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The tax–spending nexus: evidence from Romania using wavelet analysis

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  • Mihai Mutascu

Abstract

This article investigates the relationship between government revenue and expenditure in Romania between 1991 and 2015 using the wavelet approach. The article presents detailed information for different sub-periods and frequencies, emphasising the lead–lag nexus between variables under cyclical and anti-cyclical shocks. The main findings show that using individual taxation techniques under structural reforms should control short-term budget deficits. Separately, when an economic crisis arises, expenditure adjustment is a more appropriate fiscal instrument. In the medium and long term, the taxation system for individuals is recommended to be used to control for budgetary deficits during crisis. At the same time, in the medium term, government expenditures also represent a suitable policy choice.

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  • Mihai Mutascu, 2017. "The tax–spending nexus: evidence from Romania using wavelet analysis," Post-Communist Economies, Taylor & Francis Journals, vol. 29(3), pages 431-447, July.
    • Handle: RePEc:taf:pocoec:v:29:y:2017:i:3:p:431-447
    DOI: 10.1080/14631377.2017.1319170
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