Direct democracy as a safeguard to limit public spending

Patricia Funk, Christina Gathmann 10 February 2012

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The current debt crisis in Europe and North America raises the question of how to impose spending discipline on governments and politicians. A country with historically low government spending is Switzerland, which many argue is related to the high use of direct democracy. Direct democracy is also prevalent in other countries such as the United States, where more than two thirds of the population lives in a state or city with a popular initiative.

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Topics:  Europe's nations and regions Politics and economics

Tags:  democracy, Switzerland, Fiscal crisis, Eurozone crisis

The growing international campaign against tax evasion

Bruce Blonigen, Lindsay Oldenski, Nicholas Sly 26 November 2011

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One of the few solid agreements that came out of the latest G20 summit in Cannes was that governments will increase their cooperative efforts to curb tax evasion. The agreement, called the Convention on Mutual Administrative Assistance in Tax Matters, allows national tax agencies to request greater amounts of information from foreign governments on the activity of multinational enterprises and private citizens that are otherwise outside their authority to monitor.

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Topics:  International finance International trade Taxation

Tags:  US, FDI, G20, Switzerland, bilateral tax treaties, Luxembourg

International liquidity provision during the financial crisis: A view from Switzerland

Raphael Auer, Sébastien Kraenzlin 31 March 2011

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In the years leading up to 2007, banks across the globe dramatically increased their balance-sheet exposure to foreign currencies. The result was a corresponding increase in demand for cross-border liquidity (see for example Behr et al. 2008, Puhr et al. 2009 and Brown et al. 2009). With the successive drying up of interbank markets during the global financial crisis, the private sector no longer provided this liquidity, thus requiring a coordinated action by the world’s major central banks.

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Topics:  Financial markets Global crisis International finance

Tags:  financial regulation, Switzerland, Cross-border liquidity

What are Switzerland’s vulnerabilities?

Cédric Tille 12 March 2009

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One can expect Switzerland to be highly exposed to the ongoing global turmoil, as it is a small economy with extensive linkages to the rest of the world through trade and financial channels. Indeed, its growth performance has weakened substantially, with GDP contracting by 1.2% on an annualised basis in the fourth quarter. This column argues that further weaknesses could be in store from trade, asset earnings, and banking channels.

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Topics:  Global crisis International finance

Tags:  Switzerland, global crisis debate, counties in crisis

Does direct democracy reduce the size of government?

Patricia Funk interviewed by Romesh Vaitilingam,

Date Published

Fri, 11/28/2008

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See Also

Related research here.

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Topics

Institutions and economics
Tags
democracy, government spending, Switzerland
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