Effects of Discretionary Fiscal Policy in Romania

Marinaº Marius-Corneliu ()
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Marinaº Marius-Corneliu: Bucharest University of Economic Studies, Department of Economics

Ovidius University Annals, Economic Sciences Series, 2014, vol. XIV, issue 1, 38-42

Abstract: The objective of this study is to explain the vicious circle in which the fiscal policy makers from Romania are as a result of the discretionary measures taken during the period previous to the economic crisis. The expansionary fiscal measures adopted by 2008 had exhausted the fiscal space for maneuver for economic recovery, and the direction of the fiscal policy was radically transformed. Since 2009, the main objective of the fiscal policy has not been the stimulation of the economic growth, but the consolidation of the public finances, which had been deteriorated during the economic expansion period. In this context, the fiscal policy promoted in Romania was procyclical, contrary to the theoretical tasks to stabilize economy.

Keywords: structural budgetary balance; fiscal policy stance; automatic stabilizers; fiscal consolidation. (search for similar items in EconPapers)
JEL-codes: E62 F36 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xiv:y:2014:i:1:p:38-42

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