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Ekonomski Anali
Article . 2024 . Peer-reviewed
License: CC BY NC ND
Data sources: Crossref
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Ekonomski Anali
Article . 2024
Data sources: DOAJ
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The fiscal space and the fiscal stimulus during crisis in the Western Balkans

Authors: Marjan Petreski;

The fiscal space and the fiscal stimulus during crisis in the Western Balkans

Abstract

The fiscal space of the Western Balkan 6 (WB6) economies has been significantly tested by recent crises, including the COVID-19 pandemic and the Energy and Food Price Crisis. This paper investigates the role of pre-crisis fiscal space in shaping fiscal stimulus measures during crises, by endogenizing an expanded set of fiscal space measures. Results reveal that WB6 nations, possessing some fiscal space before previous crises, encountered limitations in formulating and implementing fiscal stimulus measures amid subsequent crises. With fiscal space largely utilized during and post-pandemic, the ability to implement fiscal stimulus during the recent Energy and Food Price Crisis has been considerably restricted. These findings underscore the importance of building fiscal buffers during non-crisis times to maintain resilience for unforeseen challenges. The paper highlights the need for forward-looking fiscal policies, emphasizing the potential adverse effects of overly generous fiscal packages on fiscal sustainability, which could hamper future crisis response capabilities.

Related Organizations
Keywords

fiscal stimulus, HD72-88, Economic growth, development, planning, crisis management, fiscal space

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
Published in a Diamond OA journal