Fiscal Sustainability in Selected Transition Countries
AbstractIn the article, we review recent literature on fiscal sustainability with particular reference to problems that are specific to transition countries. While the original literature on fiscal sustainability is chiefly focused on industrial countries there are by now few works that have focused on fiscal sustainability in transition countries. Consequently, the article’s purpose is to assess the short-, medium- and long-term sustainability of fiscal policy (under set assumptions) on the national level in the great majority of transition countries which we divide into three main groups, i.e. Central and Eastern Europe (CEE), Southern and Eastern Europe (SEE) and the Commonwealth of Independent States (CIS). Based on simple mainstream theory measures of fiscal sustainability, the results indicate that fiscal sustainability seems to be a problem in many transition countries, particularly in CEE (e.g. Czech Republic, Hungary, and Poland) and the SEE region (e.g. Albania and Croatia).
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 122.
Date of creation: Jan 2007
Date of revision:
Publication status: Published in Journal of Economics 7.55(2007): pp. 659-675
transition; public sector; fiscal policy; sustainability; forecasting;
Find related papers by JEL classification:
- E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
- H00 - Public Economics - - General - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-01-14 (All new papers)
- NEP-FOR-2007-01-14 (Forecasting)
- NEP-PBE-2007-01-14 (Public Economics)
- NEP-TRA-2007-01-14 (Transition Economics)
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- Aristovnik, Aleksander & Djurić, Sandra, 2010. "Twin deficits and the Feldstein-Horioka puzzle: a comparison of the EU member states and candidate countries," MPRA Paper 24149, University Library of Munich, Germany.
- Aristovnik, Aleksander, 2008. "How sustainable are fiscal deficits? Evidence from Mediterranean countries," MPRA Paper 12317, University Library of Munich, Germany.
- Reitschuler, Gerhard, 2008. "Assessing Ricardian equivalence for the New Member States: Does debt-neutrality matter?," Economic Systems, Elsevier, vol. 32(2), pages 119-128, June.
- Aristovnik, Aleksander, 2008. "Fiscal Sustainability In The Mediterranean Region – A Comparison Between The Eu And Non-Eu Member States," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(4), pages 161-173, December.
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