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composition of the GDP growth - if economic growth is driven by less "tax-rich" components, such as exports, the revenue …
Persistent link: https://www.econbiz.de/10009641056
This study focuses on the most important drivers of the swift current account rebalancing which is taking place in Estonia and considers the possible way forward. After very large deficits in the boom years (2005-2007), Estonia's current account balance turned positive in the downturn, as...
Persistent link: https://www.econbiz.de/10009641059
Romania's domestic demand boom over the past few years has led to rapidly widening current account deficits, reaching an estimated 13½% of GDP in 2008. High private sector dissaving has been exacerbated by a procycylical fiscal policy, with the public deficit likely to exceed 3% of GDP in 2008....
Persistent link: https://www.econbiz.de/10009641061
contribution to welfare and economic growth, these two expenditure components together represent around 30% of total general …
Persistent link: https://www.econbiz.de/10009641062
The UK's self-sufficiency in fossil fuels shields public finances from the negative effects of higher oil prices on general economic activity. Changes in the international price of oil affect government revenues from the corporate and household sectors. Taxes on oil production are estimated to...
Persistent link: https://www.econbiz.de/10009641068
The dominance of electoral considerations in determining budgetary outcomes has been evident in Hungary over the last 15 years, with government deficits reaching their highest levels in election years (1994, 1998, 2002 and 2006). This deterioration of public finances has largely been possible...
Persistent link: https://www.econbiz.de/10009641089
Since the early 1990s Croatia has managed a rather successful transition process with solid growth, low inflation and … mitigate external risks. Current account deficits have been driven by strong investment growth rather than a decline in …
Persistent link: https://www.econbiz.de/10009641145
This Country Focus studies the impact of changes in government expenditure in Hungary over the period 1997Q1 to 2005Q4 using a structural vector-autoregressive model. The results suggest that discretionary shifts in government expenditure have a mixed impact on the economy. In particular, while...
Persistent link: https://www.econbiz.de/10009641247
Persistent link: https://www.econbiz.de/10009686312
Member States receive funds for agriculture, structural development (e.g. infrastructure works) and internal policies (e.g. training, research, environmental protection), but in exchange have to make a contribution to the EU budget. Given the overall low level of income per head as compared to...
Persistent link: https://www.econbiz.de/10009698434