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Budget Processes and Commitment to Fiscal Discipline

Author

Listed:
  • Jürgen von Hagen

    (University of Bonn, Institute for International Economic Policy, Lennèstraße 37, D-53113 Bonn)

  • Ian J. Harden

    (University of Sheffield, School of Law, Western Bank, Sheffield S10 2TN, UK)

Abstract

We present a framework of investigation into the political economy of the budget process. Our model suggests that institutional rules governing the budget process can be found to limit the importance of fiscal illusion. Empirical evidence supports that proposition. The choice of rules depends on the political environment as well as the dominant source of uncertainty in the budget process.

Suggested Citation

  • Jürgen von Hagen & Ian J. Harden, 2019. "Budget Processes and Commitment to Fiscal Discipline," Credit and Capital Markets, Credit and Capital Markets, vol. 52(4), pages 527-536.
  • Handle: RePEc:kuk:journl:v:52:y:2019:i:4:p:527-536
    DOI: 10.3790/ccm.52.4.527
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    Keywords

    Budget systems; Government expenditures and deficits; Collective choice;
    All these keywords.

    JEL classification:

    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures

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