Naslov
Is There a Debt-Overhang Problem in the European Union?

Autori
Kersan-Škabić, Ines

Vrsta, podvrsta i kategorija rada
Poglavlja u knjigama, znanstveni

Knjiga
Economic Imbalances and Institutional Changes to the Euro and the European Union (International Finance Review

Urednik/ci
Mirdala, Rajmund ; Canale, Rosaria Rita

Izdavač
Emerald Group Publishing

Godina
2017

Raspon stranica
277-303

ISBN
978-1-78714-510-8

Ključne riječi
Debt sustainability, public debt, EU, Granger causality

Sažetak
The last financial crisis opens the question of the level of debt sustainability in the developed countries. The majority of the EU member states faced the growing trend of public debt (while some countries are unable to service it on time, i.e. Greece) and some of the new members face the problem of external debt. Regarding there is no standard tool for measurement of public debt sustainability this analysis provides the statistical and econometric approach to find out bi-directional impact of public debt on GDP growth rate, unemployment, current account and interest rate spread. The research is performed on the five different groups of EU member states: EU28, Eurozone, new member states, GIIPS and EU-10-core countries. Results indicate the necessity to keep the public debt stable regarding the very slow post crisis recovery and low growth rates to avoid unintended consequences of debt burden on the EU economies.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA