Fiscal decentralization, fiscal rules and fiscal discipline

Date

2013

Authors

Neyapti, B.

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Abstract

Fiscal decentralization (FD) and fiscal rules (FR) are institutional mechanisms that are implemented by varying degrees in increasing number of countries. This paper investigates empirically the effect of FR on the effectiveness of FD in achieving fiscal discipline. Panel evidence strongly supports that balanced budget and expenditure rules help FD to achieve this goal, while debt rule has a direct disciplinary effect.

Source Title

Economics Letters

Publisher

Elsevier

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Published Version (Please cite this version)

Language

English