Politische und Institutionelle Determinanten der Staatsverschuldung

Wagschal Uwe
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Wagschal Uwe: Universität Bremen Zentrum für Sozialpolitik - Barkhof - Parkallee 39 D - 28209 Bremen

Zeitschrift für Wirtschaftspolitik, 1998, vol. 47, issue 2, 220-248

Abstract: Determinants of public debt and deficits are nowadays considered as central issues of economic and financial policy. Concerning a decreasing capacity to act due to financial restrictions the consequences for governments can be serious. The main research question is: which political and institutional factors are responsible for increasing debt and deficits and which factors rather tend to confine them. Starting with a discussion of theories related to public debt, the paper than examines possible determinants. The focus is on certain institutions such as elections, strong governments, central bank independence or direct democracy. Furthermore, the role of parties and the complexion of governments is analysed. In the centre of interest are western industrialised nations, which are members of the OECD.

Date: 1998
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DOI: 10.1515/zfwp-1998-0206

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