Is there any effect of economic growth and human development on fiscal policy implementation?Abstract: The paper's scope is to study the effect of socio-economic structures on fiscal policy implementation in the 28 European Union Member States between 2007 and 2017. Fiscal policy was defined by considering Government Revenue (GREV) and Government Expenditure (GEXP) as a percentage of Gross Domestic Product collected from the Eurostat database and referred to the general government. To determine the socio-economic structures, human development and economic growth were chosen. The following instruments were applied to describe these two indicators: Human Development Index (HDI) to describe human development and were collected from the United Nations Development Programme, and the Gross Domestic Product growth rate (GDPgr) collected from the World Bank to explain economic growth. The methodology applied to test the stationarity of the data is the Unit Root Test and the Ordinary Least Squares method to reflect the impact of economic growth and human development on fiscal policy. The results reveal that human development and economic growth play an essential role in implementing fiscal policy

Calinovici, Alina Ioana

Is there any effect of economic growth and human development on fiscal policy implementation?Abstract: The paper's scope is to study the effect of socio-economic structures on fiscal policy implementation in the 28 European Union Member States between 2007 and 2017. Fiscal policy was defined by considering Government Revenue (GREV) and Government Expenditure (GEXP) as a percentage of Gross Domestic Product collected from the Eurostat database and referred to the general government. To determine the socio-economic structures, human development and economic growth were chosen. The following instruments were applied to describe these two indicators: Human Development Index (HDI) to describe human development and were collected from the United Nations Development Programme, and the Gross Domestic Product growth rate (GDPgr) collected from the World Bank to explain economic growth. The methodology applied to test the stationarity of the data is the Unit Root Test and the Ordinary Least Squares method to reflect the impact of economic growth and human development on fiscal policy. The results reveal that human development and economic growth play an essential role in implementing fiscal policy

Alina Ioana Calinovici
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Alina Ioana Calinovici: West University of Timisoara, Timisoara, Romania, Doctoral School of Economics and Business Administration

Finante - provocarile viitorului (Finance - Challenges of the Future), 2021, vol. 1, issue 23, 173-180

Keywords: government revenue; government expenditure; policy; EU Countries. (search for similar items in EconPapers)
JEL-codes: E62 O15 O47 (search for similar items in EconPapers)
Date: 2021
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