Independent Fiscal Councils and Their Possible Role in Greece

Vassilis Th. Rapanoss and Georgia Kaplanoglou ()
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Vassilis Th. Rapanoss: University of Athens
Georgia Kaplanoglou: Bank of Greece

Economic Bulletin, 2010, issue 33, 7-20

Abstract: There is a growing interest in the role of independent fiscal councils in strengthening the incentives for fiscal discipline and improving fiscal performance. This paper discusses the motivation for the establishment of such councils and draws on the existing literature and the range of fiscal councils in OECD countries to discuss their key functions. In light of the recent fiscal crisis in Greece, the paper examines the potential role of such a council in enhancing fiscal transparency and accountability in the conduct of fiscal policy and sets out the conditions under which this role can be played effectively.

Keywords: fiscal councils; fiscal discipline; budget institutions; Greece (search for similar items in EconPapers)
JEL-codes: E62 H61 H62 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (31)

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Persistent link: https://EconPapers.repec.org/RePEc:bog:econbl:y:2010:i:33:p:7-20

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