Στην παρούσα εργασία εξετάζουμε τους προσδιοριστικούς παράγοντες των δημοσιονομικών ελλειμμάτων καθώς και των ελλειμμάτων στο ισοζύγιο τρεχουσών συναλλαγών. Επίσης, προσπαθούμε να ερευνήσουμε την επίδραση των δημοσιονομικών ελλειμμάτων στα ελλείμματα του ισοζυγίου τρεχουσών συναλλαγών (Υπόθεση δίδυμων ελλειμμάτων). Για το σκοπό αυτό χρησιμοποιούμε ένα δείγμα 27 χωρών του ΟΟΣΑ καλύπτοντας την περίοδο 1994-2006. / In this paper, we examine the determinants of budget deficits and current account deficits. Furthermore, we try to investigate the effect of budget deficits to current account deficits (Twin deficits hypothesis). For this purpose, we use a sample of 27 OECD countries covering the period 1994-2006.

The aim of this thesis is to analyze causes of United States budget deficits growth. In the first part, the thesis deals with the theory of public finance and fiscal policy including state budget and its balance. The thesis then focuses on the specific situation in the United Sates, its historical development of fiscal policies, development of federal debt, United States federal budget process, and also list of current main issues that represents main cause behind larger United States budget deficits. At the end, based on Congressional Budget Office data, is the indication of further development of federal debt including discussion over sustainability of the current development. In conclusion, the thesis also tries to find out whether the twin deficits hypothesis is valid for United States based on econometric analysis.