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Evaluation Of The Fiscal-Budgetary Policy Sustainability In Romania

Author

Listed:
  • Padurean, Elena

    (Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy)

  • Leonida, Ionel

    (Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy)

  • Baltaretu, Camelia

    (Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy)

Abstract

The study aims to systematize the results presented in the literature on fiscal stability, and fiscal sustainability issue. Based on these results, the authors determined a number of relevant indicators for the quality of public finances, for Romania: a) fiscal stance, b) fiscal impulse, c) sustainable tax rate, d) sustainable rate of budgetary expenditure; e) gap of sustainable tax; f) gap of sustainable budgetary spending. These indicators are then analyzed for their significance in terms of fiscal sustainability in Romania, during 2001-2009.

Suggested Citation

  • Padurean, Elena & Leonida, Ionel & Baltaretu, Camelia, 2010. "Evaluation Of The Fiscal-Budgetary Policy Sustainability In Romania," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 14(4), pages 126-139.
    • Handle: RePEc:vls:finstu:v:14:y:2010:i:4:p:126-139
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    References listed on IDEAS

    as
    1. Marí­n, José M., 2002. "Sustainability of public finances and automatic stabilisation under a rule of budgetary discipline," Working Paper Series 193, European Central Bank.
    2. Richard Morris & Hedwig Ongena & Ludger Schuknecht, 2006. "The reform and implementation of the Stability and Growth Pact," Occasional Paper Series 47, European Central Bank.
    3. Eschenbach, Felix & Schuknecht, Ludger, 2002. "The fiscal costs of financial instability revisited," Working Paper Series 191, European Central Bank.
    4. Giammarioli, Nicola & Nickel, Christiane & Rother, Philipp & Vidal, Jean-Pierre, 2007. "Assessing fiscal soundness: theory and practice," Occasional Paper Series 56, European Central Bank.
    5. Schuknecht, Ludger & Morris, Richard & Ongena, Hedwig, 2006. "The reform and implementation of the Stability and Growth Pact," Occasional Paper Series 47, European Central Bank.
    6. Detken, Carsten, 1999. "Fiscal policy effectiveness and neutrality results in a non-Ricardian world," Working Paper Series 3, European Central Bank.
    7. Nicola Giammarioli & Christiane Nickel & Philipp Rother & Jean-Pierre Vidal, 2007. "Assessing fiscal soundness - Theory and practice," Occasional Paper Series 56, European Central Bank.
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    More about this item

    Keywords

    sustainability; structural deficit; fiscal stance; fiscal impulse;
    All these keywords.

    JEL classification:

    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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