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Do National Fiscal Rules Support Numerical Compliance with EU Fiscal Rules?

Author

Listed:
  • Cristiana Belu Manescu
  • Elva Bova
  • Martijn Hoogeland
  • Philipp Mohl

Abstract

This paper investigates how national fiscal rules have supported numerical compliance with EU fiscal rules. Using a novel dataset of numerical compliance with national fiscal rules, the relationship between national and EU rule compliances is explored using both descriptive analysis and panel regression analysis applied for fiscal rules in place between 1998 and 2019. The descriptive analysis shows that compliance with national and EU rules is on average higher in low-debt situations, with compliance with EU fiscal rules somehow higher than for national rules. Panel regressions show that the simple presence of a national fiscal rule does not seem to matter for EU rule compliance. However, national rules that are complied with and are well designed are associated with compliance with almost all types of EU fiscal rules. Against the usual caveats on panel regressions, the results suggest that rule design, monitoring and enforcement can enhance ownership and therefore compliance with numerical fiscal rules.

Suggested Citation

  • Cristiana Belu Manescu & Elva Bova & Martijn Hoogeland & Philipp Mohl, 2023. "Do National Fiscal Rules Support Numerical Compliance with EU Fiscal Rules?," European Economy - Discussion Papers 181, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    • Handle: RePEc:euf:dispap:181
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    File URL: https://economy-finance.ec.europa.eu/publications/do-national-fiscal-rules-support-numerical-compliance-eu-fiscal-rules_en
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    Cited by:

    1. Carnazza, Giovanni & Renström, Thomas I. & Spataro, Luca, 2023. "Is public debt environmentally friendly? The role of EU fiscal rules on environmental quality: An empirical assessment," FEEM Working Papers 339126, Fondazione Eni Enrico Mattei (FEEM).
    2. Giovanni Carnazza & Thomas I. Renström & Luca Spataro, 2023. "Is public debt environmentally friendly? The role of EU fiscal rules on environmental quality: An empirical assessment," Working Papers 2023.26, Fondazione Eni Enrico Mattei.

    More about this item

    JEL classification:

    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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