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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/4692

Title: Determinants of fiscal budget volatility in old versus new EU member states
Authors: Mara, Eugenia-Ramona
Keywords: Budget deficit
Fiscal policy
Economic growth
Issue Date: 2012
Publisher: ISEG - Departamento de Economia
Citation: Mara, Eugenia-Ramona. 2012. "Determinants of fiscal budget volatility in old versus new EU member states". Instituto Superior de Economia e Gestão - DE working papers nº 31-2012/DE/UECE
Series/Report no.: DE working papers;31-2012/DE/UECE
Abstract: In this study we perform an analysis of the volatility of the budget deficit for EU countries. We address this issue starting from the new requirements of fiscal discipline imposed by the Treaty on Stability, Coordination and Governance adopted by 25 European Union member states and taking into account the economic crisis impact. The major purpose of this study is to identify the most significant determinants of budget deficit volatility in a comparative study for old EU member states and New Member States (NMS). This study aims to test the impact of macroeconomic variables such as public expenditures, economic growth rate, and unemployment on the budget balance volatility, based on panel data. The final purpose of the article is to reveal the strategies to stop the immense increase in fiscal deficits and to regain fiscal stability to fulfil the new rules of fiscal governance. We anticipate that the implementation of this new fiscal discipline requires a more efficient public sector for both old and NMS and a reconsideration of state intervention in the economy.
URI: http://hdl.handle.net/10400.5/4692
ISSN: 0874-4548
Publisher version: https://aquila.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=298912&contentContextPath_PATH=/departamentos/ec/lateral/menu-working-papers/nova-serie/2012&_request_checksum_=b3f27495d73eeb20fe4fe861890cfdf5549991a1
Appears in Collections:DE - Documentos de trabalho / Working Papers

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