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EU Independent Fiscal Institutions: An Assessment of Potential Effectiveness

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  • Michal Horvath

Abstract

The article explores if EU independent fiscal institutions (IFIs) are in a position to exercise effective scrutiny of national fiscal policies. It identifies substantial heterogeneity across IFIs in resources which is not matched by a similar diversity in mandates. In addition to financial and human resources, better access to information, effective comply†or†explain mechanisms and closer links with legislatures could enhance fiscal surveillance and accountability in the EU. The paper provides rankings of individual IFIs constructed based on measures that aggregate these pre†conditions for effective fiscal scrutiny.

Suggested Citation

  • Michal Horvath, 2018. "EU Independent Fiscal Institutions: An Assessment of Potential Effectiveness," Journal of Common Market Studies, Wiley Blackwell, vol. 56(3), pages 504-519, April.
    • Handle: RePEc:bla:jcmkts:v:56:y:2018:i:3:p:504-519
    DOI: 10.1111/jcms.12631
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    Cited by:

    1. Luc Eyraud & Xavier Debrun & Andrew Hodge & Victor Duarte Lledo & Catherine A Pattillo, 2018. "Second-Generation Fiscal Rules; Balancing Simplicity, Flexibility, and Enforceability," IMF Staff Discussion Notes 18/04, International Monetary Fund.
    2. Cristina Fasone, 2021. "Do Independent Fiscal Institutions Enhance Parliamentary Accountability in the Eurozone?," Politics and Governance, Cogitatio Press, vol. 9(3), pages 135-144.
    3. Larch, Martin & Busse, Matthias & Jankovics, László, 2021. "Enforcement of fiscal rules: Lessons from the fiscal compact," ZEW Discussion Papers 21-085, ZEW - Leibniz Centre for European Economic Research.
    4. Dotti, Valerio & Janeba, Eckhard, 2023. "Consistent flexibility: Enforcement of deficit rules through political incentives," European Journal of Political Economy, Elsevier, vol. 79(C).
    5. Haroutunian, Stephan & Bańkowski, Krzysztof & Bischl, Simeon & Bouabdallah, Othman & Hauptmeier, Sebastian & Leiner-Killinger, Nadine & O'Connell, Marguerite & Oleaga, Iñigo Arruga & Abraham, Laurent , 2024. "The path to the reformed EU fiscal framework: a monetary policy perspective," Occasional Paper Series 349, European Central Bank.
    6. Valerio Dotti & Eckhard Janeba, 2020. "Consistent Flexibility: Enforcement of Fiscal Rules through Political Incentives," CESifo Working Paper Series 8440, CESifo.
    7. Bethlendi, András & Lentner, Csaba & Póra, András, 2020. "Független költségvetési intézmények fejlődése a 2008-as válság után [Development of independent fiscal institutions since the crisis of 2008]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 787-808.
    8. Robert Csehi & Daniel F. Schulz, 2022. "The EU's New Economic Governance Framework and Budgetary Decision‐Making in the Member States: Boon or Bane for Throughput Legitimacy?," Journal of Common Market Studies, Wiley Blackwell, vol. 60(1), pages 118-135, January.
    9. Jankovics, László, 2021. "Költségvetési tanácsok az EU-ban - ölebek, vérebek vagy őrkutyák? [Fiscal councils in the EU: lapdogs, watchdogs or bloodhounds?]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 251-281.
    10. European Fiscal Board (EFB), 2023. "2023 annual report of the European Fiscal Board," Annual reports 2023, European Fiscal Board.

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