Part of the series :
Description
Fiscal Rules and Public Investment
This paper examines the link between fiscal rules and public investment both normatively and empirically. We first review the arguments for and against including public investment spending in a fiscal deficit rule. We then seek to assess the determinants of public investment, with a special focus on the role of the fiscal rules embodied in EMU. We conclude that there are practical difficulties precluding the introduction of a “golden rule” and that there is virtually no evidence that EMU would have affected public investment. Therefore, the focus on safeguarding the level of public investment is somewhat misplaced; instead, one should focus on safeguarding its productivity.
Publications
- Economic and Financial Reports Volume 01/1999
- Economic and Financial Reports Volume 02/1999
- Economic and Financial Reports Volume 01/2000
- Economic and Financial Reports Volume 02/2000
- Economic and Financial Reports Volume 01/2001
- Economic and Financial Reports Volume 02/2001
- Economic and Financial Reports Volume 03/2001
- Economic and Financial Reports Volume 01/2002
- Economic and Financial Reports Volume 02/2002
- Economic and Financial Reports Volume 01/2003
- Economic and Financial Reports Volume 02/2003
- Economic and Financial Reports Volume 01/2004
- Economic and Financial Reports Volume 02/2004
- Economic and Financial Reports Volume 01/2005
All publications in this series
- How bad is the Ukraine war for the European recovery?
- Recharging the batteries
- Unlocking digital connectivity in Africa
- A partnership with Africa
- Artificial intelligence, blockchain and the future of Europe
- Artificial intelligence, blockchain and the future of Europe - Executive Summary
- Rural connectivity toolkit
- The digitalisation of small and medium-sized enterprises in Italy: Models for financing digital projects - Summary Report
- The rise of Africa’s digital economy
- Accelerating the 5G transition in Europe - Executive summary
- Accelerating the 5G transition in Europe
- The EIB COVID-19 Economic Vulnerability Index - An analysis of countries outside the European Union
- From starting to scaling
- Three foundations: A competitive, sustainable, inclusive Europe
- Feeding future generations: How finance can boost innovation in agri-food
- Feeding future generations: How finance can boost innovation in agri-food - Executive summary
- Smart Cities, Smart Investment in Central, Eastern and South-Eastern Europe
- Investing in Europe’s future: the role of education and skills
- Inequality in Europe
- Migration and the EU: Challenges, opportunities, the role of EIB
- Restoring EU competitiveness
- Unlocking lending in Europe
- ECON Note - The impact of the recession in 2008-2009 on EU regional convergence
- ECON Note - PPPs and their financing in Europe
- ECON Note n°02-2012 - EIB Priorities Studies
- ECON Note n°01-2012 - EIB Priorities Studies
- Economic and Financial Reports Volume 01/2010
- Economic and Financial Reports Volume 05/2010
- Economic and Financial Reports Volume 04/2010
- Innovation and productivity growth in the EU services sector
- Economic and Financial Reports Volume 03/2010
- Economic and Financial Reports Volume 02/2010
- Economic and Financial Reports Volume 01/2009
- Economic and Financial Reports Volume 01/2008
- Economic and Financial Reports Volume 03/2007
- Economic and Financial Reports Volume 02/2007
- Economic and Financial Reports Volume 01/2007
- Economic and Financial Reports Volume 03/2006
- Economic and Financial Reports Volume 02/2006
- Economic and Financial Reports Volume 01/2006
- Economic and Financial Reports Volume 03/2005
- Economic and Financial Reports Volume 01/2005
- Economic and Financial Reports Volume 02/2004
- Economic and Financial Reports Volume 01/2004
- Economic and Financial Reports Volume 02/2003
- Economic and Financial Reports Volume 01/2003
- Economic and Financial Reports Volume 02/2002
- Economic and Financial Reports Volume 01/2002
- Economic and Financial Reports Volume 03/2001
- Economic and Financial Reports Volume 02/2001
- Economic and Financial Reports Volume 01/2001
- Economic and Financial Reports Volume 02/2000
- Economic and Financial Reports Volume 01/2000
- Economic and Financial Reports Volume 02/1999
- Economic and Financial Reports Volume 01/1999
