Dilemmas of Fiscal Policy in Central and Eastern Europe (1995–2012)
DOI:
https://doi.org/10.15678/ZNUEK.2014.0932.0808Keywords:
development, economic growth, fiscal policy, public expenditureAbstract
The article discusses the effects of fiscal policy in five countries: Poland, the Czech Republic, Slovakia, Slovenia and Hungary. The analysis compares the rates of economic growth, including changes in per capita GDP expressed in terms of PPS, against the background of the overall level of economic activity, the country’s position on the Doing Business global ranking of economic freedom and the size of public revenue and expenditure. Obtaining optimal conditions for development requires the use in suitable proportions of state intervention and liberal principles. The countries that actively guide the processes of transformation and reform while pursuing a fiscal policy matched to the current level of development are the ones that achieve above average growth levels over a 15–20 year period.
Downloads
References
Dluhosch B., Zimmermann K. [2008], Adolph Wagner und sein „Gesetz”: einige spaete Anmerkungen, Diskussions papier nr. 85, 2008, Helmut Schmidt Universität Hamburg.
European Commission [2002], Public Finance in EMU 2002, Directorate-General for Economic and Financial Affairs, „European Economy”, nr 3, Brussels.
Wagner A. [1893], Grundlegung der politischen Ökonomie, 3. Aufl., Winter, Leipzig.
The World Bank and the International Finance Corporation [2014] Doing Business 2014. Understanding Regulations for Small and Medium-size Enterprises, 11th ed., World Bank Publications, Washington.
