Scandinavian Working Papers in Economics
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Institute for Economies in Transition, Bank of Finland BOFIT Discussion Papers, Institute for Economies in Transition, Bank of Finland

No 5/2000:
Fiscal Policy and Structural Reforms in Transition Economies: An Empirical Analysis

Jukka Pirttilä ()

Abstract: This paper makes an empirical examination of the relationship between fiscal balance and structural reforms using panel data from 25 transition economies. The results indicate that price liberalisation has a positive impact on fiscal performance, while privatisation and restructuring, via unemployment, affect the fiscal balance negatively. These findings are somewhat in contrast with earlier empirical work and theoretical transition economics that maintain fiscal pressures are most severe in fast-reforming countries. The analysis further suggests that countries with better fiscal positions may have benefited from favourable initial conditions.

Keywords: fiscal policy; structural reforms; transition economies; (follow links to similar papers)

44 pages, May 25, 2000

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