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Econometric model Concerning The Impact Of The Fiscal Policy Upon The Economic Development. The Case Of The Countries From Central And Eastern Europe, Members Of The European Union

Author

Listed:
  • Mihaela Bebeşelea

    () (Spiru Haret University, no. 32-34, Unirii Street, Constanta, Romania)

  • Paula Cornelia Mitran

    () (Spiru Haret University, no. 32-34, Unirii Street, Constanta, Romania)

  • Octavian Neguriţă

    () (Spiru Haret University, no. 32-34, Unirii Street, Constanta, Romania)

Abstract

This article aims to demonstrate the confirmation or the refutation of the hypothesis that there is a connection between fiscal policy and economic development. The study begins with an overview of the main theoretical contributions. A few indicators that give the measure of the economic development are analysed for the sample of the Central and South Eastern European countries, members of the EU. The empirical analysis seeks to establish the relevance of the main determinants of the economic development (GDP per capita) and the three levers of the fiscal policy (fiscal pressure, the share of public expenditure in GDP and budgetary balance in the share of GDP), for each country, of the sample of the 12 countries of Central and South Eastern Europe, the new members of the European Union, during 2001-2010.

Suggested Citation

  • Mihaela Bebeşelea & Paula Cornelia Mitran & Octavian Neguriţă, 2012. "Econometric model Concerning The Impact Of The Fiscal Policy Upon The Economic Development. The Case Of The Countries From Central And Eastern Europe, Members Of The European Union," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 2(3), pages 1-12, June.
  • Handle: RePEc:spp:jkmeit:1282
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    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Eric M. Engen & Jonathan Skinner, 1992. "Fiscal Policy and Economic Growth," NBER Working Papers 4223, National Bureau of Economic Research, Inc.
    3. Aschauer, David Alan, 1989. "Is public expenditure productive?," Journal of Monetary Economics, Elsevier, vol. 23(2), pages 177-200, March.
    4. Ondrej Schneider & Jan Zapal, 2006. "Fiscal Policy in New EU Member States: Go East, Prudent Man!," Post-Communist Economies, Taylor & Francis Journals, vol. 18(2), pages 139-166.
    5. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 70(1), pages 65-94.
    6. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 407-443.
    7. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
    8. Manmohan S. Kumar & Dennis P Botman, 2006. "Fundamental Determinants of the Effects of Fiscal Policy," IMF Working Papers 06/72, International Monetary Fund.
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    More about this item

    Keywords

    economic development; economic growth; fiscal policy; panel data; EU;

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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