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Sustainability, Management and Policy of Public Debt

Author

Listed:
  • Mirela Anca POSTOLE

    (Titu Maiorescu University from Bucharest, The Faculty of Economic Sciences, Department of Finance and Business Administration, Romania)

  • Ioana DUCA

    (Titu Maiorescu University from Bucharest, The Faculty of Economic Sciences, Department of Finance and Business Administration, Romania)

  • Rodica GHERGHINA

    (Bucharest Academy of Economic Studies, Department of Finance, Romania)

  • Florin VADUVA

    (Titu Maiorescu University from Bucharest, The Faculty of Economic Sciences, Department of Finance)

Abstract

The present scientific work aims at establishing the connection between the sustainability and the management of public debt both as hot stringent issues, and as strategic components of the state public policies. The authors analyze the relationship between public debt and some macroeconomic variables, by using a model structured on two time periods. Also, the study the same relationship based on data concerning public debt as a quota of the GDP (%) and the economic growth as a quota of the GDP (%) in 2009, by applying the econometric models for several European Union members. Therefore, the results of the present research highlight the role played by the debt management in ensuring the debt sustainability and also prove that the connection between the economic growth and the public debt is indirect and only medium strong, due to the results obtained after applying a unifactorial econometric model.

Suggested Citation

  • Mirela Anca POSTOLE & Ioana DUCA & Rodica GHERGHINA & Florin VADUVA, 2011. "Sustainability, Management and Policy of Public Debt," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 1(7), pages 1-19, December.
    • Handle: RePEc:spp:jkmeit:1240
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    References listed on IDEAS

    as
    1. Barry Eichengreen & Ricardo Hausmann & Ugo Panizza, 2007. "Currency Mismatches, Debt Intolerance, and the Original Sin: Why They Are Not the Same and Why It Matters," NBER Chapters, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences, pages 121-170, National Bureau of Economic Research, Inc.
    2. Alessandro Missale & Francesco Giavazzi, 2003. "Public Debt Management in Brazil," Development Working Papers 178, Centro Studi Luca d'Agliano, University of Milano.
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    Cited by:

    1. Ian Thomas & Kathryn Hegarty & Stuart Whitman & Val Macgregor, 2012. "Professional Associations," Journal of Education for Sustainable Development, , vol. 6(1), pages 121-136, March.

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    More about this item

    Keywords

    sustainability; public debt management; public policies; economic growth; indebtedness level;
    All these keywords.

    JEL classification:

    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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