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Effects of Discretionary Fiscal Policy in Romania

Author

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  • Marinaº Marius-Corneliu

    (Bucharest University of Economic Studies, Department of Economics)

Abstract

The objective of this study is to explain the vicious circle in which the fiscal policy makers from Romania are as a result of the discretionary measures taken during the period previous to the economic crisis. The expansionary fiscal measures adopted by 2008 had exhausted the fiscal space for maneuver for economic recovery, and the direction of the fiscal policy was radically transformed. Since 2009, the main objective of the fiscal policy has not been the stimulation of the economic growth, but the consolidation of the public finances, which had been deteriorated during the economic expansion period. In this context, the fiscal policy promoted in Romania was procyclical, contrary to the theoretical tasks to stabilize economy.

Suggested Citation

  • Marinaº Marius-Corneliu, 2014. "Effects of Discretionary Fiscal Policy in Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 38-42, May.
  • Handle: RePEc:ovi:oviste:v:xiv:y:2014:i:1:p:38-42
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    More about this item

    Keywords

    structural budgetary balance; fiscal policy stance; automatic stabilizers; fiscal consolidation.;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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