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FINANCING THE POLISH LOCAL ADMINISTRATION UNITS WITH BANK LOANS - THEORETICAL ASPECTS, ANALYSIS OF CURRENT STATE

100%

Marton-Gados K.

Myśl Ekonomiczna i Prawna

2005

issue 1(8)

58-89

The year 1999 marked the beginning of Poland's political system reform which was accompanied by the introduction of three-degree local administration system. Local administration units (countries, provinces and others) were equipped with properties. Legal entity, guarantees of independence and their own competences and budgets - mutually independent and separate State's Treasury. The Polish law. in accordance with the European Union law provides an opportunity to finance the local administration system from a variety of sources. The following paper concentrates on one of the methods of external finance for local administration units of repayable character: a bank loan. The aim of the paper is to locate a bank loan in a hierarchy of other forms of indebting and the evaluation of its actual use by the local administration units in Poland. The initial chapters of the paper are devoted to theoretical issues of finance and financial law. The body of the paper is of an empirical character, i.e. contains an analysis of the scope and volume of bank loans used by the local administration units in Poland. The database for the above mentioned analysis are the financial reports of the local administration units and banks, accumulated by the Ministry of Finance and the National Bank of Poland. The paper finishes with conclusions concerning the role of the bank loan in financing local administration units in Poland and an attempt to compare local administration finance with the patterns functioning in the European Union countries.

GIVING AND USING BANK LOANS IN THE LIGHT OF CERTAIN ECONIMIC THEORIES (Udzielanie i korzystanie z kredytów bankowych w swietle wybranych teorii ekonomicznych)

75%

Palasz-Bockowska K. B.

Pieniądze i Więź

2010

vol. 13

issue 2(47)

Economic theories explain the phenomena and processes occurring in the economy in different ways. However, the views of many historians of economic thought are converging in the role of credit in economic and social life. According to Keynes, the bank loan is a factor that stimulates domestic demand, increases the purchasing power of households. It enables producers to increase production, by increasing sales of manufactured goods. Schumpeter, for a change, in his deliberations dealt with the importance of lending for entrepreneurs and its impact on economic development. In his opinion, loans for economic purposes are creating new purchasing power and enable access to the stream of goods. The role of bank credits in the economy is significant due to the fact that they: - allow adjusting the financial needs of households to their incomes, - create an additional source of funding for the purchase of goods, - improve access to capital for financing business, - finance innovations, - contribute to the elimination of inefficient market traders and the reallocation of freed capital resources to more efficient spheres.

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1 Myśl Ekonomiczna i Prawna

1 Pieniądze i Więź

1 Marton-Gados K.

1 Palasz-Bockowska K. B.

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1 2005

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FINANCING THE POLISH LOCAL ADMINISTRATION UNITS WITH BANK LOANS - THEORETICAL ASPECTS, ANALYSIS OF CURRENT STATE

GIVING AND USING BANK LOANS IN THE LIGHT OF CERTAIN ECONIMIC THEORIES (Udzielanie i korzystanie z kredytów bankowych w swietle wybranych teorii ekonomicznych)