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Schwächen Fiskalregeln öffentliche Investitionen?

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  • Sebastian Blesse
  • Florian Dorn
  • Max Lay

Abstract

In Zeiten hoher Investitionsbedarfe, insbesondere für die Digitalisierung oder zur Förderung der Energiewende und klimaneutralen Wirtschaft und Gesellschaft, wird oftmals kritisiert, Fiskalregeln würden die notwendigen öffentlichen Investitionen bremsen. Eine Analyse der bestehenden empirischen Literatur zeigt jedoch keine Hinweise darauf, dass Fiskalregeln öffentliche Investitionen systematisch beeinflussen. Die empirische Evidenz zeigt aber auch, dass es auf die Ausgestaltung der eingesetzten Fiskalregeln ankommt. Flexible, investitionsfreundliche Fiskalregeln können öffentliche Investitionen steigern, im Vergleich zu starren fiskalischen Regeln, die diese eher verhindern. Allerdings gehen eine höhere Flexibilität und somit die höheren Investitionsausgaben oft mit höheren staatlichen Defiziten einher. Wenn öffentliche Investitionen erhöht werden sollen, ohne die fiskalische Nachhaltigkeit zu vernachlässigen, gilt es vor allem bei der Weiterentwicklung der Fiskalregeln, diesen Zielkonflikt zu überwinden.

Suggested Citation

  • Sebastian Blesse & Florian Dorn & Max Lay, 2023. "Schwächen Fiskalregeln öffentliche Investitionen?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 76(06), pages 22-28, June.
    • Handle: RePEc:ces:ifosdt:v:76:y:2023:i:06:p:22-28
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