IDEAS home Printed from https://ideas.repec.org/a/ipf/finteo/v40y2016i1p63-83.html
   My bibliography  Save this article

The structure and economic significance of government guarantees in Croatia and the European Union

Author

Listed:
  • Marko Primorac

    (University of Zagreb, Faculty of Economics and Business, Zagreb, Croatia)

  • Ivan Zupancic

    (Privredna banka Zagreb, Zagreb, Croatia)

Abstract

In the aftermath of the financial crisis, when countries are facing difficulties in raising the amounts of revenue needed to cover the expenditure side of the budget, fiscal risks can pose a significant threat to the sustainability of public finance. This became particularly evident in the case of public enterprises and their liabilities, which often increased public debt because of difficulties in meeting their financial obligations. The aim of this paper is to evaluate fiscal risks from government guarantees in Croatia and the European Union in general. Moreover, the paper aims to analyse the dynamics of the value and structure of government guarantees in Croatia in the period from 2009 to first half of 2015. Particular emphasis is placed on the impact of government guarantees on direct public debt in the context of methodological changes in the registration of public debt.

Suggested Citation

  • Marko Primorac & Ivan Zupancic, 2016. "The structure and economic significance of government guarantees in Croatia and the European Union," Financial Theory and Practice, Institute of Public Finance, vol. 40(1), pages 63-83.
    • Handle: RePEc:ipf:finteo:v:40:y:2016:i:1:p:63-83
    as

    Download full text from publisher

    File URL: http://fintp.ijf.hr/upload/files/ftp/2016/1/primorac_zupancic.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    fiscal risks; contingent liabilities; government guarantees; public debt; Croatia;
    All these keywords.

    JEL classification:

    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ipf:finteo:v:40:y:2016:i:1:p:63-83. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Martina Fabris (email available below). General contact details of provider: https://edirc.repec.org/data/ijfffhr.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.