Working Papers, Department of Economics, Lund University
The Swedish Experience of Fiscal Reform: Lessons for Portugal
Abstract: This paper derives a set of policy lessons for Portugal
from the new fiscal framework including a fiscal policy council that
gradually emerged in Sweden after the deep economic crisis of the early
1990s. By now, Swedish public finances stand out among the strongest in
Europe. Recent Swedish macroeconomic performance has been impressive. As
Sweden and Portugal are small open economies in the periphery of Europe,
Sweden may serve as a fiscal model for Portugal. Policy lessons are
distilled from the Swedish experience for Portugal, stressing the
importance of the economic policy culture for macroeconomic outcomes and
for trust in government institutions and policies.
Keywords: Fiscal rules; fiscal policy council; fiscal policy; public debt; Sweden; Portugal.; (follow links to similar papers)
JEL-Codes: E52; E62; E63; E65; F44; H62; O52; (follow links to similar papers)
45 pages, August 7, 2014
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