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Author: Clément Vaneecloo Publisher: Peter Lang ISBN: 9789052010441 Category : Business & Economics Languages : en Pages : 244
Book Description
The book tackles a key issue for the European Union: Fiscal Federalism. It evaluates the applicability of this theoretical perspective for the EU. Conversely, it pinpoints ways in which the diversity of existing fiscal settings and organisations, both at national and European levels, can throw light on the theory. The study analyses two of the most important European policies: Cohesion Policy and the Stability and Growth Pact. It compares the episode of German Unification to the 2004 European Enlargement. It pioneers a cross-country analysis of the various national fiscal settings. Finally, it highlights the close links between the dynamics of decision-making related to the main budgetary choices and the integration process. The questions raised are crucial in the current context of economic and institutional uncertainty: How should we apprehend the Cohesion Policy, the main expression of European solidarity? How can the coordination of national fiscal policies be improved? How are European countries and their regions organised in fiscal and budgetary terms? What lessons can the EU draw from its own fiscal past and from that of its Member States? Over and above the originality of the answers provided by the authors, the book suggests that it would be difficult to take the integration process further without first clarifying what Europe can, should or wants to do.
Author: Mark Baimbridge Publisher: Routledge ISBN: 1134538758 Category : Business & Economics Languages : en Pages : 235
Book Description
The pace of economic integration amongst European Union (EU) member states has accelerated considerably during the past decade, highlighted by the process of Economic and Monetary Union (EMU). Many aspects of the EU's apparatus, however, have failed to evolve in order to meets these new challenges. This book explores the issue of fiscal federalism within the context of EU integration from theoretical, historical, policy and global perspectives. It contrasts the pace of integration amongst EU member states with the failure of financial and administrative apparatus to evolve to encompass fiscal federalism, i.e. the development of a centralised budgetary system. This impressive collection, with contributions from a range of internationally respected authors, shall interest students and researchers involved with European economics and economic integration. Its accessible style will also make it extremely useful to policy-makers and professionals for whom European economic integration is a daily topic of conversation.
Author: Publisher: Oxford University Press ISBN: 0192569724 Category : Law Languages : en Pages : 321
Book Description
Fiscal federalism refers to the division of fiscal powers — powers to tax and spend — between different levels of government. The European Union (EU) is often seen as a legislative giant on clay feet, and one of the principal reasons for this feebleness is the lack of a significant fiscal capacity at the Union level. EU Fiscal Federalism: Past, Present, Future explores ten aspects of the EU's fiscal constitution relating both to the fiscal limits it imposes on Member States and the evolution of its own fiscal policy. Bringing together an international and distinguished group of scholars, this volume analyses the different legal dimensions of fiscal federalism within the EU, from the various aspects of the single market (free movement, banking union, state aid, tax harmonisation) to the EU's budget and Economic and Monetary Union. The essays provide a fascinating overview of the topic as well as a detailed analysis of where EU fiscal federalism stands today and how it might develop in the future. Sweeping and thorough, EU Fiscal Federalism addresses topics vital to maintaining and strengthening the Union's fiscal capabilities. It will appeal to academics and students of European Union law and political economy as well as European policymakers.
Author: Anand Menon Publisher: Oxford University Press, USA ISBN: 0199291101 Category : Law Languages : en Pages : 384
Book Description
Comparative federalism is an important topic, with scholarly work comparing the US & EU 'proliferating rapidly'. This volume seeks to build on & contribute to this literature, by developing a systematic comparison of the institutions, policies & developmental patterns of the European Union & the United States.
