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Institutions and Fiscal Sustainability

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  • Rose, Shanna

Abstract

As budgetary commitments outpace current revenues and long-term liabilities balloon, the fiscal sustainability of state and local governments is a matter of mounting concern. Over the years, these governments have experimented with a wide variety of political and fiscal institutions, ranging from direct democracy to balanced budget rules, with the goal of slowing the growth of government and increasing financial responsibility. This article synthesizes the related empirical literature, summarizing what we know (and don’t know) about the effectiveness of various rules and procedures in promoting fiscal sustainability.

Suggested Citation

  • Rose, Shanna, 2010. "Institutions and Fiscal Sustainability," National Tax Journal, National Tax Association;National Tax Journal, vol. 63(4), pages 807-837, December.
    • Handle: RePEc:ntj:journl:v:63:y:2010:i:4:p:807-37
    DOI: 10.17310/ntj.2010.4.11
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    Cited by:

    1. Wenchi Wei, 2021. "State fiscal constraint and local overrides: a regression discontinuity design estimation of the fiscal effects," Public Choice, Springer, vol. 189(3), pages 347-373, December.
    2. Carolyn‐Dung Thi Thanh Tran & Brian Dollery, 2021. "All in the Mind: Citizen Satisfaction and Financial Performance in the Victorian Local Government System," Australian Accounting Review, CPA Australia, vol. 31(1), pages 51-64, March.
    3. C. Randall HENNING & Martin KESSLER, 2012. "Fiscal Federalism: US History for Architects of Europe’s Fiscal Union," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 1-31.
    4. Baldi, Guido & Forster, Stephan, 2019. "Political Budget Cycles: Evidence from Swiss Cantons," EconStor Preprints 195930, ZBW - Leibniz Information Centre for Economics.
    5. Pierre C. Boyer & Brian Roberson & Christoph Esslinger, 2024. "Public Debt and the Political Economy of Reforms," American Economic Journal: Microeconomics, American Economic Association, vol. 16(3), pages 459-491, August.
    6. Asatryan, Zareh & Castellón, César & Stratmann, Thomas, 2018. "Balanced budget rules and fiscal outcomes: Evidence from historical constitutions," Journal of Public Economics, Elsevier, vol. 167(C), pages 105-119.
    7. Iuliia Shybalkina, 2021. "The role of organized groups in administrative burdens of property taxation," Journal of Behavioral Public Administration, Center for Experimental and Behavioral Public Administration, vol. 4(1).
    8. Jeffrey Swanson & Namhoon Ki, 2020. "When Would a Democratic Governor Increase Social Welfare Funding? The Joint Moderation of a State's Economy and a Governor's Budgetary Authority," Review of Policy Research, Policy Studies Organization, vol. 37(5), pages 634-656, September.
    9. Lucie Sedmihradská & Jakub Haas, 2013. "Budget Transparency and Fiscal Performance: Do Open Budgets Matter?," ACTA VSFS, University of Finance and Administration, vol. 7(2), pages 109-122.
    10. J. Sebastian Leguizamon & Casto Martin Montero Kuscevic, 2019. "Party Cues, Political Trends, And Fiscal Interactions In The United States," Contemporary Economic Policy, Western Economic Association International, vol. 37(4), pages 600-620, October.
    11. Haizhen Mou & Maritza Lozano Man Hing, 2021. "Stringency of balanced budget laws and transparency of budgeting process," Public Budgeting & Finance, Wiley Blackwell, vol. 41(2), pages 45-64, June.
    12. Andrea Louise Campbell & Michael W. Sances, 2013. "State Fiscal Policy during the Great Recession," The ANNALS of the American Academy of Political and Social Science, , vol. 650(1), pages 252-273, November.
    13. Pengju Zhang, 2018. "The unintended impact of tax and expenditure limitations on the use of special districts: the politics of circumvention," Economics of Governance, Springer, vol. 19(1), pages 21-50, February.
    14. Bayan Mohamad Alshaib & Abdullah Mohammad Ghazi Al khatib & Alina Cristina Nuta & Mohamad Hamra & Pradeep Mishra & Rajani Gautam & Sarfraz Hussain & Cristina Gabriela Zamfir, 2023. "Fiscal Sustainability and Its Implications for Economic Growth in Egypt: An Empirical Analysis," SAGE Open, , vol. 13(4), pages 21582440231, December.
    15. Rajashri Chakrabarti & Nicole Gorton & Joydeep Roy, 2018. "Getting ahead by spending more? Local community response to state merit aid programs," Staff Reports 872, Federal Reserve Bank of New York.
    16. Niklas Potrafke, 2023. "The Economic Consequences of Fiscal Rules," CESifo Working Paper Series 10765, CESifo.
    17. Matthew Walshe, 2019. "Does Local Government Autonomy Promote Fiscal Sustainability? Lessons from Illinois," IMFG Papers 42, University of Toronto, Institute on Municipal Finance and Governance.
    18. Azzimonti, Marina & Battaglini, Marco & Coate, Stephen, 2016. "The costs and benefits of balanced budget rules: Lessons from a political economy model of fiscal policy," Journal of Public Economics, Elsevier, vol. 136(C), pages 45-61.
    19. Jinhee Jo & Lawrence S. Rothenberg, 2020. "Budgetary choices and institutional rules: veto rules and budget volatility," Economics of Governance, Springer, vol. 21(1), pages 1-25, March.
    20. Miyazaki, Tomomi, 2014. "Fiscal reform and fiscal sustainability: Evidence from Australia and Sweden," International Review of Economics & Finance, Elsevier, vol. 33(C), pages 141-151.
    21. Fisayo Fagbemi, 2020. "Assessing the Role of Governance in West African Fiscal Performance," The American Economist, Sage Publications, vol. 65(1), pages 97-122, March.
    22. Yoshinori Nakagawa & Real Arai & Koji Kotani & Masanobu Nagano & Tatsuyoshi Saijo, 2018. "Is an intergenerational retrospective viewpoint effective in forming policy preferences for financial sustainability in local and national economies? A deliberative experimental approach," Working Papers SDES-2018-6, Kochi University of Technology, School of Economics and Management, revised Sep 2018.
    23. Ellen C. Seljan, 2015. "Ready to Bargain: The Effect of Fiscal Stress on Supermajority Requirements to Raise Taxes," Public Budgeting & Finance, Wiley Blackwell, vol. 35(3), pages 24-43, September.
    24. Coate, Stephen & Milton, Ross T., 2019. "Optimal fiscal limits with overrides," Journal of Public Economics, Elsevier, vol. 174(C), pages 76-92.
    25. Li, Tianyu & Du, Tongwei, 2021. "Vertical fiscal imbalance, transfer payments, and fiscal sustainability of local governments in China," International Review of Economics & Finance, Elsevier, vol. 74(C), pages 392-404.

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