Echilibrul financiar global şi riscul suveran în perioada post-criză
[The Global Financial Balance and Post-Crisis Sovereign Risk]
AbstractCaused by the lack of an international financial regulations framework and under the circumstances of markets volatility persistence, the global financial balances deteriorated during the postcrisis period. The bail-out of the banking system by public or multilateral intervention instead of leading to the financial re-balancing has transferred a systemic risk to the sovereign level, mainly in the case of advanced countries. Addressing high public debts toward sustainable levels by the budgetary constraints of austerity programs has proved to hamper the economic growth, increasing, in fact, the sovereign risk.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 50772.
Date of creation: Aug 2013
Date of revision:
: global financial balance; markets volatility; financial crisis; sovereign risk; public debt sustainability.;
Find related papers by JEL classification:
- F01 - International Economics - - General - - - Global Outlook
- F65 - International Economics - - Economic Impacts of Globalization - - - Finance
- G01 - Financial Economics - - General - - - Financial Crises
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
- H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-11-16 (All new papers)
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