Gauging By Numbers: A First Attempt To Measure The Quality Of Public Finances In The EU

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Executive Summary

Ensuring high Quality of Public Finances (QPF) with a view to supporting long-term economic growth has gained new urgency as the room for fiscal maneuver has shrunk in light of the current crisis. To more systematically analyze QPF and compare developments across countries and over time, a greater focus on identifying and developing comparable QPF indicators is needed. This paper provides a first attempt in this respect. Based on the view that QPF is a multi-dimensional concept, it creates composite indicators for twelve areas of public finances that are linked to long-term economic growth.

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