Fiscal Discipline as a Driver of Sovereign Risk Spread in the European Union Countries.

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F13%3A%230002492" target="_blank" >RIV/47813059:19520/13:#0002492 - isvavai.cz</a>
Result on the web
—
DOI - Digital Object Identifier
—

Result language
angličtina
Original language name
Fiscal Discipline as a Driver of Sovereign Risk Spread in the European Union Countries.
Original language description
The aim of the paper is to verify if stronger fiscal discipline effects sovereign risk premium in the European Union member states in a period 1990-2011. We undertand fiscal discipline as a compliance with targets for budgetary aggregates. We performed estimation on three different panels (EU24, EURO, non EURO) with the goal to find differences between euro and non-euro countries We used next variables for testing the impact on sovereign bond spread: German Bunds' interest, budget balance, debt and thefiscal rules index. Correlation analysis identified the strong correlation between sovereign yield spread and budget balance. This is the common trend for all panels. Likewise, fiscal rules index is strong correlated with spread and it is more noticeablein EURO panel. The improvement of fiscal discipline reduces sovereign yield spreads. The biggest difference between panels was found for the debt and German interest rate. These variables are strong correlated only in EURO countries. Sur
Czech name
—
Czech description
—

Project
—
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the 22nd IBIMA Conference Creating Global Competitive Economies: 2020 Vision Planning Implementation
ISBN
978-0-9860419-1-4
ISSN
—
e-ISSN
—
Number of pages
12
Pages from-to
793-804
Publisher name
IBIMA
Place of publication
Rome
Event location
Rome
Event date
Nov 13, 2013
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
—

Similar results(10)