Peree, Eric; Valila, Timo - Economics Department, European Investment Bank (EIB) - 2005
This paper examines the link between fiscal rules and public investment both normatively and empirically. We first … review the arguments for and against including public investment spending in a fiscal deficit rule. We then seek to assess … the determinants of public investment, with a special focus on the role of the fiscal rules embodied in EMU. We conclude …