Fiscal Rules [electronic resource] : Useful Policy Framework or Unnecessary Ornament? / George Kopits.
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TextSeries: IMF Working Papers; Working Paper ; No. 01/145Publication details: Washington, D.C. : International Monetary Fund, 2001Description: 1 online resource (24 p.)ISBN: 1451856547 :ISSN: 1018-5941Subject(s): Capital Expenditure | Deficit | Expenditure | Fiscal Policy Rules | Fiscal Rules | Investment | Argentina | Brazil | New ZealandAdditional physical formats: Print Version:: Fiscal Rules : Useful Policy Framework or Unnecessary Ornament?Online resources: IMF e-Library | IMF Book Store Abstract: With the primary objective of conferring credibility on macroeconomic policies, an increasing number of advanced and emerging market economies have adopted various forms of fiscal rules (mainly balanced-budget requirements and debt limits). In contrast to previous fiscal rules, many of which lacked transparency, recently introduced rules have the potential of serving as a useful depoliticized policy framework, and over time, can contribute to stability and growth. To this end, they need to be well designed and supported by an appropriate institutional infrastructure.
With the primary objective of conferring credibility on macroeconomic policies, an increasing number of advanced and emerging market economies have adopted various forms of fiscal rules (mainly balanced-budget requirements and debt limits). In contrast to previous fiscal rules, many of which lacked transparency, recently introduced rules have the potential of serving as a useful depoliticized policy framework, and over time, can contribute to stability and growth. To this end, they need to be well designed and supported by an appropriate institutional infrastructure.
Description based on print version record.
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