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Who chooses to adopt fiscal responsibility laws? Evidence from emerging market economies

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  • John Thornton

Abstract

In recent years, at least 10 emerging market economies have sought to anchor their fiscal frameworks in fiscal responsibility laws. Key factors in the decision appear to include a prior improvement in fiscal discipline, particularly in the context of a federal fiscal system, substantial ethnic fractionalization and vulnerability to adverse shocks, such as real exchange rate volatility and inflation.

Suggested Citation

  • John Thornton, 2010. "Who chooses to adopt fiscal responsibility laws? Evidence from emerging market economies," Applied Economics Letters, Taylor & Francis Journals, vol. 17(8), pages 737-740.
    • Handle: RePEc:taf:apeclt:v:17:y:2010:i:8:p:737-740
    DOI: 10.1080/13504850802297947
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    1. William Easterly & Ross Levine, 1997. "Africa's Growth Tragedy: Policies and Ethnic Divisions," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(4), pages 1203-1250.
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