Factori de creştere a sustenabilităţii datoriei publice
[Drivers of increasing the public debt sustainability]
AbstractIn the case of Romania, a sharp deterioration of the fiscal framework strength has been observed during post-crisis period, the public debt-to-GDP ratio currently reaching around 40%, thus doubling as compared to 2008. The structural analysis of government debt portfolio highlighted the main drivers of excessive public indebtedness and the increase in refinancing (rollover) risk on short term, which is supposed to overlap with the exchange rate and interest rate risks on medium and long term. Several indicators of Romania’s debt sustainability are already on the warning levels edge which requires appropriate policies focusing on economic growth recovery, fiscal consolidation ongoing, increasing capacity of generating budgetary revenues, public debt management improvement.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 52957.
Date of creation: Jan 2014
Date of revision:
public debt; debt sustainability; sovereign risk; sustainable development; financial stability;
Find related papers by JEL classification:
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- F34 - International Economics - - International Finance - - - International Lending and Debt Problems
- G01 - Financial Economics - - General - - - Financial Crises
- 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-2014-05-17 (All new papers)
- NEP-FDG-2014-05-17 (Financial Development & Growth)
- NEP-MAC-2014-05-17 (Macroeconomics)
- NEP-TRA-2014-05-17 (Transition Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Zaman Gheorghe, 2011. "Challenges, Vulnerabilities And Ways Of Approach In Romania'S External Debt Sustainability," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(special), pages 11-44, July.
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- Zaman, Gheorghe & Georgescu, George, 2011. "Sovereign risk and debt sustainability: warning levels for Romania," MPRA Paper 32924, University Library of Munich, Germany.
- Carmen M. Reinhart & M. Belen Sbrancia, 2011.
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BIS Working Papers
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- Carmen M. & M. Belen Sbrancia, 2011. "The Liquidation of Government Debt," Working Paper Series WP11-10, Peterson Institute for International Economics.
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