undertaking, EU governments and institutions have to tackle a number of open issues in the implementation of the pact while recreating the political drive which made Maastricht a success.

Suggested Citation

  • Marco Buti & Gabriele Giudice, 2002. "Maastricht’s Fiscal Rules at Ten: An Assessment," Journal of Common Market Studies, Wiley Blackwell, vol. 40(5), pages 823-848, December.
  • Handle: RePEc:bla:jcmkts:v:40:y:2002:i:5:p:823-848
    DOI: 10.1111/1468-5965.00399
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1468-5965.00399
    Download Restriction: no

    File URL: https://libkey.io/10.1111/1468-5965.00399?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jcmkts:v:40:y:2002:i:5:p:823-848. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0021-9886 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.