Arbeitspapier
The cyclical character of fiscal policy in transition countries
This study investigates the cyclical character of fiscal policy in transition countries in Central, Eastern and Southeastern Europe (CESEE) in the period from 1995 to 2011, using system GMM as the preferred estimation method for the underlying sample and model specification. The study finds discretionary policy in the CESEE EU Member States and in the Western Balkan countries to have been procyclical, thus aggravating economic fluctuations, whereas automatic stabilizers moved overall policy to an acyclical stance. In addition, the analysis indicates considerable differences in the cyclical character of fiscal policy between transition countries and the Western European EU Member States, where both overall fiscal policy and discretionary policy were acyclical. Finally, the study also offers several recommendations for policymakers, particularly in transition countries.
- Language
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Englisch
- Bibliographic citation
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Series: Working Paper ; No. [2016-03]
- Classification
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Wirtschaft
National Deficit; Surplus
Business Fluctuations; Cycles
Multiple or Simultaneous Equation Models: Panel Data Models; Spatio-temporal Models
- Subject
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fiscal policy
transition countries
European Union
system GMM
- Event
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Geistige Schöpfung
- (who)
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Kabashi, Rilind
- Event
-
Veröffentlichung
- (who)
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National Bank of the Republic of Macedonia
- (where)
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Skopje
- (when)
-
2016
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Kabashi, Rilind
- National Bank of the Republic of Macedonia
Time of origin
- 2016
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Fiscal Foundation of Convergence to European Union in Pre-Accession Transition Countries
Fiscal foundation of convergence to European Union in pre-accession transition countries
Fiscal Decentralisation and Regional Development in Transition Countries
Do EU Fiscal Rules Support or Hinder Counter-Cyclical Fiscal Policy?
Do EU fiscal rules support or hinder counter-cyclical fiscal policy?
Cyclical fiscal policy, output volatility, and economic growth
Cyclical adjustment in fiscal rules : some evidence on real-time bias for EU-15 countries
Cyclical adjustment in fiscal rules: Some evidence on real-time bias for EU-15 countries
Fiscal policy : cyclical budget balance versus fatal crowding out
On the cyclical behavior of fiscal policy in Egypt
Counter-cyclical fiscal rules and the zero lower bound
Investigating the Cyclical Behavior of Fiscal Policy in the Republic of Macedonia during the Period of Transition
Fiscal Foundation of Convergence to European Union in Pre-Accession Transition Countries