 THE FINANCIAL DISCIPLINE - A FACTOR OF ECONOMIC GROWTHStanciu Dorica ()
Annals of Faculty of Economics, 2013, vol. 1, issue 2, 263-271 Abstract: Abstract: We have considered that the paper can be structured in five chapters meant to bring light, as much as possible, on the tight relation between financial discipline and economic growth, the role and place of financial discipline as an important factor of economic growth, in the same time having propositions which will generate a different approach of financial discipline and will contribute to a beneficial finality for the society. Currently, the economic growth is considered a synthetic expression of the chances to have a better life and, that is why it represents a major macroeconomic policy objective. The economic growth is interpreted as an ascending positive evolution of macroeconomic results. Economic growth consists in the quantitative increase of activities and their results considering the entire national economy, in a close relation with the factors contributing to this increase. The economic growth is expressed by the dynamics of macroeconomic indexes of the results of the activity in real terms, that is GDP, GNP and NI. For the macroeconomic dynamics is correlated with the demographic dynamics, the variation of macroeconomic indexes is frequently reported to the variation of total population. Thus, the economic growth is measured synthetically through the growth pace of GDP, GNP and NI per total and per inhabitant. In all developed countries, the weight if direct taxes in the volume of fiscal revenue represents from 70% in the EU to 85% in the USA, which shows the importance of the role this group of taxes has in forming budget revenues. The economic situation of a state can be positively or negatively influenced by direct taxes; they can hinder or give an urge to economic growth, achieving the regulating stimulation function of the development of economic processes. Considering Romania, one of the main economic problems is the insufficiency of investment resources allotted, these being the main factor contributing to economic growth, a situation when the increase of this allocation is appreciated as being one of the stateâ€(tm)s priority tasks. Keywords: financial discipline; economic growth; fiscality; taxes; VAT (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ora:journl:v:1:y:2013:i:2:p:263-271 Access Statistics for this article More articles in Annals of Faculty of Economics from University of Oradea, Faculty of Economics Contact information at EDIRC. |
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