| Title |
Fiskalinių kintamųjų poveikio finansiniam stabilumui vertinimas / |
| Translation of Title |
The evaluation of the impact of fiscal indicators on financial stability. |
| Authors |
Keliuotytė-Staniulėnienė, Greta |
| Full Text |
|
| Pages |
197 |
| Keywords [eng] |
financial stability ; fiscal policy ; multiple criteria assessment ; panel data models |
| Abstract [eng] |
Global financial crisis revealed multidimensional nature of interaction of fiscal policy, monetary policy and financial stability. Government’s ability to support both financial sector and real economic sector has been very important in preventing financial and economic downturn. However, unexpected consequences of financial crisis revealed that fiscal policy itself can be considered as the main risk to financial and monetary stability. The relationship between banking and financial sectors and public finance (fiscal variables) has been observed, however, the relationship between fiscal policy and financial stability is not clearly defined. The objective of the research work is to evaluate quantitatively the impact of fiscal variables on financial stability in Central and Eastern European countries. Complex research involves factor analysis of financial stability factors, formation and estimation of aggregated financial stability index and panel estimation of the impact of fiscal variables on variation of financial stability index. Developed panel models of financial stability as dependent variable involve fiscal variables and prove that the changes of financial stability index in Central and Eastern European countries can be explained by changes of fiscal variables. |
| Dissertation Institution |
Vilniaus universitetas. |
| Type |
Doctoral thesis |
| Language |
Lithuanian |
| Publication date |
2015 |
