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Fiscal Sustainability in Selected Transition Countries


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  • Aristovnik, Aleksander
  • Berčič, Boštjan


In 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 Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 122.

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Date of creation: Jan 2007
Date of revision:
Publication status: Published in Journal of Economics 7.55(2007): pp. 659-675
Handle: RePEc:pra:mprapa:122

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Keywords: transition; public sector; fiscal policy; sustainability; forecasting;

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Cited by:
  1. 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.
  2. Aristovnik, Aleksander, 2008. "How sustainable are fiscal deficits? Evidence from Mediterranean countries," MPRA Paper 12317, University Library of Munich, Germany.
  3. 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.
  4. 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.


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