Impactul politicii fiscale asupra creșterii economice. Analiză comparativă în cadrul submodelelor Uniunii Europene
The impact of fiscal policy on economic growth. Comparative analysis within the submodels of the European Union

Summary/Abstract: The study of the relationship between fiscal policy and economic growth has received much attention from economists and researchers. The question of whether or not fiscal policy stimulates economic growth has dominated theoretical and empirical debates for a long time. The present study examined the impact of fiscal policy, measured by the main fiscal policy instruments, on economic growth within the European Union in the period 2000-2020. The European development model is focused on a high level of equity, insurance, and social protection. According to analysts, within the European Union today there are five sub-models of economic development: Nordic, Continental, Southern, and Catching-up. The problem of the study focusses on the answer to the following question: What is the effect of fiscal policy on economic growth under the Nordic and Catching-up submodels, measured according to the main categories of fiscal revenues and government expenditures? Also, the study aims to make some comparisons regarding fiscal policy measures within the two analysed sub-models. The study used multiple linear regression and the least squares method (OLS) to test the hypotheses analysed. Thus, two econometric models were created to capture the impact of taxes, fees, and categories of government spending on economic growth.

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