Determinants of budget deficits: Focus on the effects from the COVID-19 crisis

Tevdovski, Dragan; Jolakoski, Petar; Stojkoski, Viktor

doi:10.48550/arxiv.2105.14959

Cited by 2 publications

(2 citation statements)

References 19 publications

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“…Klose and Tillmann [77] claim that domestic fiscal policy, the macroprudential policy as well as monetary policy support the countries' recovery from the crisis. Moreover, flexible fiscal rules include features to accommodate exogenous shocks, e.g., COVID-19 [78,79]. Hochrainer-Stigler [80] observes an increase in fiscal risk against natural disasters due to the COVID-19 pandemic.…”

Section: Readiness Factorsmentioning

confidence: 99%

COVID-19 resilience index in European Union countries based on their risk and readiness scale

et al. 2023

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Addressing risks and pandemics at a country level is a complex task that requires transdisciplinary approaches. The paper aims to identify groups of the European Union countries characterized by a similar COVID-19 Resilience Index (CRI). Developed in the paper CRI index reflects the countries’ COVID-19 risk and their readiness for a crisis situation, including a pandemic. Moreover, the study detects the factors that significantly differentiate the distinguished groups. According to our research, Bulgaria, Hungary, Malta, and Poland have the lowest COVID-19 Resilience Index score, with Croatia, Greece, Czechia, and Slovakia following close. At the same time, Ireland and Scandinavian countries occupy the top of the leader board, followed by Luxemburg. The Kruskal-Wallis test results indicate four COVID-19 risk indicators that significantly differentiate the countries in the first year of the COVID-19 pandemic. Among the significant factors are not only COVID-19-related factors, i.e., the changes in residential human mobility, the stringency of anti-COVID-19 policy, but also strictly environmental factors, namely pollution and material footprint. It indicates that the most critical global environmental issues might be crucial in the phase of a future pandemic. Moreover, we detect eight readiness factors that significantly differentiate the analysed country groups. Among the significant factors are the economic indicators such as GDP per capita and labour markets, the governance indicators such as Rule of Law, Access to Information, Implementation and Adaptability measures, and social indicators such as Tertiary Attainment and Research, Innovation, and Infrastructure.

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Section: Readiness Factorsmentioning

confidence: 99%

COVID-19 resilience index in European Union countries based on their risk and readiness scale

et al. 2023

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“…Budget deficits are among governments' most critical problems, especially with the Covid-19 pandemic. The budget deficit problem started with the 2008 global financial crisis and deepened with the Covid pandemic that emerged in 2019 (Rompuy, 2021;Tevdovski et al, 2021). One of the main reasons for the emergence of this problem is the increase in public expenditures.…”

Section: Introductionmentioning

confidence: 99%

Testing Convergence of Fiscal Policies in Regions of Turkey

Karas

KARAŞ

2023

ECO

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The presence of convergence in the fiscal policies implemented at the national level in order to eliminate regional inequalities is an indication that the resources are rationally distributed among the regions and the differences are decreasing. From this point of view, in this study, it is aimed to investigate the convergence of the fiscal policy implemented in the period of 2004:01-2020:12 in Turkey within the scope of the fiscal purpose of taxes. In the study, nonlinear convergence analysis was performed, but linear convergence analysis was used because the linearity hypothesis could not be rejected. According to the findings, there is an absolute convergence between the regions in the fiscal policy implemented in Turkey. However, in terms of regions, the first region is differentiated from other five regions, while the other regions are very close to each other. Regarding this, it may be possible to bring the first region and the other five regions closer to each other by reducing the difference with the arrangements to be made in taxation policies. The obtained findings offer important implications for policy makers.

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Determinants of budget deficits: Focus on the effects from the COVID-19 crisis

Cited by 2 publications

References 19 publications

COVID-19 resilience index in European Union countries based on their risk and readiness scale

COVID-19 resilience index in European Union countries based on their risk and readiness scale

Testing Convergence of Fiscal Policies in Regions of Turkey

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