Effects of fiscal consolidation in Western Balkan Countries
| Autor: | Dragan Gligorić, Milenko Krajišnik, Biljana Gojković |
|---|---|
| Jazyk: | němčina |
| Rok vydání: | 2019 |
| Předmět: |
Economics and Econometrics
Economic policy budget deficit media_common.quotation_subject lcsh:Economic theory. Demography Recession Fiscal policy gdp lcsh:HB1-3840 fiscal consolidation Consolidation (business) Deficit spending Panel analysis Debt Unemployment Economics Revenue Business and International Management Finance media_common |
| Zdroj: | Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu, Vol 37, Iss 2, Pp 527-551 (2019) |
| ISSN: | 1846-7520 1331-8004 |
| Popis: | The global economic crisis has not spared the countries of the Western Balkans. The ensuing recession, characterized by a decline in economic activity, a decline in consumption and an increase in unemployment, went hand in hand with drops in public revenues. This in turn resulted in budget imbalances that manifested in structural budget deficits and higher public debt. Fiscal consolidation was deemed necessary across the board. In this process, certain fiscal policy elements varied among countries. The structure of public revenues and public expenditures changed. The question is whether the fiscal consolidation was successful and to what extent. Dynamic panel analysis using PMG estimator in six Western Balkan Countries for the period 2004-2016 has shown that fiscal consolidation has positive impact on economic growth in this region. So, Western Balkan Countries have to conduct responsible public finances in order to encourage economic growth. |
| Databáze: | OpenAIRE |
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