Search results

1

The Role of Commercial Banks in Financing Debt of Local Government Units

100%

Żabka A., Hoza B.

Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej

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2019

|

issue 2

56-60

EN

The authors of the paper present the results of their research in the structure of resources used to cover financial deficit of institutions of public finance sector on central and local level. The authors also evaluate the consequences triggered by application of different methods of financing. The aim of the paper is to analyse the reasons of low activity of local government units in obtaining financial resources directly from the capital market as compared to the State Treasury and commercial enterprises. By means of tools used in comparative analysis the authors juxtapose the most important parameters of primary and secondary markets of long-term debt securities issued by local government units, the State Treasury and commercial enterprises.

2

Budget Problems in the EU with Focus on Austria

100%

Jindřiška Š., Michael A.

Littera Scripta

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2012

|

vol. 1

177-189

EN

This article deals briefly with the topical issue budget deficit in the EU, taking a closer look at Austria as well as it also marginally touches Euro zone and non-Euro zone countries. The attention is drawn to budget deficit, budget deficit in % of GDP. Next, the paper focuses on public debt level and the Maastricht criteria in connection with Euro introduction. Furthermore, the contribution brings up the link among nancial, bank and Euro zone crisis.

3

Kryteria fiskalne w procesie konwergencji Polski do wymogów UE

100%

Rzeczycka A., Golawska-Witkowska G.

Pieniądze i Więź

|

2012

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vol. 15

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issue 4(57)

160-169

EN

The accession of Poland to the structures of the EU became the beginning of operations which should result in its entry to the euro zone. Even at present, during the crisis of public finances, a number of authors sees the merits of continuing the efforts made in this area. However accession to the euro zone requires the fulfillments of the definite monetary, currency and fiscal norms of the convergence. Respecting these last allows assuring the stability of public finances. The care for the condition of public finances, in this respecting the norms of the convergence, becomes- in the face of the threat of the exit from the euro zone of Greece, and also other countries- the superior problem. The thorough analysis of the sources of the budget deficit and the ways of covering it becomes necessary. The purpose of this article is analysis of degree of adaptation of public finances in Poland to requirements designated in the fiscal convergence process within the context of countries just passing the violent crisis of public finances as Greece, Spain or Portugal, and functioning in the euro zone.

4

Analiza deficytu sektora finansów publicznych w Polsce w latach 2007-2012

100%

Budzyński T.

Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia

|

2014

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vol. 48

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issue 1

EN

The major problem of public finance system in Poland is the deficit of general government. Al- though budget imbalance is not a new case, the deficit has deepened, especially in 2009–2010. Poland has implemented partly successful fiscal consolidation, which is not aimed at promoting a growth- friendly approach to consolidation design. The fiscal consolidation is the spending based adjustment.

PL

Artykuł nie zawiera abstraktu w języku polskim

5

Budżet zadaniowy a efektywność wydatków publicznych

100%

Wieprzowski P., Wieprzowski P.

Pieniądze i Więź

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2012

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vol. 15

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issue 3(56)

88-94

EN

The article presents in a synthetic way the performance budget issue. In addition to the indication of the characteristics of this type of public financial management mechanism, literature studies, which aim was to show the mechanisms of efficiency in the management of budget expenditures, was carried out. The Authors made also an attempt to locate the performance budget issue in the perspective of integration with the euro area and the necessity of meeting the Maastricht criteria.

6

Emerging Capitalism in Poland Challenges and Dilemmas

100%

Hausner J.

Warsaw Forum of Economic Sociology

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2011

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vol. 2

|

issue 4

77-95

EN

This statement provides an account of an eventful period in the recent history of Polish social dialogue (2001-2005). The author shares his experiences and reflections from the time when he served as the Minister of Labour and the Deputy Prime Minister, as well as the head of the Tripartite Commission for Social and Economic Affairs. The statement heavily relies on the author's book 'Loops of development' (Pętle rozwoju) published in 2007. The author argues that while structural reforms are inevitable in societies in transition, such as Polish, they should be introduced with caution. The role of public institutions and their viability is also stressed out. As the author claims, social dialogue, albeit of undeniable value, is prone to serious deficiencies, especially, if it retains a specific corporatist profile (that is, supporting special interest groups), which was the case in Poland in the early 2000s.

7

The System of Funding Operational Programmes in Poland. Implications for Public Finance

100%

Kłos A.

