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Economic Crises Deepen Country Budget Deficits and Deficits Deepen Economic Crises

Author

Listed:
  • Göndör Mihaela
  • Munteanu Anca

    (Petru Maior University, Târgu Mures)

Abstract

In this paper we wish to point out that some measures taken by the government to reduce budget deficits in times of economic crisis have the opposite effect, i.e. widening budget deficit. In Romania’s case the measures are focused on increased taxation and reducing public spending instead of stimulating business environment in order to increase GDP. Most time even this increase in taxation and these spending reductions generates revenues reductions, thus deepen the deficit.

Suggested Citation

  • Göndör Mihaela & Munteanu Anca, 2010. "Economic Crises Deepen Country Budget Deficits and Deficits Deepen Economic Crises," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1614-1618, May.
    • Handle: RePEc:ovi:oviste:v:10:y:2010:i:1:p:1614-1618
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    File URL: http://stec.univ-ovidius.ro/html/anale/RO/cuprins%20rezumate/rezumatemai2010.pdf
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    More about this item

    Keywords

    budget deficits; economic crisis; increased taxation; spending reductions.;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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