Fiscal Performance, Institutional Design and Decentralization in European Union Countries
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Summary:
This paper analyzes the impact of decentralization on overall fiscal performance in the European Union, taking into account fiscal institutional arrangements. We find that spending decentralization has been associated with sizably better fiscal performance, especially when transfer dependency of subnational governments is low. However, subnational fiscal rules do not seem to be associated with better performance.
Series:
Working Paper No. 2012/045
Subject:
Expenditure Fiscal federalism Fiscal policy Fiscal rules Fiscal stance General government spending Public financial management (PFM)
English
Publication Date:
February 1, 2012
ISBN/ISSN:
9781463936464/1018-5941
Stock No:
WPIEA2012045
Pages:
32
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