Warsaw Forum of Economic Sociology

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2011

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vol. 2

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issue 4

97-139

EN

The paper explores the issue of funding the operational programmes effectuated in Poland based on the financial frameworks of the European Union for 2000-2006 and 2007-2013. The membership of Poland in the European Union provides an opportunity to receive additional funds, however the funds absorption also brings about costs. The author's aim is to evaluate the influence of the Polish systems of funding the operational programmes co-financed by the EU structural funds on the public finance. The systemic solutions implemented in Poland affect two basic macroeconomic parameters: public debt and budget deficit.

8

The Phenomenon of Twin Deficits in Poland in 2009–2018 : Research Paper

100%

Zawiślińska I., Cirin P.

Kontrola Państwowa

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2021

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vol. 66

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issue 3 (398)

180-199

EN

The purpose of this article is to determine the degree, direction and strength of the impact of the studied variables, i.e. the state budget balance and the current account balance as part of Poland’s balance of payments in the years 2009–2018 based on the data of the Statistics Poland. The main research questions focus on determining the type of relationships connecting the studied deficits and the degree, direc tion and type of interaction in light of previous studies dedicated to the hypothesis of twin deficits. The methodology used is based on inte grated correlation analysis, linear regression and an analysis of the co efficient of variation. As a result of the study, a strong correlation was found between the cumulative values of the examined deficits, con firming the existence of the twin deficit hypothesis in Poland in the examined period; this means that the budget deficit affects the current account balance of payments. The main balance stabilizing the negative balance of primary incomes, in which the income of non-residents from foreign direct investment is the dominant position, was the balance of extremely dynamically developing service exports.

9

Problem ukrytego długu publicznego w Polsce

100%

Kasperowicz-Stępień A.

Zeszyty Naukowe Uniwersytetu Ekonomicznego w Krakowie

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2013

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issue 907

33-41

EN

The largest problem facing Polish public finance today is the rapid growth in public debt and the attendant costs of servicing it. According to government calculations, in 2010 public debt reached 54.9% of GDP. Yet to the government calculations must be added hidden public debt, which actually measures 180% of GDP. This paper analyses the level of evident and hidden public debt in Poland.

10

Ocena zmienionego wniosku dotyczącego decyzji Rady w sprawie systemu zasobów własnych Unii Europejskiej

100%

Kulicki J., Szpringer Z., Jaśkowski M.

Zeszyty Prawnicze BAS

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2020

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issue 4(68)

122-133

EN

The purpose of the proposed decision is to raise the limit of the annual own resources in relation to the national income (GNI) of the EU Member States and to empower the Commission to borrow up to EUR 750 billion at 2018 prices on the capital markets on behalf of the EU. These borrowed funds would be dedicated solely to combating the consequences of the COVID-19 pandemic. According to the authors of the opinion, the proposal is valid and rational from the perspective of protection and development of the internal market as an important Community element and does not raise doubts as to its compliance with the principle of subsidiarity. Its compatibility with Article 310 TFEU may however be disputed.

11

ŹRÓDŁA FINANSOWANIA DEFICYTU BUDŻETOWEGO W SAMORZĄDZIE LOKALNYM

100%

Grzebielucha M., Giżyński J.

Przestrzeń, Ekonomia, Społeczeństwo

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2016

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issue 9/I

147-161

PL

Sposoby finansowania deficytu budżetowego w jednostkach samorządu terytorialnego podlegają reglamentacji prawnej. Ustawa o finansach publicznych zawiera zamknięty katalog możliwych źródeł. Przychody uzyskiwane z tych źródeł mają zróżnicowany charakter. W większości są to środki zwrotne. Zaliczamy do nich kredyty, pożyczki oraz wpływy z emisji papierów wartościowych. Natomiast nadwyżki z lat ubiegłych i wpływy z prywatyzacji majątku powyższych jednostek należą do własnych źródeł finansowania deficytu budżetowego. Należy podkreślić, iż podstawowymi źródłami finansowania deficytu są pożyczki i kredyty oraz środki z emisji obligacji komunalnych. W praktyce występują również przypadki finansowania deficytu ze źródeł nieprzewidzianych w ustawie o finansach publicznych, np. ze środków pieniężnych z rachunku sum depozytowych, z zakładowego funduszu świadczeń socjalnych bądź z części oświatowej subwencji ogólnej.

