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Is the debt brake efficient instrument for sustaining responsible fiscal policy?
Soukup, Albert ; Doležal, Ondřej (advisor) ; Pikhart, Zdeněk (referee)
The aim of the bachelor thesis is to define recommendations of setting the debt brake mechanism for Czech Republic, based on functional analysis in selected EU states. Analyzed countries are Slovakia, Poland, Estonia, Germany and Spain. First section of the thesis presents basic principles and terms of theoretical view of public finance, followed by description of opinions of several schools of economic thought on debt-financing and public finance issues. The second, practical part of the thesis first presents opinions of international organizations on the solution of the debt crisis. Next chapter is the analysis of the debt brake mechanism in selected states. Speaking in general, the debt brake itself is not automatically a guarantee of responsible fiscal policy, nevertheless it partly contributes to it. The outcome of the thesis is an unambiguous recommendation for the Czech Republic to approve the debt brake. The thesis also presents specific propositions to improve the current plan, based on real experience in analyzed states.
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