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Influența deficitului bugetar asupra dezvoltării economice a României
[The impact of budget deficit on the economic development of Romania]

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  • Mesea, Oana Elena
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    Abstract

    This paper empirically analyzes the impact of budget deficit on the economic development of Romania. Using the OLS estimates for quarterly series for the period from 2001 to 2011, the results of the estimates prove that there is an indirect relationship between budget deficit and economic growth of Romania. According to the best statistically significant model from the three different model tested, we reached the result that one percent rise of budget deficit gives a 1.36 percent fall in real GDP. This result sustains the neoclassical hypothesis and is against the Keynesist hypothesis or the Ricardian equivalence.

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    File URL: http://mpra.ub.uni-muenchen.de/40476/
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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 40476.

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    Date of creation: 04 Aug 2012
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    Handle: RePEc:pra:mprapa:40476

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    Keywords: budget deficit; economic growth; fiscal policy; Romania;

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    1. Comaniciu, Carmen, 2006. "Considerations regarding the Romanian fiscal and budgetary reform in accordance with the E.U. requirements," MPRA Paper 3430, University Library of Munich, Germany.
    2. Lutkepohl, Helmut, 1982. "Non-causality due to omitted variables," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 367-378, August.
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