Annals of the University of Oradea: Economic Science (Dec 2018)
ECONOMIC AND FISCAL IMPLICATIONS IN THE POST-CRISIS PERIOD
Abstract
The post-crisis period was defined by an acute imbalance in the socio-economic environment of the countries. The fiscal policies applied at that time, designed to relieve the detrimental changes in the national economic structure, have been identified as being ineffective. They have not succeeded to generate positive effects, whether it is about short-term or long-term effects. This paper aims to identify some causes that have contributed to the financial crisis, as well as its effects by analysing some indicators from five emerging countries (Romania, Poland, Slovakia, Estonia and Lithuania) and five developed countries (Germany, the Netherlands, Italy, Sweden and Denmark) for a period of nine years, more exactly, from 2008 to 2016. The outcome of the analysis reveals that the imbalance in the economy, especially in emerging countries, has led to a major increase in the population exodus, all of which are closely linked to the development inability of the business environment. Moreover, there has been analysed the influence of investments (GFCF) and real labour productivity (LP) on gross domestic product (GDP) by applying the prospective Forward method in the SPSS statistical program, demonstrating that the business environment is a factor of influence in the economic growth of a country.
