English, Article edition: Checks and Balances on Political Budget Cycles: Cross-Country Evidence Jorge M. Streb; Daniel Lema; Gustavo Torrens

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Bookmark: http://trove.nla.gov.au/version/156204
Physical Description
  • article
Language
  • English

Edition details

Title
  • Checks and Balances on Political Budget Cycles: Cross-Country Evidence
Author
  • Jorge M. Streb
  • Daniel Lema
  • Gustavo Torrens
Physical Description
  • article
Notes
  • Previous empirical work on political budget cycles (PBCs) implicitly assumes the executive has full discretion over fiscal policy. Instead, we ask what happens when legislative checks and balances limit executive discretion. We find that legislative checks and balances moderate PBCs in countries with high compliance with the law. More effective checks and balances help to explain why cycles are weaker in developed countries and in established democracies. When the discretional component of executive power is isolated, there are significant cycles in all democracies. Copyright © 2009 Blackwell Publishing Ltd.
  • RePEc:bla:kyklos:v:62:y:2009:i:3:p:426-447
Language
  • English
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