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Indebted World And Knowledge For The Future

Author

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  • RICHARD POSPISIL

    (Associate Professor, Ph.D. Moravian University College Olomouc, Kosmonautu 1, Olomouc, CZECH REPUBLIC)

Abstract

For more than a decade, the amount of public debt is one of the biggest problem in advanced economies. Level of public debt is not only the very one indicator of the risk of national bankruptcy, even though it is the most important indicator. Solution of debt service in indebted economies basicallyconsists of two possible options. The first option way of saving of all kinds of expenses, with the exceptionof investments, the other option is to support economic growth with a positive impact on the relative levelof public debt. At the same time it shows that bankruptcies of national economies happen in clusters and linked adjacent to each other due to financial market integration. The aim of this article is to show possible ways of solution of consequences of financial crisis and he high debt levels of advanced economies.

Suggested Citation

  • Richard Pospisil, 2015. "Indebted World And Knowledge For The Future," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 3(2), pages 12-18, November.
    • Handle: RePEc:ntu:ntugeo:vol3-iss2-15-012
    as

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    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2014. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," Annals of Economics and Finance, Society for AEF, vol. 15(2), pages 215-268, November.
    2. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters, in: This Time Is Different: Eight Centuries of Financial Folly, Princeton University Press.
    3. Carmen M. Reinhart & Vincent R. Reinhart, 2015. "Financial Crises, Development, and Growth: A Long-term Perspective," The World Bank Economic Review, World Bank, vol. 29(suppl_1), pages 53-76.
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    More about this item

    Keywords

    debt; deficit; GDP.;
    All these keywords.

    JEL classification:

    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt

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