The subject of this paper is four Balkan countries (Albania, Serbia, Macedonia, and Montenegro) that are determined to join the European Union. More particularly, it looks at their work towards accomplishing the political, legal and economic requirements for the EU. Thus, the legislation with...

The coronavirus crisis, which began in 2020, had a major impact on the fiscal policies of the EU member states. Governments increased their spending to support economies affected by quarantine measures. Expenditure increase and revenue reduction made EU countries non-compliant with the...

The expansionary fiscal contraction (EFC) hypothesis states that fiscal austerity can increase output or consumption when a country is under heavy debt burdens because it sends positive signal about the country's solvency situation and long-term economic wellbeing. Empirical tests of this...