Fiscal Adjustments in the European Union versus West Balkans economies: Evidence from Heterogeneous Panels
Olgica Glavaški,
Emilija Beker Pucar
Abstract:This paper empirically assesses heterogeneity of fiscal adjustments in the European Union and West Balkans economies, in the circumstances when debt crisis renewed the questions when and how governments adjust their public expenditure. The research covers sample of 28 European Union economies and 5 West Balkans economies over the period 1995-2018. The results based on PMG panel model point to weak fiscal sustainability with significant fiscal adjustments, in average, 28.18 % of deviations from equilibrium rela… Show more
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