The Creation of the Fiscal Council in Estonia: Exploring the Explanations for Its Institutional Design

Ringa Raudla, Kati Keel and Mari Pajussaar

Public Budgeting & Finance, 2018, vol. 38, issue 2, 61-80

Abstract: In this paper, we explore the creation of the fiscal council (FC) in Estonia, using the perspectives of different strands of institutionalism. Our analysis shows that the institutional design of the FC was influenced, in tandem, by principal†agent considerations, transaction costs, existing institutional configurations, path dependence, and normative concerns of the bureaucratic agents in charge of creating the new body. We conclude that in order to understand and explain the motives and factors involved in institutional design, the explanatory angles provided by rational choice, historical and sociological institutionalism should be viewed as complementary rather than contradictory.

Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.1111/pbaf.12188

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:bla:pbudge:v:38:y:2018:i:2:p:61-80

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0275-1100

Access Statistics for this article

Public Budgeting & Finance is currently edited by Philip Joyce and William Simonsen

More articles in Public Budgeting & Finance from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().