The Sources of Serbian Budgetary Imbalances in a Time of Transition, Crisis and Global Pandemics

Andrić, Vladimir and Minović, Jelena (2022) The Sources of Serbian Budgetary Imbalances in a Time of Transition, Crisis and Global Pandemics. In: Economic and Financial Implications of Covid-19 Crises. Université Côte d'Azur, Nica, pp. 107-125. ISBN 978-2-493478-00-9

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Abstract

This chapter evaluates the empirical relevance of specific cause-and-effect hypotheses that govern the dynamic relationship between government revenues and primary expenditures in the case of the Republic of Serbia after the year 2000. The results of the structural VAR model show that the institutional separation hypothesis is the most plausible explanation for the formation of structural budget imbalances in the case of Serbia between 2001Q1 and 2021Q3.

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