scholarly journals Crowding Out Or Crowding In? The Economic Consequences of Financing Government Deficits

10.3386/w0284 ◽  
1978 ◽  
Author(s):  
Benjamin Friedman
Keyword(s):  
Economic Consequences ◽  
Crowding Out ◽  
Government Deficits

scholarly journals DEVELOPMENT OF PUBLIC DEBT IN THE SLOVAK REPUBLIC AND THE RISKS OF ITS DEEPENINING

2020 ◽  
pp. 63-70
Author(s):  
Eleonóra Matoušková
Keyword(s):  
Euro Area ◽  
Public Debt ◽  
Social Inequalities ◽  
Global Financial Crisis ◽  
Slovak Republic ◽  
Economic Recession ◽  
Economic Consequences ◽  
Economic Downturn ◽  
Government Deficits ◽  
The Global Financial Crisis

The problem of over-indebtedness began to manifest itself significantly in the Euro area in 2009. Permanent government deficits and the global financial crisis have increased public debt in many, especially the southern Euro area countries, well above the Maastricht criterions. The Slovak Republic is not one of the countries with disproportionaly high debt, but in the era of its autonomy, it had to deal with three periods when the debt was increasing. It was a period of transformation of the economy from centrally managed to market economy after 1993, a period of economic recession due to the global financial and economic crisis and the current coronavirus pandemic, accompanied by a deep economic downturn. The need to tackle a number of inadequate social inequalities is also puttig pressure on the public finances. The aim of this article is to assess development of public debt in Slovakia and to draw attention to the risks of its deepening. Slovakia achieved relatively high levels of economic growth. These periods have not been sufficiently used to reduce public debt, which currently accounts for 48% of GDP. While its share to GDP is falling, the absolute volume of debt is increasing. Economic consequences of the current global coronavirus pandemic will cause further growth in public debt. Slovakia did not take enough opportunity in good times to prepare for the crisis period.

The Economic Consequences of the Deficit*

1986 ◽  
Vol 4 (3) ◽  
pp. 149-156 ◽  
Author(s):  
J.M. Buchanan
Keyword(s):  
Economic Consequences ◽  
Crowding Out

Abstract Le conseguenze economiche di un deficit di bilancio finanziato con debito pubblico sono equivalenti, nei loro termini più semplici, alle conseguenze del finanziamento con debiti per ogni unità economico-finanziaria, sia essa una persona, una famiglia, una società, un club, una chiesa o un sindacato.Il finanziamento della spesa pubblica mediante debito è equivalente a «mangiare” il capitale della Nazione. Ciò è vero sia se il debito è sottoscritto all’interno, sia se lo è all’estero.Questo aspetto fondamentale viene spesso trascurato, dato che si preferisce soffermarsi sull’effetto di «crowding out», che è pure importante, ma molto meno del primo.Non è dubbio che il governo federale si sia immesso in un meccanismo di spesa e debito che non può essere sostenuto in permanenza. Perchè il sistema sia modificato è, tuttavia, necessario che le regole siano cambiate. Vi sono alcuni sintomi che fanno sperare che ciò possa avvenire prima che sia troppo tardi.

The rise of the sharing economy: Guesthouse boom and the crowding-out effects of tourism in Lisbon

2019 ◽  
Vol 26 (3) ◽  
pp. 389-403 ◽  
Author(s):  
João-Pedro Ferreira ◽  
Pedro N Ramos ◽  
Michael L Lahr
Keyword(s):  
Economic Impacts ◽  
Regional Distribution ◽  
Sharing Economy ◽  
Regional Level ◽  
Economic Consequences ◽  
Urban Residents ◽  
Crowding Out ◽  
Input Output ◽  
City Center ◽  
The City

At the urban scale, tourism activities can compete for spaces formerly used by housing and rendering opposing structured economic consequences. As tourism can generate jobs, there is the idea among urban residents that they can become victim of tourism increase. In this work, we apply a multiregional input–output model to assess the economic impacts of guesthouse boom in Lisbon city according to three scenarios and a hypothetical distribution of residential choices between the center and the periphery. This is particularly poignant because the supply of guesthouse units has risen from 100 in 2010 to more than 10,000 units in 2018. We find that Lisbon guesthouses were responsible by creating a total of more than 29,400 jobs nationwide and by increasing the national gross domestic product by 0.5%. At the regional level, only about 50% of the positive economic impacts of tourism were retained by Lisbon—the rest is split between the city’s suburbs and the rest of the country. Also, we conclude that the regional distribution of gains becomes even more unbalanced if the city center observes a large exodus of its residents to the periphery.

Еnforcement of Property Rights and Conractual Obligations

2003 ◽  
pp. 83-100 ◽  
Author(s):  
A. Radygin ◽  
R. Entov
Keyword(s):  
Property Rights ◽  
Legal Framework ◽  
Economic Consequences ◽  
Theoretical Approaches ◽  
Contractual Obligations ◽  
Regional Authorities ◽  
Practical Recommendations

The paper deals with theoretical approaches to the problems of property rights and contractual obligations and with analysis of economic consequences of the imperfect enforcement system. In particular, the authors consider Russian experience in the sphere of corporate conflicts. Legal and practical recommendations related to the improvement of legal framework, judiciary reform, executory process and different federal and regional authorities are also presented.

Budget as an Instrument of Reproduction of Bureaucracy in Russia

2006 ◽  
pp. 87-96
Author(s):  
Yu. Shvetsov
Keyword(s):  
The State ◽  
Economic Consequences ◽  
Material Base ◽  
Characteristic Features

The article considers the problem of bureaucratisation of the state and the most important social and economic consequences of this phenomenon. The essence of bureaucracy has been revealed, characteristic features of its functioning in Russia have been analyzed; the material base of bureaucracy and its dominating status in the society have been substantiated. The conclusion has been made that the process of changing the role of the budget to serve the interests of bureaucracy is being accomplished.

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