THE EXCESSIVE DEFICIT, A TOOL TO IMPROVE THE ECONOMIC GOVERNANCE IN THE EU MEMBER STATES
Autor (i): Elena Doina, Dascălu Bogdan Narcis, FîrŃescu
JEL: M41
Cuvinte cheie: excessive deficit, accrual accounting, cash accounting, public finance
Abstract:
This research approach presents the viewpoint on the issue of the excessive deficit within the European context, and highlights the situation in Romania. The starting point was the evolution of economic and budgetary governance policy within the European Union. Consequently, we focused on the study of budgetary policies among the Member States, whose role is to ensure a solid system of public finances in the framework of the smooth functioning of the Economic and Monetary Union (the Maastricht Treaty). The question we attempted to answer in this research was: "Has the application of the economic and monetary union principles ensured the stability of the Member States’ public finances and avoided the excessive deficit?". In this context, we started from the following assumptions: "Are the data that the public accounting provides reliable, so that the information included in the public finance statistics can be considered trustworthy?"; "Does the public accounting reform in the Member States ensure the transparency and comparability of the information?";”Have the reforms concerning the strengthening of the financial discipline improved the excessive deficit procedure?”.
This research approach presents the viewpoint on the issue of the excessive deficit within the European context, and highlights the situation in Romania. The starting point was the evolution of economic and budgetary governance policy within the European Union. Consequently, we focused on the study of budgetary policies among the Member States, whose role is to ensure a solid system of public finances in the framework of the smooth functioning of the Economic and Monetary Union (the Maastricht Treaty). The question we attempted to answer in this research was: "Has the application of the economic and monetary union principles ensured the stability of the Member States’ public finances and avoided the excessive deficit?". In this context, we started from the following assumptions: "Are the data that the public accounting provides reliable, so that the information included in the public finance statistics can be considered trustworthy?"; "Does the public accounting reform in the Member States ensure the transparency and comparability of the information?";”Have the reforms concerning the strengthening of the financial discipline improved the excessive deficit procedure?”.
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