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Financial Effects of Fiscal Transparency: A Critique

Anton Gerunov ()

Bulgarian Economic Papers from Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski

Abstract: This paper investigates the effects of budget transparency on fiscal performance. It fits a panel regression model on data from the Open Budget Index through its five rounds (OBI 2006-OBI 2015) and investigates the effect of openness on budget balance, primary balance and government debt across a sample of 57 countries. We seek to validate the proposed positive effect of fiscal transparency on objective performance indicators. Main results show that the link between openness and budget balance is relatively weak, while the effect of OBI on debt is more robust. This effect is also differentiated, with the lowest and highest-income countries benefitting most from openness.

Keywords: budget; transparency; fiscal openness; deficit; debt (search for similar items in EconPapers)
JEL-codes: H61 H62 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2016-01, Revised 2016-01
New Economics Papers: this item is included in nep-acc, nep-fdg and nep-pbe
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Persistent link: https://EconPapers.repec.org/RePEc:sko:wpaper:bep-2016-01

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