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Correlation Between Fiscal Rules and Sustainable Development of the Visegrad Group Countries (Korelacja miedzy regulami fiskalnymi a zrownowazonym rozwojem krajow Grupy Wyszehradzkiej)

Author

Listed:
  • Jens Hölscher

    (Burnemouth University)

  • Marta Postula

    (Warsaw University)

  • Agnieszka Alinska

    (SGH Warsaw School of Economics)

  • Jaroslaw Klepacki

    (University of Warsaw)

Abstract

The research question presented in this analysis focuses on national fiscal rules applicable in the Visegrad Group (also called V4) expressed in the European standardised fiscal rules index and on their impact on the socio-economic policy. The use of fiscal rules as an instrument of fiscal sustainability is manifested by imposing requirements as regards borrowing and the costs of public debt service. A high level of debt can cause social development expenditure to be crowded out, contributing to growing development disparities in social and economic terms.

Suggested Citation

  • Jens Hölscher & Marta Postula & Agnieszka Alinska & Jaroslaw Klepacki, 2019. "Correlation Between Fiscal Rules and Sustainable Development of the Visegrad Group Countries (Korelacja miedzy regulami fiskalnymi a zrownowazonym rozwojem krajow Grupy Wyszehradzkiej)," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 17(83), pages 33-53.
    • Handle: RePEc:sgm:pzwzuw:v:17:i:83:y:2019:p:33-53
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    More about this item

    Keywords

    fiscal rules; sustainable development; public finance discipline; Visegrad Group;
    All these keywords.

    JEL classification:

    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • G01 - Financial Economics - - General - - - Financial Crises
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • P34 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Finance
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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