Exploring the Fiscal Responsibility through Active Citizenship for Governance Quality

Active citizenship emphasizes the importance of understanding its added value to fiscal responsibility and governance quality for economic and sustainable growth. Firstly, the paper aims to review issues in the literature pertinent to the debate on the role and the characterization of active citizenship. Secondly, using a linear regression model, we provide new evidence on the relationship between active citizenship, on the one hand, and fiscal responsibility, government quality, and economic growth, on the other hand, for the 27 European Union countries, over the period from 2006 to 2019. Our results highlight that active citizenship determines a more responsible and efficient activity of government based on fiscal responsibility, contributing to economic growth and sustainable development.

Myles Brand and the Responsibility of Leadership

In his first address to the NCAA convention in 2003 Myles Brand outlined two key objectives: academic reform and fiscal responsibility. This article by someone who worked closely with Brand in NCAA leadership between 2003 and 2009 describes Brand's leadership style and how he led the planning and execution of these two important inititaives, one of which succeeded and the other which largely failed, despite Brand's best efforts. The article examines the causes of both the success and the failure and their influence on intercollegiate athletics.

THE CAUSES AND IMPLICATION OF DELAYED PASSAGE OF 2018 BUDGET ON THE NIGERIAS ECONOMIC RECOVERY AND GROWTH PLAN

The study utilized descriptive techniques in the assessment of the impact of sectoral allocations of Nigerias 2018 annual budget on selected macroeconomic variables of GDP growth rate, Exchange rate, Inflation, Oil prices, Oil production, Debt servicing among others and the 2016 Nigerias Economic Recovery and Growth Plan (ERGP). We identified some gray areas in the budget, budget padding, constitutional lacuna, non-compliance with fiscal responsibility Act, late preparation and consideration of medium-term expenditure framework, political face-off between the National Assembly and the executive, lack of patriotism as the causes of the long delay in the consideration and passage of the 2018 budget by the national Assembly. The study therefore recommends amendment of the 1999 constitution, sanctioning of erring Ministries, Departments and Agencies (MDAs) and deployment of ICT in budgeting tracking by civil society groups, communities and the general public.

Governance and Economic Impact of Covid-19 in Indian Federation

In the year 2019–2020, Indian economy was already on its trough and the incidence of coronavirus pandemic in 2020–2021 has further deteriorated the economic condition, limiting the fiscal space of the government. As need of the hour was to take some supportive measures to handle such an unusual situation, therefore various monetary and fiscal measures were taken by the government to overcome the impact of the pandemic. This resulted in overshooting of the fiscal deficit target set under the Fiscal Responsibility and Budget Management (FRBM) Act (2003) and made the government to revise its fiscal deficit target of 3.5% of Gross Domestic Product (GDP) in 2020–2021 Budget Estimates (BE) and 9.5% in 2020–2021 Revised Estimates (RE), and further it is projected as 6.8% of GDP for 2021–2022 (BE). After an estimated 7.7% pandemic-driven contraction in 2020–2021, India’s real GDP is projected to record growth of 11.0% in 2021–2022 and nominal GDP by 15.4%. The government is expected to generate 23% more revenue and has budgeted to increase its spending by only 0.95% in FY22 as compared to FY21 (RE). In order to deal with pandemic situation, the economists have suggested more active, counter-cyclical fiscal policy to enable growth during economic downturn. However, due to lack of revenue sources, it also becomes important to strategise the path for fiscal consolidation for the ensuing years.

Do Independent Fiscal Institutions Enhance Parliamentary Accountability in the Eurozone?

Independent fiscal institutions (IFIs) have been established or reformed in all eurozone countries following the reform of economic governance. As they are expected to counter the deficit bias of the governments and the information asymmetry of the legislatures and the public over the management of the budget, IFIs may support or even strengthen parliamentary accountability. This hypothesis is tested with regard to three IFIs, the Irish Fiscal Advisory Council, the Italian Parliamentary Budget Office, and the Spanish Independent Authority for Fiscal Responsibility. Although the economic context in which the IFIs were created was similar in the three eurozone countries, as was their mandate, these institutions have a rather different institutional positioning, being within the Parliament, in Italy; within the Executive, in Spain; and a stand-alone body in Ireland. This is likely to influence the IFIs’ contribution to parliamentary accountability, we hypothesize that the closer the position of an IFI and its contacts to the parliament, the stronger is the scrutiny of the executive on budgetary policies. The analysis of parliamentary questions, hearings, and of the activation of the ‘comply or explain’ procedures shows that, overall, the IFIs’ potential role to enhance parliamentary accountability has remained underexploited by the three legislatures, with no significant differences as for the institutional positioning of the IFI.

