Electoral Systems and Fiscal Policy Outcomes: Evidence from Polish Municipalities

2014 ◽  
Author(s):  
Jaroslaw Kantorowicz
Keyword(s):  
Fiscal Policy ◽  
Electoral Systems ◽  
Policy Outcomes

scholarly journals BUDGETARY PROJECTION IN THE SYSTEM OF FINANCIAL AND ECONOMIC REGULATION OF SOCIAL PROCESSES

2020 ◽  
Vol 6 (1) ◽  
pp. 130
Author(s):  
Igor Chugunov ◽  
Valentina Makohon
Keyword(s):  
Time Series ◽  
Fiscal Policy ◽  
Dynamic Balance ◽  
Social Processes ◽  
System Stability ◽  
Policy Outcomes ◽  
Institutional Changes ◽  
Economic Regulation ◽  
Macroeconomic Stability

The purpose of the article is to reveal the role of budgetary projection in the system of financial and economic regulation of social processes within the framework of improving the efficiency of fiscal policy intended to macroeconomic stability maintenance in both countries with transformational and advanced economies. The comparative and factorial methods allowed to developthe features of the institutional environment of the budgetary progection methodology, to identify approaches for its improvement. Methodology. Substantiation of the role of budget forecasting in the system of financial and economic regulation of social processes, determination of provisions for improving its methodology is based on generalized and systematic approaches that are applied in both developed and transformational economies. An analysis of the stages of the process and the budgetary projection methods evaluation, that are used in different countries, have been carried out. Results showed that the efficient budgetary projection methodology is the basis for sound fiscal policy. The development of realistic budgetary projections facilitates justified management decisions aimed at ensuring the country financial firmness. Devia-tions from budget revenues from the projected indicators do not make it possible to achieve certain fiscal policy outcomes and, accordingly, cause a budget cut. In order to develop realistic budgetary projections, a welldesigned and coherent database is needed for all time series, necessary to analyze and project budget revenues. Time series of key determinants affecting the budget revenues level should be available at different frequencies (monthly, quarterly, annually). Where data reflecting similar economic processes by different revenue sources are available, any differences between them shall be determined by reference to their coverage and methodology. Practical implications. Budgetary projections are the basis for the formation of effective fiscal policy and the benchmark of the reproduction process. Adequate level of justification for budget projection will help to provide a dynamic balance of budgetary indicators and the budgetary system stability. Institutional changes to the budgetary projection methodology should be made on the basis of taking into account the dynamic interrelation of budgetary and macroeconomic indicators. The remarkable task here is the development of an economic and mathematical model based on the assessment of the national economy capabilities by reference to the assessment of macroeconomic proportions and the corresponding social and economic conditions of social production. Value/ originality. Developing the budgetary projection approaches in the context of improvement of the fiscal policy efficiency is an important precondition for ensuring macroeconomic stability. In order to increase the budget projection justifiability, it is advisable to make institutional changes to its methodology. Based on the methioned above, the article reveals the essence and role of the budgetary projection in the system of financial and economic regulation of social processes in the context of improving the fiscal policy effectiveness aimed at macroeconomic stability maintenance; approaches to improving the budgetary projection methodology have been identified, and it has been determined that the soundness and feasibility of budgetary projection are the basis for effective fiscal policy. The predictability of budgetary criteria, budgetary architectonics contribute to improving the efficiency of transformations in the public finance system.

Informal norms trump formal constraints: the evolution of fiscal policy institutions in the United States

2016 ◽  
Vol 13 (1) ◽  
pp. 211-242 ◽  
Author(s):  
PETER T. CALCAGNO ◽  
EDWARD J. LÓPEZ
Keyword(s):  
Fiscal Policy ◽  
The United States ◽  
Economic Security ◽  
Empirical Literature ◽  
Policy Outcomes ◽  
Institutional Evolution ◽  
Informal Rules ◽  
The Government ◽  
Elected Office ◽  
Formal Constraints

AbstractTwo shifts of informal rules occurred in the decades around the turn of the 20th century that continue to shape U.S. fiscal policy outcomes. Spending norms in the electorate shifted to expand the scope of the government budget to promote economic security and macroeconomic stability. Simultaneously, norms for elected office shifted to careerism. Both norms were later codified into formal rules as legislation creating entitlement programs, macroeconomic responsibility, and organizational changes to the fiscal policy process. This institutional evolution increased demand for federal expenditures while creating budgetary commons, thus imparting strong motivations to spend through deficit finance in normal times. Despite the last four decades of legislative attempts to constrain spending relative to taxes, the informal norms have trumped the formal constraints. While the empirical literature on deficits has examined the constraining effects of informal rules, this paper offers a novel treatment of shifting norms as having expansionary effects on deficits.

