Quasi Fiscal Activities and Investments in Energy Sector (Case of Georgia)
Journal Title: Globalization and Business - Year 2016, Vol 2, Issue 2
Abstract
The mainstream hypothesis in the literature is that the countries of the for- mer Soviet Union use quasi-fiscal activities, in order to implicitly subsidize households. The aim of this paper is to test the hypothesis and analyze the quasi-fiscal subsidies and their effect on fiscal performance during 2010-2014, in case of Georgia. Using the end product approach I estimated the level of the quasi-fiscal activities and found that the level of QFAs in Georgia is significant. Moreover, in the paper it is shown that major subsidiaries are households, rather than private sector. Finally, sustainable fiscal adjustment is needed to eliminate the quasi-fiscal activities, which requires consolidation of accounting, financial control and reporting in the public sector with the policies that approximates actual and market prices
Authors and Affiliations
Irakli Shalikashvili
Keywords
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