Dług publiczny a potęga państwa
Public Debt and State Power

Summary/Abstract: RESEARCH OBJECTIVE: The paper aims aim to create a catalog of factors related to national public debt that negatively affect the power of the state in international relatons. THE RESEARCH PROBLEM AND METHODS: Public debt is usually considered as an an economic phenomenon, without considering its political dimension. Factors connecting the public debt of the state with its power were distinguished using analysis of theories functioning in political economy selected case studies. THE PROCESS OF ARGUMENTATION: Paper starts with a short theoretical introduction on the issue of the power of the state in international relations and the nature of public debt. Then there is introduced the catalog of factors related to public debt, which, according to the author, translate into the power of the state. RESEARCH RESULTS: Two categories of factors are presented: the first one is related to the economy and the country’s budget (general economic situation, amount of budget deficits, amount of hidden public debt, availability of monetary policy tools), and the second one is related to the structure of the debt itself (debt history, objectives financed by borrowed money, debt structure and creditors). CONCLUSIONS, INNOVATIONS, AND RECOMMENDA TIONS: Factors introduced and described in this paper may be useful in assessing the power of the state, as they reflect the impact of public debt on the country’s economic potential and its perception by other players of international relations.

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