STABILIZACJA CYKLU KONIUNKTURALNEGO W POLSCE ZA POMOCĄ NARZĘDZI POLITYKI FISKALNEJ
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Date
2004
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Wydział Prawa i Administracji UAM
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STABILISATION OF BUSINESS CYCLE IN POLAND WITH THE USE OF FISCAL POLICY TOOLS
Abstract
Business cycle, today interpreted as middle-run deviations from the main economic trend,
is one of the factors influencing dynamism of the economic process. However, as periods of
economic recession and recovery bring about many harmful effects for economic growth, the
best option is to eliminate them or at least to flatten the business cycle. The governments of
the countries well-developed economically after WW II have taken measures to stabilise the
business cycle limiting of changes in current aggregate demand through public income and
spending policies.
Although the amplitude of business cycle fluctuations after WW II has decreased,
economists are divided in assessment o f the actual effectiveness of the governments’
actions. On the one hand, business cycle stabilisation is considered a positive result
of the state’s intervention in the economy. On the other hand, however, stabilization indicates
fiscal policy’s negative effects, such as public spending ousting private spending, or the creation
of a political business cycle.
In order to determine possible influence a fiscal policy may have on the stabilisation of
a business cycle, research was undertaken to investigate the relationship between public
spending/income policies and the business cycle in Poland in 1993-2003. It was observed that
variables referring to public income policy have a stronger influence on the reference cycle
that the values relating to public spending policy.
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Ruch Prawniczy, Ekonomiczny i Socjologiczny 66, 2004, z. 2, s. 145-161.
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0035-9629