Romanian Fiscal Policies: Do They Fight or Exacerbate the Crisis?

by Ana Otilia Nutu, Sorin Ionita,

As the financial crisis deepens in Romania, public expectations from the budget and the Government’s measures package remain high, but options remain limited. While some of the fiscal instruments proposed worldwide could arguably have benefic impacts on the Romanian economy if they could only be properly implemented, our budgetary sector is now constrained to adopt austerity measures. The fiscal policy needs time to regain credibility after years of incoherence, and commitments made in the elections year 2008 prove to be extremely costly today.

published in Vol 9 - No 1 - 2009 // Political or Economic Crisis?
ABSTRACT

    Political or Economic Crisis?

    The issue is particularly focused on the management of the financial crisis by national governments, the European Union and other intergovernmental organizations. The papers published in this issue contribute to the debate on the changing role of the state in the post-globalization era and the redefinition of governance in international... »
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    Romanian Fiscal Policies: Do They Fight or Exacerbate the Crisis?

    As the financial crisis deepens in Romania, public expectations from the budget and the Government’s measures package remain high, but options remain limited. While some of the fiscal instruments proposed worldwide could arguably have benefic impacts on the Romanian economy if they could only be properly implemented, our budgetary sector is now constrained to adopt... »

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Societatea Academica Romana