Naslov
Fiscal Policy and Role of Changed Fiscal Rules in New EU Members

Autori
Obadić, Alka

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of the 4th International Conference Global Challenges for Competitiveness : Business and Government Perspective / Kersan-Škabić, Ines ; Krtalić, Sandra - Pula, 2007, 370-383

Skup
International Conference Global Challenges for Competitiveness : Business and Government Perspective (14 ; 2007)

Mjesto i datum
Pula, Hrvatska, 27.09.2007. - 29.09.2007

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
fiscal policy; economic growth; Maastricht Agreement; Stability and Growth Pact; EU

Sažetak
Objective of this paper is to analyse the most recent changes of fiscal policy in the enlarged EU as well as to attach importance to the efficient implementing of fiscal rules in both new and old EU member states. To be more specific, when entering monetary union, country loses control over its monetary policy, thus making fiscal policy the only economico-political instrument in new circumstances. In parallel, meeting Maastricht fiscal criteria and inescapability of alteration in SGP fiscal rules, following the latest enlargement wave, are also given weight to. Thesis arises that the same rules might be impossible to apply to both old and new member states. Results of analysis on public finance in new EU member states indicate the fact that the size of those governments is too large when compared to their level of development. Regression analysis carried out leads to the conclusion that EU members pay for the excessive size of their country by decline in economic growth. Continuous growth in a government size becomes an ever more serious challenge to Europe, both to old and new members. Therefore, the argument that fiscal rules are indispensable, in absence of monetary policy, is likely to be indisputable.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA