This study intends to provide an empirical answer to the question of whether Maastricht and SGP fiscal rules have affected growth of European Union countries. A growth equation augmented with fiscal variables and controlling for the period in which fiscal rules were implemented in Europe is...

The implementation of the Maastricht criteria, establishment of the Stability and Growth Pact (SGP), creation of the European Central Bank (ECB) and the Economic and Monetary Union (EMU) raised several challenges for the European Union (EU) countries. The main aim of this dissertation is to...