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Theoretical and Applied Economics
No. 4 / 2020 (625), Winter

Fiscal sustainability in Romania

Bucharest University of Economic Studies, Romania
Lucian Constantin VÎLCU
Bucharest University of Economic Studies, Romania
Iulian Cornel LOLEA
Bucharest University of Economic Studies, Romania
National University of Political Studies and Public Administration, Romania

Abstract. In this paper we have tested the Romanian fiscal sustainability during the period between. In this way. In this regard, we analyzed the relationship between the public debt and primary budget deficit, and between public expenditure and public revenue in Romania. We aim to find out what if there are any type of relationships as Afonso and Jalles (2012) defined sustainability: unidirectional causality, bidirectional causality (perfect fiscal synchronization) and no causality. Hence, our approach was focused on testing fiscal sustainability in Romania and we have found that there was a sort of sustainability. In this period the policy makers took some measures in accordance with the definition of what fiscal sustainability should mean.

Keywords: sustainable fiscal policy, primary budget balance, public debt, public expenditures, public revenues.

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016


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