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Public Financial Management Requirements for Effective Implementation of Fiscal Rules

In: The International Handbook of Public Financial Management

Author

Listed:
  • Ana Corbacho
  • Teresa Ter-Minassian

Abstract

Well-designed and effectively implemented fiscal rules hold a lot of promise. They may help contain a deficit bias, reduce the time inconsistency of budgetary policies, strengthen the credibility of a government’s commitment to fiscal sustainability and facilitate countercyclical fiscal management. By increasing the predictability of fiscal policy, fiscal rules can also lower output volatility and boost long-term growth.

Suggested Citation

  • Ana Corbacho & Teresa Ter-Minassian, 2013. "Public Financial Management Requirements for Effective Implementation of Fiscal Rules," Palgrave Macmillan Books, in: Richard Allen & Richard Hemming & Barry H. Potter (ed.), The International Handbook of Public Financial Management, chapter 2, pages 38-62, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-31530-4_3
    DOI: 10.1057/9781137315304_3
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    Citations

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    Cited by:

    1. Ardanaz, Martín & Ulloa-Suárez, Carolina & Valencia, Oscar, 2024. "Why don't we follow the rules? Drivers of compliance with fiscal policy rules in emerging markets," Journal of International Money and Finance, Elsevier, vol. 142(C).
    2. Jena, Pratap Ranjan, 2019. "Living under Fiscal Rules: Fiscal Management Response and Resource Allocation Choices for State of Odisha," Working Papers 19/264, National Institute of Public Finance and Policy.

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