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Econometric model Concerning The Impact Of The Fiscal Policy Upon The Economic Development. The Case Of The Countries From Central And Eastern Europe, Members Of The European Union

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Author Info

  • Mihaela Bebeşelea

    ()
    (Spiru Haret University, no. 32-34, Unirii Street, Constanta, Romania)

  • Paula Cornelia Mitran

    ()
    (Spiru Haret University, no. 32-34, Unirii Street, Constanta, Romania)

  • Octavian Neguriţă

    ()
    (Spiru Haret University, no. 32-34, Unirii Street, Constanta, Romania)

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    Abstract

    This article aims to demonstrate the confirmation or the refutation of the hypothesis that there is a connection between fiscal policy and economic development. The study begins with an overview of the main theoretical contributions. A few indicators that give the measure of the economic development are analysed for the sample of the Central and South Eastern European countries, members of the EU. The empirical analysis seeks to establish the relevance of the main determinants of the economic development (GDP per capita) and the three levers of the fiscal policy (fiscal pressure, the share of public expenditure in GDP and budgetary balance in the share of GDP), for each country, of the sample of the 12 countries of Central and South Eastern Europe, the new members of the European Union, during 2001-2010.

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    File URL: http://www.scientificpapers.org/download/160/
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    Bibliographic Info

    Article provided by ScientificPapers.org in its journal Journal of Knowledge Management, Economics and Information Technology.

    Volume (Year): 2 (2012)
    Issue (Month): 3 (June)
    Pages: 12

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    Handle: RePEc:spp:jkmeit:1282

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    Web page: http://www.scientificpapers.org

    Related research

    Keywords: economic development; economic growth; fiscal policy; panel data; EU;

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    1. Ondrej Schneider & Jan Zápal, 2005. "Fiscal Policy in New EU Member States – Go East, Prudent Man!," CESifo Working Paper Series 1486, CESifo Group Munich.
    2. Barro, Robert J, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 407-43, May.
    3. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
    4. Giuseppe Arbia & Gianfranco Piras, 2005. "Convergence in per-capita GDP across European regions using panel data models extended to spatial autocorrelation effects," ISAE Working Papers 51, ISTAT - Italian National Institute of Statistics - (Rome, ITALY).
    5. Eric M. Engen & Jonathan Skinner, 1992. "Fiscal Policy and Economic Growth," NBER Working Papers 4223, National Bureau of Economic Research, Inc.
    6. Aschauer, David Alan, 1989. "Is public expenditure productive?," Journal of Monetary Economics, Elsevier, vol. 23(2), pages 177-200, March.
    7. N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
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