Author: António Afonso
Publisher:
ISBN:
Category :
Languages : en
Pages : 41

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Book Description

Author: István Benczes
Publisher: Central European University Press
ISBN: 9633860598
Category : Political Science
Languages : en
Pages : 242

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Book Description
The adjustment problems of public finance in countries of Central and Eastern Europe (CEE) are often misunderstood and misinterpreted by western scholars. This book contributes to the bridging of the gap between what is being thought by external observers and what the actual public finance reality is, as described by competent local scholars. Popular political economy research has remained biased towards advanced countries and has neglected developing and transition economies. Publications on CEE countries' public finances seem to be reluctant to apply the conceptual framework of standard political economy to these countries because of the assumption that CEE economies are different from their Western peers. But is this really the case? Are CEE economies so much different that none of the well-known "Western" political economy concepts or models can be applied to the analysis of fiscal performance in the region? Benczes demonstrates that they can be safely applied in the context of CEE economies as well. He sees no need to develop a separate or unique theory designed for the study and understanding of (one-time) transition economies.

Author: Mr.Brian Olden
Publisher: International Monetary Fund
ISBN: 1475562152
Category : Business & Economics
Languages : en
Pages : 89

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Book Description
This paper assesses the relative strengths and weaknesses of fiscal institutions in ten Southeastern European countries, using recent benchmarking methodologies developed by FAD. The assessment evaluates each country’s understanding of the scale of the fiscal adjustment challenge, its ability to develop a credible consolidation strategy, and its capacity to implement the strategy. Key institutional arrangements, are generally in place, including top-down budgeting and medium-term budget frameworks. Other institutional arrangements require further attention, including macro-fiscal forecasting, fiscal risk analysis, setting fiscal objectives, presence and role of independent fiscal agencies, and top-down parliamentary approval.

Author: Sijbren Cnossen
Publisher: International Monetary Fund
ISBN: 1451960638
Category : Business & Economics
Languages : en
Pages : 49

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Book Description
In the course of introducing a market-oriented tax system, most Central and Eastern European countries are actively considering the merits of a value-added tax (VAT). This paper examines a wide range of social, economic, structural, and administrative issues that are pertinent to the introduction of a VAT. These issues have regard to the burden distribution of the VAT, its effect on the price level and economic growth, as well as the coverage of the tax, the definition of the base, and the choice of the rate structure. Various legal and administrative aspects are also reviewed. The paper draws on the experience with value-added taxation of the member states of the European Community (EC) and other countries that belong to the Organisation for Economic Cooperation and Development (OECD).

Author: William Dillinger
Publisher: World Bank Publications
ISBN: 0821371487
Category : Political Science
Languages : en
Pages : 58

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Book Description
This paper evaluates reforms in the structure of intergovernmental relations in Eastern Europe since the breakup of the Soviet Union, focusing on eight recent EU accession countries: the Czech Republic, Estonia, Hungary Latvia, Lithuania, Poland, Slovakia, and Slovenia. It reviews each country's response to the economic and political upheavals of the immediate post-Soviet era and their gradual convergence on a common "eastern European model" of intergovernmental relations.

Author: Anastasios Karasavvoglou
Publisher: Springer
ISBN: 3319703773
Category : Business & Economics
Languages : en
Pages : 903

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Book Description
This volume comprises papers presented at the 8th international conference “The Economies of the Balkan and Eastern European Countries in the Changing World” (EBEEC) held in Split, Croatia in 2016. The papers cover a wide range of current issues relevant for the whole of Eastern Europe, such as European integration, economic growth, labour markets, education and tourism. Written by experienced researchers in the field of economic challenges for Eastern Europe, the papers not only analyse recent problems, but also offer policies to resolve them. Furthermore, they offer insights into the theoretical and empirical foundations of the economic processes described. The proceedings of the conference appeals to all those interested in the further economic development of the Balkan and Eastern European countries.

