Jacek Tomkiewicz

Fiscal Policy and capital formation process in transition economies

Economic situation of post-socialist economies is unique. Process of post-socialist transition influence on every aspect of national economy. Capital accumulation in post - socialist countries experiences many unusual problems. Capital formation process will determine economic potential, so policy makers should look after economic indicators (savings, investments) which are crucial for this process. It is very interesting to investigate relations between fiscal instruments (taxes, expenditures, budget balance) used in transition economies and level of national savings and investments.