The Effectiveness of Fiscal-Budgetary Measures to Counteract the COVID-19 Crisis. Evidence from EU Countries
The aim of this study is to analyse the fiscal-budgetary measures, which have been taken by almost all governments around the world, including EU countries, in an attempt to limit the negative impact of the pandemic blockade. In most cases, these measures concerned the granting of technical unemploy...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
De Gruyter
2022-04-01
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| Series: | Economics: Journal Articles |
| Subjects: | |
| Online Access: | https://doi.org/10.1515/econ-2022-0024 |
| _version_ | 1797947751981383680 |
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| author | Dornean Adina Oanea Dumitru-Cristian |
| author_facet | Dornean Adina Oanea Dumitru-Cristian |
| author_sort | Dornean Adina |
| collection | DOAJ |
| description | The aim of this study is to analyse the fiscal-budgetary measures, which have been taken by almost all governments around the world, including EU countries, in an attempt to limit the negative impact of the pandemic blockade. In most cases, these measures concerned the granting of technical unemployment, the postponement of tax payments, and the suspension or postponement of loan instalments or their maturity. The present study focuses especially on tax and expenditure measures that EU countries have introduced in response to the COVID-19 crisis. With this purpose, a paired sample t-test and multiple linear regression are used based on balanced panel data for the 27 EU countries for the period 2000Q1–2020Q3. The obtained results show that COVID-19 crisis had a significant negative impact on GDP growth. At the same time, a significant increase in public debt and government deficit occurred due to COVID-19 crisis. However, resuming the findings, the intensity, and implicitly, the effect of these measures depends on the specifics of each economy. |
| first_indexed | 2024-04-10T21:32:39Z |
| format | Article |
| id | doaj.art-68c4dcf815064160a81c89651f4141f7 |
| institution | Directory Open Access Journal |
| issn | 1864-6042 |
| language | English |
| last_indexed | 2024-04-10T21:32:39Z |
| publishDate | 2022-04-01 |
| publisher | De Gruyter |
| record_format | Article |
| series | Economics: Journal Articles |
| spelling | doaj.art-68c4dcf815064160a81c89651f4141f72023-01-19T13:20:27ZengDe GruyterEconomics: Journal Articles1864-60422022-04-0116113715110.1515/econ-2022-0024The Effectiveness of Fiscal-Budgetary Measures to Counteract the COVID-19 Crisis. Evidence from EU CountriesDornean Adina0Oanea Dumitru-Cristian1Department of Finance, Money and Public Administration, “Alexandru Ioan Cuza” University of Iași, Iași, RomaniaDepartment of Money and Banking, The Bucharest University of Economic Studies, Bucharest, RomaniaThe aim of this study is to analyse the fiscal-budgetary measures, which have been taken by almost all governments around the world, including EU countries, in an attempt to limit the negative impact of the pandemic blockade. In most cases, these measures concerned the granting of technical unemployment, the postponement of tax payments, and the suspension or postponement of loan instalments or their maturity. The present study focuses especially on tax and expenditure measures that EU countries have introduced in response to the COVID-19 crisis. With this purpose, a paired sample t-test and multiple linear regression are used based on balanced panel data for the 27 EU countries for the period 2000Q1–2020Q3. The obtained results show that COVID-19 crisis had a significant negative impact on GDP growth. At the same time, a significant increase in public debt and government deficit occurred due to COVID-19 crisis. However, resuming the findings, the intensity, and implicitly, the effect of these measures depends on the specifics of each economy.https://doi.org/10.1515/econ-2022-0024covid-19 crisisexpenditure measurestax measuresc33e62h25o11o52 |
| spellingShingle | Dornean Adina Oanea Dumitru-Cristian The Effectiveness of Fiscal-Budgetary Measures to Counteract the COVID-19 Crisis. Evidence from EU Countries Economics: Journal Articles covid-19 crisis expenditure measures tax measures c33 e62 h25 o11 o52 |
| title | The Effectiveness of Fiscal-Budgetary Measures to Counteract the COVID-19 Crisis. Evidence from EU Countries |
| title_full | The Effectiveness of Fiscal-Budgetary Measures to Counteract the COVID-19 Crisis. Evidence from EU Countries |
| title_fullStr | The Effectiveness of Fiscal-Budgetary Measures to Counteract the COVID-19 Crisis. Evidence from EU Countries |
| title_full_unstemmed | The Effectiveness of Fiscal-Budgetary Measures to Counteract the COVID-19 Crisis. Evidence from EU Countries |
| title_short | The Effectiveness of Fiscal-Budgetary Measures to Counteract the COVID-19 Crisis. Evidence from EU Countries |
| title_sort | effectiveness of fiscal budgetary measures to counteract the covid 19 crisis evidence from eu countries |
| topic | covid-19 crisis expenditure measures tax measures c33 e62 h25 o11 o52 |
| url | https://doi.org/10.1515/econ-2022-0024 |
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