This paper represents a continuation of a previous paper, Mutaşcu & Dima (2005), where we demonstrated the “abnormal” behavior that local authority from Romania is manifesting regarding the subventions received from the central budget. In accord with public choice theory, exist an...

Notably, Africa countries have enjoyed relatively strong economic growth for the past years (decade) mainly because of impressive global demand for primary commodities. Unfortunately, Africa’s economic growth had failed to generate many good jobs and thus postponing the benefits of the...

This study investigates the effect of public debt on growth, interest rate, and sustaibility of public debt in a very simple endogenous growth model with financial imperfection and the firm heterogeneity. Increases in public debts cause higher real interest rates through financial markets and...

Financial deepening plays a pivotal role in fostering economic growth, alleviating poverty, and mitigating social inequalities. Employing the Vector Autoregressive Model (VAR), this study examines the implications of per capita gross domestic product (GDP), interest rates, and inflation rates...

In macroeconomic literature, fiscal policy is considered a powerful tool to achieve sustainable development, full employment, and social well-being in developed and developing societies. For this, public authority uses expansionary and contractionary tax policies to achieve stable growth and...

Smooth and stable commercial/business activities are the prime concern of every nation, as these activities decide the developmental routes of the economy. This study has examined the role of institutional development and policy mix in determining business freedom in developing countries....

This study investigates the effectiveness of fiscal policy in macroeconomic stabilization during the COVID-19 health crisis through a Dynamic Stochastic General Equilibrium (DSGE) model, incorporating financial frictions and using Romanian empirical data from 2007-2020. We analyse the impact of...

The study examines the theoretical considerations and empirical results of the switch to market borrowing, i.e. bond financing of the fiscal deficit, with correspondingly low monetisation, as part of India’s structural reforms initiated in 1991. It basically concludes that despite the sharp...

Eurostat and OECD regularly publish data concerning a tax burden in particular countries. Tax quota (compound tax quota) is used as a basic international comparative indicator, which determines a ratio of taxes in the gross domestic product. This indicator is a subject of interest even in...

This study empirically examines the effect of economic policy on sustainable development using annual data for 22 countries from 2011 to 2018. The study also proffers some economic policy strategies for increasing the level of sustainable development. In the empirical analysis, a sustainable...