Owing to slow growth and a relatively weak fiscal position, Portugal’s public debt had been rising for almost a decade when the global crisis struck, sharply increasing the deficit. The loss of confidence in Portuguese and other euro area sovereign bonds required international financial...

The challenge for fiscal policy in Slovakia is to achieve fiscal consolidation in a way which supports the fragile recovery and protects spending on areas which are important for re-embarking on a trajectory of high trend growth and underpinning a catch-up in living standards. While the recently...

Public Accounts Committees (PACs) has significant role to play in enhancing oversight and accountability for the use of public funds. This paper discusses the role of PACs in promoting effective, efficient and economic (EEEs) use of public resources for the benefit of the public. It also...

In November 2008, China announced a RMB4trn package of economic stimulus measures that also dealt with how it would be funded. As a result, in March 2009, the National People's Congress (China's parliament), with the approval of the central government, authorized the Ministry of Finance to issue...

Aus historischer Perspektive war die Einführung der Schuldenbremse vor 10 Jahren begründet worden. Im Vergleich zu Anfang der 60er Jahre hatte sich die Schuldenstandquote trotz Konso-lidierungsbemühungen unaufhaltsam von rund 20 auf 80 Prozent mehr als vervierfacht. Zudem war aufgrund eines...

The Partnerships pillar of the 2030 Agenda for Sustainable Development cuts across all the goals focusing on the mobilisation of resources needed to implement the agenda. Thailand’s “sufficiency economy philosophy” encourages the prioritisation of long-term sustainability over short-term...

Owing to slow growth and a relatively weak fiscal position, Portugal’s public debt had been rising for almost a decade when the global crisis struck, sharply increasing the deficit. The loss of confidence in Portuguese and other euro area sovereign bonds required international financial...

The challenge for fiscal policy in Slovakia is to achieve fiscal consolidation in a way which supports the fragile recovery and protects spending on areas which are important for re-embarking on a trajectory of high trend growth and underpinning a catch-up in living standards. While the recently...

In some ways, a 2012 symposium on “Dilemmas of State Debt” may seem a bit behind the news curve. At the end of 2010, municipal bond markets were in a deep funk. Analysts predicted that countless municipalities and perhaps one or more of the United States might default on their debt...

South Asia needs large infrastructure investments to achieve its development goals, and public investment can also support the Covid-19 recovery. Regression estimates that account for the quantity and quality of investment suggest that public infrastructure was a key driver of productivity...