Stock-flow adjustment – only a residual value? Evidence from European Union countries

Monika Banaszewska


The aim of the article is to investigate the fiscal determinants of stock-flow adjustment (SFA). Previous literature suggests that SFA may be used strategically to reduce budget deficit and public debt. As such, SFA impairs fiscal transparency and may endanger fiscal sustainability. Therefore, special attention should be paid by economists and policymakers. The study pertains to the European Union countries in the years 2005-2016. The empirical analysis supports the hypothesis that SFA is inversely related to public debt, whereas the inverse relationship between budget balance and SFA is not confirmed. The article contains additional analyses for selected components of SFA as well as narrower time and space coverage.
Author Monika Banaszewska (WE / KFP)
Monika Banaszewska,,
- Department of Public Finance
Journal seriesE-Finanse, ISSN 1734-039X, (0 pkt)
Issue year2019
Publication size in sheets0.5
Keywords in Polishdług publiczny, deficyt budżetowy, analiza danych panelowych
Keywords in Englishpublic debt, budget deficit, panel data analysis
Languageen angielski
Score (nominal)5
Score sourcejournalList
ScoreMinisterial score = 5.0, 18-10-2020, ArticleFromJournal
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