Show simple item record

dc.contributor.authorBarta, Zsófia
dc.date.accessioned2021-02-10T12:58:18Z
dc.date.issued2018-02-01
dc.date.submitted2018-02-01 23:55:55
dc.date.submitted2020-03-12 03:00:32
dc.date.submitted2020-04-01T13:00:49Z
dc.identifier645364
dc.identifierOCN: 1013477427
dc.identifierhttp://library.oapen.org/handle/20.500.12657/30544
dc.identifier.urihttps://directory.doabooks.org/handle/20.500.12854/34063
dc.description.abstractWhy do rich countries flirt with fiscal disaster? Between the 1970s and the 2000s, during times of peace and prosperity, affluent countries—like Belgium, Greece, Italy, and Japan—accumulated so much debt that they became vulnerable and exposed themselves to the risk of default. In the past three decades, an extensive scholarly consensus emerged that these problems were created by fiscal indiscipline, the lack of sufficient concern for budgetary constraints from policy makers as they try to please voters. This approach formed the foundation for the fiscal surveillance system that attempted to bring borrowing in European countries under control via a set of fiscal rules. In the Red demonstrates that the problem of sustained, large-scale debt accumulation is an adjustment issue rather than a governance failure. Irrespective of whether the original impetus for borrowing arose from exogenous changes or irresponsible decision making, policy makers invariably initiate spending cuts and/or tax increases when debt grows at an alarming rate for several years in a row. Zsófia Barta argues that explaining why some countries accumulate substantial amounts of debt for decades hinges on understanding the conditions required to allow policy makers to successfully put into place painful adjustment measures.
dc.languageEnglish
dc.rightsopen access
dc.subject.otherPolitical Science
dc.subject.otherBelgium
dc.subject.otherFiscal policy
dc.subject.otherGreece
dc.subject.otherGross domestic product
dc.subject.otherIreland
dc.subject.otherItaly
dc.subject.otherJapan
dc.subject.otherSocial security
dc.titleIn The Red
dc.title.alternativeThe Politics of Public Debt Accumulation in Developed Countries
dc.typebook
oapen.identifier.doi10.3998/mpub.9726915
oapen.relation.isPublishedByb7359529-e5f7-4510-a59f-d7dafa1d4d17
oapen.relation.isFundedByb818ba9d-2dd9-4fd7-a364-7f305aef7ee9
oapen.relation.isFundedBy969f21b5-ac00-4517-9de2-44973eec6874
oapen.relation.isbn9780472900923
oapen.collectionKnowledge Unlatched (KU)
oapen.place.publicationAnn Arbor
oapen.grant.number100858
oapen.grant.programKU Select 2017: Front list Collection
dc.number100858
dc.relationisFundedByb818ba9d-2dd9-4fd7-a364-7f305aef7ee9


Files in this item

FilesSizeFormatView

There are no files associated with this item.

This item appears in the following Collection(s)

Show simple item record

open access
Except where otherwise noted, this item's license is described as open access