2018-

Fiscal Frameworks and Fiscal Sustainability in the Nordics

Author(s): Lars Calmfors
Year: 2020Pages: 174Publisher: Nordic Council of MinistersCity: Copenhagen
ISBN: 978-92-893-6562-8

Fiscal Frameworks and Fiscal Sustainability in the Nordics Lars Calmfors

Public finances in the Nordics are facing great future challenges due to demographic developments. Increasing longevity is changing the age structure of the population, significantly raising the share of older people and thus the old-age dependency ratio. Over the last two decades, there has been a strong international trend to strengthen fiscal frameworks by adopting more stringent fiscal rules as well as increasing transparency and accountability. 

A first aim of the report is to survey and evaluate the fiscal frameworks in the Nordic countries. A second aim is to review how long-run sustainability analyses of public finances are made – and communicated to policy-makers and the general public – in the Nordics, by Ministries of Finance as well as by other institutions. The report also concludes the severity of the fiscal-sustainability problems in the Nordic countries.


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Reference:

Calmfors, Lars (2020). Fiscal Frameworks and Fiscal Sustainability in the Nordics. Copenhagen: Nordic Council of Ministers.

Lars Calmfors

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lars.calmfors@ifn.se

Interdisciplinary European Studies

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This book explores the complex and ever-changing relationship between the European Union and its member states. The recent surge in tension in this relationship has been prompted by the actions of some member state governments as they question fundamental EU values and principles and refuse to implement common decisions seemingly on the basis of narrowly defined national interests.

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