Fiscal Consolidations in the Central and Eastern European Countries

Antonio Afonso, Christiane Nickel () and Philipp Rother

No 2005/03, Working Papers Department of Economics from ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa

Abstract: We study fiscal consolidations in the Central and Eastern European countries and what determines the probability of their success. We define consolidation events as substantive improvements in fiscal balances adjusting for the impact of cyclical effects. We use Logit models for the period 1991–2003 to assess the determinants of the success of a fiscal adjustment. The results seem to suggest that for these countries expenditure based consolidations have tended to be more successful. By contrast, revenue based consolidations have a tendency to be less successful.

Keywords: fiscal policy; fiscal episodes; Central and Eastern Europe; Logit models. (search for similar items in EconPapers)
JEL-codes: C25 E62 H62 (search for similar items in EconPapers)
Date: 2005
New Economics Papers: this item is included in nep-mac and nep-tra
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Citations: View citations in EconPapers (14)

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Related works:
Journal Article: Fiscal Consolidations in the Central and Eastern European Countries (2006)
Working Paper: Fiscal consolidations in the Central and Eastern European countries (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:ise:isegwp:wp32005

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