EN

Ways of financing budget deficit in local government units stem from the law. The Public Finance Act contains closed catalogue of possible financing sources. The revenues stemming from them have different character. They are mostly repayable funds. These include credits, loans and issuing securities. However, the excesses of funds from previous years and the privatization receipts from the above mentioned units are the own sources of financing budget deficit. It should be underlined that the basic sources of financing deficit are loans, credits and issuing municipal bonds. In practice there are also examples of financing local government deficits from other sources, not listed in the Public Finance Act, e.g. from the amount on deposit accounts, from the Company Social Benefits Fund or educational part of the general subsidy.

12

Determinants of the deterioration in China’s public finances in 2005-2018

100%

Twarowska K.

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

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2019

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issue vol. 63, nr 10

114-128

EN

The aim of the paper is to assess the condition of China’s public finances, identify the main factors that contribute to the increase in public debt, and to provide some suggestions that could be considered to improve the quality of public finances and reduce systemic risk. To achieve the objective of research the descriptive comparative method was used. The analysis was carried out for the period 2005-2018, however, due to the special conditions for the development of the Chinese economy, the background from previous years is also presented, as well as forecasts up to 2024. The analysis allowed to formulate conclusions, the most significant of which are that the main causes of China’s debt problem and the rising systemic risks are the effect of the global financial crisis and the change of the economic growth strategy to a strategy based on internal demand, which results in fiscal expansion. A particularly troubling development is the pace of growth in public debt, in particular the increase in local government debt and the increase in the share of short-term financing in external debt.

PL

Cele analizy stanowią ocena kondycji finansów publicznych Chin, identyfikacja głównych czynników, które przyczyniają się do wzrostu zadłużenia publicznego, a także wskazanie propozycji mogących służyć poprawie kondycji finansów publicznych i obniżeniu ryzyka systemowego. W badaniu wykorzystano metodę porównawczą opisową. Okres analizy obejmuje lata 2005-2018, jednak ze względu na szczególne uwarunkowania rozwoju chińskiej gospodarki uwzględniono lata wcześniejsze i prognozy do 2024 r. Przeprowadzone badanie pozwoliło sformułować wnioski. Najważniejsze mówią o tym, że głównymi przyczynami problemów związanych z zadłużeniem Chin są rosnące ryzyko systemowe, wpływ globalnego kryzysu finansowego i zmiana strategii wzrostu gospodarczego na strategię opartą na popycie wewnętrznym, co wiąże się z większą ekspansją fiskalną. Niepokojącym zjawiskiem jest tempo wzrostu zadłużenia publicznego, a w szczególności wzrost zadłużenia na poziomie lokalnym, a w zadłużeniu zewnętrznym wzrost udziału finansowania krótko-terminowego.

13

How Budget Deficit Impairs Long-Term Growth and Welfare under Perfect Capital Mobility

100%

Konopczyński M.

Central European Journal of Economic Modelling and Econometrics

|

2014

|

issue 3

14

Opinia na temat budżetowych kryteriów konwergencji sformułowanych w Pakcie na rzecz stabilności i wzrostu oraz w pakcie fiskalnym

100%

Łacny J., Szpringer Z.

Zeszyty Prawnicze BAS

|

2013

|

issue 2(38)

131-139

EN

The aim of the opinion is to answer the question whether the criteria of economic convergence relating to the condition of public finances in the member states, specified in both the Stability and Growth Pact (SGP) and the Fiscal Compact (formally, the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union) are identical or not. The EU member states participating in the European Monetary Union (EMU), and using the euro as their currency, as well as those member states which intend to join the EMU need to meet the convergence criteria (also known as Maastricht criteria). These include legal criteria related to independence of their national central banks, and economic criteria related to stability of prices, situation of public finances, currency exchange rates and long-term inter‑ est rates. The authors conclude that the reference values specified in the Stability and Growth Pact and in the Fiscal Compact are identical.

15

The influence of fiscal rules on the discipline in the public finance in Poland

100%

Ciak J. M.

Journal of Management and Financial Sciences

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2019

|

issue 36

31-43

EN

Fiscal rules constitute tools that match the characteristics of a transparent fiscal policy. Increasing the predictability of activities conducted within the public finance sector, which can limit politicians’ irresponsible behaviour, is of crucial importance. Fiscal rules may be preventative in nature – they can, therefore, prevent negative phenomena in the area of public finance now and in the near future. They become a kind of obstacle for potential inappropriate fiscal expansion, expenditure expansion in particular, of the public authorities, which could lead to too deep an imbalance between the liabilities of the state and the sources sufficient to cover its obligations. The trends in changes in the current public finance are supplemented by introducing fiscal rules or strengthening their role. The basic problem with fiscal rules is that in many cases they are leaky and are also not consistently observed. The aim of the article is to present a brief overview of national and supranational fiscal rules and reference to the existing situation in the public finance in Poland. The article presents the analysis of the source literature, legal acts and statistical data.

