Download or read book Making Sense of the European Commission s Fiscal Governance Reform Plan written by Lucio R. Pench and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Commission's April 2023 proposals for the reform of European Union fiscal governance revolve around the principles of fiscal sustainability and national ownership. While the criterion of sustainability is at the centre of the proposals, its practical implications for the assessment of compliance of national medium-term fiscal-structural plans with the new fiscal rules have been blurred by a proliferation of additional criteria or safeguards. These include a requirement for a country's debt level at the end of the medium-term horizon to be lower than at the beginning. This Policy Brief argues that the fiscal sustainability criterion, which the legislative proposals formulate in broad qualitative terms (public debt being on "a plausibly downward path ... or ... staying at prudent levels") can be operationalised to ensure the objective of de-risking of public debt, ie the eventual removal of situations in which debt poses a high sustainability risk. Specifically, for a plan to satisfy the sustainability criterion, it should ensure that the country in question graduates out of the high-risk category or does not fall into it. It is further argued that the additional criteria or safeguards have limited value added and hamper the overall readability of the proposed reform. This proliferation of criteria should not be taken as compromising the fundamentals of the reform, however: a careful textual and contextual reading of the relevant legal provisions allows for an 'overall assessment' by the Commission and the Council of the medium-term plans submitted by EU countries, in which compliance with the additional safeguards could be given a subordinated role relative to the sustainability criterion. Ideally, a clarification of the methodology for assessing compliance with the debt-sustainability criterion would allow the additional safeguards to be dispensed with. Political concerns lay behind the demand for additional safeguards, but these should be addressed through institutional rather than rule-based solutions. Implementation and enforcement will be critical. This Policy Brief offers proposals to enhance institutional self-commitment to implementation, with reputational consequences for non-implementation.
Download or read book Public Financial Management and Its Emerging Architecture written by Mr. M. Cangiano and published by International Monetary Fund. This book was released on 2013-04-05 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms. Watch Video of Book Launch
Download or read book Europe in 12 Lessons written by Pascal Fontaine and published by . This book was released on 2017 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Making Sense of European Union Law written by Monica Claes and published by Bloomsbury Publishing. This book was released on 2023-01-12 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reflects on selected issues of European law in dialogue with leading legal scholar Bruno De Witte, whose work has enlightened generations of students, scholars and practitioners of European law. The volume is designed to mark the impressive academic oeuvre of a great legal mind and true academic whose elegant and insightful writings have decisively contributed to the advancement of the study of European law. The contributions attempt to 'make sense of European Union law' reflecting Bruno's mission as a legal scholar and commenting on some of the themes that he has worked on: constitutional Europe, differentiated Europe, social and educational Europe and minorities Europe. It culminates in reflections on the very nature of Bruno's scholarship and his academic persona. Not only is this book a public recognition and an expression of appreciation for all that Bruno has offered to the European legal community but also an invitation to challenge the way many scholars think of academic careers and their ways to success.
Download or read book Fiscal Policy in the European Union written by J. Ferreiro and published by Springer. This book was released on 2008-11-27 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive analysis of national fiscal policies in the European Union and in the European Monetary Union. Adopting a critical perspective, the book offers a deep insight into the consequences of the current strategy of national fiscal policies on economic activity.
Download or read book A Good Tax written by Joan Youngman and published by . This book was released on 2016 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: In A Good Tax, tax expert Joan Youngman skillfully considers how to improve the operation of the property tax and supply the information that is often missing in public debate. She analyzes the legal, administrative, and political challenges to the property tax in the United States and offers recommendations for its improvement. The book is accessibly written for policy analysts and public officials who are dealing with specific property tax issues and for those concerned with property tax issues in general.
Download or read book Harmful Tax Competition An Emerging Global Issue written by OECD and published by OECD Publishing. This book was released on 1998-05-19 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax competition in the form of harmful tax practices can distort trade and investment patterns, erode national tax bases and shift part of the tax burden onto less mobile tax bases. The Report emphasises that governments must intensify their cooperative actions to curb harmful tax practices.
Download or read book Andorra and the European Union written by Michael Emerson and published by CEPS. This book was released on 2007 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Managing Public Expenditure A Reference Book for Transition Countries written by OECD and published by OECD Publishing. This book was released on 2001-03-20 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing Public Expenditure presents a comprehensive and in-depth analysis of all aspects of public expenditure management from the preparation of the budget to the execution, control and audit stages.
Download or read book The Second Economic Adjustment Programme for Greece written by and published by . This book was released on 2012 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1. Introduction - 2. Macroeconomic and financial developments - 3. Programme implementation - 4. Debt sustainability analysis and programme financing.
Download or read book Experimentalist Governance in the European Union written by Charles F. Sabel and published by Oxford University Press on Demand. This book was released on 2010-02-25 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together a distinguished interdisciplinary group of European and American scholars to analyze the core theoretical features of the EU's new experimentalist governance architecture and explore its empirical development across a series of key policy domains.
