Effects of fiscal consolidation in Western Balkan Countries
The global economic crisis has not spared the countries of the Western Balkans. The ensuing recession, characterized by a decline in economic activity, a decline in consumption and an increase in unemployment, went hand in hand with drops in public revenues. This in turn resulted in budget imbalance...
| Main Authors: | , , |
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| Format: | Article |
| Language: | deu |
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Faculty of Economics University of Rijeka
2019-12-01
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| Series: | Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu |
| Subjects: | |
| Online Access: | https://www.efri.uniri.hr/upload/ZBORNIK%202_2019/19-Krajisnik-2019-2.pdf |
| _version_ | 1811319970375663616 |
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| author | Milenko Krajišnik Dragan Gligorić Biljana Gojković |
| author_facet | Milenko Krajišnik Dragan Gligorić Biljana Gojković |
| author_sort | Milenko Krajišnik |
| collection | DOAJ |
| description | The global economic crisis has not spared the countries of the Western Balkans. The ensuing recession, characterized by a decline in economic activity, a decline in consumption and an increase in unemployment, went hand in hand with drops in public revenues. This in turn resulted in budget imbalances that manifested in structural budget deficits and higher public debt. Fiscal consolidation was deemed necessary across the board. In this process, certain fiscal policy elements varied among countries. The structure of public revenues and public expenditures changed. The question is whether the fiscal consolidation was successful and to what extent. Dynamic panel analysis using PMG estimator in six Western Balkan Countries for the period 2004-2016 has shown that fiscal consolidation has positive impact on economic growth in this region. So, Western Balkan Countries have to conduct responsible public finances in order to encourage economic growth. |
| first_indexed | 2024-04-13T12:52:22Z |
| format | Article |
| id | doaj.art-bfcdb3c84a9a42d4a393db1d2d0d700d |
| institution | Directory Open Access Journal |
| issn | 1331-8004 1846-7520 |
| language | deu |
| last_indexed | 2024-04-13T12:52:22Z |
| publishDate | 2019-12-01 |
| publisher | Faculty of Economics University of Rijeka |
| record_format | Article |
| series | Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu |
| spelling | doaj.art-bfcdb3c84a9a42d4a393db1d2d0d700d2022-12-22T02:46:11ZdeuFaculty of Economics University of RijekaZbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu1331-80041846-75202019-12-0137252755110.18045/zbefri.2019.2.527Effects of fiscal consolidation in Western Balkan CountriesMilenko Krajišnik0Dragan Gligorić1Biljana Gojkovićinternational economicsinternational economicsThe global economic crisis has not spared the countries of the Western Balkans. The ensuing recession, characterized by a decline in economic activity, a decline in consumption and an increase in unemployment, went hand in hand with drops in public revenues. This in turn resulted in budget imbalances that manifested in structural budget deficits and higher public debt. Fiscal consolidation was deemed necessary across the board. In this process, certain fiscal policy elements varied among countries. The structure of public revenues and public expenditures changed. The question is whether the fiscal consolidation was successful and to what extent. Dynamic panel analysis using PMG estimator in six Western Balkan Countries for the period 2004-2016 has shown that fiscal consolidation has positive impact on economic growth in this region. So, Western Balkan Countries have to conduct responsible public finances in order to encourage economic growth.https://www.efri.uniri.hr/upload/ZBORNIK%202_2019/19-Krajisnik-2019-2.pdfgdpbudget deficitfiscal consolidation |
| spellingShingle | Milenko Krajišnik Dragan Gligorić Biljana Gojković Effects of fiscal consolidation in Western Balkan Countries Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu gdp budget deficit fiscal consolidation |
| title | Effects of fiscal consolidation in Western Balkan Countries |
| title_full | Effects of fiscal consolidation in Western Balkan Countries |
| title_fullStr | Effects of fiscal consolidation in Western Balkan Countries |
| title_full_unstemmed | Effects of fiscal consolidation in Western Balkan Countries |
| title_short | Effects of fiscal consolidation in Western Balkan Countries |
| title_sort | effects of fiscal consolidation in western balkan countries |
| topic | gdp budget deficit fiscal consolidation |
| url | https://www.efri.uniri.hr/upload/ZBORNIK%202_2019/19-Krajisnik-2019-2.pdf |
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