State Debt in the Post-crisis Period: Realities and Prospects
The goal of the article is clarification of the debt problems during the post-crisis period. Irrational debt policy based on considerations of the moment during the crisis and post-crisis periods formed risks of violation of the macro-financial stability in the country. This results in a number of negative tendencies, reduces fiscal environment and forms limitations for restoration of the state economy during the post-crisis period. Results of theoretical and empirical studies testify to the fact that the high state debt negatively influences the rates of economic growth under the influence of the following factors: de-stimulation of private investments, risks of default and financial destabilisation, increase of real interest rates, growth of vulnerability to the impact of external shocks, increase of macro-economic uncertainty and increase of default probability. It is expedient to continue the study of fiscal and budget policy and mechanisms of ensuring the debt stability of the countries with the aim to ensure restoration of economies during the post-crisis period.
Volume (Year): (2013)
Issue (Month): 10 ()
|Contact details of provider:|| Web page: http://www.business-inform.net|
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.:
- Jeffrey Frankel & Ben Smit & Federico Sturzenegger, 2008.
"South Africa: Macroeconomic challenges after a decade of success,"
The Economics of Transition,
The European Bank for Reconstruction and Development, vol. 16(4), pages 639-677, October.
- Frankel, Jeffrey & Smit, Ben & Sturzenegger, Federico, 2007. "South Africa: Macroeconomic Challenges after a Decade of Success," Working Paper Series rwp07-021, Harvard University, John F. Kennedy School of Government.
- Philippe Burger & Chandapiwa Jimmy, 2006. "Should South Africa Have A Fiscal Rule?," South African Journal of Economics, Economic Society of South Africa, vol. 74(4), pages 642-669, December.
- Macarena García & Pablo García & Bernardita Piedrabuena, 2005. "Fiscal and Monetary Policy Rules: The Recent Chilean Experience," Working Papers Central Bank of Chile 340, Central Bank of Chile.
When requesting a correction, please mention this item's handle: RePEc:idp:bizinf:y:2013:i:10:p:342_346. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alexey Rystenko)
If references are entirely missing, you can add them using this form.