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Przybylska-Kapuścińska Wiesława, Skopowski Michał
Niezależność banku centralnego a wyborczy cykl koniunkturalny
The Central Bank Independence and the Political Business Cycle
Zeszyty Naukowe / Akademia Ekonomiczna w Poznaniu, 2008, nr 103, s. 188-208
Słowa kluczowe
Banki centralne, Niezależność banku centralnego, Cykl koniunkturalny, Wahania koniunkturalne, Deficyt budżetowy
Central banks, Central bank independence, Business cycles, Business fluctuations, Budget deficit
Przeprowadzono analizę znaczenia niezależności banku centralnego dla deficytów budżetowych powstających w kontekście politycznego cyklu koniunkturalnego w ośmiu krajach. Wybrano kraje należących od niedawna do Unii Europejskiej.

Despite the fact that J. Maloney, A. C. Pickering, K. Hadri (2003) and B. Neyapti (2003) in their research tried to prove that the central banks independence is able to reduce negative effects of a political business cycle, such as higher budget deficit in the year of elections for example, the case of EU-8 countries suggest that their conclusions were not correct. Especially in Poland, the Czech Republic and Hungary the budget deficits were higher when the central bank was independent in a Maastricht Treaty sense. It seems that other institutional factors, like provisions related to making amendments to a budget draft or an exchange rate regime, are more important for reducing budget deficits. The Estonian case also confirms this conclusion. (original abstract)
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Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka Szkoły Głównej Handlowej w Warszawie
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
Biblioteka Główna Uniwersytetu Ekonomicznego we Wrocławiu
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  36. J. Zettermeyer, D. A. Citrin, Stabilization: Fixed Versus Flexible Exchange Rates, w: Policy Experiences and Issues in the Baltics, Russia, and Other Countries of the Former Soviet Union, ed. by D. A. Citrin, A. K. Lahiri, „IMF Occasional Paper" 1995 nr 133.
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