Current Issue
Volume
27
year
2021
Issue
3

Archive

AUTHOR'S GUIDELINES

ABSTRACT GUIDELINES

SUBMIT AN ARTICLE

SCIENTFIC AND RESEARCH PROFILE

PUBLICATION ETHICS

PEER REVIEW POLICY

ABSTRACTING AND INDEXING

EDITORIAL BOARD

INTERNATIONAL EDITORIAL BOARD


ADDRESS OF THE EDITORIAL OFFICE

ISSN (print): 1312-7462
ISSN (online): 2367-9409
4 issues per year


The conceptions of the authors express their personal opinion and do not engage the editors of the journal.

The Editorial Board is committed to open science and free access to scientific publications.

Every manuscript received will be checked for plagiarism.

Typeset by:

UNWE Publishing Complex

Printed by:

UNWE Publishing Complex

Understanding Public Debt from a Political Economy Perspective Economic Alternatives
year
2017
Issue
3

Understanding Public Debt from a Political Economy Perspective

Abstract

This paper surveys the recent political economy literature on fiscal policy with a focus on public debt. We provide theoretical discussions on the political and institutional factors shaping fiscal policy. The literature suggests that the opportunistic and ideological behavior of politicians, the conflicts of interest among political parties, and the distribution of debt burden across governments and generations may all lead to excessive public debt. However, many studies emphasize the role of budgetary institutions in promoting fiscal discipline. More specifically, adopting fiscal rules, improving fiscal transparency, centralizing the budget process, and creating an independent fiscal authority are considered as institutional solutions to address excessive deficits and debts.

Keywords

political economy, fiscal policy, Public debt
Download 4_Alternativi_english_br_3_2017.pdf