A Comparative Analysis of Fiscal Policy Changes in Selected European Union Countries outside the Eurozone

Agata Szymańska

doi:10.2478/cer-2019-0027

Authors

Agata Szymańska Institute of Economics, Faculty of Economics and Sociology University of Lodz, Lodz, Poland

DOI:

https://doi.org/10.2478/cer-2019-0027

Keywords:

fiscal stance, cyclically‑adjusted primary balance, non‑Eurozone countries

Abstract

The aim of this article is to investigate the fiscal policy changes in six Central and Eastern European countries outside the Eurozone: Bulgaria, the Czech Republic, Croatia, Hungary, Poland and Romania. The analysis covers the period from 2004 to 2017. The study uses changes in the cyclically‑adjusted primary balance as a main indicator to assess the fiscal policy stance. The results indicate that, in general, over the period from 2004 to 2017, the fiscal stance in these countries was somewhat contractionary.

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