16

Geneza i skutki kryzysu finansów publicznych w Grecji

88%

Baran B.

Gospodarka Narodowa. The Polish Journal of Economics

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2011

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vol. 248

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issue 5-6

49-67

EN

The article traces the development of the budgetary situation in Greece since the early 1990s and aims to identify the main causes behind the public finance crisis in this country that began in 2009 and continued in 2010. The author discusses the most important implications of the crisis for the functioning of the euro area. The period covered by the analysis was divided into several subperiods: the period of 1990-1995, which saw the continuation of an expansionary fiscal policy initiated in the 1980s; the period directly preceding the country’s entry into the euro zone Jan. 1, 2001, marked by an improvement in Greece’s budgetary performance; the years after Greece’s entry into the euro zone and the return of the fiscal expansion policy; and the period when the country was forced to launch budgetary reforms. Greece’s current public finance problems are not only a direct effect of the global financial crisis, but also an outcome of domestic factors, which led to persistent economic problems in the country, including the loss of financial stability and decreased competitiveness. The following factors generate high budgetary expenditures and limit revenue in Greece (consequently leading to a high budget deficit and an escalation in public debt): low administrative efficiency, high operating costs of the public sector (high employment and a high level of wages in the public sector), excessive social spending, an inefficient pension system, an overregulated labor market and excessive regulation on markets for goods and services. Greece’s public finance crisis was therefore primarily provoked by structural problems that were evident still before the country joined the euro area and that have not been resolved since then. According to Baran, Greece met the budget deficit criterion for adopting the single European currency only because the country’s government artificially increased its revenues and resorted to statistical manipulation. Meanwhile, budget expenditures increased steadily, Baran notes, and an interest rate cut after the country’s euro-zone entry enabled public borrowing at a lower cost as internal problems accumulated due to abandoned reforms. The result was an explosion of the budget deficit and public debt in 2009. Fellow EU countries have decided to provide financial aid to Greece to maintain the stability of the euro and avoid a situation in which Greece’s problems would spill over to other member states, the author says. According to Baran, Greece is struggling with what is the most serious public finance crisis in this country since it joined the euro zone and adopted the single European currency in 2001. The country’s unresolved structural problems are the fundamental issue that underlies the crisis. Greece scores poorly in terms of competition and product market liberalization. The Greek economy has a low level of competitiveness due to labor market problems, an inefficient social security system and excessive public-sector employment. As a result, the government in Greece collects insufficient revenue and has high public expenditures, Baran notes. Fiscal consolidation has been based on higher revenues and lower interest payments since the mid-1990s. Despite powerful arguments for a radical domestic adjustment, all reforms have been marked by controversy and conflict between the government and its social partners.

17

Wpływ czynników politycznych na instrumenty i efekty polityki gospodarczej

88%

Działo J.

Gospodarka Narodowa. The Polish Journal of Economics

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2007

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vol. 216

|

issue 5-6

25-44

EN

The paper examines the impact of political factors on the instruments and effects of economic policy. The author analyzes several theoretical models to determine the ways in which politicians seek to influence the economy. The analysis comprises both “traditional” models based on irrational voter behaviors and “new-generation” models that assume that, after all, voters behave in a rational way. Traditional models include an “opportunistic political cycle” model developed by Nordhaus and a “partisan cycle” model developed by Hibbs. Both these models are based on “the Phillips curve.” Under the Nordhaus model, before parliamentary elections, the economy tends to grow fast and employment remains low; then, as election day approaches, inflation tends to rise. After the elections, the economy usually displays a recessionary trend. This pattern does not depend on the political orientation of those in power. On the other hand, under the Hibbs partisan model, there are differences in the inflation/unemployment pattern depending on the political orientation of the ruling party in terms of whether it is rightist or leftist. New-generation models assume that voters behave in a rational manner and cannot be “fooled” all the time. The assumption of rationality reduces the extent and likelihood of regular political cycles, although it does not eliminate them, the author says. Instead of regular multi-year electoral cycles, there are short electoral cycles that involve monetary and fiscal policy instruments rather than economic policy outcomes.

