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-objective". Portugal has followed the contemporary capitalism model of governance since the 1980s, although Portuguese fiscal policy in the … numbers" and since joining the Euro Zone practically the only objective of Portugal's fiscal policy has been compliance with …
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This paper surveys the empirical research on fiscal institutions of the last three decades. The main results are: (i) Constitutional or statutory fiscal limitations have in most cases proved to be effective in cutting down public expenditure, revenue, and debt. (ii) Budgetary proce-dures matter...
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