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El Mercado Financiero Y El Racionamiento Del Endeudamiento Autonómico

Author

Listed:
  • Nuria Alcalde Fradejas

    (Universidad de Zaragoza)

  • Jaime Vallés Giménez

    (Universidad de Zaragoza)

Abstract

. En la actualidad, hay un interesante debate sobre la forma más efectiva de restringir los comportamientos irresponsables de las políticas fiscales en el ámbito de la Unión Económica y Monetaria Europea. Se ha argumentado que el mercado financiero puede desempeñar un papel positivo como mecanismo disciplinador para los deudores públicos que adoptan políticas de endeudamiento arriesgadas. Un aspecto importante de la hipótesis del mercado como instrumento de control de la deuda es que asume una relación no lineal entre los diferenciales en los tipos de interés que soportan los distintos agentes económicos y la deuda acumulada por cada uno de ellos. Empleando información de los gobiernos regionales españoles, aportamos evidencia empírica que sustenta la hipótesis del mercado como garante de cierta austeridad financiera.

Suggested Citation

  • Nuria Alcalde Fradejas & Jaime Vallés Giménez, "undated". "El Mercado Financiero Y El Racionamiento Del Endeudamiento Autonómico," Working Papers 4-02 Classification-JEL :, Instituto de Estudios Fiscales.
    • Handle: RePEc:hpe:wpaper:y:2002:i:4
    as

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    File URL: http://www.ief.es/documentos/recursos/publicaciones/papeles_trabajo/2002_04.pdf
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    References listed on IDEAS

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    Cited by:

    1. Roberto Fernández Llera, 2016. "Control del endeudamiento autonómico y estabilidad presupuestaria: Evolución y propuestas de futuro," Revista de Estudios Regionales, Universidades Públicas de Andalucía, vol. 1, pages 103-136.

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