This paper reviews and summarizes the literature that has concentrated on budget consolidations and their fiscal and economic effects. The issue of fiscal adjustments has again gained importance due to the recent economic crisis and the resulting fiscal imbalances. The existing literature shows...

The paper investigates empirically the interaction between economic growth performance and political institutions in producing free-market reform. In particular, we explore whether political regime types shape systematically government policy responses to good or bad growth performance,...

The paper investigates empirically the interaction between economic growth performance and political institutions in producing free-market reform. In particular, we explore whether political regime types systematically shape government policy responses to good or bad growth performance,...