Home  Journals  Finance and Credit  31(367) – 2009 August

The today`s possibility of implying the neoclassical theory of public debt

Available online: 17 September 2009

Subject Heading: Budgetary system

JEL Classification: 

Article presents some new rules of budget law, which have appeared in cause of international financial crisis and concern the public and municipal borrowings and the public and municipal debts. Author analyzes these things and supports the idea, that it need to eliminate some faults, which have appeared in the procedure of lending money to state and municipal authorities. He presents the brief review of J.M. Buchanan`s ideas as the example of neoclassical debt theory, which rejects the management of budget deficit (supply) as the method to control economical circle and the thesis that a domestic public debt does not aggravate economical position of future generations.

Keywords: finance, finance and budget law, public debt, municipal debt

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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