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Romania'S Fiscal Policy During The Current Crisis: Present And Future Prospects

Author

Listed:
  • Cristina Aurora Bunea-Bontaş

    (Constantin Brancoveanu University, Piteşti)

  • Mariana Mihăilescu

    (Constantin Brancoveanu University, Piteşti)

  • Cosmina Mihaela Petre

    (Constantin Brancoveanu University, Piteşti)

Abstract

Fiscal policy is an important government tool for managing the economy, its instruments having impact on aggregate demand, resource allocation, and income distribution. This article is focused on the Romanian fiscal policy during the global crisis, providing an overview regarding the circumstances that lead to fiscal imbalances and analysing the fiscal response to the current crisis. The conclusion is that Romania has conducted an inconsistent and ineffective fiscal policy, contributing to macroeconomic imbalances and to increasing fiscal pressure on business environment. Therefore, a mediumterm fiscal framework has to be implemented, in order to ensure fiscal sustainability.

Suggested Citation

  • Cristina Aurora Bunea-Bontaş & Mariana Mihăilescu & Cosmina Mihaela Petre, 2009. "Romania'S Fiscal Policy During The Current Crisis: Present And Future Prospects," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 12(12(541)(s), pages 207-214, December.
    • Handle: RePEc:agr:journl:v:12(541)(supplement):y:2009:i:12(541)(supplement):p:207-214
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    File URL: http://www.ectap.ro/documente/suplimente/Finantele%20si%20stabilitatea%20economica_Finante_en2010.pdf
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    Cited by:

    1. Daly, Hounaida & Smida, Mounir, 2014. "Fiscal Theory of Price Level," MPRA Paper 60142, University Library of Munich, Germany.

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