In search for ways to welfare state: The impact of old and new social risks on the fiscal sustainability in the Visegrád Group countries

The article is an attempt to ponder over a model of countries’ functioning in terms of old and new social risk. Attention was drawn to consequences of the new risk categories for the financial stability of welfare states, as a group of countries particularly vulnerable to the influence of demographic processes and changes in the labor market in economic reality after the crisis in 2008. The evolution of welfare state models was presented and the necessity for its redefinition in terms of excessive debt was indicated. It was shown that social expenditure determine, in varying degrees, the size of the public debt in welfare states, which is determined by the type of a welfare state. As a result of the correlation analysis conducted, it was diagnosed that for countries of the Visegrad1 group correlational relationships between social spending and debt are stronger than for welfare states of the Continental and Anglo-Saxon model. Thus, these countries are more exposed to the risk of insolvency created by growth of social expenditure determined by the impact of factors such as the ageing population, changes in the labor market, changes in the family model. At the same time it was shown that other groups of variables representing new and old social risk influence the size of the public debt of the Continental model countries (variables concerning labor market), and the other for the Visegrad Group model. The study covered years 2006 and 2010. The article consists of: introduction, literature review, method, results, conclusions.

This paper has already been published as:

Zioło, M. Flejterski, S. and Kubicki, R. (2014). In search for ways to welfare state: The impact of old and new social risks on the fiscal sustainability in the Visegrád Group countries. Estudios en Ciencias Sociales y Administrativas de la Universidad de Celaya, 4(1), 135-149.

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