SUSTAINABILITY IN FISCAL POLICY IN BOOM AND RECESSION-THE CASE OF ROMANIA

Mihaela Göndör ()

European Journal of Accounting, Finance & Business, 2013, vol. 1, issue 2, 61-80

Abstract: This paper examines the interrelated aspects of the recent economic and fiscal crisis – such as the GDP growth, budgetary deficit and public debt, fiscal policy and austerity measures in Romania by comparing the different effects caused by different fiscal policies within a boom period and a downturn period. The paper reveals that the boom period is characterized by tax rate cuts and rising of expenditures and the downturn period, by the increasing of fiscal burden and sharply reducing the government spending. In this perspective, the aim of this paper is to provide some empirical basis for the argument that pro-cyclical fiscal policy does not assist in dampening the GDP shocks.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:scm:ejafbu:v:1:y:2013:i:2:p:61-80

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