Author: Alicia Hinarejos Publisher: ISBN: Category : Languages : en Pages : 28
Book Description
The euro area sovereign debt crisis was, in part, the result of the institutional and legal design of the Economic and Monetary Union (EMU). The crisis highlighted the fact that, for EMU to be fully sustainable as a multilevel system of fiscal and economic governance, it should be able to address the following challenges: (1) enforcing fiscal discipline; (2) addressing structural inequalities between different euro area economies; and (3) preventing and countering asymmetric shocks in an efficient manner. These are challenges that all federal, multilevel or fiscally decentralized systems face when allocating fiscal powers to different levels of government, and when attempting to find a balance between excessive centralization/decentralization.Over the years, from its creation through the euro area sovereign debt crisis and its aftermath, EMU has evolved to address these problems in different ways. This paper analyses the evolution of the EU's multilevel system of fiscal governance in relation to these three challenges, showing that they have been only partially addressed. The paper argues that, if it were to address the three highlighted obstacles more fully, the EU would face a crucial choice between two ideal models of fiscal integration: The 'surveillance model', where Member States continue to maintain all taxing power and where the EU is an enforcer of discipline, and the 'classic fiscal federalism' model, where the EU acquires its own independent sphere of fiscal authority, and thus its own fiscal tools for macroeconomic stabilization. The paper has discussed how to articulate a classic system of fiscal federalism -- i.e., where different fiscal functions and instruments are attributed to different levels of government -- within the Union, and the problems that this raises.The main aim of this paper is to provide a clear overview of the obstacles facing EMU and, more importantly, of the two ideal models of further fiscal integration available to the Union. Furthermore, although it may seem counterintuitive, the paper will show that the surveillance model poses just as much of a threat to Member States' autonomy, and presents us with the same democratic legitimacy problems, as the classic fiscal federalism model. The danger is that, in an effort to avoid the radical changes that come with classic fiscal federalism, the euro area may be edging slowly towards the surveillance model without the necessary awareness and debate.
Author: Brady Gordon Publisher: Cambridge University Press ISBN: 1108904904 Category : Law Languages : en Pages : 565
Book Description
This book bridges the study of European constitutionalism with the study of 'fiscal federalism' – the subfield of public economics concerned with structuring public finances between different levels of government in federal states. On one axis, this book delves into European Union and Member State constitutional law from all EU Member States in order to investigate and identify the existence of permanent constitutional boundaries that will impinge upon the selection of proposed models for EU fiscal federalism. On the second axis, this book engages the study of fiscal federalism in order to determine which institutional configurations known to that field remain legally and economically implementable within those boundaries. It provides a far-reaching investigation of which models of fiscal federalism are compatible with the constitutional boundaries of the European legal order.
Author: Joachim Jens Hesse Publisher: OUP Oxford ISBN: 9780198279921 Category : Political Science Languages : en Pages : 440
Book Description
The constitutional and institutional development of the European Union, and federalism in particular, are widely and intensively debated. The issue of federalism has proved to be divisive and misunderstood. This book provides a critical reappraisal of the political, economic, and socio-cultural potential of current federal political-institutional arrangements. It includes both an analysis of their necessary preconditions as well as an evaluation of their advantages and disadvantages compared with other forms of state organization. The authors examine the issue at the level of the Union, the member states, and the states of Central and Eastern Europe, reflecting the increasing interdependence and interplay of these three levels: nation states in all parts of Europe influencing one another and the Union, and being influenced by it. The book concludes with an overall assessment of the federalizing processes at work in Europe, both at the Union and the nation state level, and points out the problems, paradoxes, and likely outcomes of these processes.
Author: Mr.Carlo Cottarelli Publisher: International Monetary Fund ISBN: 1138783226 Category : Business & Economics Languages : en Pages : 270
Book Description
Does the European Union need closer fiscal integration, and in particular a stronger fiscal centre, to become more resilient to economic shocks? This book looks at the experience of 13 federal states to help inform the heated debate on this issue. It analyses in detail their practices in devolving responsibilities from the subnational to the central level, compares them to those of the European Union, and draws lessons for a possible future fiscal union in Europe. More specifically, this book tries to answer three sets of questions: What is the role of centralized fiscal policies in federations, and hence the size, features and functions of the central budget? What institutional arrangements are used to coordinate fiscal policy between the federal and subnational levels? What are the links between federal and subnational debt, and how have subnational financing crises been handled, when they occurred? These policy questions are critical in many federations, and central to the current discussions about future paths for the European Union. This book brings to the table new, practical insights through a systematic and comprehensive comparison of the EU fiscal framework with that of federal states. It also departs from the decentralization perspective that has been prominent in the literature by focusing on the role of the centre (which responsibilities are centralized at the federal level and how they are handled, rather than which functions belong to the local level). Such an approach is particularly relevant for the European Union, where a fiscal union would imply granting new powers to the centre.
Author: Amedeo Fossati
Author: Amedeo Fossati
Author: Clément Vaneecloo
Author: Mark Baimbridge
Author: 
Author: 
Author: Anand Menon
Author: Alicia Hinarejos
Author: Brady Gordon
Author: Joachim Jens Hesse
Author: Mr.Carlo Cottarelli