Dopady fiskální nerovnováhy na ekonomický růst

Abstract

The theme of this bachelor thesis is an indebtedness of states and its impact on economic growth. The last global economic crisis has been accompanied by a significant increase in the government debt in many countries. Many of these countries were unable to finance these debts without foreign aid. Therefore, the increased attention has been given to these issues in the recent years. The theoretical part of the thesis focuses on the historical development of fiscal policy. The attention is paid to the creation of fiscal policy in practice. The next part describes the impacts of fiscal imbalance in the short and long term and characterizes its types, causes and consequences. The empirical part is divided into two chapters. In the first one, the states are chosen, whose economic results are the main source of data for the whole empirical part. These states are newcomers to the EU in 2004. This chapter introduces rules and restrictions focus on fiscal policy making and connect with membership in the EU, before describing their economic development. Subsequently the characteristics of the countries will be presented, and the strengths and weaknesses of the chosen countries will be introduced. The crucial works connect with this topic are introduced in the second half of the empirical part briefly. Then the research methodology is presented, and finally the analysis of the effects of fiscal imbalance on economic growth is realized. This analysis and its evaluation are the main goal of the thesis.