The budgetary imbalances and the economic growth
Journal Title: Zarządzanie i Finanse - Year 2013, Vol 11, Issue 2
Abstract
This article focuses on the budgetary imbalance in relation to economic growth. It provides an overview of the literature and research on the subject. In the final part of the work, was presented an analysis of the impact of cyclic component on a economic growth by the example of the Polish, in the years 2003–2012. The aim of this study was to show „the scale of the impact of cyclical fluctuations on fiscal imbalances due to the methodology for calculating the cyclical component”. Two methods were used to calculate the cyclical component: the method based on production function and the method based on trend GDP. During the period 2003–2012 the cyclical factor slightly shaped fiscal imbalances (from a few to several percent), regardless of the estimation method used. However, during an extremely high of economic growth, percentage of the cyclical component in the budgetary balance exceeded 50%. Budgetary imbalances in Poland is mainly structural. The possibility of limiting the budget deficit may increase in future years if Poland carries out restrictive State policies in the near future.
Authors and Affiliations
Iwona Wojciechowska-Toruńska
Keywords
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