Scandinavian Working Papers in Economics
Working Papers,
Lund University, Department of Economics
No 2014:27: The Swedish Experience of Fiscal Reform: Lessons for Portugal
Lars Jonung ()
Additional contact information
Lars Jonung: Department of Economics, Lund University, Postal: Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund, Sweden
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.
JEL-codes: E52; E62; E63; E65; F44; H62; O52
45 pages, August 7, 2014
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wp14_27.pdf
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