Fiscal Rules for Sub-national Governments The Menu and Implications from the Cross-country Comparison

Abstract

I. Introduction

II. General Status of Fiscal Rules and the Present State of the Introduction of Fiscal Rules for Sub-national Governments

1. Definitions and Types of Fiscal Rules

2. Status of the Adoption of Sub-national Fiscal Rules and Problems Thereof

3. Present Status of Discussions on Sub-national Fiscal Rules

III. Examples for the Adoption of Sub-national Fiscal Rules in Major Countries

1. Austria

2. Belgium

3. Germany

4. Italy

5. Spain

6. Latin America

7. United States

IV. Operation of Fiscal Management Systems among PEMNA Nations

1. Thailand

2. Indonesia

3. Malaysia

4. China

V. Conclusion and Policy Implications

1. Summary and Implications

2. Need for Additional Analysis

References