Public Debt and Economic Growth: An Empirical Analysis of the Structure Changes of Public Debt in the EU Countries

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Public Debt and Economic Growth: An Empirical Analysis of the Structure Changes of Public Debt in the EU Countries

Popis výsledku v původním jazyce

Public debt and its changes might be a determinant of long-term economic growth. There are many theoretical ways to treat public debt as inter-generation burden. Especially in EU and in EMU it seems to be crucial to deal with high level of debt to GDP due to several fiscal problems which might be leading to economic downturns in the future. Therefore, the aim of this paper is to evaluate the effects of shifts in public debt structure on economic growth of 18 EU countries, these countries are also the OECD members. Results should be used to optimization of debt management. The empirical analysis employs a dynamic panel regression in period from 2000 to 2015 making use of the GMM estimator. According to results there is an evidence that changes of public debt structure affect the economic growth. It seems to be important to linkage the structure with debt cost if one look at the maturity structure of public debt. Debt shift from long-term instruments to short-terms should promote the growth.

Název v anglickém jazyce

Public Debt and Economic Growth: An Empirical Analysis of the Structure Changes of Public Debt in the EU Countries

Popis výsledku anglicky

Public debt and its changes might be a determinant of long-term economic growth. There are many theoretical ways to treat public debt as inter-generation burden. Especially in EU and in EMU it seems to be crucial to deal with high level of debt to GDP due to several fiscal problems which might be leading to economic downturns in the future. Therefore, the aim of this paper is to evaluate the effects of shifts in public debt structure on economic growth of 18 EU countries, these countries are also the OECD members. Results should be used to optimization of debt management. The empirical analysis employs a dynamic panel regression in period from 2000 to 2015 making use of the GMM estimator. According to results there is an evidence that changes of public debt structure affect the economic growth. It seems to be important to linkage the structure with debt cost if one look at the maturity structure of public debt. Debt shift from long-term instruments to short-terms should promote the growth.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Rok uplatnění

2016

Kód důvěrnosti údajů

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

Název statě ve sborníku

Proceedings of 14 th International Scientific Conference "ECONOMIC POLICY IN THE EUROPEAN UNION MEMBER COUNTRIES"

ISBN

9788075102102

ISSN

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e-ISSN

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Počet stran výsledku

9

Strana od-do

841-849

Název nakladatele

Silesian University

Místo vydání

Karviná

Místo konání akce

Petrovice u Karviné, Czech Republic

Datum konání akce

1. 1. 2016

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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