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dc.contributor.authorCatania, M
dc.contributor.authorBaimbridge, MJ
dc.contributor.authorLitsios, I
dc.date.accessioned2023-11-15T16:14:37Z
dc.date.available2023-11-15T16:14:37Z
dc.date.issued2021-10-15
dc.identifier.issn1096-3367
dc.identifier.issn1945-1814
dc.identifier.urihttps://pearl.plymouth.ac.uk/handle/10026.1/21649
dc.description.abstract

<jats:sec><jats:title content-type="abstract-subheading">Purpose</jats:title><jats:p>The objective of this study is to understand the budgetary role of national legislatures in euro area (EA) countries and to analyse implications for fiscal discipline.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title><jats:p>Building on the budget institutions literature, a legislative budgetary power index for all the 19 euro area (EA) countries is constructed using Organisation for Economic Co-operation and Development (OECD) and European Commission data as well as data generated from questionnaires to national authorities. A two-way fixed effects panel data model is then used to assess the effect of legislative budgetary power on the budget balance in the EA during 2006–2015.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Findings</jats:title><jats:p>Overall, in the EA, formal legislative powers vis-à-vis the national budgetary process are weak, but there is more legislative involvement in Stability and Growth Pact (SGP) procedures, and legislative budgetary organisational capacity is generally quite good. In contrast to the traditional view in the budget institutions literature, this study’s empirical findings show that strong legislative budgetary power does not necessarily result in larger budget deficits.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Research limitations/implications</jats:title><jats:p>Data on legislative budgeting were available from different sources, and time series data were very limited.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Practical implications</jats:title><jats:p>There is scope to improve democratic legitimacy of the national budgetary process in the EA, without necessarily jeopardising fiscal discipline.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-subheading">Originality/value</jats:title><jats:p>The constructed legislative budgetary power index covers all the 19 EA countries and has a broad scope covering various novel institutional characteristics. The empirical analysis contributes to the scarce literature on the impact of legislative budgeting on fiscal discipline.</jats:p></jats:sec>

dc.format.extent635-661
dc.languageen
dc.publisherEmerald
dc.subject3501 Accounting, Auditing and Accountability
dc.subject35 Commerce, Management, Tourism and Services
dc.subjectGeneric health relevance
dc.titleLegislative budgetary power and fiscal discipline in the euro area
dc.typejournal-article
dc.typeJournal Article
plymouth.issue5
plymouth.volume33
plymouth.publisher-urlhttp://dx.doi.org/10.1108/jpbafm-03-2021-0037
plymouth.publication-statusPublished
plymouth.journalJournal of Public Budgeting Accounting and Financial Management
dc.identifier.doi10.1108/jpbafm-03-2021-0037
plymouth.organisational-group|Plymouth
plymouth.organisational-group|Plymouth|Faculty of Arts, Humanities and Business
plymouth.organisational-group|Plymouth|REF 2021 Researchers by UoA
plymouth.organisational-group|Plymouth|Users by role
plymouth.organisational-group|Plymouth|Users by role|Academics
plymouth.organisational-group|Plymouth|REF 2021 Researchers by UoA|UoA17 Business and Management Studies
plymouth.organisational-group|Plymouth|Faculty of Arts, Humanities and Business|Plymouth Business School
plymouth.organisational-group|Plymouth|REF 2028 Researchers by UoA
plymouth.organisational-group|Plymouth|REF 2028 Researchers by UoA|UoA17 Business and Management Studies
dcterms.dateAccepted2021-06-07
dc.date.updated2023-11-15T16:14:32Z
dc.rights.embargodate2023-11-22
dc.identifier.eissn1945-1814
rioxxterms.versionofrecord10.1108/jpbafm-03-2021-0037


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