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Relative Efficiency Of Monetary And Fiscal Policies: The Case Of Romania

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  • Mert Topcu, Ayhan Kuloglu, Oana-Ramona Lobont

    (Faculty of Economics and Administrative Sciences, Department of Economics, Nevșehir University, Nevșehir-Turkey; Faculty of Economics and Business Administration, Timișoara, România)

Abstract

In this paper, it is investigated whether monetary or fiscal policy is more effective on real activity in Romanian economy over the period 2004:IV-2011:II. Empirical findings obtained from OLS and causality estimations support the existence of a strong relationship between fiscal policy instruments and real economic activity. Besides, there exists no correlation between EU membership of Romania and their economic performance. Findings alsa indicate 2008 financial crisis effects Romanian economy in a highly negative way. Hence, it can be concluded thet fiscal policy is more effective rather than monetary policy in both short and relatively long run in Romania.

Suggested Citation

  • Mert Topcu, Ayhan Kuloglu, Oana-Ramona Lobont, 2012. "Relative Efficiency Of Monetary And Fiscal Policies: The Case Of Romania," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 47-51, March.
    • Handle: RePEc:cbu:jrnlec:y:2012:v:1:p:47-51
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    Cited by:

    1. Khalid KHAN & Chi-Wei SU & Nicoleta - Claudia MOLDOVAN & De-Ping XIONG, 2017. "Distinctive Characteristics of the Causality between the PPI and CPI: Evidence from Romania," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, vol. 51(2), pages 103-123.

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