FINANCING THE BUDGET DEFICIT ON THE CAPITAL MARKET

• Authors: Nawrot W.
• Languages of publication: PL

Abstracts

EN

In the most recent history of Poland, the budget deficit in 2002 hit a low of nearly 40 bilion zloties. In the years under inspection the rising deficit created an increased need for loans. One of the major sources of the budget financing is the issue of treasury bonds. The regularly rising budget deficit was accompanied by a regular increase in bonds' interest. Consequently, the high interest of treasury bonds raised the costs of acquiring financial means by companies issuing bonds and shares. It results from the fact that treasury bonds are regarded as securities of the lowest investment risk whereas companies shares are characterized by a higher risk.

Keywords

EN

BUDGET DEFICIT; INTEREST RATE; INVESTMENT RISK; TREASURY BONDS

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Uczelnia Łazarskiego. Oficyna Wydawnicza
• Journal: Myśl Ekonomiczna i Prawna
• Year: 2005
• Issue: 1(8)
• Pages: 35-57
• Document type: ARTICLE

Contributors

author

Nawrot W.

• W. Nawrot, c/o Wyzsza Szkola Handlu i Prawa w Warszawie, ul. Swieradowska 43, 02-662 Warszawa, Poland

Identifiers

CEJSH db identifier

06PLAAAA01132600