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Google圖書搜尋
Institutional Arrangements and Fiscal Performance
Ernesto Stein
Ernesto Talvi
Alejandro Grisanti
其他書名
The Latin American Experience
出版
National Bureau of Economic Research
, 1998
URL
http://books.google.com.hk/books?id=rFmzAAAAIAAJ&hl=&source=gbs_api
註釋
This paper explores the links between institutional arrangements and fiscal performance in Latin America. We consider four measures of fiscal performance, namely expenditures, the size of fiscal deficits and debt, and the response of fiscal policy to business fluctuations; and two institutional dimensions, namely, electoral systems and budgetary processes. We find evidence that electoral systems characterized by a large degree of proportionality large district magnitude, tend to have larger governments, larger deficits and a more procyclical response to the business cycle. We also find that more transparent and hierarchical budgetary procedures lead to lower deficits and debt. Contrary to the findings of Hallerberg and von Hagen for European countries, we find no evidence that centralized budgetary arrangements neutralize the potentially adverse impact on fiscal deficits of a larger degree of proportionality of the electoral system.
