The Quality of Fiscal Adjustments in Transition Economies

Bank i Kredyt, No. 7, pp. 7-28, 2007

22 Pages Posted: 7 Jan 2008

See all articles by Andrzej Rzonca

Andrzej Rzonca

Warsaw School of Economics (SGH); National Bank of Poland

Aristomene Varoudakis

World Bank

Abstract

An analysis of fiscal adjustment patterns in Central and Eastern Europe and Central Asia is conducted here, including recent years. The main question addressed in the article is whether sustainable fiscal adjustment has been achieved primarily through downsizing potentially less productive public expenditure, or possibly at the expense of potentially growth-promoting expenditure. In addition, the article also addresses a related issue of whether fiscal policy has been managed in a sufficiently counter-cyclical way in the countries in question.

Keywords: sustainability of fiscal adjustment, transition economies, public finances and business cycle

JEL Classification: B32, E62, E65

Suggested Citation

Rzonca, Andrzej and Varoudakis, Aristomene, The Quality of Fiscal Adjustments in Transition Economies. Bank i Kredyt, No. 7, pp. 7-28, 2007. Available at SSRN: https://ssrn.com/abstract=1081290

Narodowy Bank Polski (Contact Author)

Narodowy Bank Polski ( email )

ul. Swietokrzyska 11/21
Warszawa, 00-919
Poland
48 22 185 28 52 (Phone)

HOME PAGE: http://www.nbp.pl/homen.aspx?f=/en/publikacje/materialy_i_studia/informacja_en.html

Narodowy Bank Polski ( email )

ul. Swietokrzyska 11/21
Warsaw, 00-919
Poland
+48226531759 (Phone)
+48228269935 (Fax)

HOME PAGE: http://bankikredyt.nbp.pl/homen.aspx?f=/content/html/main_en.html

Andrzej Rzonca

Warsaw School of Economics (SGH) ( email )

aleja Niepodleglosci 162
PL-Warsaw, 02-554
Poland

National Bank of Poland ( email )

00-919 Warsaw
Poland

Aristomene Varoudakis

World Bank ( email )

1818 H Street, NW
Washington, DC 20433
United States

Register to save articles to
your library

Register

Paper statistics

Downloads
61
Abstract Views
473
rank
353,642
PlumX Metrics