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The article contributes to the debate focused on the institutional principles of policies conducted by the fiscal as well as the monetary authorities. The author offers a brief review of the main relations between the aims of macroeconomic policy and the instruments that enable to fulfill the former. At the same time specific determinants of the aim-oriented decisions by the central bank or the government...
The starting point of the study has been a survey of indices developed by international economic organizations. Such indices tend to encompass a number of qualitative/quantitative variables relating to economic viability, e.g. economic liberties, budgetary balance, judiciary, technical sophistication, social factors and innovation. Basing on the aforementioned data, the study has focused upon the...
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