Off-Budgetary Reasons of the Growing Public Indebtedness
Анотація
The interpretation of the relation between a budget deficit and a government debt in the standard economic theory is based on its unilateral causality, where the government debt comes into being due to the accumulation of budget deficits. The logic of the development of the government indebtedness is, in this approach, unambiguously determined by public finance processes monitored by Parliament in the framework of the course of fiscal years. The main objective of this paper is to stress that in reality the development of government indebtedness is significantly influenced by off-budgetary factors. The presented results endorse the hypothesis that the influence of stock-flow adjustment on the development of the debt/GDP ratio in a number of cases surpasses the influence of the budget balance. This trend significantly amplifies in the period of a financial crisis in context of the massive shift of the debt burden, occurring in the course of them.
Класифікація
Ідентифікатори
Рецензії (0)
Написати рецензіюРецензій ще немає. Будьте першим!
Схожі роботи
PUBLIC DEBT GROWTH DURING POST CRISIS PERIOD AND WAYS OF ITS STABILIZATION
Схоже за: Global Financial Crisis and Policies · Fiscal Policy and Economic Growth · Fiscal Policies and Political Economy
Influence of the External Public Debt on the Economic System of Different Countries
Схоже за: Global Financial Crisis and Policies · Fiscal Policy and Economic Growth · Fiscal Policies and Political Economy
WAYS TO ACHIEVE ECONOMIC BALANCE THROUGH FISCAL STABILITY IN THE COUNTRY
Схоже за: Global Financial Crisis and Policies · Fiscal Policy and Economic Growth · Fiscal Policies and Political Economy
POLICY TO CURB THE EFFECTS OF FRAGMENTATION OF THE GLOBAL ECONOMY
Схоже за: Global Financial Crisis and Policies · Fiscal Policy and Economic Growth · Fiscal Policies and Political Economy
FACTORS INFLUENCING THE TRANSFORMATION OF FISCAL MODELS AMID CONTEMPORARY GLOBAL CHALLENGES
Схоже за: Global Financial Crisis and Policies · Fiscal Policy and Economic Growth · Fiscal Policies and Political Economy
Monetary policy during the wartime: How to ensure macroeconomic stability
Схоже за: Global Financial Crisis and Policies · Fiscal Policies and Political Economy