BazEkon - Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie

BazEkon home page

Meny główne

Autor
Wiliński Witold (Warsaw School of Economics, Poland)
Tytuł
Changes in the fiscal policy of EU states after the 2008 crisis
Źródło
International Journal of Management and Economics, 2019, vol. 55, nr 1, s. 52-65, wykr., tab., aneks, bibliogr. 27 poz.
Zeszyty Naukowe / Szkoła Główna Handlowa. Kolegium Gospodarki Światowej
Słowa kluczowe
Polityka fiskalna, Zadłużenie, Dotacje, Podatki
Fiscal policy, Indebtedness, Grants, Taxes
Uwagi
Klasyfikacja JEL: H12, H63, H30, H25
summ.
Abstrakt
The aim of this article is an extensive presentation of the fiscal policy conducted by the EU states in the years 2008-2015. The analysis concerns the legal regulations introduced at the EU level by the European Parliament and the Council, as well as the fiscal policies of governments of particular states. The first part of the article analyzes basic macroeconomic data in EU states concerning the level of debt, the level of gross domestic product (GDP) redistribution, and the level of economic growth in the analyzed period. The second part discusses the legal acts adopted by the European Parliament and the Council (the so-called'sixpack' and the European Fiscal Compact), aimed at improving macroeconomic balance and ensuring supervision over the proper functioning of national finances. The third part analyzes the discretionary fiscal policies pursued in EU states. The main conclusions of this article are as follows: (i) EU countries recorded higher national debt levels and debt growth rates between 2008 and 2015 than most non-EU Organisation for Economic Co-operation and Development (OECD) countries; (ii) despite legal measures taken by the European Council and the European Commission in the form of the sixpack and the European Fiscal Compact, and despite discretionary fiscal measures such as in the form of the European Economic Recovery Plan, five EU countries (Cyprus, Greece, Italy, Portugal, and Spain) have experienced a steady increase in their national debt levels; and (iii) deep reforms in the composition and level of government expenditure are a prerequisite for reducing national debt levels and for achieving satisfactory economic growth in these countries.(original abstract)
Dostępne w
Biblioteka Szkoły Głównej Handlowej w Warszawie
Pełny tekst
Pokaż
Bibliografia
Pokaż
  1. Barro, R. (1979), On the determination of the public debt, The Journal of Political Economy, Vol. 87, No. 5, part 1, pp. 940-971.
  2. Collignon, S. (2013), Austerity versus growth: fiscal policy and debt sustainability, Social Europe Journal.
  3. Delivorias, A. (2014), Plenary Session 5/12/2014, European Parliament Analysis Office, Strasburg.
  4. Dzikowska, M., Gorynia, M., Jankowska, B. (2015), Globalny kryzys gospodarczy - próba pomiaru efektów dla poszczególnych krajów, Ekonomista, nr 6.
  5. European Commission. (2011), The effects of temporary State aid rules adopted in the context of the financial and economic crisis, Commission Staff Working Paper, Brussels.
  6. European Commission. (2013), COM (2014) 61, Communication from the commission to the European Parliament and the council on the application of Regulation (EU), No 472/2013.
  7. European Commission. (2014), COM (2014) 905, Opinion of the European Economic and Social Committee on the 'Communication from the Commission to the European Parliament, the Council, the European Central Bank, the European Economic and Social Committee and the Committee of the Regions - Economic governance review - Report on the application of Regulations (EU) No 1173/2011, (EU) No 1174/2011, 1175/2011, 1176/2011, 1177/2011, 472/2013 and 473/2013, Brussel.
  8. European Commission. (2016a), Press release Spring 2016 European semester package: commission issues country specific recommendations, Brussels.
  9. European Commission. (2016b), VAT rates applied in the Member States of the European Union, Brussels.
  10. Eurostat. (2015), Taxation trends in the European Union. Data for the EU Member States, Iceland and Norway, DG Taxation and Customs Union, Luxemburg.
  11. Hebous, S. (2009), The effects of discretionary fiscal policy on macroeconomic aggregates: a reappraisal, Goethe University Frankfurt, Frankfurt.
  12. Reinhart, C., Rogoff K. (2010), Growth in a time of debt, American Economic Review Papers and Proceedings.
  13. Trichet, J.C. (2013), International policy coordination in the Euro area: toward an economic and fiscal federation by exception, Journal of Policy Modeling, Vol. 35, pp. 473-481.
  14. Wilinski, W, (2013), Internationalization of central and eastern European countries and their firms in the global crisis, in: M. Marinov, S. Marinova, (Eds), Emerging economies and firms in the global crisis, Palgrave Macmillan.
  15. Eurostat: http://ec.europa.eu/eurostat/data/database
  16. Europa Lex: http://eur-lex.europa.eu/legal-contentPL
  17. OECD statistics: http://stats.oecd.org/
  18. Regulation (EU) No. 1173/2011 of the European Parliament and of the Council of November 16, 2011, on the effective enforcement of budgetary surveillance in the euro area.
  19. Regulation (EU) No. 1174/2011 of the European Parliament and of the Council of November 16, 2011, on enforcement measures to correct excessive macroeconomic imbalances in the euro area.
  20. Regulation (EU) No. 1175/2011 of the European Parliament and of the Council of November 16, 2011, amending the Regulation (EC) No. 1466/97 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies.
  21. Regulation (EU) No. 1173/2011 of the European Parliament and of the Council of November 16, 2011, on the prevention and correction of macroeconomic imbalances.
  22. Council Regulation (EU) No. 1177/2011 of November 8, 2011, amending the Regulation (EC) No. 1467/97 on speeding up and clarifying the implementation of the excessive deficit procedure.
  23. Council Directive 2011/85/EU of November 8, 2011, on requirements for budgetary frameworks of the member states.
  24. The Treaty on the Functioning of the European Union (TFEU).
  25. The Treaty on Stability, Coordination and Governance in the Economic and Monetary Union.
  26. European Central Bank: https://www.ecb.europa.eu/mopo/eaec/fiscal/html/index.en.html
  27. http://www.debtclocks.eu/eu-ranking-expenditure-on-interest-payments-in-percent-of-governmentrevenue.html
Cytowane przez
Pokaż
ISSN
2299-9701
Język
eng
URI / DOI
https://doi.org/10.2478/ijme-2019-0004
Udostępnij na Facebooku Udostępnij na Twitterze Udostępnij na Google+ Udostępnij na Pinterest Udostępnij na LinkedIn Wyślij znajomemu