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Purpose: The pandemic of Covid-19 virus between 2020 and 2021, brought about limitations in proper functioning of economies not seen until that moment. These constraints were accompanied by a radical increase in public spending that was supposed to be financing measures shielding various industries and sectors, which were forced to put their activity on pause. The purpose of this article is to thoroughly analyze the impact of the Covid-19 pandemic on the stability of public finance in the face of increasing government spending as well as multiple pro-inflationary factors.
Design/methodology/approach: Sound public finance is one of the most crucial challenges for the economic policy system of every country no matter the level of the liberalization of their economies. This stability is commonly regarded as the indicator of a country's financial credibility which directly affects the capital markets. It translates into confidence or lack thereof in financial securities. Fading public trust in the economy of a country calls for raising interest rates which consequently increases the cost of public debt management. The methodology used in the publication is based on the analysis statistical sources and literature reports relating to the stability of public finances of UE countries during the pandemic of Covid-19.
Findings: Undoubtedly, the most important cognitive values included in the paper are the problem of the resilience of national public finances to external shocks and their ability to stabilise them in the long term.
Practical implications, originality and value: There is no doubt that the last few years have brought some of the greatest challenges in the history of the modern world economy, such as the Covid-19 pandemic and the ongoing war in Ukraine. Both of these factors have caused lasting damage to public finances and require new, creative measures to ensure stability and national security. These topics are undoubtedly very important from an economic and scientific point of view and should be the subject of further in-depth research.(original abstract)
Design/methodology/approach: Sound public finance is one of the most crucial challenges for the economic policy system of every country no matter the level of the liberalization of their economies. This stability is commonly regarded as the indicator of a country's financial credibility which directly affects the capital markets. It translates into confidence or lack thereof in financial securities. Fading public trust in the economy of a country calls for raising interest rates which consequently increases the cost of public debt management. The methodology used in the publication is based on the analysis statistical sources and literature reports relating to the stability of public finances of UE countries during the pandemic of Covid-19.
Findings: Undoubtedly, the most important cognitive values included in the paper are the problem of the resilience of national public finances to external shocks and their ability to stabilise them in the long term.
Practical implications, originality and value: There is no doubt that the last few years have brought some of the greatest challenges in the history of the modern world economy, such as the Covid-19 pandemic and the ongoing war in Ukraine. Both of these factors have caused lasting damage to public finances and require new, creative measures to ensure stability and national security. These topics are undoubtedly very important from an economic and scientific point of view and should be the subject of further in-depth research.(original abstract)
Rocznik
Strony
505--517
Opis fizyczny
Twórcy
autor
- The John Paul II Catholic University of Lublin
autor
- Pomeranian College in Starogard Gdańsk
Bibliografia
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Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171685690
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