This paper estimates revenue and expenditure pro-cyclicality with respect to output and domestic absorption in new member states of the European Union and Croatia to assess whether these countries used the boom years of 2003-07 to create sufficient fiscal space. The current crisis has found many...

This study investigates the cyclical character of fiscal policy in transition countries in Central, Eastern and Southeastern Europe (CESEE) in the period from 1995 to 2011, using system GMM as the preferred estimation method for the underlying sample and model specification. The study finds...

This paper studies the determinants of economic growth and the role of the public budget in European Union (EU) member states in Central and Eastern Europe, that joined the European Union in 2004, with a balanced data set from 1996 until 2012. A special focus is set on the relationship between...