Volatility Of International Financial Markets And Public Debt Sustainability
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.
Volume (Year): 37 (2013(XXIII))
Issue (Month): 2(46) (December)
|Contact details of provider:|| Postal: Casa Academiei, Calea 13 Septembrie nr.13, sector 5, Bucureşti 761172|
Phone: 004 021 318.24.67
Fax: 004 021 318.24.67
Web page: http://www.ien.ro/
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.:
- Carmen M. & M. Belen Sbrancia, 2011.
"The Liquidation of Government Debt,"
Working Paper Series
WP11-10, Peterson Institute for International Economics.
- Carmen M. Reinhart & M. Belen Sbrancia, 2011. "The Liquidation of Government Debt," NBER Working Papers 16893, National Bureau of Economic Research, Inc.
- Carmen Reinhart & M. Belen Sbrancia, 2015. "The Liquidation of Government Debt," IMF Working Papers 15/7, .
- Carmen M. Reinhart & M. Belen Sbrancia, 2011. "The Liquidation of Government Debt," BIS Working Papers 363, Bank for International Settlements.
- Zaman, Gheorghe & Georgescu, George, 2011. "Sovereign risk and debt sustainability: warning levels for Romania," MPRA Paper 32924, University Library of Munich, Germany.
- 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.
- Mehl, Arnaud, 2013. "Large global volatility shocks, equity markets and globalisation: 1885-2011," Working Paper Series 1548, European Central Bank.
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 references are entirely missing, you can add them using this form.