Modeling U.S. Budgetary and Fiscal Policy Outcomes: A Disaggregated, Systemwide Perspective

1993 ◽  
Vol 37 (1) ◽  
pp. 213 ◽  
Author(s):  
Tsai-Tsu Su ◽  
Mark S. Kamlet ◽  
David C. Mowery
Keyword(s):  
Fiscal Policy ◽  
Policy Outcomes

Electoral Systems and Policy Outcomes

2017 ◽  
Author(s):  
Stephanie J. Rickard
Keyword(s):  
Electoral Systems ◽  
Empirical Work ◽  
Electoral System ◽  
Policy Outcomes ◽  
Causal Mechanism ◽  
Electoral Institutions ◽  
Policy Effects ◽  
The Many ◽  
The Relationship ◽  
Cross National

Policies as diverse as tariffs, exchange rates, and unemployment insurance vary across democratic countries. In an attempt to explain this cross-national variation, scholars have turned to the institutions that govern countries’ elections. The institutions that regulate elections, also known as an electoral system, vary significantly across democracies. Can these varied electoral institutions explain the diversity of policies observed? This question remains unanswered. Despite a growing body of research, little consensus exists as to precisely how electoral institutions affect policy. Why is it so difficult to untangle the effects of electoral institutions on economic policy? One reason for the confusion may be the imprecise manner in which electoral institutions are often measured. Better measures of electoral systems may improve our understanding of their policy effects. Improved theories that clarify the causal mechanism(s) linking electoral systems to policy outcomes will also help to clarify the relationship between electoral systems and policies. To better understand the policy effects of electoral institutions, both theoretical and empirical work must take seriously contextual factors, such as geography, which likely mediate the effects of electoral institutions. Finally, different types of empirical evidence are needed to shed new light on the policy effects of electoral institutions. It is difficult to identify the effects of electoral systems in cross-national studies because of the many other factors that vary across countries. Examining within-country variations, such as changes in district magnitude, may provide useful new insights regarding the effects of electoral institutions on policy.

Group Capture and Political Sclerosis

2018 ◽  
Author(s):  
Mark I. Vail
Keyword(s):  
Labor Market ◽  
Fiscal Policy ◽  
Financial Regulation ◽  
The State ◽  
Economic Order ◽  
Policy Outcomes ◽  
Labor Market Policy ◽  
Market Policy ◽  
Vested Interests ◽  
Zero Sum

This chapter analyzes how Italian clientelist liberalism has shaped policy outcomes in fiscal policy, labor-market policy, and financial regulation since the early 1990s. Unlike France and Germany, where national liberal traditions were successfully synthesized with the postwar political-economic order, in Italy a weakly embedded liberalism became increasingly dominated and undermined by clientelistic imperatives. Like its German counterpart, Italian liberalism has traditionally viewed groups as the fundamental components of the social and economic order. Unlike those in Germany, however, these groups have acted and been seen as acting as impediments to adjustments rather than partners with the state. The result has been a zero-sum conception of political reform, a conflation of notions of the limits of state power with the vested interests of powerful groups, and a deep distrust of the state. In fiscal policy, labor-market policy, and financial regulation, these political dysfunctions have frustrated reforms and undermined effective adjustment.

Economic Adjustment through Group Subsidization

2018 ◽  
Author(s):  
Mark I. Vail
Keyword(s):  
Fiscal Policy ◽  
Financial Regulation ◽  
Policy Instruments ◽  
Policy Outcomes ◽  
Skilled Workers ◽  
Economic Adjustment ◽  
Reform Strategies ◽  
Supportive Role ◽  
Left And Right ◽  
Political Economic

This chapter analyzes how the German tradition of corporate liberalism has shaped policy outcomes in fiscal policy, labor-market policy, and financial regulation since the early 1990s. After German reunification and in the wake of the fiscal-policy strictures of the Maastricht Treaty, German authorities developed reform strategies designed to support economic growth, reduce unemployment, and modernize their financial systems. In so doing, they rejected neoliberal prescriptions in favor of policies that sheltered and subsidized core groups in their export-based growth model, in particular skilled workers and employers in export sectors, internationally competitive SMEs, and economically strategic financial institutions. In all three policy areas, reform trajectories of both Left and Right reflected corporate-liberal commitments to a supportive role for the state, the privileging of mesoeconomic policy instruments between macro and micro levels, and an emphasis on core groups as central political-economic constituencies, often at the expense of peripheral or unincorporated outsiders.

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