This volume includes five self-contained chapters in the fields of public debt and fiscal transfer schemes. After an introduction to the topic, chapter 2 shows that the institutional setting of fiscal policy making needs to be considered when assessing the sustainability of fiscal policy. Using...

Dynamics of Balance of Payment developments are still barely researched. Chapter 1 tries to summarize empirical evidence between institutional determinants and BoP movements and proposes a framework for the role of institutions in a debt cycle. It is found that “good” institutions do help a...