Reforming the Stability and Growth Pact

Reforming the Stability and Growth Pact

eBook - 2005
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A rules-based fiscal framework, such as the EUs Stability and Growth Pact (SGP), can be an important bulwark against short-sighted policies. Although policies have improved following the SGPs adoption, shortcomings remain. These, however, are rooted in the policies rather than the rules, where few changes seem necessary. Specifically, the Excessive Deficit Procedure needs a stronger focus on policies rather than outcomes, while staying operationally simple and transparent. Furthermore, reforms are needed to foster time-consistent national policies, budgetary transparency, and ownership of the Pact. Accordingly, parliaments should debate national Stability Programs and national fiscal councils should review these programs for parliaments.
Publisher: [United States] :, International Monetary Fund :, 2005.
ISBN: 9781452719061
1452719063
Branch Call Number: eBook hoopla
Characteristics: 1 online resource
data file, rda
Alternative Title: hoopla (Digital media service)

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