When the Partys Over: The Politics of Fiscal Squeeze in Perspective

Hardcover | October 8, 2014

EditorChristopher Hood, David Heald, Rozanna Himaz

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The politics of cutting public spending or raising taxes (or both) has dominated politics in many democracies in recent years. A new era of conflict has developed, with old political alignments being tested and new battles emerging over whose expectations are to be disappointed and who shouldbe blamed for fiscal squeeze.Do parties who cut spending always go down to defeat in elections? Are there "best practice" cases that every government should follow when it has to cut spending or raise taxes to balance its public finances? Such issues have mainly been analysed from an economic or financial perspective and in the context of recent cases. By contrast, this book focuses on the politics of fiscal squeeze and takes a longer view. It combines quantitative and qualitative analysis to examine cases ranging from the fiscalsqueeze in the United States in the 1830s/40s (when half of the states then in the Union defaulted) to the squeeze following the 2001 Argentinian default. It assesses who were the winners and losers, who got the blame and what were the longer-term effects on politics and government. It argues that"how to do it" approaches to fiscal squeeze in democracies, based on apparently successful cases, often fail to take into account profound differences in circumstances.

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The politics of cutting public spending or raising taxes (or both) has dominated politics in many democracies in recent years. A new era of conflict has developed, with old political alignments being tested and new battles emerging over whose expectations are to be disappointed and who shouldbe blamed for fiscal squeeze.Do parties who ...

Christopher Hood is Gladstone Professor of Government and Fellow of All Souls College, Oxford, UK. David Heald is Professor of Accountancy at the University of Aberdeen Business School. Rozanna Himaz is Lecturer in Economics at Queen's College Oxford and Post Doctoral Researcher, Department of Politics, Oxford, UK.

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Format:HardcoverPublished:October 8, 2014Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0197265731

ISBN - 13:9780197265734

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Table of Contents

PART ONE: Introduction1. Christopher Hood and David Heald: The Politics of Fiscal Squeeze2. Rozana Himaz and Christopher Hood: Comparing Fiscal Squeezes Across Nine Country CasesPART TWO: Case Studies3. Alasdair Roberts: Managing Fiscal Squeeze After the United States' Panic of 18374. Christopher Hood and Rozana Himaz: The UK Geddes Axe of the 1920s in Perspective5. Chris Eichbaum and Bob Gregory: Carpe Diem! New Zealand's Fiscal Squeeze, 1990-1993: Economic Problems, Welfare Reform and Political Consequences6. Walter Kickert: Fiscal Squeeze in Dutch Municipalities in the 1980s: Cutback Measures and Public Management Reforms7. Niamh Hardiman: Repeating History: Fiscal Squeeze in Two Recessions in Ireland8. Martin Lodge and Kai Wegrich: Fiscal Consolidation in Germany: Drifting Away from the Politics of the Switching Yard?9. Anders Lindbom: Fiscal Squeeze in Sweden 1990-1997: The Causes, the Measures, and Their Short- and Long-run Effects10. Donald Savoie: A Perfect Storm in Reverse: The 1994-97 Program Review in Canada11. Sebastian Dellepiane: Budget Politics in Really Hard Times: Fiscal Squeeze During and After Argentina's Great DepressionPART THREE: Conclusion12. David Heald, Rozana Himaz and Christopher Hood: Politics In and After Fiscal Squeeze