Warianty tytułu
Fiscal Sustainability of the Visegrad Group Countries and the Global Economic Crisis of 2007-2011
Języki publikacji
Abstrakty
Przemysław Włodarczyk w swym artykule pt. "Stabilność fiskalna krajów Grupy Wyszehradzkiej a światowy kryzys gospodarczy lat 2007-2011" dokonał oceny wpływu globalnego kryzysu na stan budżetu państwa w krajach Grupy Wyszehradzkiej. Oprócz rozważań teoretycznych dotyczących stabilności fiskalnej przeprowadzono weryfikację tej koncepcji w krajach Grupy Wyszehradzkiej w oparciu o szereg wskaźników i testów. (fragment tekstu)
The global economic crisis of 2007-2011 led to a significant economic downturn in the Visegrad Group countries (Poland, Czech Republic, Slovakia and Hungary) and to the adoption of stimulating packages based on the expansive fiscal policy. It might have resulted in the serious deterioration of the fiscal stance in those countries. The aim of this article is analysis of impact of the global economic crisis on the fiscal stance of the Visegrad Group countries. The work consists of three parts. In the first of them the definition of fiscal sustainability and its basic theoretical aspects were presented. The second was devoted to the description of major indicators and econometric tests of fiscal sustainability. In the last of them fiscal sustainability of the Visegrad Group was verified empirically. The results show that only in Slovakia we observed the stabilization of fiscal stance in the period of 1995-2011. The situation was getting gradually worse in Czech Republic, Poland and Hungary. The goal of regaining fiscal sustainability will be one of the most important for all of these countries in the closest future. (original abstract)
Rocznik
Strony
313-331
Opis fizyczny
Twórcy
autor
- Uniwersytet Łódzki
Bibliografia
- W. H. Buiter, Fiscal Sustainability, praca zaprezentowana w Egipskim Centrum Studiów Ekonomicznych w Kairze 19 września 2004 r., s. 4.
- M. Uctum, M. Wickens, Debt and Deficit Ceilings, and Sustainability of Fiscal Policies: An Intertemporal Analysis, Oxford Bulletin of Economics and Statistics, 2000, vol. 62, nr 2, s. 197.
- K. Marchewka-Bartkowiak, Zarządzanie długiem publicznym. Teoria i praktyka państw Unii Europejskiej, Wydawnictwo Naukowe PWN, Warszawa 2008, s. 55.
- O. J. Blanchard, Suggestions for a New Set of Fiscal Indicators, OECD Department of Economics and Statistics Working Papers, April 1990, nr 79, s. 13
- O. J. Blanchard. J. P. Choraqui, R. Hagemann, N. Sartor, The Sustainability of Fiscal Policy: New Answer to an Old Question, OECD Economic Studies, Autumn 1990. nr 15, s. 11.
- U. Kosterna, Deficyt budżetu państwa i jego skutki ekonomiczne, Wydawnictwo Naukowe PWN, Warszawa 1995, s. 125-128
- S. Owsiak, Finanse publiczne. Teoria i praktyka, Wydawnictwo Naukowe PWN, Warszawa 2005, s. 295-296.
- R. J. Barro, U.S. Deficits Since World War I, "Scandinavian Journal of Economics" 1986, vol. 88, nr 1, s. 644.
- S. Fischer, The Economics of the Government Budget Constraint, Policy, Planning, and Research Working Papers. The World Bank, Office of the Vice President 1989.
- D. Romer, Advanced Macroeconomics, The McGraw-Hill Companies, New York 2006. s. 561.
- J. D. Hamilton. M. A. Flavin, On the Limitations of Government Borrowing: A Framework for Empirical Testing, "The American Economic Review" 1986, vol. 76, nr 4.
- D. W. Wilcox, The Sustainability of Government Deficits: Implications of the Present-Value Borrowing Constraint, "Journal of Money, Credit and Banking" August 1989, vol. 21, nr 3.
- B. Trehan, C. E. Walsh, Testing Intertemporal Budget Constraints: Theory and Applications to U.S. Federal Budget and Current Account Deficits, "Journal of Money. Credit and Banking" May 1991, vol. 23, nr2, s. 209-212.
- C. S. Hakkio, M. Rush, Is the Budget Deficit "Too Large"?, "Economic Inquiry" July 1991, vol. 29, s. 434-435.
- G. S. Maddala, Ekonometria, Wydawnictwo Naukowe PWN. Warszawa 2008, s. 619.
- A. Welfe. Ekonometria. Metody i ich zastosowanie, PWE, Warszawa 2009, s. 368.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171254941