Author: Mr.Tigran Poghosyan
Publisher: International Monetary Fund
ISBN: 1484304373
Category : Business & Economics
Languages : en
Pages : 37

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Book Description
This paper revisits the issue of cross-country spillovers from fiscal consolidations using an innovative empirical methodology. We find evidence in support of fiscal spillovers in 10 euro area countries. Fiscal consolidation in one country not only reduces domestic output (direct effect), but also the output of other member countries (indirect/spillover effect). Fiscal spillovers are larger for: (i) more closely located and economically integrated countries, and (ii) fiscal shocks originating from relatively larger countries. On average, 1 percent of GDP fiscal consolidation in 10 euro area countries reduces the combined output by 0.6 percent on impact, out of which half is driven by indirect effects from fiscal spillovers. The impact peters out and becomes insignificant over the medium-term. It is largely driven by tax measures, which have a relatively stronger effect on output compared to expenditure measures. The results are robust to alternative measures of bilateral links across countries.

Author: István Benczes
Publisher: Central European University Press
ISBN: 6155211329
Category : Political Science
Languages : en
Pages : 270

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Book Description
The book provides a clear, multidisciplinary and systematic analysis of the relatively new concept of the so-called expansionary fiscal consolidations. This concept suggests that fiscal adjustment should not be in trade-off with economic growth if certain conditions are met. But why do only a few countries and only at certain times experience the expansionary effects, while others not at all? The necessary institutional conditions and circumstances have been totally neglected in the literature, or analyzed only partially at best.

Author: Lucjan T. Orlowski
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Book Description
This paper focuses on adjustments in fiscal policy in five CEC's whose accession seems to be politically most feasible, and who have expressed the strongest desire to join the Union. They include: Poland, the Czech Republic, Slovakia, Hungary, and Slovenia. Fiscal consolidation in these countries is very critical in the process of preparations for accession to the EU. These countries will have to undergo major reforms of tax laws and they have to further develop efficient institutions of government revenue collection. The governments will have to significantly alter their major expenditure positions as well. These CEC's are all implementing the program of transformation from central planning and state ownership into deregulated, competitive economic structures with private ownership. The ultimate goal of this transformation is minimization of state ownership, state financing and state regulatory interference with business to reasonable levels comparable to modern economies of industrial nations. In essence, this transformation shall be based on a sizable contraction of the state sector to ensure compatibility with the fiscal and regulatory system of the EU nations and to narrow the efficiency gap between the West and the East. Consequently, the task of their fiscal convergence shall be very ambitious. Because the ongoing economic transformation is so closely tied to the contraction of the government intervention with business in CEC's, it is proposed that at the end of the pre-accession period the candidate countries of Central Europe shall not exceed a 3 per cent budget deficit-to-GDP ratio, right at the level consistent with the Maastricht convergence criteria for inclusion in the European Monetary System. Moreover, even a tighter criterion of no more than 2 per cent shall be recommended for CEC's since a 3 per cent annul deficit in relation to GDP is still quite significant. However, a tighter deviation from the Maastricht convergence criteria will be politically unjust, it may send a discriminatory message to the candidate countries. The fiscal convergence criterion required in preparations for accession to the EU shall be constitutionally guaranteed in CEC's and simultaneously announced to the public as a criterion of a "balanced budget" national economic strategy. At the same time, a 60 per cent maximum allowed ratio of public debt-to-GDP shall be applied as a supplementary fiscal convergence measure.

Author: Mr.Emidio Cocozza
Publisher: International Monetary Fund
ISBN: 146392786X
Category : Business & Economics
Languages : en
Pages : 70

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Book Description
This paper analyzes the impact of the global crisis on six South-Eastern European countries. The main objective is to compare macro-financial conditions and policies in the run-up to the crisis as well as to compare the policy responses to it, so as to highlight, inter alia, possible country-specific constraints. While sharing a common pre-crisis pattern of strong capital inflows and robust growth, a key difference in the conduct of macroeconomicpolicies is that some countries adopted expansionary (and procyclical) fiscal policies. These moves exacerbated external vulnerabilities and compromised the ability to discretionarily use the fiscal instrument in acountercyclical fashion.