Debt Sustainability Issues in Central and East European Countries

Bökemeier, Bettina; Stoian, Andreea

doi:10.1080/00128775.2018.1496456

Cited by 22 publications

(20 citation statements)

References 19 publications

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“…We then combine tests for the order of integration of the variables with structural breaks. Our results are less optimistic than those of Krajewski, Mackiewicz, and Szymańska (2016) and Bökemeier and Stoian (2018), since a greater number of our target countries seem to have had debt sustainability issues since the crisis.…”

Section: Introductioncontrasting

confidence: 61%

“…However, the results from this literature are far from conclusive as they are highly dependent on the method used. Focusing on the most recent case, Bökemeier and Stoian (2018) show that only Latvia and Romania would not be able to stabilise their debt by 2018. Krajewski, Mackiewicz, and Szymańska (2016) also find that there are no sustainability issues for the CEECs.…”

Section: Introductionmentioning

confidence: 96%

“…frequently within the literature to analyse the sustainability of debt empirically. Other contributions for CEECs using methods other than univariate tests are Bökemeier and Stoian (2018) and the references therein. However, the results from this literature are far from conclusive as they are highly dependent on the method used.…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Changes in sovereign debt dynamics in Central and Eastern Europe

Cuestas

2019

Int. J Fin Econ

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The author acknowledges the financial support from the ECO2017-85503-R and ECO2017-83255-C3-3-P projects from `Agencia Estatal de Investigación' (AEI) Spain and `Fondo Europeo de Desarrollo Regional' (FEDER). Comments from two anonymous referees are gratefully acknowledged. The views expressed are those of the author and do not necessarily represent the official views of Eesti Pank, the European Central Bank or the Eurosystem.

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Section: Introductioncontrasting

confidence: 61%

Section: Introductionmentioning

confidence: 96%

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Changes in sovereign debt dynamics in Central and Eastern Europe

Cuestas

2019

Int. J Fin Econ

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“…Globan and Matošec (2016) argue that stimulating economic growth is a better way to solve the high debt-to-GDP problem and that a country would pay a high price for unsustainable public debt. Bökemeier and Stoian (2016) examine the debt ratios for 10 CEEC countries during 1997-2013. For Slovenia, the current debt ratio was below the sustainable debt ratio, but the gap became small due to the increase the debt ratio after the global financial crisis.…”

Section: Literature Reviewmentioning

confidence: 99%

Is Real Depreciation or More Government Deficit Expansionary? The Case of Slovenia

Hsing

2017

South East European Journal of Economics and Business

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The Slovenian economy shows strengths and weaknesses. The economic growth rate of 2.9% in 2015 was higher than the EU average of 2.0%. Employment grew 0.86% from 797.792 thousand in 2014 to 804.637 thousand in 2015. The unemployment rate continued to decline from a recent high of 10.1% in 2013 to a low of 9.0% in 2015, which was slightly lower than the average unemployment rate of 9.4% in the European Union. International trade has improved as evidenced by a trade surplus of 2,031 million Euro in 2015 from a recent trade deficit of 610 million Euro in 2011, suggesting that its export sector became more competitive globally.

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“…The identity equation denotes that government debt is a function of primary balance (the difference between government revenue and its expenditure), the existing stock of debt as well as interest payment on existing public debt. Other studies that employed this framework include Taylor, Proano, Carvalho, and Barbosa (2012), McCausland and Theodossiou (2016) and Bokemeier and Stoian (2018).…”

Section: Theoretical Consideration and Modelmentioning

confidence: 99%

Does fiscal tightening (loosening) reduce public debt?

Abubakar

2020

African Development Review

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This study examined the effect of fiscal tightening and loosening on the public debt of sub‐Saharan African (SSA) countries. To achieve this, the study employed a two‐step approach. In the first step, the effect of government primary balance on public debt was examined; while in the second step, the primary balance was disaggregated into its surplus and deficit components with the effect of each component on public debt examined. By utilising data covering a panel of 37 SSA countries for the period 2008 to 2017, the study employed the Panel System Generalised Method of Moments (GMM) model for analysis. Estimation results indicated that fiscal tightening (via government surpluses) produces a depressing effect on the stock of public debt while fiscal loosening increases the stock of public debt. Economic growth was also found to be effective in reducing public debt. The study cautions against protracted fiscal tightening due to its potential negative effect on economic growth and social welfare, thereby rendering it counterproductive.

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Debt Sustainability Issues in Central and East European Countries

Cited by 22 publications

References 19 publications

Changes in sovereign debt dynamics in Central and Eastern Europe

Changes in sovereign debt dynamics in Central and Eastern Europe

Is Real Depreciation or More Government Deficit Expansionary? The Case of Slovenia

Does fiscal tightening (loosening) reduce public debt?

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