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001-es BibID:	BIBFORM004390
Első szerző:	Győrffy Dóra (közgazdász)
Cím:	Political trust and the success of fiscal consolidations : lessons from Sweden and Hungary / Dóra Győrffy
Dátum:	2008
ISSN:	1610-7780
Megjegyzések:	In spite of early expectations the liberalization of capital markets did not induce a worldwide improvement in fiscal balances. Interpreting fiscal adjustment as a form of social dilemma, the paper addresses this puzzle through considering the consequences of political trust on the success of consolidations. Based on a comparative analysis of Swedish and Hungarian fiscal reforms during the mid-1990s it is shown that the level of trust strongly affects both the method of implementation and the composition of the stabilization package, which in turn determine the long-term sustainability of the adjustment. Evidence from the Economic and Monetary Union indicates the potential for generalizing these findings and support the claim that lasting fiscal consolidations can be expected only in a high-trust environment. In a low-trust regime even if external pressures trigger adjustment, the incentive to buy support through short-term promises ultimately erodes the commitment to restraint and imbalances reemerge. 1 The paper is based upon my doctoral dissertation defended at Central European University in 2006. I am indebted to my supervisor László Csaba for his constant support and encouragement during the research process. I am also grateful for helpful comments on this paper to Péter Gedeon and László Muraközy. An earlier version of this work was published as Tiger Working Paper No. 101. entitled "Political Trust and the Success of Fiscal Consolidations."
Tárgyszavak:	Társadalomtudományok Közgazdaságtudományok idegen nyelvű folyóiratközlemény külföldi lapban comparative analysis Sweden Hungary fiscal reforms
Megjelenés:	Zeitschrift für Staats-und Europawissenschaften. - 6 : 1 (2008), p. 75-100. -
Internet cím:	elektronikus változat
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