Record Details

Fiscal Responsibility Laws in EU Member States and Their Influence on the Stability of Public Finance

International Journal of Business and Information

View Archive Info
 
 
Field Value
 
Title Fiscal Responsibility Laws in EU Member States and Their Influence on the Stability of Public Finance
 
Creator Dziemianowicz, Ryta Iwona
Kargol-Wasiluk, Aneta
 
Description This paper assesses the effectiveness of fiscal responsibility laws (FRL) in stabilizing public finance in the member states of the European Union (EU).1 The coordination mechanism of EU fiscal policy is the use and application of established rules for conducting responsible fiscal policy using appropriate instruments of FRL to maintain fiscal discipline, foster economic and macroeconomic growth, and ensure the stability of public finance. The implementation of FRL requires the application of instruments such as budget procedures, numerical fiscal rules, and the existence of independent fiscal institutions. Such instruments differ among the EU member states in terms of institutional models, tasks and competences, quality, and effectiveness. The paper discusses the theoretical implications of FRL and fiscal governance; examines the coordination mechanism of fiscal policy in the EU; assesses the effectiveness of European and national FRL; and concludes that FRL in the EU is diversified because of differences in the instruments used.
 
Publisher International Business Academics Consortium
 
Date 2015-11-14
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://ijbi.org/ijbi/article/view/109
 
Source International Journal of Business and Information; Vol 10 No 2 (2015)
2520-0151
1728-8673
 
Language eng
 
Relation https://ijbi.org/ijbi/article/view/109/117
 
Rights Copyright (c) 2015 International Journal of Business and Information