The Real Effects of Shifts between Public and Private Debt

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

The Real Effects of Shifts between Public and Private Debt

Popis výsledku v původním jazyce

The aim of this paper is to investigate effects of structural changes of total gross debt on economic growth OECD countries during period from 1996 to 2016. In this paper it is the structural change within the national debt followed. The paper does not examine the effect of the level of gross debt, rather the effects of the shift within its structure. The simple panel data regression of chosen OECD countries is employed. We used within fixed effects estimator. From the results stem that the shift from the private debt to public debt is associated with the negative impact on the economic growth, and vice versa. When the sector decomposition of the private debt is made, it seems that the most positive shift is from public debt to debt to households, and vice versa. Hence, the structural shift within the gross debt of economy does lead to the impacts on the economic growth. Especially, if the government can take over the private liabilities the probability of “too-much-debt” rises and the moral risk could create risks toward the future economic growth development.

Název v anglickém jazyce

The Real Effects of Shifts between Public and Private Debt

Popis výsledku anglicky

The aim of this paper is to investigate effects of structural changes of total gross debt on economic growth OECD countries during period from 1996 to 2016. In this paper it is the structural change within the national debt followed. The paper does not examine the effect of the level of gross debt, rather the effects of the shift within its structure. The simple panel data regression of chosen OECD countries is employed. We used within fixed effects estimator. From the results stem that the shift from the private debt to public debt is associated with the negative impact on the economic growth, and vice versa. When the sector decomposition of the private debt is made, it seems that the most positive shift is from public debt to debt to households, and vice versa. Hence, the structural shift within the gross debt of economy does lead to the impacts on the economic growth. Especially, if the government can take over the private liabilities the probability of “too-much-debt” rises and the moral risk could create risks toward the future economic growth development.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50206 - Finance

Projekt

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Návaznosti

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Rok uplatnění

2018

Kód důvěrnosti údajů

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

Název statě ve sborníku

Conferecne Proceedings International Scientific Conference Economic and Social Policy

ISBN

978-80-87291-24-5

ISSN

2571-1776

e-ISSN

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Počet stran výsledku

10

Strana od-do

269-278

Název nakladatele

Vysoká škola sociálně správní

Místo vydání

Ostrava

Místo konání akce

Čeladná, Czech Republic

Datum konání akce

4. 9. 2018

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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