Politics, Institutions, and Fiscal Policy: Deficits and Surpluses
in Federated States, Louis M. Imbeau and Francois Petry (editors),
Studies in Public Policy; Toronto: Lexington Books, 2004, pp. 239.Despite the continual attention by the public, the media and
politicians on governmental deficits, surpluses and governmental debt over
the past decade, the political science literature in this area is sparse.
When political scientists do venture into this area, they are unduly
influenced by economic considerations rather than using
political-institutional explanations. Happily this volume avoids the usual
approaches and instead emphasizes political variables. In particular, the
editors and authors highlight the importance of the proximity of
elections, the ideology of the incumbent party, and the severity of
established anti-deficit policies.