TY  - GEN
AB  - The aim of this study is to investigate debt sustainability in ten Central and
Eastern European countries over 1997-2013. Following Burger (2012), we
calculate the stabilized debt using the estimates of a fiscal reaction function for
a balanced panel with fixed effects. Comparing the stabilized, the effective debt
ratios and the historical averages, we can assess debt sustainability in short
and in long run. We find that current debt ratio as of 2015 for Bulgaria and
Romania is not sustainable. The debt dynamics of Bulgaria is stable whilst for
Romania’s case the debt trajectory indicates unstable dynamics. As for
historical averages of debt ratios, Bulgaria could encounter debt sustainability
issues also in the long run.
DA  - 2016
DO  - 10.4119/unibi/2915599
KW  - Public debt
KW  - Fiscal Sustainability
KW  - Fiscal Reaction Function
KW  - CEECs economies
LA  - eng
PY  - 2016
SN  - 2196-2723
SP  - 15-
TI  - Debt Sustainability Issues in the Central and Eastern European Countries
UR  - https://nbn-resolving.org/urn:nbn:de:0070-pub-29155998
Y2  - 2024-11-22T02:11:06
ER  -