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The transition from private debt to public debt – A case study of Romania

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  • Liviu FETIC

    (Bucharest University of Economic Studies, Romania)

Abstract

This paper tries to analyze the process in which Romania went in just two years from an economic tiger in Eastern Europe to a country that uses a rescue package from the famous troika: IMF, World Bank and European Commission. As the IMF agreements end in mid-2015, we come to some interesting conclusions and see some of the IMF conditions put into practice, like the fiscal buffer. This paper investigates the relationship between public debt, public deficit and economic growth in Romania over a period of 25 years, starting in 1990. The period under review has two important events regarding the impact of public debt on economic growth rates: the EU accession and the financial crisis of 2007-09, followed by the euro zone debt crisis.

Suggested Citation

  • Liviu FETIC, 2015. "The transition from private debt to public debt – A case study of Romania," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(Special(I), pages 176-181.
    • Handle: RePEc:agr:journl:v:xxii:y:2015:i:special(ii):p:176-181
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    File URL: http://store.ectap.ro/suplimente/International_Finance_and_Banking_Conference_FI_BA_2015_XIIIth_Ed.pdf
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    Keywords

    public debt; private debt; IMF.;
    All these keywords.

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