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CNAA / Theses / 2006 / June /

Public financial equilibrium at the macroeconomic level

Author: Anjela Baurciulu
Degree:doctor of economics
Speciality: 08.00.10 - Finance; Monetary Economics; Credit
Scientific adviser: Ludmila Cobzari
doctor habilitat, professor, Academy of Economic Studies of Moldova
Scientific council:


The thesis was presented on the 23 June, 2006
Approved by NCAA on the 28 September, 2006


Adobe PDF document0.33 Mb / in romanian


CZU 336.13: 338.1: 330.101.541 (478)(043)

Adobe PDF document 1.13 Mb / in romanian
190 pages


budget allocation, state budget, local budget, consolidated budget, national budget, budgeting, budgetary classification, national accounts,public expenses, budget disequilibrium, financial disequilibrium, deficit, budget balance, financial balance, finance, budgetary funds, financial flows public institutions, macro budgeting, optimization procedure, budgetary policy, budgetary process, budgetary planning, budgetary reform, budgetary relations, budgetary system, financial system, public sector, treasury, transfer, public revenue


The quality of the public financial system can be ensured through an efficient implementation of the macroeconomic policy and structural reforms, as well as by establishing clear rules, procedures and administrative techniques able to manage efficiently the budgetary process of the public resources.

In the Paper the author develops fundamental concepts with regard to public financial equilibrium and public sector budgeting. In order to identify the role of the public financial equilibrium as precondition for an economic growth, different theoretical approaches of economic concepts as well as the information on developed countries' budget structures and macro-budgetary policies has been analyzed.

In the Paper were also analyzed the effects of the macroeconomic policies during the 1991-2005 time period on public financial equilibrium, the correlation between different economic phenomenon underlining the implication on cyclical fluctuations registered in the economic system of our country. The author identifies the consequences of the fiscal policy on the evolution of public financial equilibrium through a vast analysis of the structure and trends of the financial resources, as well as on the efficiency of the public expenditures management. The differentiation of the elements of the structural and vertical equilibrium of the budgetary system allows the identification of immediate and long term actions for optimizing the inter-budgetary relations.

During the performed research the interconnection between public financial equilibrium and national accounts system has been underlined with the goal of macroeconomic forecasts' elaboration. For the purpose of the budget equilibrium policy elaboration a mathematic module were designed. The module will allow to have a clear vision on financial flows from the budgetary system with a prospective for the decision making process' optimization.

The conclusions and recommendations of the author can be applied in the practical activity of the ministries, departments public bodies involved in the decision making process regarding regulatory and fiscal reforms. The results of the research are a good methodological and bibliographic support in the training and didactical process within high education entities.