HOW TO MEASURE DEBT SUSTAINABILITY IN DEVELOPED COUNTRIES? - A COMPARISON OF DIFFERENT APPROACHES (CROSBI ID 636484)
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Podaci o odgovornosti
Kersan-Škabić, Ines
engleski
HOW TO MEASURE DEBT SUSTAINABILITY IN DEVELOPED COUNTRIES? - A COMPARISON OF DIFFERENT APPROACHES
Considering there is no single methodology for measuring debt sustainability in developed countries the paper compares two approaches most commonly used in the analysis: (1) influence of public debt to GDP growth rate which indicates different findings – positive influence if the debt is low and negative impact above some particular level of public debt ; and (2) the impact of public debt to interest rates (spreads) that indicates if the country is able to get money in the international financial markets at low interest rates, the level of debt is sustainable. The results of many different empirical analyses have been extracted and the conclusion points the diversity of results, methodologies, sample countries, but also the lack of systematic methodology to measure the debt sustainability. There is also area to additional research which should involve debt inter-causality with the current account as well as the connection between the debt with the amounts received from the European structural and investment funds.
developed countries; economic growth; interest rates; public debt
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Podaci o prilogu
265-275.
2016.
objavljeno
Podaci o matičnoj publikaciji
Economic and Social Development 13th International Scientific Conference on Economic and Social Development
Vrankić, I. i Tomić, D.
Varaždin : Koprivnica: VADEA ; Sveučilište Sjever
1849-7535
Podaci o skupu
13th International Scientific Conference on Economic and Social Development
predavanje
14.04.2016-16.04.2016
Barcelona, Španjolska