Fiscal impulses influencing the development of the Polish agriculture in the period 2007-2015

Barbara Wieliczko ()

Rural Areas and Development, 2016, vol. 13, 14

Abstract: Fiscal policy affects the economy through numerous channels. Fiscal impulses are defined as changes in government budget balance resulting from changes in budget expenditure and taxation [Shinasi, Lutz 1991]. The interest of economist in assessing fiscal impulses and determining their short and long-term impact on the economy has been growing since the 90s of the previous century. The role of fiscal impulses, also referred to as fiscal stimulus, is sometimes also analysed at the sectorial level. However, agriculture has not been found as a popular research issue. This is partly related to the fact that the estimation of output is in this sector of the economy is subject to even greater uncertainly than in other sectors. Therefore, it is more advisable to measure input rather than output [de Castro et al., 2010]. In both the EU and global economy the period 2007-2015 was characterized by a serious financial and economic crises that led in numerous countries to introducing stimulus packages or austerity measures. In Poland the negative impact of the EU and global crises was not that significant therefore the introduction of special measures was limited. Yet, it is interesting to verify what were the fiscal impulses targeting the Polish agriculture and how they influenced the situation of this sector, which are the aims of this paper. The results show that the fiscal policy towards agriculture remained in the analysed period relatively stable and thus its impact on agriculture was limited. However, small fiscal adjustments observed can be classified as expansionary.

Keywords: Agricultural Finance; Financial Economics; Political Economy (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ags:erdnra:276114

DOI: 10.22004/ag.econ.276114

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