Fiscal politics in time: pathways to fiscal consolidation, 1980-2012

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Title: Fiscal politics in time: pathways to fiscal consolidation, 1980-2012
Authors: Dellepiane, Sebastian
Hardiman, Niamh
Permanent link: http://hdl.handle.net/10197/4229
Date: Dec-2012
Abstract: The comparative study of debt and fiscal consolidation has acquired a new focus in the wake of the global financial crisis. This leads us to re-evaluate the literature on fiscal consolidation that flourished during the 1980s and 1990s. The conventional approach segments episodes of fiscal change into discrete observations. We argue that this misses the dynamic features of government strategy, especially in the choices made between expenditure-based and revenue-based fiscal consolidation strategies. We propose a focus on pathways rather than episodes of adjustment, to recapture what Pierson terms 'politics in time'. A case-study approach facilitates analysis of complex causality that includes the structures of interest intermediation, the role of ideas in shaping the set of feasible policy choices, and the situation of national economies in the international political economy. We support our argument with qualitative data based on two case studies, Ireland and Greece, and with additional paired comparisons of Ireland with Britain, and Greece with Spain.
Type of material: Working Paper
Publisher: University College Dublin. Geary Institute
Keywords: Fiscal consolidationEconomic policy
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Geary Institute Working Papers
Politics and International Relations Research Collection

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