Vazba korupce a hospodářské svobody na veřejné finance a investice nových členů EU

Corruption and Economic Freedom Links to Public Finance and Investment in New EU Members

Jan Hanousek and Evžen Kočenda

Politická ekonomie, 2011, vol. 2011, issue 3, 310-328

Abstract: We analyze corruption and economic freedom links to public finance and investment in new EU members. In terms of the public investment our results show that improvement in economic freedom is linked to increases in public investment while lowering of corruption is linked with increase or decrease with respect to public investment. As a complementary finding we show that increases in public investment are also linked with the ambiguous effect. In case of public finance our estimates suggest that debt usually decreases as economic regulation goes down while the effect on budget deficit goes both ways. On other hand, as corruption declines both budget deficit and debt decrease. Based on our results we generalize that measures taken to lower corruption and economic regulation should lead to improvements in fiscal position in most of the new EU member states.

Keywords: macroeconomic policy; economic freedom; corruption; public finance; public investment; convergence and integration in the EU; fiscal reforms; new EU members (search for similar items in EconPapers)
JEL-codes: E61 E62 F42 H50 H60 O11 (search for similar items in EconPapers)
Date: 2011
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DOI: 10.18267/j.polek.793

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