Many states in India have time and again elected a multiparty or a coalition government. Research so far has shown that these differences in political cohesiveness of the ruling political entity has influenced the spending choices of the state governments. However, the evidence is not completely...

A general equilibrium model has been constructed in a stochastic endogenous growth economy driven by an Ito-Levy diffusion process. The minimum time to “economic maturity” for an underdeveloped economy has been computed both in the preference manifold of the modified Ramsey fashion and in...

The purpose of this study is to contribute further on the twin deficits debate in a developing economy. The data for Malaysia over four decades is used as a case study. Empirical result obtained from the Johansen-Juselius (1990) cointegration test indicates that budget deficit and current...

China’s Western Development Strategy (WDS) has been carried out since 1999 with remarkable achievements, whereby Western China also experienced a rapid and stable development during the past decade. This paper analyzes policy actions and effects of WDS. The findings indicate that Western...

In the recent years there has been an intense discussion whether the actual behaviour of fiscal authorities is consistent with cyclical stabilization objectives. The question of the appropriate fiscal policy is gaining recognition especially for the countries of the euro area after entering the...

While a growing amount of economic evidence has emerged that capital controls as a tool may both be ineffective for many of their stated purposes, there has been little examination of their long-term effects that can harm rather than help entrepreneurship in emerging markets. The purpose of this...

This paper empirically analyzes the impact of budget deficit on the economic development of Romania. Using the OLS estimates for quarterly series for the period from 2001 to 2011, the results of the estimates prove that there is an indirect relationship between budget deficit and economic growth...

On 1 January 1999, the Economic and Monetary Union (EMU) has entered its final stage and the euro was introduced as the single currency of eleven European Union countries. The feature certainly peculiar economic and monetary union (EMU) is that in the face of a single monetary policy set at the...

In order to understand the common policies implemented by European Union for ensuring the political and economical integration,it is necessary to analyze the European Union Budgetary Expenditures,which are reflections of such policies. In this study, EU budgetary expenditures during 2007-2010...

In Italy the rate of growth of GDP has declined over the period 2000-2006, after joining the single currency. The decrease is not incidental, but it has a structural and long-term nature, so this decrease relates to the potential growth. This weakening of growth takes place in an international...