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Titel
Debt sustainability issues in the Central and Eastern European countries / Bettina Bökemeier and Andreea Stoian
VerfasserBökemeier, Bettina ; Stoian, Andreea
ErschienenBielefeld, Germany : Universität Bielefeld, Faculty of Business Administration and Economics, June 2016
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Elektronische Ressource
Umfang1 Online-Ressource : Diagramme
SerieWorking papers in economics and management ; No. 07-2016
URNurn:nbn:de:hbz:6:2-127781 
DOI10.4119/unibi/2915599 
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Debt sustainability issues in the Central and Eastern European countries [0.49 mb]
Zusammenfassung

The aim of this study is to investigate debt sustainability in ten Central and Eastern European countries over 1997-2013. Following Burger (2012), we calculate the stabilized debt using the estimates of a fiscal reaction function for a balanced panel with fixed effects. Comparing the stabilized, the effective debt ratios and the historical averages, we can assess debt sustainability in short and in long run. We find that current debt ratio as of 2015 for Bulgaria and Romania is not sustainable. The debt dynamics of Bulgaria is stable whilst for Romanias case the debt trajectory indicates unstable dynamics. As for historical averages of debt ratios, Bulgaria could encounter debt sustainability issues also in the long run.

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