18

First borrowing period at Ottoman Empire (1854-1876): Budget policies and consequences

88%

Ozekicioglu S., Ozekicioglu H.

Business and Economic Horizons

|

2010

|

vol. 3

|

issue 3

28-46

EN

The financial troubles of Ottoman Empire which started in 16th century reached its ultimate point in 19th century. The Ottoman Empire searching to get rid of these troubles directed towards making some reform activities during the Tanzimat Era. Some of the money needed for these reform activities was met via the external borrowings which the Ottoman Empire had applied reluctantly and then could not preclude. During the period of 1854-1876 which was included in the Tanzimat Era and called as the first borrowing period, the Ottoman Empire signed 15 external borrowing agreements totally. However, the loans received as a result of these agreements were not used properly and then the budget deficit could not be settled. At the end of these developments, a financial bankruptcy was experienced in the Ottoman Empire in 1876.

19

Problemy efektywnego zarządzania długiem samorządowym

88%

Otczyk G., Felis P.

Studia BAS

|

2021

|

issue 4(68)

171-194

EN

The article presents the issues of effective management of local government debt. Local government debt can be seen as an effect of accumulated budget inequality. The considerations in the article concern the analysis of the sources of financing the activities of local government units and the effectiveness of their use in the context of maintaining an appropriate level of liquidity and meeting statutory standards. For this purpose, financial data of local government units for the years 2010–2020 were examined. The study was enriched with the results of research on the budget policy of municipalities on which the authors worked in previous years. It made it possible to trace the tendencies in the field of debt policy in local government units and to establish the challenges faced by representatives of local government authorities.

20

Opinia na temat decyzji Komisji w sprawie wszczęcia, na podstawie rozporządzenia Parlamentu Europejskiego i Rady (UE) nr 1173/2011 w sprawie skutecznego egzekwowania nadzoru budżetowego w strefie euro, postępowania wyjaśniającego związanego z manipulowaniem danymi statystycznymi w Austrii

88%

Łacny J., Szpringer Z.

Zeszyty Prawnicze BAS

|

2016

|

issue 3(51)

91-98

EN

The European Commission expresses doubts as to the authenticity of the general government deficit and debt data provided to Eurostat by of Austria. The proceedings launched on its basis may result in improving the quality of statistical data on budget indicators in Member States. The document can also provide the basis for reflection for the Polish authorities regarding the need for strengthened control over local finance.

Refine search results

The Role of Commercial Banks in Financing Debt of Local Government Units

Budget Problems in the EU with Focus on Austria

Kryteria fiskalne w procesie konwergencji Polski do wymogów UE

Analiza deficytu sektora finansów publicznych w Polsce w latach 2007-2012

Budżet zadaniowy a efektywność wydatków publicznych

Emerging Capitalism in Poland Challenges and Dilemmas

The System of Funding Operational Programmes in Poland. Implications for Public Finance

The Phenomenon of Twin Deficits in Poland in 2009–2018 : Research Paper

Problem ukrytego długu publicznego w Polsce

Ocena zmienionego wniosku dotyczącego decyzji Rady w sprawie systemu zasobów własnych Unii Europejskiej

ŹRÓDŁA FINANSOWANIA DEFICYTU BUDŻETOWEGO W SAMORZĄDZIE LOKALNYM

Determinants of the deterioration in China’s public finances in 2005-2018

How Budget Deficit Impairs Long-Term Growth and Welfare under Perfect Capital Mobility

Opinia na temat budżetowych kryteriów konwergencji sformułowanych w Pakcie na rzecz stabilności i wzrostu oraz w pakcie fiskalnym

The influence of fiscal rules on the discipline in the public finance in Poland

Geneza i skutki kryzysu finansów publicznych w Grecji

Wpływ czynników politycznych na instrumenty i efekty polityki gospodarczej

First borrowing period at Ottoman Empire (1854-1876): Budget policies and consequences

Problemy efektywnego zarządzania długiem samorządowym

Opinia na temat decyzji Komisji w sprawie wszczęcia, na podstawie rozporządzenia Parlamentu Europejskiego i Rady (UE) nr 1173/2011 w sprawie skutecznego egzekwowania nadzoru budżetowego w strefie euro, postępowania wyjaśniającego związanego z manipulowaniem danymi statystycznymi w Austrii