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The Costs Of Fiscal And Budgetary Policies From The Perspective Of Sustainable Development

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  • Mihail DIMITRIU

    (”Victor Slavescu” Financial and Monetary Research Center, Romanian Academy, Romania)

Abstract

The choice of the subject of this communication was based on the following considerations: fiscal and budgetary policies currently in place in Romania are not fully in line with long-term strategic objectives (sustainable development strategy at national and European level!); the mechanism for substantiating, adopting and implementing fiscal and / or fiscal policy measures in Romania does not clearly include elements for identifying costs and risks (especially those related to non-implementation of the sustainable development strategy); there is no full consensus on the implementation of long-term fiscal and budgetary policies beyond the electoral cycle, with a long-term development strategy (sustainable). The purpose of the communication is to identify and present some methods of determining the costs related to the non-application of the objectives of the sustainable development strategy, in the case of fiscal-budgetary policies in Romania.

Suggested Citation

  • Mihail DIMITRIU, 2019. "The Costs Of Fiscal And Budgetary Policies From The Perspective Of Sustainable Development," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 4(2), pages 52-64.
    • Handle: RePEc:brc:brccej:v:4:y:2019:i:2:p:52-64
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    References listed on IDEAS

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    1. Luca Agnello & Jacopo Cimadomo, 2012. "Discretionary Fiscal Policies over the Cycle: New Evidence Based on the ESCB Disaggregated Approach," International Journal of Central Banking, International Journal of Central Banking, vol. 8(2), pages 43-85, June.
    2. Alberto Alesina & Silvia Ardagna, 2010. "Large Changes in Fiscal Policy: Taxes versus Spending," NBER Chapters, in: Tax Policy and the Economy, Volume 24, pages 35-68, National Bureau of Economic Research, Inc.
    3. Klapper, Leora & Laeven, Luc & Rajan, Raghuram, 2006. "Entry regulation as a barrier to entrepreneurship," Journal of Financial Economics, Elsevier, vol. 82(3), pages 591-629, December.
    4. Peersman, Gert & Smets, Frank, 2001. "The monetary transmission mechanism in the euro area: more evidence from VAR analysis," Working Paper Series 91, European Central Bank.
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    More about this item

    Keywords

    Sustainability of economic development; government costs; public policies;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures

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