BazEkon - The Main Library of the Cracow University of Economics

BazEkon home page

Main menu

Franek Sławomir (University of Szczecin, Poland)
Diversity of Public Finance Management Instruments in EU Countries
Optimum : Economic Studies, 2018, nr 3(93), s. 63-75, tab., bibliogr. s. 73-75
Reguły fiskalne, Instrumenty zarządzania, Finanse publiczne, Zarządzanie finansami
Fiscal rules, Management instruments, Public finance, Financial management
JEL Classification: H61, H50, E62
The aim of the paper is to evaluate the implementation of public management instruments such as: independent fiscal institutions, fiscal rules and medium-term budgetary frameworks, with reference to the requirements set by EU legislation. The author uses a comparative analysis of the solutions applied in individual EU countries - based on the database of independent fiscal institutions, fiscal rules and medium-term budgetary frameworks published by the European Commission. EU regulations ('six-pack', 'two-pads') are described as regards the implementation of independent fiscal institutions, fiscal rules and medium-term budgetary frameworks. On the basis of a literature review, the influence of these instruments on the creation of fiscal stability conditions is assessed. The conducted analysis of the solutions applied in individual countries made it possible to indicate the lack of a uniform model for the functioning of individual instruments in EU countries. Additionally, it was found that the highest dynamics of these instruments can be observed in those countries which have experienced significant fiscal tensions in recent years. (original abstract)
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
Full text
  1. Alesina A., Bayoumi T., 1996, The costs and benefits of fiscal rules: evidence from US states, NBER Working Paper, no. 5614.
  2. Abbas A.S.M., Basdevant O., Eble S., Everaert G., Gottschalk J., Hasanov F., Park J., Sancak C., Velloso R., Villafuerte M., 2010, Strategies for Fiscal Consolidation in the Post-Crisis World, IMF, Washington.
  3. Annett A., 2006, Enforcement and the Stability and Growth Pact: How Fiscal Policy Did and Did not Change under Europe's Fiscal Framework, Working Paper, no. 06/116, IMF.
  4. Arezki R., Ismail K., 2013, Boom-Bust Cycle, Asymmetrical Fiscal Response and the Dutch Disease, "Journal of Development Economics", vol. 101, DOI: 10.1016/j. jdeveco.2012.11.007.
  5. Badinger H., Reuter W.H., 2017, The case for fiscal rules, "Economic Modelling", vol. 60, DOI: 10.1016/j.econmod.2016.09.028.
  6. Beetsma R., Bluhm B., Giuliodori M., Wierts P., 2011, From First-Release to Ex-Post Fiscal Data: Exploring the Sources of Revision Errors in the EU, CEPR Discussion Paper no. DP8413.
  7. Beetsma R., Giuliodori M., Wierts P., 2009, Planning to Cheat: EU Fiscal Policy in Real Time, "Economic Policy", vol. 24, DOI: 10.1111/j.1468-0327. 2009.00230.x.
  8. Bergman U. M., Hutchison M., 2015, Economic Stabilization in the Post-Crisis World: Are Fiscal Rules the Answer?, "Journal of International Money and Finance", vol. 52, DOI: 10.1016/j.jimonfin.2014.11.014.
  9. Brzozowski M., Siwińska-Gorzelak J., 2010, The Impact of Fiscal Rules on Fiscal Policy Volatility, "Journal of Applied Economics", vol. 13, DOI: 10.1016/ S1514-0326 (10)60010-4.
  10. Debrun X., Kinda, T., 2014, Strengthening post-crisis fiscal credibility-fiscal councils on the rise: A new dataset, IMF Working Paper, no. 14/58.
  11. Dessus S., Diaz Sanchez J.L., Varoudakis A., 2013, Fiscal Rules and the Procyclicality of Public Investment in the West African Economic and Monetary Union, The World Bank Policy Research Working Paper Series, no. 6562.
  12. Fiscal rules database, European Commission,
  13. Frankel J., Schreger J., 2013, Over-optimistic official forecasts and fiscal rules in the Eurozone, "Review of World Economics", vol. 149, no. 2.
  14. Guerguil M., Mandon P., Tapsoba R., 2017, Flexible Fiscal Rules and Countercyclical Fiscal Policy, "Journal of Macroeconomics", vol. 52, DOI: 10.1016/j.jmacro. 2017.04.007.
  15. Heinemann F., Osterloh S., Kalb, A., 2014, Sovereign risk premia: The link between fiscal rules and stability culture, "Journal of International Money and Finance", vol. 41, DOI: 10.1016/j.jimonfin.2013.11.002.
  16. Holm-Hadulla F., Hauptmeier S., Rother P., 2012, The impact of numerical expenditure-rules on budgetary discipline over the cycle, "Applied Economics", vol. 44, DOI: 10.1080/00036846.2011.572855.
  17. Independent fiscal institutions, European Commission, databases/fiscal-governance-eu-member-states/independent-fiscal-institutions_en.
  18. Jonung L., Larch M., 2006, Improving Fiscal Policy in the EU: The Case for Independent Forecasts, "Economic Policy", vol. 21, no. 47.
  19. Moulin L., Wierts P., 2006, How Credible Are Multiannual Budgetary Plans In The EU?, SSRN, DOI: 10.2139/ssrn.2005228.
  20. Nerlich C., Reuter W.H., 2013, The design of national fiscal frameworks and their budgetary Impact, ECB Working Paper 1588, Frankfurt am Main.
  21. Piotrowska-Marczak K., 2011, Współczesne kierunki zarządzania finansami publicznymi, [w:] Instrumenty nowego zarządzania finansami publicznymi w wybranych krajach Unii Europejskiej, Temida 2, Bialystok.
  22. Postuła M., 2015, Instrumenty zarządzania finansami publicznymi, Wydawnictwo Naukowe Wydziału Zarządzania UW, Warszawa.
  23. Strauch R., Hallerberg M., von Hagen J., 2004, Budgetary Forecasts in Europe - the Track Record of Stability and Convergence Programmes, ECB Working Paper, no. 307, Frankfurt am Main.
  24. Tapsoba R., 2012, Do National Numerical Fiscal Rules Really Shape Fiscal Behaviours in Developing Countries? A Treatment Effect Evaluation, "Economic Modelling", vol. 29(4), DOI: 10.1016/j.econmod.2012.03.003.
  25. Vlaicu R., Verhoeven M., Grigoli F., Mills Z., 2014, Multiyear budgets and fiscal performance: Panel data evidence, "Journal of Public Economics", vol. 111, DOI: 10.1016/ j.jpubeco.2013.12.011.
  26. von Hagen J., 2010, Sticking to Fiscal Plans: The Role of Fiscal Institutions, "Public Choice", vol. 144(3-4).
Cited by
Share on Facebook Share on Twitter Share on Google+ Share on Pinterest Share on LinkedIn Wyślij znajomemu