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Why, in the last decades of the twentieth century, did industralized nations witness recurring vast public deficits, even in times of peaceful international relations and economic growth? The essays in Politics, Institutions, and Fiscal Policy chart answers sought by economists, political scientists, and government officials. This groundbreaking book looks at states within five industrialized federations—Canadian provinces, Swiss cantons, Belgian regions, German länder, and American states—as case studies of variation in budget balances since 1980. The work’s conclusion compares deficit levels between the federations studied. Politics, Institutions, and Fiscal Policy sheds new light on the role of such factors as spending and taxation levels and electoral and partisan cycles within the budget balancing process. Neatly written and theoretically grounded, this volume contributes greatly to our understanding of public finance and public administration.
Louis M. Imbeau is Professor of Political Science at Université Laval in Québec. François Pétry, also, is Professor of Political Science at Université Laval in Québec.
Chapter 1 The Political-Economy of Public DeficitsChapter 2 Intergovernmental Relationships and Fiscal Policymaking in Federal CountriesChapter 3 Understanding Surpluses and Deficits in the American States, 1961-1997Chapter 4 The Political-Economy of Budget Deficits in the Canadian Provinces, 1968-2000Chapter 5 Political and Electoral Cycles, Government Popularity, and Budget Deficits in Canadian ProvincesChapter 6 Towards a Model for Predicting Deficit and Surplus in the Swiss CantonsChapter 7 Public Deficits in Belgian Regions and Communities: A Tentative ComparisonChapter 8 Public Deficits and Political Budget Cycles: The Case of Western German LänderChapter 9 Deficits and Surpluses in Federated States: A Pooled Analysis
Yielding great insight into the institutional and political context of intergovernmental fiscal policy-making in federations, this volume is compelling reading for anyone interested in the political economy of fiscal decision-making.