Politická ekonomie 2008, 56(2):162-181 | DOI: 10.18267/j.polek.635

Udržitelnost veřejných financí a dynamická efektivnost

Vratislav Izák
Vysoká škola ekonomická v Praze.

Public finance sustainability and dynamic efficiency

In the last years there has been a growing discrepancy between gross domestic product and gross disposable income (more than a double of government budget deficit in 2006)in favour of non-residents. The difference between the real interest rate and the rate of growth of GDP has been negative in 2000-2006 and is expected to be negative in the near future suggesting that even a small deficit in primary budget balance can stabilize the debt ratio (30 % of GDP). But in a world of uncertainty even in the Czech republic the capital sector is on net a spout and not a sink (the profit rate has been higher than the investment rate in 1995-2008). Hence the czech economy seems to be dynamically efficient and an increase in national saving is necessary.

Keywords: fiscal sustainability, dynamic efficiency, czech data
JEL classification: H5, H6

Published: April 1, 2008  Show citation

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Izák, V. (2008). Public finance sustainability and dynamic efficiency. Politická ekonomie, 56(2), 162-181. doi: 10.18267/j.polek.635
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