scholarly journals Stock-Flow Adjustment – Only a Residual Value? Evidence from European Union Countries

e-Finanse ◽  
2019 ◽  
Vol 15 (3) ◽  
pp. 10-20
Author(s):  
Monika Banaszewska
Keyword(s):  
European Union ◽  
Public Debt ◽  
Budget Deficit ◽  
Fiscal Sustainability ◽  
The European Union ◽  
Fiscal Transparency ◽  
Flow Adjustment ◽  
European Union Countries ◽  
Stock Flow ◽  
The Empirical Analysis

AbstractThe aim of the article is to investigate the fiscal determinants of stock-flow adjustment (SFA). Previous literature suggests that SFA may be used strategically to reduce budget deficit and public debt. As such, SFA impairs fiscal transparency and may endanger fiscal sustainability. Therefore, special attention should be paid by economists and policymakers. The study pertains to the European Union countries in the years 2005-2016. The empirical analysis supports the hypothesis that SFA is inversely related to public debt, whereas the inverse relationship between budget balance and SFA is not confirmed. The article contains additional analyses for selected components of SFA as well as narrower time and space coverage.

scholarly journals General government deficit and public debt in EU member states

2011 ◽  
Vol 2 (4) ◽  
pp. 29-41
Author(s):  
Michał Wielechowski
Keyword(s):  
European Union ◽  
Public Debt ◽  
Budget Deficit ◽  
The European Union ◽  
Member States ◽  
Public Finances ◽  
Eu Member States ◽  
General Government ◽  
Government Deficit ◽  
The Eu

The aim of this article is the presentation and the attempt to analyse such phenomena as: an excessive general government deficit and public debt in EU Member States over the past 3 years. For the European Union the years 2008-2010 were the time when public finances of most member countries worsened dramatically. The average budget deficit in the EU increased during that period to a value of almost 7% compared to gross domestic product and public debt reached almost 80% of GDP. Referring the numbers to the principles of the budgetary policy in the Treaty on the European Union (the deficit should not exceed 3% in relation to GDP and public debt – 60% of GDP), the observance of budgetary discipline has been significantly violated. In consequence, the excessive deficit procedure has been initiated. in relation to almost all the countries of the EU, Its purpose was to force the member countries to take concrete actions to stabilize public finances. The economic crisis that began in the second half of 2007 in the United States of America which resulted in a significant deterioration of the finances of all the EU member countries might be regarded as the major source of violation of their budgetary discipline. The reactions of most governments TO the harmful effects caused by the financial crisis were to stimulate national economies and stem the decline of domestic demand. The higher level of public expenditures was simultaneously the cause of increased budget deficits,. To develop and present the problem of an excessive budget deficit and public debt in the EU countries some statistical methods were used and the data source statistics were mainly carried out by the European Commission and the European Statistical Office.

scholarly journals Linking Public Finances’ Performance to Renewable-Energy Consumption in Emerging Economies of the European Union

2021 ◽  
Vol 13 (11) ◽  
pp. 6344
Author(s):  
Nicoleta Mihaela Florea ◽  
Roxana Maria Bădîrcea ◽  
Georgeta-Madalina Meghisan-Toma ◽  
Silvia Puiu ◽  
Alina Georgiana Manta ◽  
...  
Keyword(s):  
European Union ◽  
Sustainable Development ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Emerging Economies ◽  
Public Debt ◽  
Budget Deficit ◽  
The European Union ◽  
Renewable Energy Consumption ◽  
Public Finances

Implementing public policies linked to sustainable development is a global challenge for most countries that focused their efforts on identifying and improving the factors that led to environment degradation. The current paper analyzes the influence of primary indicators of public finances (public debt and budget deficit) on renewable-energy consumption (REN), for the emerging economies within the European Union. The main objective of this research is to understand the implications of fiscal measures on the sustainable development of a country and thus provide directions for stimulating renewable-energy consumption. The research starts with cross-sectional dependence analysis by using the Breusch–Pagan Lagrange multiplier (LM) test that is followed by cointegration relationships among variables by applying two appropriate panel-cointegration tests (Pedroni and Johansen). The research methodology is based on the fully modified ordinary-least-squares (FMOLS) method in order to test the long-run relationships, and on the pairwise Granger causality test in order to identify the direction of causality among variables. Results show unilateral influences from public debt and budget deficit on the analyzed variables, especially on renewable-energy consumption, and a bidirectional causality relationship between budget deficit and trade openness.

