engleski

The Efficiency of the Excessive Deficit Procedures in Reducing Fiscal Deficit and Debt in EU Member States

In this paper we compare the performed Excessive Deficit Procedures in selected Member States (since 2004). We give the overview of the measures taken in order to reduce deficit and debt below the thresholds and analyze their efficiency. We focus on measures both on the budget revenue and expenditure sides and analyse their effect on the level of deficit and debt as well as their impact on economic growth, employment, investment, debt service costs and some other macroeconomic indicators. The aim of the paper is to determine which economic policy measures performed in various EU Member States for the purpose of elimination of excessive deficit and debt could be applied in Croatia in order to reach the deficit and debt targets specified by the Council Recommendation and to abrogate from the existing Excessive Deficit Procedure by the end of 2016.

deficit, surplus, debt, fiscal policy, government, government expenditure

Rad je tiskan kao Chapter 3 u dijelu Part One: Fundamental Issues of Trade Liberalization, Economic Integration, and Regional Development in Europe.