THE DETERMINANTS OF BUDGET DEFICIT IN ROMANIA

Oana Elena Mesea

Revista Economica, 2012, vol. Supplement, issue 4, 420-429

Abstract: This paper empirically analyzes the budgetary, macroeconomic and political determinants of Romania`s budget deficit. Using the OLS estimates for a data range from 1995 to 2011, we reached the conclusion that there are some negative influences of real GDP growth and inflation rate on budget deficit and also, that among these two determinants, the one period lagged budget deficit has a direct influence on budget deficit. For the analysed period, the interest rate (either real or nominal) and the electoral cycles as a political variable proved not to be statistically significant determinant variables for Romania`s budget deficit.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:blg:reveco:v:supplement:y:2012:i:4:p:420-429

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