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  1. 1 Ekonomista

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  1. 1 Krajewski P.

  2. 1 Mackiewicz M.

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  1. 1 2007

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Fiscal Policy's Long-term Influence on Investment Rate

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Krajewski P., Mackiewicz M.
Ekonomista
|
2007
|
issue 2
181-198
EN
The study aimed at establishing the long-term influence of fiscal policy on investments in fixed assets. A cross-sectional sample of data covering 27 countries during 1960 - 2003 was used. It was found that an increase in deficit equal to 1 % of GDP decreases investments by 0.3 % of GDP, while 1 % increase in revenue of public finance sector corresponds to a decrease in investments equal to 0.2 % of GDP. The study results suggest that both, expansive fiscal policy, as well as the increase of the share of public sector in the economy, correspond, as a rule, to a reduction in long-term asset accumulation, which in turn, might negatively affect economic growth in longer perspective.
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