{"id":113832,"date":"2024-01-22T18:41:37","date_gmt":"2024-01-22T17:41:37","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/113832\/"},"modified":"2024-11-07T04:16:49","modified_gmt":"2024-11-07T03:16:49","slug":"fiscal-governance-and-government-investment-in-europe-since-the-1990s","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/113832\/","title":{"rendered":"Fiscal Governance and Government Investment in Europe since the 1990s"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-113832","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Stringent fiscal rules and budgetary procedures might generate incentives for political decision-makers to cut predominantly productive public investment during periods of fiscal consolidation. While the influence of the European Stability and Growth Pact on public investment received a lot of attention in the empirical literature, only a few studies consider the impact of different budgetary decision-making rules and procedures at the national level on government investment spending. We test empirically for the effect of political factors and the institutional framework of budgeting on public investment in EU 15 over the period 1990-2005. Our results show that stringent quantitative constraints limit government investment, but a centralisation of budgeting procedures by providing more agenda setting powers to the finance minister (delegation approach) or by the use of medium-term fiscal contracts are not related to public investment spending cuts.","onlinedate":"2010-04-22 02:00:00","lang":"English","publication_series":"","publication_date":"20100401","publication_date_year":"","publication_date_full":false,"publication_num_pages":"28","keywords":"[\"fiscal consolidation fiscal policy\"]","jelcodes":"[]","related_publications":"[]","pdf":337090,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"370","journal":"WIFO Working Papers","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44410],"research_groups":[3500],"collaboration":"","persons":[3792],"persons_data":"[{\"personId\":3792,\"personName\":\"Hans Pitlik\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Pitlik, H.<\\\/span> (2010). <span>Fiscal Governance and Government Investment in Europe since the 1990s<\\\/span>. <span><em>WIFO Working Papers<\\\/em><\\\/span>, (370). <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/39181\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/39181<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Pitlik H<\\\/span>. <span class=\\\"title\\\"><span>Fiscal Governance and Government Investment in Europe since the 1990s<\\\/span><\\\/span>. <span>WIFO Working Papers<\\\/span>. 2010 Apr;(370).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{c009acf8f9934b0998844bede0720621,<\\\/div><div>  title    = \\\"Fiscal Governance and Government Investment in Europe since the 1990s\\\",<\\\/div><div>  abstract = \\\"Stringent fiscal rules and budgetary procedures might generate incentives for political decision-makers to cut predominantly productive public investment during periods of fiscal consolidation. While the influence of the European Stability and Growth Pact on public investment received a lot of attention in the empirical literature, only a few studies consider the impact of different budgetary decision-making rules and procedures at the national level on government investment spending. We test empirically for the effect of political factors and the institutional framework of budgeting on public investment in EU 15 over the period 1990-2005. Our results show that stringent quantitative constraints limit government investment, but a centralisation of budgeting procedures by providing more agenda setting powers to the finance minister (delegation approach) or by the use of medium-term fiscal contracts are not related to public investment spending cuts.\\\",<\\\/div><div>  keywords = \\\"fiscal consolidation fiscal policy, fiscal consolidation fiscal policy\\\",<\\\/div><div>  author   = \\\"Hans Pitlik\\\",<\\\/div><div>  year     = \\\"2010\\\",<\\\/div><div>  month    = apr,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  journal  = \\\"WIFO Working Papers\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Fiscal Governance and Government Investment in Europe since the 1990s<\\\/p><p>AU  - Pitlik, Hans<\\\/p><p>PY  - 2010\\\/4<\\\/p><p>Y1  - 2010\\\/4<\\\/p><p>N2  - Stringent fiscal rules and budgetary procedures might generate incentives for political decision-makers to cut predominantly productive public investment during periods of fiscal consolidation. While the influence of the European Stability and Growth Pact on public investment received a lot of attention in the empirical literature, only a few studies consider the impact of different budgetary decision-making rules and procedures at the national level on government investment spending. We test empirically for the effect of political factors and the institutional framework of budgeting on public investment in EU 15 over the period 1990-2005. Our results show that stringent quantitative constraints limit government investment, but a centralisation of budgeting procedures by providing more agenda setting powers to the finance minister (delegation approach) or by the use of medium-term fiscal contracts are not related to public investment spending cuts.<\\\/p><p>AB  - Stringent fiscal rules and budgetary procedures might generate incentives for political decision-makers to cut predominantly productive public investment during periods of fiscal consolidation. While the influence of the European Stability and Growth Pact on public investment received a lot of attention in the empirical literature, only a few studies consider the impact of different budgetary decision-making rules and procedures at the national level on government investment spending. We test empirically for the effect of political factors and the institutional framework of budgeting on public investment in EU 15 over the period 1990-2005. Our results show that stringent quantitative constraints limit government investment, but a centralisation of budgeting procedures by providing more agenda setting powers to the finance minister (delegation approach) or by the use of medium-term fiscal contracts are not related to public investment spending cuts.<\\\/p><p>KW  - fiscal consolidation fiscal policy<\\\/p><p>KW  - fiscal consolidation fiscal policy<\\\/p><p>M3  - WIFO series<\\\/p><p>JO  - WIFO Working Papers<\\\/p><p>JF  - WIFO Working Papers<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.3 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fiscal Governance and Government Investment in Europe since the 1990s - 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