Five Countries, Five Models – A Comparison of Fiscal Frameworks and Lessons for Finland

Iain Begg, Tero Kuusi and Olavi Kylliäinen

No 102, ETLA Working Papers from The Research Institute of the Finnish Economy

Abstract: Abstract In recent years, many countries have sought to transform their fiscal frameworks, with the aim of rendering their public finances more sustainable and preventing the emergence of fiscal problems. This report presents the findings of comparative research into the fiscal frameworks of five countries (Denmark, Ireland, the Netherlands, New Zealand and Sweden). All five countries have developed effective fiscal frameworks in the last two decades, and it is evident that they reflect both reactions to past episodes of fiscal laxity and the fostering of a broad consensus on the necessity of a more disciplined and robust framework. There are noteworthy differences of approach, with the implication that rather than there being an optimal framework, successful ones can take different forms. It is never easy to transplant what works in one national setting to another, but there are several insights from experience in the comparator countries which could help to enhance the Finnish fiscal framework. See also publication General Government Fiscal Frameworks and Their Development Needs in Finland.

Keywords: Fiscal policy; Fiscal rules; Expenditure ceilings (search for similar items in EconPapers)
JEL-codes: E62 H30 H61 P52 (search for similar items in EconPapers)
Pages: 72 pages
Date: 2023-04-11
New Economics Papers: this item is included in nep-eec and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.etla.fi/wp-content/uploads/ETLA-Working-Papers-102.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rif:wpaper:102

Ordering information: This working paper can be ordered from
https://www.etla.fi/ ... lessons-for-finland/

Access Statistics for this paper

More papers in ETLA Working Papers from The Research Institute of the Finnish Economy Contact information at EDIRC.
Bibliographic data for series maintained by Kaija Hyvönen-Rajecki ().