| Description |
1 online resource (iii, 34 pages) : illustrations |
| Series |
IMF working paper ; WP/96/78 |
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IMF working paper ; WP/96/78.
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| Summary |
Annotation This paper develops a political-economy model of the budget process focusing on the common pool problem of the public budget. We show that the externality arising from the fact that public spending tends to be targeted at individual groups in society while the tax burden is widely dispersed creates a bias towards excessive expenditures and debt. This bias can be reduced by introducing elements of centralization in the budget process, that is, institutional structures that strengthen a comprehensive view of the budget over the particularistic view of the spending ministers and the members of parliament. Using examples from EC countries, we show how budget processes lack or possess such elements. We then present empirical evidence supporting the claim that centralizing elements reduce the deficit bias. the last section concludes with models for reform of the budget process |
| Bibliography |
Includes bibliographical references (pages 33-34) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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English |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
| Subject |
Budget.
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Expenditures, Public.
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Debts, Public.
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Budget -- European Economic Community countries -- Econometric models
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budgets.
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Budget.
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Budget -- Econometric models.
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Debts, Public.
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Expenditures, Public.
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BUDGET PERFORMANCE.
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BUDGETARY POLICY.
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GOVERNMENT SPENDING POLICY.
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European Economic Community countries.
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| Form |
Electronic book
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| Author |
Harden, Ian, author.
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International Monetary Fund. Fiscal Affairs Department, issuing body.
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| ISBN |
145528470X |
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9781455284702 |
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1462376215 |
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9781462376216 |
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1455295914 |
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9781455295913 |
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1281600601 |
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9781281600608 |
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9786613781291 |
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6613781290 |
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