Advanced Countries x FRL (Lienert)

Should advanced countries adopt a fiscal responsibility law? by Ian Lienert, published by IMF. This paper explores why so few advanced countries have adopted a FRL.  Possible reasons include: advanced countries are more mature than emerging countries with respect to the aims of FRLs;…The achievement of the fiscal stability objectives of FRLs has been largely successful in attaining its main objetives. This is remarkable, given that the law applies not only at federal level but also encompasses all 26 indepndent States.