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Evolution Of The Main Indicators Of Public Debt Sustainability In The Period 2014-2018 In Romania

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  • Luiza Madalina APOSTOL

    (Faculty of Economics and Law, University of Pitesti, Romania)

Abstract

Romania's public debt is below the value registered by most of the EU member states, but its accelerated evolution and the pro-cyclical nature of the fiscal policy require a careful evaluation. The sustainability of the public finances must be a major challenge for the public policies. In order to maintain a sustainable level of the public debt, it is necessary to achieve the medium-term budgetary objective, to ensure a downward trend of the public debt share in the gross domestic product, by strictly observing the rules of budgetary policy. This paper shows an analysis of the public debt sustainability in Romania, for the period 2014 - 2018.

Suggested Citation

  • Luiza Madalina APOSTOL, 2019. "Evolution Of The Main Indicators Of Public Debt Sustainability In The Period 2014-2018 In Romania," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 18(2), pages 36-47.
  • Handle: RePEc:pts:journl:y:2019:i:2:p:36-47
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    References listed on IDEAS

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    1. Checherita-Westphal, Cristina & Rother, Philipp, 2010. "The impact of high and growing government debt on economic growth: an empirical investigation for the euro area," Working Paper Series 1237, European Central Bank.
    2. Michael Woodford, 1998. "Control of the Public Debt: A Requirement for Price Stability?," International Economic Association Series, in: Guillermo Calvo & Mervyn King (ed.), The Debt Burden and its Consequences for Monetary Policy, chapter 5, pages 117-158, Palgrave Macmillan.
    3. Carmen M. Reinhart & Kenneth S. Rogoff, 2010. "Growth in a Time of Debt," American Economic Review, American Economic Association, vol. 100(2), pages 573-578, May.
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    More about this item

    Keywords

    Public debt; Public debt sustainability; Budget deficit; Primary balance.;
    All these keywords.

    JEL classification:

    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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