The distinguished authors in this volume address the fundamental causes for such heterogeneous international experiences, placing particular emphasis on the role of institutions. They demonstrate how the study of economic development is increasingly linked to the development of institutions,...

This book makes a valuable, analytical contribution to recent debates on the ongoing institutional changes occurring within the European Union. It provides a comprehensive and diverse insight into a variety of areas, including in-depth studies of fiscal, monetary and voting issues, to help...

<i> Il primo anno di applicazione del Patto di stabilità interno: una valutazione </i> (di Fabrizio Balassone, Daniele Franco e Stefania Zotteri) - ABSTRACT: A Domestic Stability Pact has been introduced in Italy with the budget law for the year 1999. The Pact aims at involving Regions and other local...

The Stability and Growth Pact sets a medium-term target for fiscal policy of a budgetary position "close to balance of in surplus". This addition to the deficit rule defined by the Maastricht Treaty has been interpreted as an attempt to reconcile the objective of sound public finances with the...

The experience of other successful monetary unions and economic theory suggest that the euro area would benefit from the establishment of a supranational fiscal capacity. Institutional reforms prompted by the crisis (e.g., the European Stability Mechanism and the banking union) are introducing...

The generalised economic downturn in developed countries and the significant constraints on both their monetary and fiscal policies have prompted new infrastructure investments as a tool to promote economic growth. However, both the critical analysis of the existing academic literature and the...

<i> Il Patto di stabilità interno due anni dopo: norme più «morbide», risultati più deludenti </i> (di Fabrizio Balassone e Stefania Zotteri) - ABSTRACT: A Domestic Stability Pact (DSP) has been introduced in Italy in 1998, in order to involve Regions and other local authorities in the effort to...