STABILIZACYJNA FUNKCJA PAŃSTWA W WARUNKACH MIĘDZYNARODOWEJ INTEGRACJI GOSPODARCZEJ – RYS HISTORYCZNY

Abstract

The advancing process of international economic integration has given rise to a discussion over the broadly understood costs of such a process. The main area of this discussion is the scope of the loss of economic sovereignty in the countries implementing various forms of integration. Such countries have to conform to some extent their method of defining their economic policy, including their stabilization policy, in accordance with the requirements of a given form of integration. However, drawing on the experiences of various integration groups in the 20th century, it may be concluded that it is difficult to maintain discipline in the manner of conducting the stabilization policy in times when one's own economy requires immediate changes in the monetary and fiscal sphere.