Public Debt in the European Union: A Sleeping Giant?

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F18%3A10241140" target="_blank" >RIV/61989100:27510/18:10241140 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Public Debt in the European Union: A Sleeping Giant?

Original language description

In spite of a recent slight recovery in the European Union, some issues such as very high public debt to GDP in some EU member countries remain also in post-crisis period. Public debt has become a highly debated economic issue in recent years due to the European debt crisis, which was especially strong in euro area countries. Reduction of the excessive public debt has moved to the forefront among the economic policy challenges facing many of European Union countries in recent years. An accumulation of high levels of public debt can have severe negative consequences. One of them is a negative correlation between debt and economic growth as most existing empirical literature on this object has found. Sustainability of the debt depends not only on its size, but also on its structure. The structure of public debt may become a channel or source of vulnerability to the real economy and the financial system. In this respect, this paper analyses debt decomposition - residency of creditors, currency which is used to issue debt and original maturity of debt instrument - on recent available data. According to our findings, the debt share held by non-residents was significant for most of the European Union countries; only two countries issued more than 50% of their debt in foreign currency and the long-term securities were the most used debt instrument.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50202 - Applied Economics, Econometrics

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2018

Confidentiality

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

Article name in the collection

Proceedings of the 4th International Conference on European Integration 2018 : ICEI 2018 : May 17-18, 2018, Ostrava, Czech Republic. 3rd part

ISBN

978-80-248-4169-4

ISSN

2571-029X

e-ISSN

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Number of pages

8

Pages from-to

1326-1333

Publisher name

VŠB - Technical University of Ostrava

Place of publication

Ostrava

Event location

Ostrava

Event date

May 17, 2018

Type of event by nationality

EUR - Evropská akce

UT code for WoS article

000462093400150