scholarly journals Przejrzystość fiskalna a stabilność polskiego systemu finansów publicznych

2017 ◽  
pp. 31-44
Author(s):  
Elżbieta Malinowska-Misiąg
Keyword(s):  
Public Finance ◽  
Fiscal Policy ◽  
Significant Error ◽  
Fiscal Rules ◽  
Fiscal Transparency ◽  
Budgetary Institutions ◽  
Quality And Reliability ◽  
The Impact ◽  
Sector Data

The aim of the article is to verify the impact of fiscal transparency on the quality and reliability of public finance sector data which in turn are the basis for formulating conclusions on the effectiveness of fiscal policy and the sustainability of public finance. The article identifies and provides examples of the primary areas that impair fiscal transparency in Poland, particularly: the scope of public finance sector, the extra-budgetary institutions and fiscal rules. In conclusion the author underlines that the findings based on published budgetary data can be subject to a significant error.

The Impact of Nonpartisan Fiscal Institutions on Budgetary Delay

2020 ◽  
Vol 52 (3) ◽  
pp. 173-183
Author(s):  
Colin Emrich
Keyword(s):  
Public Finance ◽  
Fiscal Policy ◽  
Fiscal Institutions ◽  
Governmental Institutions ◽  
The Impact ◽  
The Relationship

Can the design of governmental institutions promote timely governance? This article investigates this question by examining the relationship between the design of fiscal institutions and budgetary delays across the fifty states. These budgetary offices are created by lawmakers to advance sound fiscal policy and sustainable public finance. This article argues that the unbiased information provided by nonpartisan budget offices minimize the likelihood of budgetary delay as well as lessen how long budgetary stalemate persists when a delay occurs. The findings suggest that nonpartisan fiscal institutions do not prevent budgetary delay but substantially reduce the duration of budgetary gridlock.

scholarly journals Fiscal Rules, Creative Accounting and Fiscal Transparency: An Evaluation on the Transition Economies

2015 ◽  
Author(s):  
İlter Ünlükaplan ◽  
Volkan Yurdadoğ ◽  
Ebru Canıkalp
Keyword(s):  
Public Finance ◽  
Good Governance ◽  
Fiscal Rules ◽  
Accounting System ◽  
Budget Deficits ◽  
The Public ◽  
Fiscal Transparency ◽  
Government Accounting ◽  
Creative Accounting ◽  
The Relationship

An anonymous idea is observed in the public finance literature that includes where fiscal rules, i.e numerical rules on the fiscal indicators, are strict and stringent, policy executives will have incentives to recourse to creative accounting implementations to overcome these numerical limits. Creative accounting is applied for demonstrating economic, especially fiscal indicators better than the originals to reach the necessary fiscal limit, even if they are primarily conducted by private firms. Many countries applied these illusory implementations to hide their reported budget deficits especially in the last global crisis period. With this manner, creative accounting violates the basic principles of governance in public finance. In this context, governments should have to establish statistical classification structure and government accounting system that aims to prevent creative accounting. With this dimension, fiscal transparency will prevent from creative accounting implementations. In this study, the relationship between fiscal rules and creative accounting on the public finance administration level will be determined and fiscal transparency suggestions that prevent these frauds in the economies will be evaluated. As a result, the practice of good governance in public finance should be implemented to provide financial transparency. In addition, the reforms about transparency in the legislation should be consider as an important proposal.

scholarly journals The Impact of Fiscal Rules on Fiscal Policy Volatility

2010 ◽  
Vol 13 (2) ◽  
pp. 205-231 ◽  
Author(s):  
Michał Brzozowski ◽  
Joanna Siwińska-Gorzelak
Keyword(s):  
Fiscal Policy ◽  
Fiscal Rules ◽  
The Impact

scholarly journals The impact of fiscal councils on the budgetary consolidation

2017 ◽  
Vol 6 (1) ◽  
pp. 15-23 ◽  
Author(s):  
Ante Žigman ◽  
Martina Jergović
Keyword(s):  
Fiscal Policy ◽  
Financial Crisis ◽  
Fiscal Rules ◽  
Easy Access ◽  
Finance Management ◽  
Time Period ◽  
Before And After ◽  
The Media ◽  
Short Time ◽  
The Impact

