countries over the past two decades. It finds strong effects on fiscal policy from such factors as type of electoral system …It is now well established that political and institutional factors matter for fiscal outcomes. Following a review of … the literature, this paper examines the relationship between a variety of political-institutional variables and fiscal …

argued that expenditure ceilings are effective in promoting fiscal discipline and sustainability, but that a number of trade …-offs have to be made when setting up a fiscal framework that will survive in a politically charged environment. The paper … illustrates the discussion with a case study of medium-term aggregate expenditure ceilings in three countries: Finland, the …

fiscal instruments to deal with regional shocks. We assess how these features influence the magnitude and persistence of … factors behind these outcomes and policy implications. …

The paper surveys the role of financial markets and fiscal institutions in the transformation process going on in … allocate them efficiently; and (c) the major reforms necessary in the fiscal area. It also calls attention to the extent to … which monetary and fiscal policies overlap in these countries and the implications of that overlapping. …

defense spending, expansion reflected a baby-boom driven rise in education spending. The parallel improvement in tax … lead to a more efficient tax system. …

This paper investigates the effect of fiscal transparency on market assessments of sovereign risk, as measured by … fiscal policies and outcomes), and it differentiates between advanced and developing economies. Fiscal transparency is … measured by an index based on the IMF’s Reports on the Observance of Standards and Codes (ROSCs). We find that fiscal …

conduct of fiscal policy not analyzed here, for instance, through enhanced transparency and guidance in the budget process and …In recent years, many countries have adopted Fiscal Responsibility Laws to strengthen fiscal institutions and promote … fiscal discipline in a credible, predictable and transparent manner. Still, results on the effectiveness of these laws remain …

The paper notes that the development of sound budgetary institutions in countries such as France, the U.K. and the U …

Recent work on the political economy of fiscal policy has asked how budgetary institutions affect fiscal outcomes. But … what determines the budgetary institutions? In this paper I consider one such institution: the executive veto. A simple … theoretical framework predicts that jurisdictions with more political actors spending from a common pool of tax resources will …