“Restoring public finances: Fiscal and institutional reform strategies” and “Making budgets better: the OECD principles of budgetary governance” by Ronnie Downes at Seminar “Ajustes fiscais e reformas orçamentárias: a experiência internacional e o caso brasileiro” (10/2015). “Counter-cyclical fiscal policy – now an imperative – but the existing tools, incentives seem inadequate. Fiscal rules: simpler and clearer – but how to instil a culture of compliance, enforcement? Stronger institutions, with clear mandates are a potencial positive factor – but where on the spectrum from technical to critical? Medium-term frameworks are a potential positive factor – but only as a way of operationalising a fiscal target/rules…”
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