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Czynniki utrudniające skuteczne oddziaływanie polityki fiskalnej na gospodarkę
(Factors hindering the effective impact of fiscal policy on the economy)
DOI: 10.18276/sip.2018.51/3-09
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| ISSN: | 2450-7733 |
| eISSN: | 2300-4096 |
| Authors: |
Tomasz
Grabia
Uniwersytet Łódzki Wydział Ekonomiczno-Socjologiczny |
| Keywords: | credibility of fiscal policy coordination of fiscal and monetary policies instruments of fiscal policy internal and external delays of fiscal policy |
| Issue / book publication date: | 2018 |
| Page range: | 12 (101-112) |
| OAI-PMH: | Metadata |
| Klasyfikacja JEL: | E52 E62 |
| |
Abstract
The aim of the article is to identify the factors hindering the effective impact of fiscal policy on the economy. Analysis of these factors reveals a number of problems faced by decision makers regardless of whether they adopt a strategy of expansionary or contractionary fiscal policy. Based on the article, it was found that the most important factors hindering the effectiveness of fiscal policy include: the lack of its credibility, the use of inadequate instruments, the lack of coordination with fiscal and monetary policies as well as internal and external delays associated with the decisions of government. Only in the case of the first two of the above mentioned factors the authority can try to minimize problems by increasing the transparency of fiscal policy and correct diagnosis of the situation, facilitating the right mix in the application of the strategy connected with changes in government spending and taxes.
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