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Fiscal Policy and Growth in the Context of European Integration

Author

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  • Mr. Paul R Masson

Abstract

The paper considers the issue of whether a supranational fiscal policy in Europe is needed, and, if so, what responsibilities it should undertake. The literature on endogenous growth and the principle of subsidiarity suggest that such a policy should be limited to externalities or economies of scale not captured at the national level. These may include spending on research and development and transportation or knowledge networks, and harmonization of social security designed to enhance labor mobility. EU-wide stabilization policy or enhanced EU redistribution does not seem justified, however.

Suggested Citation

  • Mr. Paul R Masson, 2000. "Fiscal Policy and Growth in the Context of European Integration," IMF Working Papers 2000/133, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2000/133
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    Cited by:

    1. Fritz Breuss, 2001. "Towards a Political Economy of Zero Budgeting in Austria," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 28(1), pages 41-67, March.
    2. Hefeker, Carsten, 2003. "Ressourcenverteilung in der EU: Eine polit-okonomische Perspektive," Discussion Paper Series 26229, Hamburg Institute of International Economics.
    3. Patrick Bisciari & Alain Durré & Alain Nyssens, 2003. "Stock market valuation in the United States," Working Paper Document 41, National Bank of Belgium.
    4. Vratislav Izák, 2011. "The Welfare State and Economic Growth," Prague Economic Papers, Prague University of Economics and Business, vol. 2011(4), pages 291-308.
    5. Ivo Maes, 2002. "On the origins of the Franco-German EMU controversies," Working Paper Research 34, National Bank of Belgium.
    6. Ismael Sanz & Francisco J. Velázquez, 2006. "Has European Economic Integration Affected The Functional Composition Of Government Expenditures?," Contemporary Economic Policy, Western Economic Association International, vol. 24(2), pages 300-315, April.
    7. Alberto Majocchi, 2008. "Theories of fiscal federalism and the European experience," ISAE Working Papers 100, ISTAT - Italian National Institute of Statistics - (Rome, ITALY).
    8. Monga, Celestin, 2004. "Latvia's macroeconomic options in the medium term : fiscal and monetary challenges of European Union membership," Policy Research Working Paper Series 3307, The World Bank.
    9. George VAN GASTEL & François COPPENS & Hilde MEERSMAN & Nathalie SELLEKAERTS & Eddy VAN DE VOORDE & Thierry VANELSLANDER & Ann VERHETSEL, 2010. "Economic Impact of Port Activity: A Disaggregate Analysis. The Case of Antwerp," Regional and Urban Modeling 284100044, EcoMod.
    10. Luc Aucremann & David Cornille, 2001. "Attractive prices and euro-rounding effects on inflation," Working Paper Document 17, National Bank of Belgium.

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    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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