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Do Fiscal Rules Cause Fiscal Discipline Over the Electoral Cycle?
This paper estimates the causal effect of fiscal rules on political budget cycles in a sample of 67 developing countries over the period 1985–2007. We exploit the geographical pattern in the adoption of fiscal rules to isolate an exogenous source of variation in the adoption of national fiscal rules. Based on a diffusion argument, we use the number of other countries in a given subregion that have fiscal rules in place to predict the probability of having them at the country level. We find that in election years with fiscal rules in place, public consumption is reduced by 1.6 percentage point of GDP as compared to election years without these rules. This impact is equivalent to a reduction by a third of the volatility of public consumption in our sample. Furthermore, the effectiveness of these rules depends on their type, their institutional design, whether they have been in place for a long time and finally on the degree of competitiveness of elections.
Fiscal Federalism in Canada
Featuring insights from some of the top specialists in the country, Fiscal Federalism in Canada unpacks numerous complexities of fiscal federalism in Canada. The book features key regional and provincial perspectives, while taking into account Indigenous realities, the three territories, and municipal affairs. The contributing authors go beyond the major federal transfers to examine the financing of education, cities, infrastructure, and housing. This volume shows that fiscal federalism is much more than simply an aggregate of individual programs and transfers. It highlights the role of actors other than the federal and provincial governments and recalls the importance of territoriality. The...
Assessing Justin Trudeau’s Liberal Government
Twenty renowned academics investigate the fate of the 353 liberal campaign promises. Foreword by Thomas Mulcair.
Do Fiscal Rules Cause Fiscal Discipline Over the Electoral Cycle?
This paper estimates the causal effect of fiscal rules on political budget cycles in a sample of 67 developing countries over the period 1985–2007. We exploit the geographical pattern in the adoption of fiscal rules to isolate an exogenous source of variation in the adoption of national fiscal rules. Based on a diffusion argument, we use the number of other countries in a given subregion that have fiscal rules in place to predict the probability of having them at the country level. We find that in election years with fiscal rules in place, public consumption is reduced by 1.6 percentage point of GDP as compared to election years without these rules. This impact is equivalent to a reduction by a third of the volatility of public consumption in our sample. Furthermore, the effectiveness of these rules depends on their type, their institutional design, whether they have been in place for a long time and finally on the degree of competitiveness of elections.
Becoming 150
Becoming 150: 150 Years of Canadian Business History presents informative insight into the development of Canada's economy and business sectors since Confederation. 150 Years of Canadian Business History was a national conference presented in conjunction with Canada's Sesquicentennial. This book is a must read for business people, students and entrepreneurs, and is composed of 18 essays written by business people, academics and recent graduate students outlining the history of Canadian businesses in 8 different topics. Subjects covered include the financial sector, women in Canadian business history, industrial and manufacturing, rural business history, and more.
Comparing Quebec and Ontario
In Comparing Quebec and Ontario, Rodney Haddow analyses how budgeting, economic development, social assistance, and child care policies differ between the two provinces. The cause of the differences, he argues, are underlying differences between their political economic institutions.
Intergovernmental Transfers in Federations
Intergovernmental Transfers in Federations presents a synthesis of international experience of large federations in the most recent times in addressing the most fundamental issue of horizontal and vertical imbalances in their countries through the prism of intergovernmental transfers. Contributors delve into the various aspects of policy making as well as policy choices in selecting an efficiency path for a meaningful fiscal devolution aimed at integrating performance and incentives to reach an expenditure mix that facilitates better service delivery.
The Economics of Language Policy
Insights from the application of economic theories and research methods to the management of linguistic diversity in an era of globalization. In an era of globalization, issues of language diversity have economic and political implications. Transnational labor mobility, trade, social inclusion of migrants, democracy in multilingual countries, and companies' international competitiveness all have a linguistic dimension; yet economists in general do not include language as a variable in their research. This volume demonstrates that the application of rigorous economic theories and research methods to issues of language policy yields valuable insights. The contributors offer both theoretical an...
Le Québec économique 7 : Éducation et capital humain
« Près du quart des dépenses du gouvernement du Québec sont allouées au secteur de l'éducation. Pour une société, l'éducation agit tant comme un moteur de croissance économique que comme un puissant outil de lutte contre la pauvreté. L'investissement en éducation permet l'accumulation du capital humain, facteur déterminant du développement individuel. Cette septième édition du Québec économique fait le point sur les enjeux contemporains du système d'éducation québécois. Pour bien positionner l'analyse, des portraits du réseau primaire et secondaire puis de l'enseignement supérieur sont d'abord présentés. Une série d'enjeux économiques sont ensuite étudiés de manière détaillée. Sont notamment abordés par des chercheurs reconnus dans leur domaine : le financement de l'enseignement supérieur, la performance du réseau de l'éducation ainsi que les rendements privés et sociaux de l'éducation. »
