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Relating Debt to Inflation among Transition Economies: A Blueprint from Mature Economies?

Author

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  • Trond-Arne Borgersen

    (Faculty of Economics, Social Sciences and Languages, Østfold University College, Remmen, Halden, Ostfold N-1757, Norway.)

  • Roswitha M King

    (Faculty of Economics, Social Sciences and Languages, Østfold University College, Remmen, Halden, Ostfold N-1757, Norway.)

Abstract

Do transition economies carry features distinct from those of mature economies? Exploring the relation between debt and inflation in mature and transition economies in a two-sector model with endogenous industrial structure, structural factors are shown to hinder achieving balanced performance on debt and inflation for transition economies, quite distinct from mature economies. The Maastricht criteria on debt and inflation, making no distinction between these types of economies, serve as a frame of reference. Should both types of economies face the same euro-zone entry conditions? As our reasoning shows how one size does not fit all, our answer is no.

Suggested Citation

  • Trond-Arne Borgersen & Roswitha M King, 2013. "Relating Debt to Inflation among Transition Economies: A Blueprint from Mature Economies?," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 55(4), pages 606-635, December.
    • Handle: RePEc:pal:compes:v:55:y:2013:i:4:p:606-635
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    Cited by:

    1. Borgersen, Trond-Arne & King, Roswitha M., 2014. "Structural origins of debt-sustainability in mature and transition economies: Domar, Balassa–Samuelson and Maastricht," Structural Change and Economic Dynamics, Elsevier, vol. 30(C), pages 101-119.
    2. Borgersen, Trond-Arne & King, Roswitha M., 2015. "Endogenous supply side constraints to export-led growth and aggregate growth implications in transition economies," Structural Change and Economic Dynamics, Elsevier, vol. 33(C), pages 96-109.
    3. Danijela DURKALIĆ & Mihailo ĆURČIĆ, 2019. "Comparative analysis of debt sustainability of EU countries and EU candidates: the Promethee-Gaia approach," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 10, pages 67-92, June.

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