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Is there any effect of economic growth and human development on fiscal policy implementation?Abstract: The paper's scope is to study the effect of socio-economic structures on fiscal policy implementation in the 28 European Union Member States between 2007 and 2017. Fiscal policy was defined by considering Government Revenue (GREV) and Government Expenditure (GEXP) as a percentage of Gross Domestic Product collected from the Eurostat database and referred to the general government. To determine the socio-economic structures, human development and economic growth were chosen. The following instruments were applied to describe these two indicators: Human Development Index (HDI) to describe human development and were collected from the United Nations Development Programme, and the Gross Domestic Product growth rate (GDPgr) collected from the World Bank to explain economic growth. The methodology applied to test the stationarity of the data is the Unit Root Test and the Ordinary Least Squares method to reflect the impact of economic growth and human development on fiscal policy. The results reveal that human development and economic growth play an essential role in implementing fiscal policy

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  • Alina Ioana CALINOVICI

    (West University of Timisoara, Timisoara, Romania, Doctoral School of Economics and Business Administration)

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  • Alina Ioana CALINOVICI, 2021. "Is there any effect of economic growth and human development on fiscal policy implementation?Abstract: The paper's scope is to study the effect of socio-economic structures on fiscal policy implementa," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(23), pages 173-180, November.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2021:i:23:p:173-18
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    References listed on IDEAS

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    1. Syed Ammad Ali & Hasan Raza & Muhammad Umair Yousuf, 2012. "The Role of Fiscal Policy in Human Development: The Pakistan’s Perspective," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 51(4), pages 381-396.
    2. Benos, Nikos, 2009. "Fiscal policy and economic growth: empirical evidence from EU countries," MPRA Paper 19174, University Library of Munich, Germany.
    3. Sangaran Vijesandiran & Priyatharsiny Selvarasa, 2018. "Effects Of Fiscal Policy On Human Development In Sri Lanka: An Empirical Analysis," Journal of Smart Economic Growth, , vol. 3(3), pages 1-36, December.
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    More about this item

    Keywords

    government revenue; government expenditure; policy; EU Countries.;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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