IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

Volatility Of International Financial Markets And Public Debt Sustainability

  • George GEORGESCU

    (Institute of National Economy)

Under the circumstances of markets volatility persistence, the global financial balances deteriorated during the post-crisis period. In the case of advanced countries, the bailout of the private banking system by public or multilateral financial intervention, instead of leading to financial rebalancing has transferred a systemic risk to the sovereign level. Bringing high public debts back to sustainable levels by budgetary constraints of austerity programs has proved to hamper the economic growth that increased, in fact, the risk of sovereign default. Romania witnessed an excessive rise in the public indebtedness during 2007-2013 to unsustainable levels, which needs to be addressed by improving the public debt management and achieving surpluses in the primary balance.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.revecon.ro/articles/2013-2/2013-2-10.pdf
Download Restriction: no

Article provided by Institute of National Economy in its journal Romanian Journal of Economics.

Volume (Year): 37 (2013(XXIII))
Issue (Month): 2(46) (December)
Pages: 135-152

as
in new window

Handle: RePEc:ine:journl:v:2:y:2013:i:44:p:135-152
Contact details of provider: Postal: Casa Academiei, Calea 13 Septembrie nr.13, sector 5, Bucure┼čti 761172
Phone: 004 021 318.24.67
Fax: 004 021 318.24.67
Web page: http://www.ien.ro/
Email:


More information through EDIRC

References listed on IDEAS
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.:

as in new window
  1. Zaman, Gheorghe & Georgescu, George, 2011. "Sovereign risk and debt sustainability: warning levels for Romania," MPRA Paper 32924, University Library of Munich, Germany.
  2. Arnaud Mehl, 2013. "Large global volatility shocks, equity markets and globalisation: 1885-2011," Globalization and Monetary Policy Institute Working Paper 148, Federal Reserve Bank of Dallas.
  3. Carmen M. & M. Belen Sbrancia, 2011. "The Liquidation of Government Debt," Working Paper Series WP11-10, Peterson Institute for International Economics.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:ine:journl:v:2:y:2013:i:44:p:135-152. 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: (Valentina Vasile)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.