Socio-economic development and fiscal policy: lessons from the cohesion countries for the new member states

Arbeitspapier

This paper examines the link between socio-economic development and fiscal policy. We introduce an indicator for socio-economic development (SEDI) and investigate its relationship with different fiscal variables, using data for the cohesion countries, namely Greece, Portugal, Spain and Ireland for 1980-1999. We find that an improvement in the net lending position of the government, as well as a fall in the level of public debt, would be beneficial for socio-economic development in the medium term. Furthermore, fiscal consolidation is found to be more relevant for promoting socio-economic development in the cohesion countries than in the other EU-15 Member States. Our results provide support for incentives to curb spending, such as the fiscal criteria of the Maastricht Treaty or the Stability and Growth Pact.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: ECB Working Paper ; No. 467

Klassifikation und Themen

• Klassifikation: Wirtschaft
• Thema: EU enlargement ; fiscal consolidation ; socio-economic development ; Stability and Growth Pact ; Soziale Lage ; Sozialer Indikator ; Finanzpolitik ; Wirtschaftliche Konvergenz ; Griechenland ; Portugal ; Spanien ; Irland ; Europäischer Stabilitätsmechanismus

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Mehrotra, Aaron N. ; Peltonen, Tuomas A.
• Ereignis: Veröffentlichung
• (wer): European Central Bank (ECB)
• (wo): Frankfurt a. M.
• (wann): 2005

Weitere Informationen

• Handle: http://hdl.handle.net/10419/152901
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