Impact of Fiscal Rules on Government Expenditure and Tax Revenue in Emerging European Countries: Threshold Effect of Budget Deficit

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dc.contributor.authorKoktas, Altug Murat
dc.contributor.authorGunel, Tugay
dc.date.accessioned2024-02-23T14:34:41Z
dc.date.available2024-02-23T14:34:41Z
dc.date.issued2022
dc.departmentNEÜen_US
dc.description.abstractThis study aims to investigate the effectiveness of fiscal rules in terms of gov-ernment expenditure and tax revenues with and without the threshold effect of the budget deficit over the period 1995 - 2019 in 91 emerging European coun-tries, as the frequency and severity of the implementation of fiscal rules vary according to the level of the budget deficit. To achieve this objective, the study firstly examines this relationship using the fixed and random effect methods without considering the threshold effect of budget deficit. Secondly, the study employs the panel threshold method proposed by Hansen (1999) to examine this relationship with the threshold effect of budget deficit, which is different from previous studies. Based on the panel threshold estimation, the results reveal that there are two threshold levels of budget deficit on government expenditure and a single threshold level of budget deficit on government tax revenue. Depending on these thresholds, the effect of fiscal rules on government expenditure and tax revenue varies significantly. This suggests that fiscal rules are more effective in ensuring fiscal discipline when the budget deficit is high and less effective when the budget deficit is low.en_US
dc.identifier.doi10.31577/ekoncas.2022.03.03
dc.identifier.endpage283en_US
dc.identifier.issn0013-3035
dc.identifier.issue3en_US
dc.identifier.scopus2-s2.0-85139927262en_US
dc.identifier.scopusqualityQ4en_US
dc.identifier.startpage264en_US
dc.identifier.urihttps://doi.org/10.31577/ekoncas.2022.03.03
dc.identifier.urihttps://hdl.handle.net/20.500.12452/15712
dc.identifier.volume70en_US
dc.identifier.wosWOS:000872375900003en_US
dc.identifier.wosqualityQ4en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherInst Economics Research Sas & Inst Forecasting Csps Sasen_US
dc.relation.ispartofEkonomicky Casopisen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectFiscal Ruleen_US
dc.subjectGovernment Expenditureen_US
dc.subjectTax Revenueen_US
dc.subjectBudget Deficiten_US
dc.subjectThresholden_US
dc.titleImpact of Fiscal Rules on Government Expenditure and Tax Revenue in Emerging European Countries: Threshold Effect of Budget Deficiten_US
dc.typeArticleen_US

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