Artikel

Arguments in the debate austerity versus growth in Romania

The fiscal policy response to the consequences of the financial and economic crisis consisted either in adopting expansionary policies to stimulate the aggregate demand, or in promoting fiscal consolidation programs designed to restore the sustainability of the public finances. This paper examines the options of the Romanian authorities regarding the fiscal policy decisions in the immediate aftermath of the crisis, and subsequently as the fiscal consolidation program initiated in 2010 has advanced. The paper concludes that the advantages and disadvantages of both approaches cannot be analyzed without taking into account the short-term constraints and the solution adopted by the policymakers, namely to realize the fiscal adjustment was inevitable.

Language
Englisch

Bibliographic citation
Journal: Romanian Journal of Fiscal Policy (RJFP) ; ISSN: 2069-0983 ; Volume: 6 ; Year: 2015 ; Issue: 1 ; Pages: 54-62 ; Bucharest: Editura ASE

Classification
Wirtschaft
Fiscal Policy
Crisis Management
National Budget, Deficit, and Debt: General
Subject
fiscal consolidation
economic growth
crisis management

Event
Geistige Schöpfung
(who)
Dumitrescu, Bogdan Andrei
Event
Veröffentlichung
(who)
Editura ASE
(where)
Bucharest
(when)
2015

Handle
Last update
10.03.2025, 11:42 AM CET

Data provider

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Object type

  • Artikel

Associated

  • Dumitrescu, Bogdan Andrei
  • Editura ASE

Time of origin

  • 2015

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