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Do fiscal drivers matter for sovereign risk spread in EU15?

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F14%3A%230002728" target="_blank" >RIV/47813059:19520/14:#0002728 - isvavai.cz</a>

  • Result on the web

    <a href="http://apps.webofknowledge.com/full_record.do?product=UA@search_mode=GeneralSearch@qid=3@SID=Z1prE4N7f2o5CxElcfd@page=1@doc=1@cacheurlFromRightClick=no" target="_blank" >http://apps.webofknowledge.com/full_record.do?product=UA@search_mode=GeneralSearch@qid=3@SID=Z1prE4N7f2o5CxElcfd@page=1@doc=1@cacheurlFromRightClick=no</a>

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    Do fiscal drivers matter for sovereign risk spread in EU15?

  • Original language description

    The price of government bonds reflects among other market confidence in governments' commitment towards sustainable fiscal policies. The aim of the paper is to examine the importance of fiscal fundamentals for sovereign risk spread in selected European Union member states in a period 1990-2012 and test if stronger fiscal discipline reduces sovereign risk premium. The empirical evidence is performed on unbalanced panel containing 15 EU countries and panel regression is a basic methods of research. Next variables are used for testing impact on sovereign risk spread: German Bunds' interest, budget balance to GDP, debt to GDP, GDP growth and the fiscal rules index. The analysis uses data taken from Eurostat, OECD and Helgi database. Results confirm importance of fiscal variables and discipline for a sovereign risk spread. The improvement of fiscal position (expressed by budget balance increase and debt decrease) reduces sovereign yield spread. Contrary, changes of German Bunds' interest an

  • Czech name

  • Czech description

Classification

  • Type

    D - Article in proceedings

  • CEP classification

    AH - Economics

  • OECD FORD branch

Result continuities

  • Project

  • Continuities

    O - Projekt operacniho programu

Others

  • Publication year

    2014

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Article name in the collection

    European Financial Systems 2014. Proceedings of the 11th International Scientific Conference

  • ISBN

    978-80-210-7153-7

  • ISSN

  • e-ISSN

  • Number of pages

    8

  • Pages from-to

    629-637

  • Publisher name

    Masarykova universita

  • Place of publication

    Brno

  • Event location

    Lednice

  • Event date

    Jun 12, 2014

  • Type of event by nationality

    EUR - Evropská akce

  • UT code for WoS article

    000350701500083