Financial (in)dependence in the contemporary market economy Cover Image

(Nie)zależność finansowa państwa we współczesnej gospodarce rynkowej
Financial (in)dependence in the contemporary market economy

Author(s): Piotr Misztal
Subject(s): Supranational / Global Economy, Political economy, Financial Markets, Public Finances, Fiscal Politics / Budgeting
Published by: Uniwersytet Adama Mickiewicza
Keywords: financial independence; financial security; public debt;

Summary/Abstract: State financial independence refers to the ability of the government to finance all state expenditure solely from the budgetary revenue attained. Thus, the full financial autonomy of the state means that the government finances the budgetary expenditures without having to borrow money. Therefore, the aim of this article is to examine the possibility for states to achieve full financial autonomy in the contemporary world economy. The results of the studies show that almost all countries now have a large or small public debt, which means that countries finance their development by borrowing money at home and abroad. The important issue seems to be not so much to maintain the full financial independence of the State as to guarantee the financial security of the state (that is, to maintain the ability of the state to raise money when necessary).

  • Issue Year: 81/2019
  • Issue No: 2
  • Page Range: 159-175
  • Page Count: 17
  • Language: Polish