The Political Economy of Fiscal Deficits: Empirical Evidence from EU Countries

Kód výsledku v IS VaVaI

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Výsledek na webu

<a href="https://www.ekf.vsb.cz/export/sites/ekf/icei/.content/galerie-dokumentu/ICEI-2018_Proceedings.pdf" target="_blank" >https://www.ekf.vsb.cz/export/sites/ekf/icei/.content/galerie-dokumentu/ICEI-2018_Proceedings.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

The Political Economy of Fiscal Deficits: Empirical Evidence from EU Countries

Popis výsledku v původním jazyce

Fiscal policy has started to regain a lost attention in recent years, both in the academic research and in the government policy agendas. The reasons is obvious, primarily in the European context. Financial, economic and subsequent debt crises have hit the EU economies especially hard and their recovery seems to be rather gradual. The European economies still suffer from the problem of over-indebtedness and the problem of excessive budget deficits. Therefore, the aim of the paper is to evaluate basic economic, institutional and political determinants of budget deficits in the European Union countries. We use an unbalanced cross-country time series data set, comprising all 28 EU countries over the period 1995-2016. Fiscal policy seems to play a stabilizing role, but its counter-cyclical reactions are significantly stronger in recessions, while it does not react to current inflation and changes in the government bond yields. Moreover, some political and institutional variables play statistically significant role as well and appear to be important determinants of fiscal deficits.

Název v anglickém jazyce

The Political Economy of Fiscal Deficits: Empirical Evidence from EU Countries

Popis výsledku anglicky

Fiscal policy has started to regain a lost attention in recent years, both in the academic research and in the government policy agendas. The reasons is obvious, primarily in the European context. Financial, economic and subsequent debt crises have hit the EU economies especially hard and their recovery seems to be rather gradual. The European economies still suffer from the problem of over-indebtedness and the problem of excessive budget deficits. Therefore, the aim of the paper is to evaluate basic economic, institutional and political determinants of budget deficits in the European Union countries. We use an unbalanced cross-country time series data set, comprising all 28 EU countries over the period 1995-2016. Fiscal policy seems to play a stabilizing role, but its counter-cyclical reactions are significantly stronger in recessions, while it does not react to current inflation and changes in the government bond yields. Moreover, some political and institutional variables play statistically significant role as well and appear to be important determinants of fiscal deficits.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2018

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Proceedings of the 4th International Conference on European Integration 2018 : ICEI 2018 : May 17-18, 2018, Ostrava, Czech Republic. 1st part

ISBN

978-80-248-4169-4

ISSN

2571-029X

e-ISSN

neuvedeno

Počet stran výsledku

10

Strana od-do

545-555

Název nakladatele

VŠB - Technical University of Ostrava

Místo vydání

Ostrava

Místo konání akce

Ostrava

Datum konání akce

17. 5. 2018

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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