Arjan Tushaj
- University of Tirana, Faculty of Economy, Economics Department, Albania
Abstract:
The paper examines the effect of the composition of public expenditure during the diverse shocks, particularly the global financial crisis of 2008 and the global pandemic of COVID-19, in Albania and several Balkan countries. The fiscal policy focuses on the composition of public expenditure to provide sustainable development in order to stimulate the growth-maximizing composition of public expenditure. Meanwhile, the use of fiscal instruments should contribute to the economic stabilization and promotion of economic growth, particularly during the diverse internal and external shocks. However, the effects of the composition of public expenditure are investigated through the analysis of comparative statics, particularly in Albania and several Balkan countries. We examined the allocation of government expenditures during adverse shocks, mostly the 2008 crisis and COVID-19, through the exploration of changes in the fiscal priorities amongst Albania and Balkan countries. The empirical results demonstrated the priority of government spending for financial stabilization and economic stimulus during the crisis of 2008 and for economic support during COVID-19 in these countries. Also, the outcomes of differences in government expenditure allocations amongst Balkan countries are mostly significant according to the responsiveness towards the 2008 crisis and COVID-19.
Tenth International Scientific-Business Conference LIMEN Leadership, Innovation, Management and Economics: Integrated Politics of Research - LIMEN 2024 - International Scientific-Business Conference – LIMEN 2024: Vol 10. Conference Proceedings , December 5, 2024
Conference Proceedings published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia
ISBN: 9788680194929 , ISSN: 26836149 , DOI: 10.31410/LIMEN.2024
Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission.
