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Public Debt in the Central and Eastern European Countries - Development in the Context of the World Economic Crisis

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  • Eva Karpová

Abstract

Many of the Central and Eastern European countries faced general government balance problems in the 1990s, already during their transition period. Moreover, these problems continued during their EU accession. After both the Eastern enlargements, the situation was improving and, besides, the general government debt were kept at low levels. Later on, however, the economic crisis brought serious difficulties to general government balances. General government debt were also increasing. The article brings an overview and comments on these facts in a macroeconomic context. (Figures and comments are primarily deduced from Eurostat and OECD sources.)

Suggested Citation

  • Eva Karpová, 2011. "Public Debt in the Central and Eastern European Countries - Development in the Context of the World Economic Crisis," Acta Oeconomica Pragensia, University of Economics, Prague, vol. 2011(6), pages 21-38.
  • Handle: RePEc:prg:jnlaop:v:2011:y:2011:i:6:id:349:p:21-38
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    More about this item

    Keywords

    unemployment; economic crisis; Central and Eastern European countries; general government deficit/surplus; general government debt; external debt; GDP;

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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