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Article
Who chooses to adopt fiscal responsibility laws? Evidence from emerging market economies
Applied Economics Letters (2010)
  • John Thornton
Abstract
In recent years, at least 10 emerging market economies have sought to anchor their fiscal frameworks in fiscal responsibility laws. Key factors in the decision appear to include a prior improvement in fiscal discipline, particularly in the context of a federal fiscal system, substantial ethnic fractionalization and vulnerability to adverse shocks, such as real exchange rate volatility and inflation.
Keywords
  • Fiscal responsibility laws,
  • emerging markets,
  • probit estimation
Publication Date
2010
Citation Information
John Thornton. "Who chooses to adopt fiscal responsibility laws? Evidence from emerging market economies" Applied Economics Letters Vol. 17 Iss. 8 (2010)
Available at: http://works.bepress.com/john_thornton/19/