Public Debt in the European Union: A Sleeping Giant?

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 in the European Union: A Sleeping Giant?

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Public Debt in the European Union: A Sleeping Giant?

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2018

Kód důvěrnosti údajů

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

Název statě ve sborníku

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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Počet stran výsledku

8

Strana od-do

1326-1333

Název nakladatele

VŠB - Technical University of Ostrava

Místo vydání

Ostrava

Místo konání akce

Ostrava

Datum konání akce

17. 5. 2018

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

000462093400150