The dimensions of fiscal governance as the cornerstone of public finance sustainability: A general framework
Journal of Public Budgeting, Accounting & Financial Management
ISSN: 1096-3367
Article publication date: 1 March 2014
Abstract
Recently many European countries have incurred crises in public finance despite the fact that EU institutions have pushed the national governments toward the sustainability of public finance with compulsory and voluntary rules regarding fiscal governance. This paper investigates the relations between the quality of fiscal governance and the financial virtuosity of national fiscal policy. We proposed a general framework for analyzing the fiscal governance issue and we empirically tested the correlation between the dimensions of fiscal governance and the budgetary performance of EU countries. The results showed a positive correlation between the quality of fiscal governance in the EU countries and financial surplus in the period concerned. However further investigations are needed and an effort should be made to collect uniform data on fiscal governance in the European Union.
Citation
Giosi, A., Testarmata, S., Brunelli, S. and Staglianò, B. (2014), "The dimensions of fiscal governance as the cornerstone of public finance sustainability: A general framework", Journal of Public Budgeting, Accounting & Financial Management, Vol. 26 No. 1, pp. 94-139. https://doi.org/10.1108/JPBAFM-26-01-2014-B005
Publisher
:Emerald Publishing Limited
Copyright © 2014 by PrAcademics Press