Fiscal consolidation: part 5. What factors determine the sucess of consolidation efforts? by Margit Molnar published by OECD (2012). “The global economic and financial crisis exacerbated the need for fiscal consolidation in many OECD countries. Drawing lessons from past episodes of fiscal consolidation, this paper investigates the economic environments, political settings and policy measures conductive to fiscal consolidation and debt stabilisation using probit, duration, truncated regression and bivariate Heckman selection methods…”
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