The impact of social expenditure on public dept in the Czech republic and Slovakia

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dc.contributor.authorRaisová, Manuela
dc.contributor.authorPavliková, Ľudmila
dc.contributor.authorSemančíková, Jozefína
dc.date.accessioned2016-12-14T12:06:16Z
dc.date.available2016-12-14T12:06:16Z
dc.date.issued2016
dc.description.abstract-translatedEurope is facing the problem of growing consumption and increasing volume of public expenditure too for years. Financing of public expenditure (as a sum of short-term, medium or long term projects) is a complicated issue. Regarding the fi nancial perspective, the primary result is the creation of budget de fi cits. Countries are currently not able to deal with them, and thus this problem leads to the creation of new de fi cits. Therefore, an economy creates public debt – through the accumulation of de fi cits. The aim of our paper is to examine the effect of social expenditure on public debt. We have focused on the examination of only two countries – the Czech Republic and Slovakia. Our fi ndings con fi rm that social expenditure represents a signi fi cant proportion of public expenditure. Moreover, public expenditure and social expenditure as well have increased in volume in the previous years. Governments use them to ful fi l their social role in the economy. From this perspective, fi nancing of social expenditure also contributes to the de fi cit, and in the long term to the creation of public debt. For that reason, another objective of our paper is to verify the effect of social expenditure on public debt. We examine the primary hypothesis on the signi fi cant correlation between public expenditure and public debt. As a result, we created an econometric model to test our hypothesis that the variable of public expenditure is more signi fi cantly correlated with public debt than other selected economic variables. Moreover, we modi fi ed the model, and we tested the hypothesis that social expenditure is more signi fi cantly correlated with public debt than other selected economic variables. We found that hypothesis concerning public expenditure had been con fi rmed for both countries. Hypothesis about social expenditure was con fi rmed for the Czech Republic. However, in the case of Slovakia, this hypothesis could not be veri fi ed.en
dc.format15 s.cs
dc.format.mimetypeapplication/pdf
dc.identifier.citationE+M. Ekonomie a Management = Economics and Management. 2016, č. 3, s. 158-172.cs
dc.identifier.doi10.15240/tul/001/2016-3-011
dc.identifier.doidx.doi.org/10.15240/tul/001/2016-3-011
dc.identifier.issn1212-3609 (Print)
dc.identifier.issn2336-5604 (Online)
dc.identifier.urihttp://hdl.handle.net/11025/22041
dc.language.isoenen
dc.publisherTechnická univerzita v Libercics
dc.relation.ispartofseriesE+M. Ekonomie a Management = Economics and Management;cs
dc.rights© Technická univerzita v Libercics
dc.rightsCC BY-NC 4.0cs
dc.rights.accessopenAccessen
dc.subjectveřejný dluhcs
dc.subjectstránutí obyvatelstvacs
dc.subjectsociální výdajecs
dc.subject.translatedpublic depten
dc.subject.translatedpopulation ageingen
dc.subject.translatedsocial expendituresen
dc.titleThe impact of social expenditure on public dept in the Czech republic and Slovakiaen
dc.typečlánekcs
dc.typearticleen
dc.type.statusPeer-revieweden
dc.type.versionpublishedVersionen

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Číslo 3 (2016)
Číslo 3 (2016)