Relationship between fiscal policy and capital market performance: evidence from Romania

Stela Jakova and Gabriela-Victoria Anghelache
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Stela Jakova: Bucharest University of Economic Studies, Romania
Gabriela-Victoria Anghelache: Bucharest University of Economic Studies, Romania

Theoretical and Applied Economics, 2016, vol. XXIII, issue Special(I), 158-164

Abstract: The aim of this paper is to analyze the relationship between fiscal policy and capital market performance in Romania’s case for period 1997 – 2014, especially in the context of the recent global crisis. In order to understand this type of relationship very well, we analyzed the both directions: the way in which financial policy affect the capital market performance and also the way in which capital market performance affects the fiscal policy. Our analyses emphasized the fact that only capital market performance had a significant influence on public expenditure, while the fiscal policy does not have any significant impact on capital market.

Keywords: Fiscal policy; Capital market; Financial crisis. (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:xxiii:y:2016:i:special(i):p:158-164

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