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Budget Deficits and Budget Institutions
Author:
Mr. Alberto Alesina null

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Mr. Roberto Perotti null

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Series:
IMF Working Papers
Volume/Issue:
Volume 1996: Issue 052
Language:
English
Publication Date:
01 May 1996
DOI:
https://doi.org/10.5089/9781451847208.001
ISBN:
9781451847208
ISSN:
1018-5941
Pages:
36
Keywords:
WP; budget procedure; budget institution; GNP ratio; government negotiations; line item; spending minister; government fragmentation; government proposal; government fragility; power of the executive; pork barrel; government preparation; Budget planning and preparation; Government debt management; Fiscal consolidation; Fiscal law
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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By discussing the available theoretical and empirical literature, this paper argues that budget procedures and budget institutions do influence budget outcomes. Budget institutions include both procedural rules and balanced budget laws. We critically assess theoretical contributions in this area and suggest several open and unresolved issue. We also examine the empirical evidence drawn from studies on samples of OECD countries, Latin American countries and the United States. We conclude with a discussion of the normative implications of this literature and with some concrete proposals.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund