Factors in the Choice of Fiscal Governance: A Systematic Literature Review and Future Research Agenda

Financial Accountability & Management

Posted: 14 Nov 2021 Last revised: 1 Dec 2021

See all articles by Girley Damasceno

Girley Damasceno

University of Brasilia

Ricardo Gomes

Getulio Vargas Foundation (FGV)

Date Written: November 29, 2021

Abstract

The fiscal governance framework includes the rules and regulations that discipline the preparation, approval, and implementation of public budgets. It results from the power struggle of the actors that participate in the process of allocating public resources. Despite relevant studies published on the subject, this study aimed to provide background information on determinant factors in the choice and effects of fiscal governance framework adopted by governments in the scholarly conversation. For this, the systematic literature review method was adopted with the development of five steps: selecting a review topic, searching the literature, gathering, reading, and analysing the scientific papers published in the last ten years on the subject. Results show that fiscal crises and pressures and rewards of external bodies were the preponderant factors for reforms in the framework of fiscal governance adopted by governments. In another view, impacts of this framework on national public finances were investigated primarily by analysis of numerical fiscal rules. The research gaps identified indicate directions for future research.

Keywords: Fiscal Governance, Public Budget, Governance Framework, Determinant Factors, Public Finance

JEL Classification: M4

Suggested Citation

Damasceno, Girley and Gomes, Ricardo, Factors in the Choice of Fiscal Governance: A Systematic Literature Review and Future Research Agenda (November 29, 2021). Financial Accountability & Management, Available at SSRN: https://ssrn.com/abstract=3962904

Girley Damasceno (Contact Author)

University of Brasilia ( email )

FACE. Campus Asa Norte.
Brasilia, DF 70910900
Brazil

Ricardo Gomes

Getulio Vargas Foundation (FGV) ( email )

R. Dr. Neto de Araujo 320 cj 1307
Rio de Janeiro, Rio de Janeiro 22250-900
Brazil

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