Assessing the Sustainability of Public Finances in Romania

Constantin Zaman ()
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Constantin Zaman: CASE (Centre for Social and Economic Analyses) Warsaw and CES (Centre d’Economie de la Sorbonne) Paris

Journal for Economic Forecasting, 2011, issue 2, 106-115

Abstract: This paper proposes a simple method to assess the sustainability of public finances in Romania, which uses the twin deficits concept. We conclude that the sustainability of the country has been seriously affected by the recent crisis, but to a larger extent by the inappropriate design of economic policies in the past years. Budget deficits have been recorded even in times of high economic growth, while foreign debt has accumulated at an unjustifiable increasing speed.

Keywords: sustainability; public finances; budget deficit (search for similar items in EconPapers)
JEL-codes: E62 F34 H63 H74 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:rjr:romjef:v::y:2011:i:2:p:106-115

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