Fiscal Policy In European Union Countries – A Comparative Analysis Of Adjustment And Expansions Fiscal Policy Episodes

Iulian Viorel Brașoveanu and Laura Obreja Brasoveanu ()
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Iulian Viorel Brașoveanu: Bucharest University of Economic Studies, Romania
Authors registered in the RePEc Author Service: Iulian Viorel Brasoveanu ()

Journal of Knowledge Management, Economics and Information Technology, 2012, vol. 2, issue 3, 3

Abstract: Current financial and economical context brings new challenges for most of the countries - the decrease of public revenues and the incapacity to adjust the public expenditures. This article aims to identify the applied strategies for large discretionary fiscal changes - fiscal adjustments and fiscal expansions for the period 1996-2011 in European Union countries - through changes in public revenues or public expenditures, and the effects on the economic growth process. Using data for fiscal adjustments (improve more than 1.5 percentage points of the budget balance) and for fiscal expansions (deterioration more than 1.5 percentage points of the budget balance), there are analysed the strategies and the consequences for reducing/increasing the deficit.

Keywords: fiscal policy; fiscal adjustment; fiscal expansions; public revenues; public expenditures (search for similar items in EconPapers)
JEL-codes: H20 H30 H50 H62 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:spp:jkmeit:1302

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