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Debt Burden in Romanian Economy

Author

Listed:
  • Gina Ioan

    (Danubius University of Galati)

Abstract

The paper treats the debt burden in Romanian economy. The rigidity of the structure of public spending has not allowed rapid adjustment to respond to massive reduction of production and income, reflected in excessive budget deficits and public debt doubled in a few years. The paper concludes that public debt which is poorly structured, is an important factor in macroeconomic instability and also in propagating economic crises.

Suggested Citation

  • Gina Ioan, 2013. "Debt Burden in Romanian Economy," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 9(6), pages 89-94, December.
    • Handle: RePEc:dug:actaec:y:2013:i:6:p:89-94
    as

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    File URL: http://journals.univ-danubius.ro/index.php/oeconomica/article/view/1697/2004
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    References listed on IDEAS

    as
    1. 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.
    2. Barro, Robert J, 1979. "On the Determination of the Public Debt," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 940-971, October.
    3. Stephen Cecchetti & Madhusudan Mohanty & Fabrizio Zampolli, 2011. "The real effects of debt," BIS Working Papers 352, Bank for International Settlements.
    4. Menbere Workie Tiruneh, 2004. "An Empirical Investigation Into the Determinants of External Indebtedness," Prague Economic Papers, Prague University of Economics and Business, vol. 2004(3), pages 261-277.
    Full references (including those not matched with items on IDEAS)

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