Federalism, fiscal space, and public investment spending: Do fiscal rules impose hard budget constraints?

Arbeitspapier

The primary objective of rule-based fiscal legislation at the subnational level in India is to achieve debt sustainability by placing a ceiling on borrowing and the use of borrowed resources for public capital investment by phasing out deficits in the budget revenue account. This paper examines whether the application of fiscal rules has contributed to an increase in fiscal space for public capital investment spending in major Indian states. Our analysis shows that, controlling for other factors, there is a negative relationship between fiscal rules and public capital investment spending at the state level under the rule-based fiscal regime.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 872

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Public Economics: General
• Thema: Fiscal Deficit ; Revenue Deficit ; Fiscal Rule

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Chakraborty, Pinaki
• Ereignis: Veröffentlichung
• (wer): Levy Economics Institute of Bard College
• (wo): Annandale-on-Hudson, NY
• (wann): 2016

Weitere Informationen

• Handle: http://hdl.handle.net/10419/173481
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