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Influence of Fiscal Policies and Labor Market Characteristics on Sustainable Social Insurance Budgets—Empirical Evidence from Central and Eastern European Countries

Adriana Florina Popa (), Stefania Amalia Jimon (), Delia David () and Daniela Nicoleta Sahlian ()
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Adriana Florina Popa: Department of Accounting and Audit, Bucharest University of Economic Studies, 010374 Bucharest, Romania
Stefania Amalia Jimon: Department of Economic and Technical Sciences, Faculty of Economics, Computer Science and Engineering, “Vasile Goldiș” Western University of Arad, 310045 Arad, Romania
Delia David: Department of Economic and Technical Sciences, Faculty of Economics, Computer Science and Engineering, “Vasile Goldiș” Western University of Arad, 310045 Arad, Romania
Daniela Nicoleta Sahlian: Department of Accounting and Audit, Bucharest University of Economic Studies, 010374 Bucharest, Romania

Sustainability, 2021, vol. 13, issue 11, 1-14

Abstract: Social protection systems are a key factor for ensuring the long-term sustainability and stability of economies in the European Union, their reform being nowadays present in the political agenda of member states. Aging and the dependence on mandatory levies applied to the employed population on the labor market represent a threat for the sustainability of public social protection systems. In terms of sustainability, our purpose was to highlight the factors influencing social insurance budgets, considering the fiscal policies implemented in six countries of Central and Eastern Europe and their particular labor market characteristics. Therefore, a panel study based on a regression model using the Ordinary Least Squares method (OLS) with cross section random effects was used to determine the correlations between funding sources and labor market specific indicators. The data analyzed led to relevant results that emphasize the dependence of social insurance budgets on positive factors such as the average level of salaries, the share of compulsory social contributions, the unemployment rate, and the human development index, suggesting the continuing need for professional and personal development of the workforce.

Keywords: fiscal policies; social insurance budgets; sustainability; demographic transition; labor market; Central and Eastern Europe (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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