Utilización eficaz de las tecnologías de información y comunicación en procesos sancionatorios y responsabilidad fiscal

The objective of the article was to discuss the relationship between information technologies in the face of the sanctioning processes and fiscal responsibility, which occurred in the territorial tax control bodies, spaces and which more resources are required in technology with specific purpose for this purpose, taking advantage of the moment of the validity of Legislative Act 04 of 2019 in Colombia. Methodologically, the documentary research design near the critical essay was used. To illustrate the arguments and views of the research team, it shows situations in which the administrative process of sanctioning and fiscal responsibility could be improved, emphasizing the hypothesis that the use of information technologies allows the strengthening of the fundamental right of due process of those investigated. It is concluded that, when technological tools are extended to the institutionalist of the Colombian State, it is possible to have a better approach with citizenship, which generates a positive expectation in meeting their needs, being the essence of the Social State of Law to build at all times a democracy of results that transcends procedural formalities and expands social justice.

Economics of Campus Sustainability

Can sustainability initiatives support positive economics, or are they necessarily cost-additive? With thousands of colleges and universities across the globe actively pursuing sustainability and carbon-neutrality goals, the question of how to balance institutional sustainability priorities and fiscal responsibility hovers in discussions ranging from utility planning to student programming. Educational institutions often heavily weigh the economics and academics of a potential sustainability project. However, pressing issues with long-term implications, such as climate change and rising operations costs, can make campus sustainability projects an appealing option. Institutions will incorporate the environmental, financial, and social aspects of a decision differently and through different avenues of funding. Examples of measures that institutions of higher education are taking to incorporate sustainability include adaptations of campus infrastructure, operations, and administrative leadership, and those measures necessarily intersect with financial planning and outcomes. An overview of general models and specific institutional examples of sustainability initiatives in the areas of infrastructure, operations and management, education and community engagement, and administration indicate that sustainability measures, especially for environmental sustainability, can contribute to positive campus economics. This outcome, however, is most likely when decision-making considers both long-term and cross-sectoral impacts to evaluate the true cost–benefit profile as it applies to the institution as a whole.

Caractéristiques Et Conséquences Des Dispositions Constitutionnelles Relatives à La Responsabilité Budgétaire En Slovaquie

Summary Regulation of fiscal responsibility is an integral part of the Constitution in several European states. Among these states there is also Slovakia, which passed a special constitutional law on fiscal responsibility in 2011 and established the Fiscal Responsibility Council as an independent constitutional institution. This constitutional law was followed by a new constitutional amendment in 2020, which enshrines the explicit obligation for the State to protect the long-term sustainability of its economy through transparency and efficiency in the spending of public funds. In this context, this article analyzes the normative scope of this constitutional framework and its effects in practice, as well as the theoretical possibilities of its applicability in proceedings before the Constitutional Court of the Slovak Republic.

Lei de Responsabilidade Fiscal e Gasto Público com Pessoal / Fiscal Responsibility Law and Public Personnel Expenses

Utilizando-se da Lei de Responsabilidade Fiscal, este artigo tem como objetivos investigar se o poder executivo do estado de Pernambuco cumpriu os limites de gastos com pessoal no período de 2014 a 2019? Como ocorreu a evolução e composição desses gastos? Qual o impacto das receitas de ICMS e Transferências Correntes (TC) na Receita Corrente Líquida (RCL)? Esta pesquisa é classificada como descritiva, bibliográfica e quantitativa. Os resultados demonstraram que o poder executivo ultrapassou o limite de alerta em todos os anos e, por três anos consecutivos (2017, 2018 e 2019), ficou acima do limite prudencial, com destaque para o ano de 2017 que atingiu 48,97% da RCL, quando o limite máximo é de 49%; as despesas com Pessoal Inativo e Pensionistas aumentaram 11% a.a. enquanto com Pessoal Ativo cresceu 5% a.a.; por fim, não foi possível afirmar que o descumprimento dos limites teve como causa apenas as reduções das TC.

Central Counterparties are Too Big for the European Securities and Markets Authority (Alone): Constructive Critique of the 2019 CCP Supervision Regulation

Once seen as the solution to the systemic risk of over-the-counter derivatives, central counterparties (CCPs) have become a source of concern for the financial stability of the European Union (EU). Distress of a single CCP might be transferred to clearing members and others CCPs, thereby endangering EU monetary and fiscal stability. However, the European Market Infrastructure Regulation (EMIR) has left fiscal responsibility as well as day-to-day supervision of EU-based CCPs (EU-CCPs) at the national level, albeit cross-border colleges of authorities can overturn key decisions of national supervisors. The Commission concluded that these supervisory arrangements needed to be reformed because they hamper the development of a single coherent EU approach to CCP supervision. Although the Commission had proposed to centralise EU-CCP supervision in the European Securities and Markets Authority (ESMA), the final 2019 CCP Supervision Regulation seeks to improve EMIR’s ineffective collegial framework by establishing an internal CCP Supervisory Committee within ESMA. Nevertheless, the continuing lack of loss mutualisation would keep on hindering the development of a single approach to EU-CCP supervision. Moreover, the new regulation adds another layer of complexity to the EMIR framework and clashes with the European monetary constitution. If an agreement on loss mutualisation was reached, EU-CCP supervision should be centralised in two EU bodies along objective lines: while the European Central Bank should be tasked with EU-CCP prudential supervision, ESMA should be responsible for EU-CCP conduct of business supervision. This framework would improve EU-CCP supervision and fit in with the current EU governance at once.