STOCK FLOW ADJUSTMENT A STABILNOŚĆ ZADŁUŻENIA PUBLICZNEGO POLSKI
STOCK FLOW ADJUSTMENT VS. STABILITY OF POLISH PUBLIC DEBT

Summary/Abstract: Public debt raised in previous 50 years and reached dangerous levels. It forced many countries and especially the European Union to implement wide range of fiscal rules. Different research shows that the effect of fiscal rules is rather different than expected. Public debt still grows in most developed countries, but budget deficits decrease at the same time. The difference is so-called stock-flow adjustment (SFA). The category is an important part in the evaluation of fiscal stability, because it is hidden – most democratic representatives are not aware of its existance. In the article, the influence of SFA on the stability of Polish public finances is analysed.

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