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Budgetary institutions and fiscal discipline: Edmund Burke's insightful contribution

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  • John Considine

Abstract

Recent developments in the political economy of public finance literature have focused on the features of budgetary institutions that facilitate budgetary discipline — a sub-discipline of constitutional economics. In this literature, there has been no attempt to trace the development of economic thought on the relationship between budgetary institutions and fiscal discipline. This may be because debt accumulation in peacetime is seen as a late twentieth-century phenomenon. As a result, Edmund Burke's contribution, in his speech 'On Economical Reform', seems to have been forgotten. This paper highlights Burke's contribution and identifies the extent to which it captures those features of budgetary institutions that are currently recognized as facilitating budgetary discipline.

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  • John Considine, 2002. "Budgetary institutions and fiscal discipline: Edmund Burke's insightful contribution," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(4), pages 591-607.
    • Handle: RePEc:taf:eujhet:v:9:y:2002:i:4:p:591-607
    DOI: 10.1080/0967256021000024691
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    References listed on IDEAS

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    1. Alberto F. Alesina & Roberto Perotti, 1999. "Budget Deficits and Budget Institutions," NBER Chapters, in: Fiscal Institutions and Fiscal Performance, pages 13-36, National Bureau of Economic Research, Inc.
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    1. Étienne Farvaque & Martial Foucault & Marcelin Joanis, 2015. "L’endettement public des provinces canadiennes : Les règles d’équilibre budgétaire sont-elles efficaces?," CIRANO Working Papers 2015s-10, CIRANO.

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