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Trimming the Sails : the Comparative Political Economy of Expansionary Fiscal Consolidations.
Fiscal consolidation has significant short term costs which dampen economic growth. This widely shared consensus in literature on political economy makes fiscal adjustment highly unpopular. Benczes conducts a systematic analysis to find out whether it is possible to have fiscal consolidation and exp...
| Clasificación: | Libro Electrónico |
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| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Central European University Press
2008.
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| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | Fiscal consolidation has significant short term costs which dampen economic growth. This widely shared consensus in literature on political economy makes fiscal adjustment highly unpopular. Benczes conducts a systematic analysis to find out whether it is possible to have fiscal consolidation and experience economic growth even in the short run. The book provides a clear, multidisciplinary and systematic analysis of the relatively new concept of the so-called expansionary fiscal consolidations. This concept suggests that fiscal adjustment can be in trade-off with economic growth if certain conditions are met. But why do only a few countries and only at certain times experience the expansionary effects, while others not at all? The necessary conditions and circumstances have been totally neglected in the literature, or analyzed only partially at best. Having evolved a theoretical framework, it is tested on a difficult case: Hungary, which has had the highest deficit in the European Union. The main question was whether Hungary has a chance to experience short term growth effects in times of adjustment. |
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| Descripción Física: | 1 online resource (269 pages) |
| Bibliografía: | Includes bibliographical references (pages 229-241) and index. |
| ISBN: | 128137704X 9781281377043 9789639776012 9639776017 9786155211324 6155211329 9786611377045 6611377042 143561237X 9781435612372 |