Fiscal Rules: Useful Policy Framework or Unnecessary Ornament?

24 Pages Posted: 1 Feb 2006

See all articles by George Kopits

George Kopits

International Monetary Fund (IMF)

Multiple version iconThere are 2 versions of this paper

Date Written: September 2001


With the primary objective of conferring credibility on macroeconomic policies, an increasing number of advanced and emerging market economies have adopted various forms of fiscal rules (mainly balanced-budget requirements and debt limits). In contrast to previous fiscal rules, many of which lacked transparency, recently introduced rules have the potential of serving as a useful depoliticized policy framework, and over time, can contribute to stability and growth. To this end, they need to be well designed and supported by an appropriate institutional infrastructure.

Keywords: fiscal policy

JEL Classification: E61, E62, H6

Suggested Citation

Kopits, George, Fiscal Rules: Useful Policy Framework or Unnecessary Ornament? (September 2001). IMF Working Paper No. 01/145, Available at SSRN:

George Kopits (Contact Author)

International Monetary Fund (IMF) ( email )

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