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Overview

In: Fiscal Sustainability and Competitiveness in Europe and Asia

Author

Listed:
  • Ramkishen S. Rajan

    (Asia Competitiveness Institute (ACI)
    National University of Singapore
    George Mason University)

  • Tan Khee Giap

    (Asia Competitiveness Institute (ACI)
    National University of Singapore)

  • Tan Kong Yam

    (Asia Competitiveness Institute (ACI)
    Nanyang Technological University)

Abstract

Over the past two decades the fiscal positions of many advanced economies have deteriorated rather precipitously, leading to ever-growing levels of public debt (in absolute terms and as a share of GDP) and mounting concerns about debt sustainability. The ratio of gross government debt1 to GDP for advanced economies was 60 per cent in 2000 and peaked at about 110 per cent in 2012.2 In contrast, the public debt-to-GDP ratio for emerging market economies has remained stable since 2005, ranging from about 35 to 40 per cent (Figure 1.1).3

Suggested Citation

  • Ramkishen S. Rajan & Tan Khee Giap & Tan Kong Yam, 2014. "Overview," Palgrave Macmillan Books, in: Fiscal Sustainability and Competitiveness in Europe and Asia, chapter 1, pages 1-3, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-40697-2_1
    DOI: 10.1057/9781137406972_1
    as

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