Political institutions and economic policy: Empirical findings

Abstract

The paper is an extension of our study on analysis of laws regulating relations between parliament and executive body in carrying out economic, particularly fiscal policy. This time, the influence of parliament to fiscal policy is measured empirically. In difference from results of the previous study, which showed that the Assembly exercised a relatively high influence to fiscal policy, here we show that the situation in practice is opposite the Government of Serbia has large power in carrying out fiscal policy, where as the influence of the Assembly of Serbia is negligible. The influence of legislative body is measured through analysis of two (out of six) indicators - power of submission of amendment sand budget reversion.

Tekst predstavlja nastavak naše studije o analizi zakona koji uređuju odnose između parlamenta i izvršnog tela uvođenju ekonomske, pogotovo fiskalne politike. Ovoga puta uticaj parlamenta na fiskalnu politiku merimo empirijski. Za razliku od rezultata iz prethodne studije, gde se pokazalo da Skupština ima relativno veliki uticaj na fiskalnu politiku, ovde pokazujemo da je u praksi situacija obrnuta - Vlada Srbije ima veliku moć u vođenju fiskalne politike, dok Skupština Srbije ima zanemarljivi uticaj. Uticaj zakonodavnog tela merimo kroz analizu dva (od ukupno šest) indikatora-moć podnošenja amandmana i reverzija budžeta.