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dc.contributor.authorVladimirov, Vladimiren_US
dc.contributor.authorNeicheva, Mariaen_US
dc.identifier.citationIBSU Scientific Journal (IBSUSJ) 1512-3731 2 2008 1 7-22en_US
dc.description.abstractThe study sheds light on the stabilizing role of government budget. It finds that in Bulgaria both taxes and government spending are negatively related to the real growth rate. This leads to the conclusion that budgetary expenditure influence output in a non-Keynesian fashion. The size of discretionary fiscal impulse is the main determinant of the non-Keynesian outcome. The results imply that although the balanced budget ensures the sustainability of public finances, it does not guarantee a growth-stimulating effect in case of a large government sector. Abstention from an active fiscal policy would allow the automatic stabilizers to operate freely and to counteract the negative shocks to the economy.en_US
dc.publisherInternational Black Sea University Tbilisien_US
dc.subject.keywordgovernment budgeten_US
dc.subject.keywordstabilizing fiscal policyen_US
dc.subject.keywordnon-Keynesian effectsen_US
dc.titleThe stabilizing role of fiscal policy: Theroretical background and empirical evidenceen_US
Appears in Collections:IBSU Scientific Journal (IBSUSJ)

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