OECD Economic Outlook, Volume 2007 Issue 1

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Fiscal Consolidation
Lessons from Past Experience
Fiscal consolidation is required in most OECD countries. This is especially so in view of medium and long-term spending pressures on public finances related, inter alia, to ageing. Countries that are successful in consolidating will then face the challenge of locking in the gains achieved. Against that background, this chapter presents evidence on the factors that in the past were associated with successful consolidation and with the preservation of those gains.
Also available in: French
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