Fiscal councils are independent institutions that play an important role in execution of fiscal rules and budgetary discipline through their realistic and unbiased macroeconomic and budgetary analysis and projections. It is important that the fiscal councils have easy access to the media to ensure that their analyses reach the wider public, and influence creators of fiscal policy. This paper analyzes the influence of fiscal councils on budget balance and public debt in period before and after financial crisis. The member states that had functioning fiscal councils before the financial crisis, on average, manage their public finances better than those who founded them after the beginning of crisis. Additionally, supervision of the enforcements of fiscal rules from fiscal boards is already showing positive results in this short time period. Fiscal councils are extremely important to ensure a healthy basis for conducting fiscal policy and to decrease the influence of politics on public finance management.

scholarly journals The influence of fiscal rules on the discipline in the public finance in Poland

2019 ◽  
pp. 31-43
Author(s):  
Joalnta Maria Ciak
Keyword(s):  
Public Finance ◽  
Fiscal Policy ◽  
Statistical Data ◽  
Basic Problem ◽  
Fiscal Rules ◽  
Crucial Importance ◽  
Public Authorities ◽  
The Public ◽  
Near Future ◽  
Negative Phenomena

Fiscal rules constitute tools that match the characteristics of a transparent fiscal policy. Increasing the predictability of activities conducted within the public finance sector, which can limit politicians’ irresponsible behaviour, is of crucial importance. Fiscal rules may be preventative in nature – they can, therefore, prevent negative phenomena in the area of public finance now and in the near future. They become a kind of obstacle for potential inappropriate fiscal expansion, expenditure expansion in particular, of the public authorities, which could lead to too deep an imbalance between the liabilities of the state and the sources sufficient to cover its obligations. The trends in changes in the current public finance are supplemented by introducing fiscal rules or strengthening their role. The basic problem with fiscal rules is that in many cases they are leaky and are also not consistently observed. The aim of the article is to present a brief overview of national and supranational fiscal rules and reference to the existing situation in the public finance in Poland. The article presents the analysis of the source literature, legal acts and statistical data.

scholarly journals The impact of national fiscal rules and government effectiveness on the procyclicality of fiscal policy in the Asia-Pacific countries

2020 ◽  
Vol 9 (1) ◽  
pp. 35-43
Author(s):  
Chiung-Ju Huang ◽  
Yuan-Hong Ho
Keyword(s):  
Fiscal Policy ◽  
Emerging Economies ◽  
Generalized Method Of Moments ◽  
Government Expenditure ◽  
Fiscal Rules ◽  
Asia Pacific ◽  
Government Effectiveness ◽  
Advanced Economies ◽  
Fiscal Rule ◽  
The Impact

Fiscal rules are institutional approaches aimed at maintaining fiscal credibility and fiscal discipline and usually set a numerical indicator. Currently, there are two sources of fiscal rules. One is the International Monetary Fund (IMF) dataset that provides country-specific details on various characteristics of rules for 96 countries and the other is European Commission – numerical fiscal rules index that provides the fiscal rule index for 28 member countries. Because of the lack of fiscal rule index for the Asia-Pacific countries, the purpose of this study is to construct the fiscal rule index for 8 Asia-Pacific countries from 1996 to 2015 by using the IMF dataset. Then, this study utilizes the Panel Generalized Method of Moments and the constructed fiscal rule index to investigate the impact of fiscal rules and government effectiveness on the procyclicality of fiscal policy in 8 Asia-Pacific countries, classified as “advanced economies” and “emerging economies”. The empirical results show that fiscal rules and government effectiveness are effective in reducing the procyclicality of government expenditure only in advanced economies. Additionally, the interaction of fiscal rules and government effectiveness has a negative impact on the procyclicality of government expenditure for both advanced economies and emerging economies but the effect is not significant in emerging economies.

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