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The Government Deficit Management In Greece, Bulgaria And Romania

Author

Listed:
  • Maria Letiția Andronic (Brătulescu)

    (Transilvania University of Brașov , Faculty of Economic Sciences and Business Administration, Brașov, Romania)

Abstract

This paper studies the factors which lead to budget imbalance and the impact of public deficit, public debt and gross fixed capital formation on economic growth for three Eastern Europe countries, using a data set from 1997 until 2020. A special focus is set on both the relationship between growth and the public deficit and on the fiscal behavior Greece, Bulgaria and Romania adopted to face the challenges brought about by the crisis started in 2009 and the pandemics from 2020. The outcome reveals a positive strong correlation between the deficit and economic growth only in the case of Bulgaria, while for the other two countries, whose deficit was much higher during the whole period of time, the impact is not that significant. Nevertheless, the government consolidated gross debt and the gross fixed capital formation proved to be relevant factors of influence for economic growth in all three cases.

Suggested Citation

  • Maria Letiția Andronic (Brătulescu), 2022. "The Government Deficit Management In Greece, Bulgaria And Romania," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(50), pages 76-88, April.
    • Handle: RePEc:aio:aucsse:v:1:y:2022:i:50:p:76-88
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    More about this item

    Keywords

    government deficit; national budget; public expenditures; public revenues; public policies; public debt; financial crisis; COVID-19 pandemics;
    All these keywords.

    JEL classification:

    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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