Fiscal Consolidation Used as a Way to Stabilise Public Budgets - A Perspective from the Level of Subnational Governments

Magdalena Zioło

Published : 2016-10-30

Vol. 70 No. 5 (2016)

Fiscal Consolidation Used as a Way to Stabilise Public Budgets - A Perspective from the Level of Subnational Governments

Magdalena Zioło

Abstract

This paper outlines the current data about the subnational government's fiscal position and points out the issue and role of fiscal consolidation in the process of deficit and debt reduction at a subnational government level. The theoretical framework of fiscal consolidation has been presented in detail. The policies and instruments of fiscal consolidation have also been mentioned within the paper. In addition, the fiscal consolidation instruments and rules have been discussed. The aim of the paper is to highlight and diagnose the importance of fiscal consolidation after the financial crisis of 2008, and to highlight the factors contributing to successful fiscal consolidation. This manuscript presents the issues for Organisation for Economic Co-operation and Development (OECD) countries during the years 2010-2016. The study uses methods such as the critical analysis of literature, observations, case studies, and logical reasoning.(original abstract)

Keywords:

Consolidation, Debt, Budget deficit, Local government budget, Fiscal policy

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Zioło, M. (2016). Fiscal Consolidation Used as a Way to Stabilise Public Budgets - A Perspective from the Level of Subnational Governments. Zeszyty Naukowe Wyższej Szkoły Bankowej W Poznaniu, 70(5). Retrieved from https://journals.wsb.poznan.pl/index.php/znwsb/article/view/884

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