03347nam 2200637 450 991046400480332120170816134630.01-4623-9313-61-4527-4101-81-282-84043-61-4518-6943-69786612840432(CKB)3170000000054993(EBL)1607818(SSID)ssj0000943984(PQKBManifestationID)11518467(PQKBTitleCode)TC0000943984(PQKBWorkID)10982472(PQKB)11537082(OCoLC)646904430(MiAaPQ)EBC1607818(EXLCZ)99317000000005499320140227h20082008 uy 0engur|n|---|||||txtccrBreaking the impediments to budgetary reforms evidence from Europe /Stefania Fabrizio and Ashoka Mody[Washington, District of Columbia] :International Monetary Fund,2008.©20081 online resource (33 p.)IMF Working PapersIMF working paper ;WP/08/82Description based upon print version of record.1-4519-1397-4 Includes bibliographical references.Contents; I. Introduction; II. Data and Empirical Approach; III. The Setting: War of Attrition; IV. Economic Shocks and Crises; V. Credibility: Does It Take Nixon To Go To China?; VI. Conclusions; Appendices; I. Quality of Budget Institutions; Appendix Tables; 1. Construction of the Index: Fiscal Institutions and Their Index Parameters; 2. Index of Quality of Budget Institutions; 3. Fiscal Institutions' Quality Index; II. Definitions and Sources of Variables Used in Regression Analysis; Tables; 1. War of Attrition; 2. Political Constraints; 3. Economic Shocks; 4. Crises and Reforms5. Credibility6. Model Predictions; Figures; 1. Average Value of Fiscal Institutions' Index, 1991-2004; 2. Quality of Fiscal Institutions' Index and Per Capita Income; 3. Fiscal Institutions' Index; 4. Interaction of Primary Balance and Fractionalization; 5. Nonlinear Effects in the Full Model; ReferencesUnder what conditions are budget institutions likely to be strengthened? We find that fiscal deficits do not help in focusing policymakers on undertaking reforms. To the contrary, the larger the deficit, the lower is the likelihood of reforms. Large deficits apparently imply strong claims on the budget and, hence, generate unwillingness to impose self-discipline. As such, countries will tend to move either to small fiscal deficits and good institutions or large deficits and weak institutions. Economic shocks (if they are large enough) can help build a constituency for improving budget institutIMF Working PapersBudget processEuropeBudget deficitsEuropeElectronic books.Budget processBudget deficits352.48Fabrizio Stefania888385Mody Ashoka888386MiAaPQMiAaPQMiAaPQBOOK9910464004803321Breaking the impediments to budgetary reforms1984641UNINA