Czy reguły fiskalne są potrzebne?

Agnieszka Krzemińska

Published : 2006-12-30

Vol. 19 (2006)

Are Fiscal Rules Necessary?

Agnieszka Krzemińska

Abstract

The paper aims to answer the question whether fiscal rules, construed of as convergence criteria, are needed. Consequently, emphasis is placed on the role and functioning of budgetary principles across the Euro zone, the justification for having them, and their impact on budgetary policies pursued by EU Member States. The first chapter presents the reasons for laying down rules that enforce constraints on budget policy. The subsequent chapter discusses the existing principles of fiscal policy at the EU level and their fundamental economic rationale. The third chapter concentrates on the condition of public finances in the Member States over the period spanning from 1991 to 2005, with a view to examining the efficiency of fiscal rules in imposing restrictions on public finance. An overview of the budget deficit and public debt in the new Member States follows. The fourth chapter addresses the reform of the Stability and Growth Pact and its consequences for future fiscal policy. Finally, the paper brings forth some conclusions on the necessity to apply budget discipline throughout the Economic and Monetary Union. (original abstract)

Keywords:

Budgetary policy, Financial policy, Public finance, Public debt, Stability and Growth Pact (SGP), Fiscal rules

Are Fiscal Rules Necessary?

Agnieszka Krzemińska

Abstract

Keywords:

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