Does globalization restrict budgetary autonomy? A multidimensional approach
Does globalization restrict the leeway for national budgetary policy? With the help of cluster and discriminant analysis this study provides evidence on the basis of the experience of OECD countries since the 1970s. Four budgetary dimensions are included in the analysis: tax structure, expenditure structure, public debt and budget size. Globalization as a potential driving force for changes in government finance is identified in form of variables on the existence of capital and current account restrictions, on the exposure to international trade and the exchange rate regime. The results suggest that globalization does indeed matter for government budgets. However, substantial room for an individual national policy particularly in regard to expenditure structure and public debt is left.
|Date of creation:||1999|
|Contact details of provider:|| Postal: L 7,1; D - 68161 Mannheim|
Web page: http://www.zew.de/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Stirböck, Claudia & Heinemann, Friedrich, 1999. "Capital Mobility within EMU," ZEW Discussion Papers 99-19, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Sinn, Hans-Werner, 1994.
"How Much Europe? Subsidiarity, Centralization and Fiscal Competition,"
Scottish Journal of Political Economy,
Scottish Economic Society, vol. 41(1), pages 85-107, February.
- Sinn, Hans-Werner, 1994. "How much Europe? Subsidiarity, centralization and fiscal competition," Munich Reprints in Economics 19838, University of Munich, Department of Economics.
- Sinn, Hans-Werner, 1993. "How Much Europe? Subsidiarity, Centralization and Fiscal Competition," CEPR Discussion Papers 834, C.E.P.R. Discussion Papers.
- Günther G. Schulze & Heinrich W. Ursprung, 1999. "Globalisation of the Economy and the Nation State," The World Economy, Wiley Blackwell, vol. 22(3), pages 295-352, 05.
- Heinemann, Friedrich, 1999. "Exchange rate regimes and fiscal discipline in OECD countries," ZEW Discussion Papers 99-04, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Timothy D. Lane, 1993. "Market Discipline," IMF Staff Papers, Palgrave Macmillan, vol. 40(1), pages 53-88, March.
- Francesco P Mongelli, 1997. "Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments," IMF Working Papers 97/93, .
When requesting a correction, please mention this item's handle: RePEc:zbw:zewdip:5244. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.