A Comparative Study of their
Economic and Political Consequences in Britain, Canada, Germany & the USt
1st Edition
Professor R. Sturm
1999 152 pages 0582-25343-8
(Paperback)
Public Deficits are one of
the most pressing problems in all advanced industrialised countries. Public indebtedness
has reached proportions which threaten selected government policies and even challenge the
governability of democracies. This important new book focuses on four G-7 countries:
Britain, Canada, Germany and the United States. These countries have different economic
traditions, institutions and budgetary procedures and have developed different approaches
to the problem of public deficits. Through a unique comparative approach the authors reach
the core of the deficit problem and what it means for governments in democratic societies.
Before providing a specific analysis they ask:
* What is public debt, and what is the theoretical background for the analysis of the
deficit problem?
* What are the political and social consequences of budgetary deficits, and are there any
restrictions for the management of budgets in this era of economic globalisation and
regionalisation?
A detailed study follows, of the experience of Britain, Canada, Germany and the United
States. Consideration of the same issues in each help the comparison: the history of the
deficit problem; the institutional framework for decisions on the deficit; the importance
of the debt problem in the national political and economic discourse; and the effects of
deficit control policies. The concluding chapter is an in-depth comparison of the four
countries and puts the problem of public deficits into a political science perspective.
* A Unique comparative
analysis of a major problem for all advanced industrialised countries
* Sets individual national debates in a wider context
* Compares a range of solutions proposed for deficit reductions
* Based on original research and the latest research results, made accessible to any
reader
1
Introduction 1.1 What is the Public Debt? 1.2 The Evolution of the Deficit 1.3 Public
Deficits in the light of economic theories 1.4 Political and social consequences of public
deficits 1.5 Debt management policies 1.6 Limits fo rthe Public Debt; 2: Britain 2.1 the
history of the deficit problem 2.2 The institutional framework for decisions on the
deficit 2.3 The debt crisis in perspective; 2.4 Deficit control policies 2.5 Deficits -
the British experience 3 Canada 3.1 the history of the deficit problem 3.2 The
Institutional framework for decisions on the deficit 3.3 The debt crisis in persepctive
3.4 Deficit control policies 3.5 Deficits - the Canadian experience 4 Germany 4.1 The
history of the deficit problem 4.2 The institutional framework for decisions on deficit
3.3. The debt crisis in perspective 3.4 Deficit control policies 4.5 Deficits - the German
experience; 5 USA 5.1 The history of the deficit problem; 5.2 The institutional framework
for decisions on the deficit 5.3 The debt crisis in perspective 5.4 Deficit control
policies 5.5 Deficits - the United States experience 6 Public Deficits: a challenge to
governance?.
Roland Sturm is an emminent
author and academic on topics of European, comparative and economic policies, and Head of
the Political Science Department, University of Erlangen-Nuremberg, Germany. Markus Muller
is a staff member and heads a research unit on regulatory reform.