This paper tries to briefly analyze the characteristics of fiscal policy in the context of the actual crisis. We start from the ongoing discussion regarding the role of fiscal policy during the economic and financial crisis. We then focus on the case of CEE countries and on Romanian economy and...

This paper will examine the sustainability of the central budget and its relation to the financial stability in the case of Indonesia. The standard model of fiscal sustainability is modified to cover some financial variables. The empirical estimates are done by employing several aspects of the...

This study determines the causal relationship between the expenditure and revenue of government in the case of Romania by using the autoregressive distributive lag approach to cointegration, variance decomposition and rolling regression method. The results indicate that bidirectional long run...

The present study broadly attempts to analyze the role of Fiscal Responsibility and Budget Management Act in restoring fiscal balance in India. It analyses the need for fiscal rules and constraints in India. The study aims at finding out the major factor behind rising fiscal imbalance in India...

In the context of a society with limited resources, borrowing seems to be a desirable method that allows governments to finance the required expenditures. But government borrowing is accepted as long as it is consistent with a sound fiscal policy. Since 1923, when the concept of sound finance...