Design of fiscal frameworks and compliance with fiscal rules in CESEE

Wolf Heinrich Reuter

Focus on European Economic Integration, 2016, issue 3, 29–40

Abstract: This paper analyzes the fiscal frameworks (i.e. the fiscal rules, fiscal councils and medium- term budgetary frameworks) in place in the 11 Central, Eastern and Southeastern European (CESEE) countries among the 28 EU Member States (EU-28). In recent years especially, these countries have significantly expanded and strengthened their fiscal frameworks, relying mostly on debt and expenditure rules with quite strong medium-term budgetary frameworks (MTBFs). The 11 CESEE EU countries adhered to their own fiscal rules in approximately 65% of the years between 1995 and 2015, mainly due to their very high compliance with debt and expenditure rules. While average compliance is currently higher in the CESEE EU countries than in the EU-28, it is actually decreasing over time, while increasing in the EU-28 sample.

Keywords: fiscal frameworks; compliance with fiscal rules; fiscal councils; medium-term budgetary framework (search for similar items in EconPapers)
JEL-codes: H11 H60 (search for similar items in EconPapers)
Date: 2016
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