The impact of fiscal rules on sustainable development of the Visegrad Group countries
Authors: Holscher, J., Postula, M., Alińska, A. and Klepacki, J.
Conference: research seminar
Dates: 20 March 2018Abstract:
The research question presented in this analysis focuses on national fiscal rules applicable in the Visegrád Group, also called V4, Czech Republic, Hungary, Poland and Slovakia as expressed in the European standardised fiscal rules index and on their impact on the socioeconomic policy, expressed by indicators relating to the condition of public finance, economic results and sustainability finance indicators. The use of fiscal rules as an instrument of fiscal sustainability is manifested by imposing the requirements as regards to borrowing and the costs of public debt service. A high level of debt can cause social development expenditure to be crowded out, contributing to growing development disparities in social and economic terms.