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Pohledávky státu - destruktivní faktor fiskální politiky ČR
[State Receivables - Destructive Factor of the Czech Republic Fiscal Policy]

Author

Listed:
  • Karel Zeman

Abstract

The fundamental premise for the regular performance of economic policy, fulfilment of the revenues of the state budget and thus creating optimal conditions for efficient fiscal policy realization, is to minimize state receivables after maturity, as the theoretical planning of the revenue side of the state budget is irrelevant considering that tax payers and other entities fail to fulfil their liabilities towards the state, more precisely state budget, and conversely the state is not able to provide the approved income in the state budget. The objective of this paper is to: analyse the development of state receivables in years 2001-2014; identify the causes of the state receivables origin; test econometrically the dependence of formation of the state receivables after maturity on the economic cycle, the tax rate change and entry of the Czech Republic to the European Union; evaluate the results of the long-term research of implementation of an experimental model, during which the possibility of reaching incomparably higher efficiency was verified and proven in the management process of state receivables recovery; highlight this important negative determinant of the state fiscal policy. With regard to aforesaid, this text is structured in the following way. First, the author took into consideration the theories which are connected with surveyed matters, following by the characteristic and causes of state receivables development for the period of 1991 to 2014. The economic testing of dependence comes after. Next chapter characterizes the development of two experimental models for management process of recovery of state receivables after maturity, research results included. The last chapter provides all the research results, evaluates the economic policy significance of this destructive factor of fiscal policy and suggests some solutions.

Suggested Citation

  • Karel Zeman, 2016. "Pohledávky státu - destruktivní faktor fiskální politiky ČR [State Receivables - Destructive Factor of the Czech Republic Fiscal Policy]," Politická ekonomie, Prague University of Economics and Business, vol. 2016(3), pages 264-292.
    • Handle: RePEc:prg:jnlpol:v:2016:y:2016:i:3:id:1070:p:264-292
    DOI: 10.18267/j.polek.1070
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    References listed on IDEAS

    as
    1. Vito Tanzi & Howell H. Zee, 1997. "Fiscal Policy and Long-Run Growth," IMF Staff Papers, Palgrave Macmillan, vol. 44(2), pages 179-209, June.
    2. Buchanan, James M, 1987. "The Constitution of Economic Policy," American Economic Review, American Economic Association, vol. 77(3), pages 243-250, June.
    3. Barro, Robert J, 1990. "Government Spending in a Simple Model of Endogenous Growth," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 103-126, October.
    4. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    More about this item

    Keywords

    unpaid balances; transaction cost; taxes; regression analysis; receivables; implementation; economic and fiscal policy; econometric testing;
    All these keywords.

    JEL classification:

    • C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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