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Budget reform in OECD member countries: Common trends

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  • Jón R. Blöndal

Abstract

From the early 1990s, the fiscal position of OECD member countries improved steadily each year, from a deficit of 5% of GDP for member countries as whole in 1993 to a perfect balance in the year 2000, i.e. neither a deficit nor a surplus. In 2001, member countries experienced a deficit of 1% of GDP. Table 1 depicts the general government financial balances of selected OECD member countries. This goes to show the historical pattern in member countries: achieving fiscal consolidation is a slow process and successes in fiscal consolidation can quickly dissipate. A very short time ago, several OECD member countries believed that they were on a long-term track for fiscal surpluses; the era of deficits had been overcome. This did not turn out to be the case; surpluses turned out to be a very short-lived phenomenon for many countries.

Suggested Citation

  • Jón R. Blöndal, 2003. "Budget reform in OECD member countries: Common trends," OECD Journal on Budgeting, OECD Publishing, vol. 2(4), pages 7-25.
    • Handle: RePEc:oec:govkaa:5lmqcr2k18xw
    DOI: 10.1787/budget-v2-art20-en
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    Cited by:

    1. Panagiotis Liargovas & Vasilis Pilichos & Anastasia Angelopoulou, 2021. "Fiscal governance and forecasting Bias: a case study of Greece during the economic crisis," Bulletin of Applied Economics, Risk Market Journals, vol. 8(2), pages 75-95.
    2. Tugen, Kamil & Akdeniz, H. Ahmet & Egeli, Haluk & Aksarayli, Mehmet & Ozen, Ahmet, 2008. "Analysis Of Critical Control Points Of Alternative Decisions On The Choice Of Performance Based Budgeting System: The Analysis Of The Practices In Turkey’S Public Institutions," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(3), pages 80-99, September.
    3. Ms. Davina F. Jacobs, 2008. "A Review of Capital Budgeting Practices," IMF Working Papers 2008/160, International Monetary Fund.
    4. Mara Andreea SÎNTEJUDEANU & Teodora Viorica FARCAS & Adriana TIRON TUDOR, 2014. "Public Sector Transparency:A Conceptual Dissection," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 4, pages 365-372, July.
    5. Győrffy, Dóra, 2005. "Az intézményi tényezők szerepe az államháztartási hiány alakulásában Magyarországon [The role of institutional factors in the development of budget deficit in Hungary]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(10), pages 755-773.
    6. Margit Schratzenstaller-Altzinger, 2006. "Teilstudie 12: Wachstumsimpulse durch die öffentliche Hand," WIFO Studies, WIFO, number 27451.

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