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

Jens Hoelscher (), Marta Postula (), Agnieszka Alińska () and Jarosław Klepacki ()
Additional contact information
Jens Hoelscher: Bournemouth University, Executive Business Centre
Marta Postula: Warsaw University
Agnieszka Alińska: Warsaw School of Economics
Jarosław Klepacki: University of Social Sciences, Poland

No BAFES17, BAFES Working Papers from Department of Accounting, Finance & Economic, Bournemouth University

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.

Keywords: fiscal rules; sustainable development; socio-economic policy (search for similar items in EconPapers)
JEL-codes: F4 H5 H6 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec and nep-tra
Date: 2018-03
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