What are the effects of fiscal rules on fiscal discipline in the European Union?

Quels sont les effets des règles budgétaires sur la discipline budgétaire en Union Européenne ?

Amélie Barbier, Kea Baret and Alexandru Minea

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Abstract: We study the impact of national fiscal rules on fiscal discipline in the European Union. Our impact analysis, that accounts for potential endogeneity, shows that national fiscal rules significantly improve our new measure of fiscal discipline, namely Global Financial Performance Index (GFPI). In addition, we show that this favorable effect dramatically depends upon the type of fiscal rule and different structural factors. These two features, together with alternative measures of fiscal discipline, are found to be key ingredients that should be taken into account when assessing the effects of fiscal rules on fiscal discipline.

Keywords: fiscal discipline; national fiscal rules (search for similar items in EconPapers)
Date: 2021-03
New Economics Papers: this item is included in nep-cwa and nep-mac
Note: View the original document on HAL open archive server: https://uca.hal.science/hal-03509466v1
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Citations: View citations in EconPapers (4)

Published in 2021

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03509466

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