RELATIVE EFFICIENCY OF MONETARY AND FISCAL POLICIES: THE CASE OF ROMANIA

Mert Topcu, Ayhan Kuloglu, Oana-Ramona Lobont
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Mert Topcu, Ayhan Kuloglu, Oana-Ramona Lobont: Faculty of Economics and Administrative Sciences, Department of Economics, Nevșehir University, Nevșehir-Turkey; Faculty of Economics and Business Administration, Timișoara, România

Annals - Economy Series, 2012, vol. 1, 47-51

Abstract: In this paper, it is investigated whether monetary or fiscal policy is more effective on real activity in Romanian economy over the period 2004:IV-2011:II. Empirical findings obtained from OLS and causality estimations support the existence of a strong relationship between fiscal policy instruments and real economic activity. Besides, there exists no correlation between EU membership of Romania and their economic performance. Findings alsa indicate 2008 financial crisis effects Romanian economy in a highly negative way. Hence, it can be concluded thet fiscal policy is more effective rather than monetary policy in both short and relatively long run in Romania.

Keywords: monetary policy; fiscal policy; real activity; Romania (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2012:v:1:p:47-51

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