Naslov
The impact of Maastricht Treaty fiscal criteria on crowding out effect in Croatia

Autori
Benazić, Manuel ; Ivanović, Igor

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

Izvornik
Fokus 2020 / Focus 2020 / Balantič, Zvone et al. - Kranj : Fakulteta za organizacijske vede Univerze v Mariboru, 2014, 65-73

ISBN
978-961-232-274-8

Skup
The 33rd International Conference on Organizational Science Development

Mjesto i datum
Portorož, Slovenija, 19.03.2014. - 21.03.2014

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Maastricht Treaty, crowding out effect, VAR model, Granger causality, Croatia

Sažetak
Besides ensuring sound public finance, fiscal policy in Croatia needs also to follow one more objective: tax harmonization which is rimmed by limitations from Maastricht Treaty criteria. For a developing country like Croatia, fiscal policy has to be an important tool of stabilization and development tendencies. Rising public debt and budget deficit can adversely affect both public and private investment potential, which can dampen economic growth prospects. Hence, this can induce the crowding out effect. For Croatia, this actually means that inflicted Maastricht restrictions could de facto ensure a fall in fiscal deficit and public debt i.e. sustainability of economic growth and macroeconomic stability. The aim of this paper is to evaluate the consequences of Maastricht Treaty restrictions on the Croatian economy, regarding possible crowding out relations. Estimation was based on Granger causality tests whereas a VAR model was obtained in order to present the dynamics of changes.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA