Economics, Econometrics and Finance
8 years ago

Pro-cyclical fiscal policies in crises worsen GDP shocks in developing countries.

1 view
Procedia Economics and Finance
An Empirical Study on Fiscal Policy in Crises Time: Evidence from Romania and Turkey
Mihaela Göndör, Özay Özpençe

Paper Summary

Fiscal policy in Romania and Turkey during crises is studied. Despite theory suggesting countercyclical policy is best, both countries tend to use pro-cyclical fiscal policy. This means their actions don't help soften economic shocks.

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