scholarly journals System finansowania programów operacyjnych w Polsce – implikacje dla stanu finansów publicznych

2012 ◽  
pp. 47-76
Author(s):  
Agnieszka Kłos
Keyword(s):  
European Union ◽  
Public Debt ◽  
Budget Deficit ◽  
The State ◽  
The European Union ◽  
Public Finances ◽  
The Public ◽  
Structural Funds ◽  
Eu Structural Funds ◽  
The Way

The article is devoted to the issue of financing of operational programs implemented in Poland in the European Union’s financial perspectives 2000–2006 and 2007–2013. Polish membership in the European Union gives the opportunity to obtain additional funds but the possibility of absorption involves costs which Poland has to bear. The author attempts to assess the way in which Poland’s adopted systems for operational programs implemented with the participation of EU structural funds influenced the state of the public finances. System solutions used in Poland have implications for two key measures of the state of public fi nances such that is public debt and budget deficit.

scholarly journals Public Debt and Economic Growth in the European Union. Empirical Investigation

2021 ◽  
Vol 18 ◽  
pp. 199-208
Author(s):  
Piotr Misztal
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Economic Development ◽  
Public Debt ◽  
Budget Deficit ◽  
Negative Impact ◽  
Foreign Debt ◽  
Budget Deficits ◽  
The European Union ◽  
The Impact

The relatively high sizes of public debts in many of the world's member states have led to frequentdebates concerning the influence of public debt on economic growth. Analyzing economic literature it can beseen, that theoretical and empirical considerations on this topic are divided into three main parties. The firstpart of analyzes is the work of the Keynesians, which emphasizes that the budget deficit as well as the publicdebt positively affects the economic development of the country, mainly through the impact of the budgetexpenditure multiplier. The opposite view on budget deficits and public debt is represented by the neoclassicalschool, who argue that the budget deficit and public debt can have negative impact on economic growth.Conversely, proponents of the Ricardian equivalence concept believe that budget deficits and public debt areneutral for economic growth. These three mentioned above approaches to the budget deficit and public debtproblem have led to many debates at home and abroad about the importance of budget deficit and public debt inthe process of economic growth and economic development of the country. The main objective of the study isto determine the impact of the foreign debt and home debt on economic activity of the country, based on theexample of the 27 member countries of the European Union (without United Kingdom) in the period 2006-2017. The statistics came from the European Statistical Office (Eurostat) and International Monetary Funddatabase (World Economic Outlook).

scholarly journals Green jobs in the European Union countries – an empirical study

2016 ◽  
Vol 2 (319) ◽  
Author(s):  
Barbara Fura ◽  
Marek Fura
Keyword(s):  
European Union ◽  
Regression Model ◽  
Explanatory Variable ◽  
The European Union ◽  
Green Jobs ◽  
Research Results ◽  
Europe 2020 ◽  
European Union Countries ◽  
The Empirical Analysis ◽  
The Eu

The article presents research results on the analysis of green jobs in the European Union countries with respect to selected indicators characterizing the member states. For the empirical analysis a regression model was applied. As a dependent variable a number of jobs in the renewable energy sector in 2012 per million inhabitants of the countries was used. In the linear regression model the explanatory variable was a share of expenditure on R&D in GDP [%]. Studies show that the increase in research and development expenditures have a real, measurable impact on the availability of green jobs in the EU countries. Research results were presented on the background of the strategy “Europe 2020”.

Constitutional and Legal Restrictions in the European Union Countries in the Context of the COVID 19 Pandemic

2020 ◽  
pp. 92-97
Author(s):  
A. V. Kuznetsov
Keyword(s):  
European Union ◽  
Human Rights ◽  
Comparative Analysis ◽  
International Law ◽  
The European Union ◽  
Eu Countries ◽  
European Union Countries ◽  
Legal Restrictions ◽  
Restrictive Measures ◽  
The Eu

The article examines the norms of international law and the legislation of the EU countries. The list of main provisions of constitutional and legal restrictions in the European Union countries is presented. The application of the norms is described Human rights conventions. The principle of implementing legal acts in the context of the COVID-19 pandemic is considered. A comparative analysis of legal restrictive measures in the States of the European Union is carried out.

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