Fiscal Sustainability and Financial Stability – Challenges and Experiences during a Time of Financial Crisis
Journal Title: Zeszyty Naukowe Wyższej Szkoły Bankowej w Poznaniu - Year 2016, Vol 70, Issue 5
Abstract
The public finance sector is an element of the economic system which increasingly feels the negative impact of the current financial crisis and has been paying dearly for it. Therefore, developing and implementing an appropriate strategy in the field of fiscal policy, and preserving the stability of the public finance system becomes a challenge for many governments and public institutions in the whole world. The purpose of this article is to present the substance, role, and importance of fiscal sustainability and financial stability in a changing financial and economic environment due to the financial crisis. The author attempts to prove that in the post-crisis reality fiscal sustainability is one of the elements of financial stability, which in turn is the basis for long-term economic growth and obtaining social benefits. Policy makers and representatives of the public should, first and foremost, strive to maintain financial stability, including financial stability in the public sector.
Authors and Affiliations
Agnieszka Alińska
Keywords
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