THE DEBT CAP FOR PUBLIC FINANCE - THE CURRENT SITUATION IN THE CZECH REPUBLIC
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989592%3A15210%2F16%3A33159938" target="_blank" >RIV/61989592:15210/16:33159938 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
THE DEBT CAP FOR PUBLIC FINANCE - THE CURRENT SITUATION IN THE CZECH REPUBLIC
Original language description
In the long run, public budgets in a great majority of developed economies suffer from recurring deficits and an increasing public debt. However, the condition of public finance deteriorated even in times of economic conjuncture, so the onset of the crisis in 2008 caught most of the developed world without financial reserves, or the so-called fiscal cushion. Thus most EU countries now fail to fulfill both the Maastricht Convergence Criteria and the Fiscal Compact Treaty, even if these are binding legal norms of the EU. Despite this, some EU countries voluntarily accepted a sort of financial debt cap, which the government of the Czech Republic accepted in February 2015 in the form of the so-called financial constitution, which contains a whole range of mechanisms at all levels of public budgets and public expenditures with a public debt in the amount of 55% of the GDP. The goal of this contribution is to analyze the content of the financial constitution, assess its structure and the aspects of its process application, and through selected public budgets also its possible influence on the whole economy. The content of the financial constitution shall also be compared to similar mechanisms abroad, especially in the neighboring countries.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2016
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Knowledge for Market Use 2016: Our Interconnected and Divided World
ISBN
978-80-87533-14-7
ISSN
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e-ISSN
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Number of pages
12
Pages from-to
369-380
Publisher name
Societas scientiarum Olomucensis II
Place of publication
Olomouc
Event location
Olomouc
Event date
Sep 8, 2016
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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