Economic Constraints on Public Policy

John Quiggin

in The Oxford Handbook of Public Policy

Published in print June 2008 | ISBN: 9780199548453
Published online September 2009 | | DOI:

Series: Oxford Handbooks of Political Science

Economic Constraints on Public Policy

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This article studies the economic constraints on public policy. It examines the relationship between accounting identities and economic constraints, and introduces the notions of ‘crowding out’ and ‘twin deficits’. These notions are referenced in the discussion on the relationship between budget balance constraints and external balance constraints. The article also considers the dual relationship between constraints and trade-offs; this relationship serves as the basis for a consideration of how public policy can respond to constraints and trade-offs.

Keywords: economic constraints; accounting identities; crowding out; twin deficits; budget balance constraints; external balance constraints; trade-offs

Article.  6381 words. 

Subjects: Politics ; Public Policy ; Comparative Politics

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