Resource title

Does globalization restrict budgetary autonomy? A multidimensional approach

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Resource description

Does globalization restrict the leeway for national budgetary policy? With the help of cluster and discriminant analysis this study provides evidence on the basis of the experience of OECD countries since the 1970s. Four budgetary dimensions are included in the analysis: tax structure, expenditure structure, public debt and budget size. Globalization as a potential driving force for changes in government finance is identified in form of variables on the existence of capital and current account restrictions, on the exposure to international trade and the exchange rate regime. The results suggest that globalization does indeed matter for government budgets. However, substantial room for an individual national policy particularly in regard to expenditure structure and public debt is left.

Resource author

Friedrich Heinemann

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Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/24313

Resource license

Adapt according to the presented license agreement and reference the original author.