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Liczba wyników
2016 | 70 nr 5 Przemiany strukturalne w jednostkach sektora publicznego | 111--124
Tytuł artykułu

Fiscal Consolidation Used as a Way to Stabilise Public Budgets - A Perspective from the Level of Subnational Governments

Warianty tytułu
Konsolidacja fiskalna jako sposób stabilizowania budżetów publicznych. Perspektywa jednostek szczebla samorządu terytorialnego
Języki publikacji
EN
Abstrakty
EN
This paper outlines the current data about the subnational government's fiscal position and points out the issue and role of fiscal consolidation in the process of deficit and debt reduction at a subnational government level. The theoretical framework of fiscal consolidation has been presented in detail. The policies and instruments of fiscal consolidation have also been mentioned within the paper. In addition, the fiscal consolidation instruments and rules have been discussed. The aim of the paper is to highlight and diagnose the importance of fiscal consolidation after the financial crisis of 2008, and to highlight the factors contributing to successful fiscal consolidation. This manuscript presents the issues for Organisation for Economic Co-operation and Development (OECD) countries during the years 2010-2016. The study uses methods such as the critical analysis of literature, observations, case studies, and logical reasoning.(original abstract)
W artykule przedstawiono aktualne dane i problemy dotyczące sytuacji budżetowej na szczeblu samorządowym oraz zwrócono uwagę na rolę konsolidacji fiskalnej w procesie redukcji deficytu i długu na poziomie samorządowym. W szczególności odniesiono się do teoretycznych ram konsolidacji fiskalnej oraz omówiono towarzyszące jej zasady i instrumenty. Celem artykułu jest wskazanie na rolę konsolidacji fiskalnej w stabilizowaniu budżetów publicznych po kryzysie finansowym z 2008 r. oraz zwrócenie uwagi na determinanty udanej konsolidacji fiskalnej. Zagadnienie zaprezentowano posługując się przykładem krajów OECD w latach 2010-2016. W badaniu wykorzystano metody, takie jak krytyczna analiza literatury, metoda obserwacji, analiza przypadków i rozumowania logicznego.(abstrakt oryginalny)
Twórcy
  • University of Szczecin
Bibliografia
  • Afonso A., Jalles J.T., 2012, Measuring the success of fiscal consolidations, Applied Financial Economics, 22, 1053-1061.
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  • Alesina A., Favero C.A., Giavazzi F., 2015, The output effect of fiscal consolidation plans, Journal of International Economics, 96, 19-42.
  • Alesina A., Perotti R., 1997, Fiscal Adjustments in OECD: Composition and Macroeconomic Effects, IMF Staff Papers, 44(2), 210-248, Washington: International Monetary Fund.
  • Alesina A., Perotti R., 1995, Fiscal Expansions and Adjustments in OECD Economies, Economic Policy, 21, 207-248.
  • Ardagna S., 2004, Fiscal stabilizations: When do they work and why, European Economic Review, 48(5), 1047-1074.
  • Attinasi M.G., Metelli L., 2016, Is fiscal consolidation self-defeating? A panel-VAR analysis for the euro area countries, European Central Bank, No 1883.
  • Blöchliger H., 2011, Fiscal Consolidation at the Sub-central Government Level, paper prepared for the annual meeting of the OECD Network on Fiscal Relations across Levels of Government, COM/CTPA/ECO/GOV(2011)4, Paris: OECD.
  • Engen E., Skinner J., 1996, Taxation and Economic Growth, National Tax Journal, 49, 617-642.
  • Estevão M., Samake I., 2013, The Economic Effects of Fiscal Consolidation with Debt Feedback, IMF Working Paper, www.imf.org/external/pubs/ft/wp/2013/wp13136.pdf [access: 2.07.2016].
  • Eyraud L., Weber A., 2012, Debt Reduction during Fiscal Consolidations: The role of Fiscal Multipliers, paper presented at the IMF surveillance meeting seminar of April 10.
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  • Hernández de Cos P., Moral-Benito E., 2013, What Drives a Successful Fiscal Consolidation?, Applied Economics Letters, 20(8), 748-753.
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  • Hudson R., 1997, Long-term care: The new risks of old age, Challenge, 40, 105-107.
  • IMF, 2010, Will It Hurt? Macroeconomic Effects of Fiscal Consolidation, www.imf.org/external/ pubs/ft/weo/2010/02/pdf/c3.pdf [access: 2.07.2016].
  • IMF, 2015, Report on Fiscal Policy and Long-Term Growth, IMF Policy Paper, www.imf.org/external/ np/pp/eng/2015/042015.pdf [access: 2.07.2016].
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  • Larch M., Turrini A., 2011, Received wisdom and beyond: lessons from fiscal consolidation in the EU, National Institute Economic Review, 217, 1-18.
  • Lassen D.D., 2010, Fiscal Consolidations in Advanced Industrialized Democracies: Economics, Politics, and Governance, Studier i Finanspolitik, 4.
  • McDermott, J., Wescott, R., 1996, An empirical analysis of fiscal adjustments, IMF Working Paper 96/59.
  • OECD, 2011, Fiscal consolidation: targets, plans and measures, Journal on Budgeting, 11(2), 5-57.
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  • Riley J., Chote R., 2014, Crisis and consolidation in the public finances, European Central Bank, Working Paper 7, 2-3.
  • Schaechter A., Kinda T., Budina N., Weber A., 2012, Fiscal Rules in Response to the Crisis - Towards the "New Generation" Rules a New Dataset, International Monetary Fund Working Paper 12/18.
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Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
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