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Medium-term budgetary framework in the EU Member States: study case

Author

Listed:
  • Dogaru, Tatiana-Camelia
  • Dumitrescu-Peculea, Adelina

Abstract

The current economic crisis has called for huge fiscal efforts to avoid a deflationary spiral. In the context of the crisis, the national fiscal frameworks may play an important role in sustaining budgetary retrenchment. Therefore, the need for a fiscal consolidation, meaning a well-designed fiscal and budgetary policy is a challenge for all EU Member States. Moreover, the importance of strong and resilient fiscal frameworks has been emphasised by the October 2009 Council conclusions on the fiscal exit strategy. On this premise, the paper discusses what elements and considerations should be taken into account more carefully in designing resilient fiscal frameworks so as to support optimal policy-making and to promote the respect of the Stability and Growth Pact provisions. The unit analysis consists on several EU Member States, affected by economic crisis. Taking into consideration the aim of the paper, the research methodology is based on a case study as research strategy, and uses the triangulation method to obtain confirmation of findings through convergence of different perspective. Regarding the qualitative research, the authors use theoretical framework, legal analyses, systematic and analytical collecting data from official written sources, and macroeconomic indicators for quantitative aspects.

Suggested Citation

  • Dogaru, Tatiana-Camelia & Dumitrescu-Peculea, Adelina, 2016. "Medium-term budgetary framework in the EU Member States: study case," MPRA Paper 94482, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:94482
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    References listed on IDEAS

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    1. Xavier Debrun & Laurent Moulin & Alessandro Turrini & Joaquim Ayuso-i-Casals & Manmohan S. Kumar, 2008. "Tied to the mast? National fiscal rules in the European Union [‘Constitutions, politics, and economics’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 23(54), pages 298-362.
    2. Mr. Erik J. Lundback, 2008. "Medium-Term Budgetary Frameworks - Lessons for Austria from International Experience," IMF Working Papers 2008/163, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • D00 - Microeconomics - - General - - - General
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • H1 - Public Economics - - Structure and Scope of Government

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