Pregled bibliografske jedinice broj: 757088
The impact of fiscal positions on government bond yields in CEE countries
The impact of fiscal positions on government bond yields in CEE countries // Economic systems, 39 (2015), 2; 301-316 doi:10.1016/j.ecosys.2014.10.006 (međunarodna recenzija, članak, znanstveni)
CROSBI ID: 757088 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
The impact of fiscal positions on government bond yields in CEE countries
Autori
Malešević Perović, Lena
Izvornik
Economic systems (0939-3625) 39
(2015), 2;
301-316
Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni
Ključne riječi
government debt; government bond yield; primary deficit; non-linearities; CEE countries
Sažetak
This paper investigates the influence of government debt and primary balance on long-term government bond yields in 10 Central and Eastern European (CEE) countries in the period 2000-2013. The results indicate that a one percentage point increase in the stock of government debt is associated with an increase in government bond yields of 2.7-4 basis points, while a one percentage point increase in the primary deficit to GDP ratio is associated with an increase in government bond yields of 12.9-24.3 basis points. We also find evidence of non-linearities in the debt-interest rate relationship ; whereby the threshold after which the impact of debt turns from negative to positive is significantly lower than in advanced economies.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
Citiraj ovu publikaciju:
Časopis indeksira:
- Current Contents Connect (CCC)
- Web of Science Core Collection (WoSCC)
- Social Science Citation Index (SSCI)
- SCI-EXP, SSCI i/ili A&HCI
- Scopus
- EconLit