Download or read book Walking the Highwire written by Olli Rehn and published by Springer Nature. This book was released on 2020-02-23 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: Walking the Highwire tells the story of the Eurozone Crisis from the perspective of the former Vice-President of the European Commission who was responsible for Economic and Monetary Affairs in 2010-2014. It is a comprehensive European account that covers both events and decisions in Brussels and Frankfurt and in the member states, both in distressed countries and creditor states. It also provides an economic-political analysis of the crisis and its management, recognising that the Euro was created politically, and saved politically. Thoroughly researched and based on economic analysis of the time, reports on various meetings and the author's own speaking notes and diary, this book begins with a narrative of crisis management 2009-2012, before moving on to address the beginning of the recovery from 2013-2014. It concludes with the lessons learnt from the crisis and a programme for reform of the Eurozone in the 2020s, with contemporary policy relevance. This is an entertaining and engaging account which will be of interest to a wide audience: scholars and students, practitioners and commentators of the Eurozone.
Download or read book PEFA Public Financial Management and Good Governance written by Jens Kromann Kristensen and published by World Bank Publications. This book was released on 2019-11-24 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This project, based on the Public Expenditure and Financial Accountability (PEFA) data set, researched how PEFA can be used to shape policy development in public financial management (PFM) and other major relevant policy areas such as anticorruption, revenue mobilization, political economy analysis, and fragile states. The report explores what shapes the PFM system in low- and middle-income countries by examining the relationship between political institutions and the quality of the PFM system. Although the report finds some evidence that multiple political parties in control of the legislature is associated with better PFM performance, the report finds the need to further refine and test the theories on the relationship between political institutions and PFM. The report addresses the question of the outcomes of PFM systems, distinguishing between fragile and nonfragile states. It finds that better PFM performance is associated with more reliable budgets in terms of expenditure composition in fragile states, but not aggregate budget credibility. Moreover, in contrast to existing studies, it finds no evidence that PFM quality matters for deficit and debt ratios, irrespective of whether a country is fragile or not. The report also explores the relationship between perceptions of corruption and PFM performance. It finds strong evidence of a relationship between better PFM performance and improvements in perceptions of corruption. It also finds that PFM reforms associated with better controls have a stronger relationship with improvements in perceptions of corruption compared to PFM reforms associated with more transparency. The last chapter looks at the relationship between PEFA indicators for revenue administration and domestic resource mobilization. It focuses on the credible use of penalties for noncompliance as a proxy for the type of political commitment required to improve tax performance. The analysis shows that countries that credibly enforce penalties for noncompliance collect more taxes on average.
Download or read book Services Trade Reform Making Sense Of It written by Philippa Dee and published by World Scientific. This book was released on 2013-09-13 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the Doha Round of multilateral trade negotiations moribund, it is time to reconsider the future of trade negotiations as an impetus for reform. Services trade is a leading-edge behind-the-border issue, so a services perspective offers critical insights into the future of trade negotiations more generally. This book traces the author's thinking on how to make sense of services trade reform, drawing on her analytical, empirical and policy-related work on services issues from both academic and government perspectives. It covers policy reform, policy forums, and what it takes politically to achieve reform, and offers critical new insights into the future of trade negotiations.The book shows policy makers how to approach the economics and politics of services trade reform domestically, consistent with relevant special features of services trade. It shows analysts the full policy implications of those special features, including what they mean and how services reform should be treated in the future in national and international forums. In covering such broad territory, the book draws together published material that previously has been scattered across place and time, including modelling that establishes empirically the special features of services that are relevant.
Download or read book Guidelines for Public Expenditure Management written by Mr.Jack Diamond and published by International Monetary Fund. This book was released on 1999-07-01 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economics training in public finances has focused more on tax than public expenditure issues, and within expenditure, more on policy considerations than the more mundane matters of public expenditure management. For many years, the IMF's Public Expenditure Management Division has answered specific questions raised by fiscal economists on such missions. Based on this experience, these guidelines arose from the need to provide a general overview of the principles and practices observed in three key aspects of public expenditure management: budget preparation, budget execution, and cash planning. For each aspect of public expenditure management, the guidelines identify separately the differing practices in four groups of countries - the francophone systems, the Commonwealth systems, Latin America, and those in the transition economies. Edited by Barry H. Potter and Jack Diamond, this publication is intended for a general fiscal, or a general budget, advisor interested in the macroeconomic dimension of public expenditure management.
Download or read book Fiscal Politics in the Euro Area written by Luc Eyraud and published by International Monetary Fund. This book was released on 2017-01-30 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides evidence of fiscal procyclicality, excessive deficits, distorted budget composition and poor compliance with fiscal rules in the euro area. Our analysis relies on real-time data for 19 countries participating in the euro area over 1999–2015. We look for, but do not find, conclusive evidence of bias in procedures in relation to country size. The paper also briefly reviews the literature on political economy factors and policy biases, and offers some reflections on the euro area architecture.
Download or read book Financial Crisis Management and Democracy written by Bettina De Souza Guilherme and published by Springer Nature. This book was released on 2020-12-09 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP). Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.
