Fiscal Politics in Time

Pathways to Fiscal Consolidation, 1980-2012

Research output: Working paperDiscussion paper

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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

Fingerprint

consolidation
Greece
Ireland
politics
representation of interests
national economy
causality
financial crisis
indebtedness
political economy
revenue
expenditures
Spain
time
Fiscal
Fiscal consolidation
Pathway
literature
Intermediation
Debt

Keywords

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

Cite this

Dellepiane Avellaneda, S., & Hardiman, N. (2012). Fiscal Politics in Time: Pathways to Fiscal Consolidation, 1980-2012. (Discussion Paper Series; No. WP2012/28). Dublin.
Dellepiane Avellaneda, Sebastian ; Hardiman, Niamh. / Fiscal Politics in Time : Pathways to Fiscal Consolidation, 1980-2012. Dublin, 2012. (Discussion Paper Series; WP2012/28).
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Dellepiane Avellaneda, S & Hardiman, N 2012 'Fiscal Politics in Time: Pathways to Fiscal Consolidation, 1980-2012' Discussion Paper Series, no. WP2012/28, Dublin.

Fiscal Politics in Time : Pathways to Fiscal Consolidation, 1980-2012. / Dellepiane Avellaneda, Sebastian; Hardiman, Niamh.

Dublin, 2012. (Discussion Paper Series; No. WP2012/28).

Research output: Working paperDiscussion paper

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AB - 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.

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Dellepiane Avellaneda S, Hardiman N. Fiscal Politics in Time: Pathways to Fiscal Consolidation, 1980-2012. Dublin. 2012 Dec. (Discussion Paper Series; WP2012/28).