Assessing the Sustainability of Public Finances in Romania
AbstractThis paper proposes a simple method to assess the sustainability of public finances in Romania, which uses the twin deficits concept. We conclude that the sustainability of the country has been seriously affected by the recent crisis, but to a larger extent by the inappropriate design of economic policies in the past years. Budget deficits have been recorded even in times of high economic growth, while foreign debt has accumulated at an unjustifiable increasing speed.
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Bibliographic InfoArticle provided by Institute for Economic Forecasting in its journal Romanian Journal for Economic Forecasting.
Volume (Year): (2011)
Issue (Month): 2 (June)
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More information through EDIRC
sustainability; public finances; budget deficit;
Find related papers by JEL classification:
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- F34 - International Economics - - International Finance - - - International Lending and Debt Problems
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
- H74 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Borrowing
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Vito Polito & Mike Wickens, 2005.
" Measuring Fiscal Sustainability,"
CDMA Conference Paper Series
0503, Centre for Dynamic Macroeconomic Analysis.
- Maximiano Pinheiro & Vanda Geraldes da Cunha, 2007. "MISS: A model for assessing the sustainability of public social security in Portugal," Working Papers o200703, Banco de Portugal, Economics and Research Department.
- Jorge A. Chan-Lau & Andre Santos, 2010. "Public Debt Sustainability and Management in a Compound Option Framework," IMF Working Papers 10/2, International Monetary Fund.
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