ABSTRACT

Previous studies on the Political Budgetary Cycle have used fiscal variables on high levels of aggregation, including, among others, investment expenditure aggregates or capital expenditure aggregates. This article demonstrates the existence of a Political Budgetary Cycle in investment expenditures among Polish local governments, and analyses the composition of investment expenditures during the cycle. Due to the varying visibility of investment expenditures, their composition is also subject to fluctuations. Before elections, there is an increase in investments in culture, tourism and transport infrastructure, and a drop in investments in public safety, education, environmental protection, sports and counteracting social exclusion.

摘要

先前关于政治预算周期的研究使用了高度聚合的财政变量，其中包括投资支出总额或资本支出总额。本文论证了波兰地方政府投资支出存在政治预算周期，并分析了该周期内投资支出的构成。由于投资支出的可见性不同，其构成也受到波动的影响。选举前，对文化、旅游和交通基础设施的投资有所增加，而对公共安全、教育、环境保护、体育和抵制社会排斥的投资则有所下降。