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A Literature Review on Fiscal Risks

Author

Listed:
  • Adriana Elena PORUMBOIU

    (Doctoral School of Finance, Bucharest University of Economic Studies, Bucharest,Romania)

  • Petre BREZEANU

    (The Bucharest University of Economic Studies Department of Finance, Bucharest, Romania)

Abstract

The aim of this paper is to analyze several definitions of the concept of fiscal risk, in order to understand its macroeconomic impact. States that have ignored or dealt superficially with fiscal risks have registered increases in public debt or fiscal crises (Bova et al.,2016), hence the importance of studying this concept. To understand the amplitude of the phenomenon, we note that there was a situation where the materialization of a fiscal risk attracted huge costs for a country, at the maximum level of 56.8% of its GDP (Indonesia). This overwhelming ratio sounds an alarm signal regarding the management of the situations that imply fiscal risks within the economy of each country, but for the beginning it is necessary to reveal the meaning of this notion.

Suggested Citation

  • Adriana Elena PORUMBOIU & Petre BREZEANU, 2019. "A Literature Review on Fiscal Risks," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(21), pages 107-111, November.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2019:i:21:p:107-111
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    File URL: http://www.financejournal.ro/fisiere/revista/198890437709.%20Porumboiu_Brezeanu%20EN.pdf
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    Citations

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    Cited by:

    1. Adriana Elena PORUMBOIU & Petre BREZEANU, 2020. "The Lawsuits Romania Loses at European Court of Human Rights - Judicial Vulnerability, Fiscal Consequences," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(22), pages 51-57, November.
    2. Porumboiu Adriana Elena & Brezeanu Petre, 2022. "Determinants of Government Debt in the Member States of the European Union: Sources of Fiscal Risk," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 16(1), pages 707-721, August.

    More about this item

    Keywords

    fiscal risk; fiscal obligation; fiscal result; fiscal cost.;
    All these keywords.

    JEL classification:

    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt
    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law

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