JOURNAL ARTICLE
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Budget Processes and Commitment to Fiscal Discipline
von Hagen, Jürgen | Harden, Ian J.
Credit and Capital Markets – Kredit und Kapital, Vol. 52 (2019), Iss. 4 : pp. 527–536
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Prof. Dr. Jürgen von Hagen, University of Bonn, Institute for International Economic Policy, Lennèstraße 37, D-53113 Bonn
Prof. Dr. Ian J. Harden, University of Sheffield, School of Law, Western Bank, Sheffield S10 2TN, UK
References
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von Hagen, J. and Harden, I. J. (1994): National Budget Processes and Fiscal Performance, European Economy, forthcoming.
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Banks, J. S. (1991): Signaling Games in Political Science (Harwood Academic Publishers, Chur).
Google Scholar -
Baron, D. P. (1991): Majoritarian Incentives, Pork Barrel Programs and Procedural Control. American Journal of Political Science 35, pp. 57–90.
Google Scholar -
Myerson, R. B.: Negotiation in Games: A Theoretical Overview, Mimeo.
Google Scholar -
Olson, M. (1965): The Logic of Collective Action (Harvard University Press, Cambridge, MA).
Google Scholar -
von Hagen, J. (1992): Budgeting Procedures and Fiscal Performance in the EC, Economic Papers 96 (European Commissions, Brussels).
Google Scholar -
von Hagen, J. and Harden, I. J. (1994): National Budget Processes and Fiscal Performance, European Economy, forthcoming.
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Wildavsky, A. (1975): Budgeting (Transaction Publishers, Oxford).
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Abstract
We present a framework of investigation into the political economy of the budget process. Our model suggests that institutional rules governing the budget process can be found to limit the importance of fiscal illusion. Empirical evidence supports that proposition. The choice of rules depends on the political environment as well as the dominant source of uncertainty in the budget process.