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The impact of fiscal rules on sustainable development of the Visegrad Group countries

Author

Listed:
  • Jens Hoelscher

    (Bournemouth University, Executive Business Centre)

  • Marta Postula

    (Warsaw University)

  • Agnieszka AliÅ„ska

    (Warsaw School of Economics)

  • JarosÅ‚aw Klepacki

    (University of Social Sciences, Poland)

Abstract

The research question presented in this analysis focuses on national fiscal rules applicable in the Visegrád Group, also called V4, Czech Republic, Hungary, Poland and Slovakia as expressed in the European standardised fiscal rules index and on their impact on the socio-economic policy, expressed by indicators relating to the condition of public finance, economic results and sustainability finance indicators. The use of fiscal rules as an instrument of fiscal sustainability is manifested by imposing the requirements as regards to borrowing and the costs of public debt service. A high level of debt can cause social development expenditure to be crowded out, contributing to growing development disparities in social and economic terms.

Suggested Citation

  • Jens Hoelscher & Marta Postula & Agnieszka AliÅ„ska & JarosÅ‚aw Klepacki, 2018. "The impact of fiscal rules on sustainable development of the Visegrad Group countries," BAFES Working Papers BAFES17, Department of Accounting, Finance & Economic, Bournemouth University.
    • Handle: RePEc:bam:wpaper:bafes17
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    More about this item

    Keywords

    fiscal rules; sustainable development; socio-economic policy;
    All these keywords.

    JEL classification:

    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • H6 - Public Economics - - National Budget, Deficit, and Debt

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