Ekspansja fiskalna a destabilizacja równowagi zewnętrznej

Abstract

This paper describes an attempt to analysis factors that contribute to the rise of the external imbalances in domestic economy, namely: debt crises, volatility fluctuations of capital flows and diminishing predictability of international solvency. None of these factors fully explain the all reasons of escalation of external disequilibrium. Only researching them in an integral relation allows for better understanding of the escalation processes of external imbalances in particular countries. An acquaintance with these processes is the efficiency condition for the adjustment activities to stabilize capital flows and stop the escalation of external disequilibrium in domestic economy.