Fiscal Politics in Time: Pathways to Fiscal Consolidation, 1980-2012

Research output: Working paperDiscussion paper

76 Downloads (Pure)

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.
Original languageEnglish
Place of PublicationDublin
Number of pages46
Publication statusPublished - Dec 2012

Publication series

NameDiscussion Paper Series
PublisherUCD Geary Institute
No.WP2012/28

Keywords

  • fiscal politics
  • time
  • pathways
  • fiscal consolidation
  • 1980-2012

Fingerprint Dive into the research topics of 'Fiscal Politics in Time: Pathways to Fiscal Consolidation, 1980-2012'. Together they form a unique fingerprint.

Cite this