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Author
Lubiński Marek (Szkoła Główna Handlowa w Warszawie)
Title
Polityka fiskalna wobec kryzysu finansowego : próba oceny
Fiscal Policy at a Time of Financial Crisis : an Overview
Source
Gospodarka Narodowa, 2010, nr 9, s. 1-23, rys., tab., bibliogr. 60 poz.
Keyword
Kryzys finansowy, Polityka pieniężna, Cykl koniunkturalny, Polityka stabilizacyjna, Polityka fiskalna
Financial crisis, Monetary policy, Business cycles, Stabilisation policy, Fiscal policy
Note
summ.
Abstract
Celem opracowania jest ocena z perspektywy teoretycznej reakcji polityki fiskalnej na kryzys finansowy zapoczątkowany na przełomie lat 2006-2007 w Stanach Zjednoczonych, który przybrał następnie charakter globalny i przeniósł się na sferę realną, wywołując mniej lub bardziej energiczny odzew administracji, władz ustawodawczych i monetarnych większości krajów. (fragment tekstu)

The article aims to evaluate, in theoretical terms, the fiscal policyresponse to the international financial crisis that began in 2007. The evaluation is based on a debate on the stabilization policy conducted after World War II, and on views formulated in research reports during the latest crisis. The main conclusion is that the reaction of the authorities to the crisis contradicts previously formulated theoretical recommendations. The most visible sign was the extensive use of fiscal policy measures. Theoretical recommendations were disproved in practice, largely due to political considerations. The key drawback of fiscal intervention was the lack of an assessment of the long-term implications of the move, with uncertain short-term effects. According to Lubiński, the crisis became an excuse for an inconsiderate public policy that served politicians and private interest groups. In a dubious arrangement, financial institutions were supported at the expense of taxpayers, despite the lack of public approval. The role of the government should be to ensure the proper functioning of the financial system, instead of rescuing it in the event of difficulties, Lubiński says. Another problem is posed by unclear regulations for discretionary action. (original abstract)
Accessibility
The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics
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ISSN
0867-0005
Language
pol
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