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Public Debt Structure and Dynamics in the Czech Republic, Hungary, Poland and Romania

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  • Joanna Siwinska-Gorzelak

Abstract

This paper attempts to consider in a systematic way the developments of the public debt in the Czech Republic, Hungary, Poland and Romania during the 1990.s. After a brief outline of the public indebtedness of the four countries before 1989, it examines the public debt dynamics after 1990 and tries to capture its main determinants: to what extend the changes in the public debt ratio to GDP were caused by fiscal policy as opposed to other factors, like the difference between the growth rate of the economy and the effective interest rate on debt. The structure of the public debt is shown and main changes are summarised. The paper also tries to assess the implications of the countries. indebtedness to their further fiscal sustainability.

Suggested Citation

  • Joanna Siwinska-Gorzelak, 1999. "Public Debt Structure and Dynamics in the Czech Republic, Hungary, Poland and Romania," CASE Network Studies and Analyses 0162, CASE-Center for Social and Economic Research.
    • Handle: RePEc:sec:cnstan:0162
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    File URL: https://case-research.eu/upload/publikacja_plik/SA162.pdf
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    References listed on IDEAS

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    1. Hamid Faruqee & Douglas Laxton & Steven Symansky, 1997. "Government Debt, Life-Cycle Income, and Liquidity Constraints: Beyond Approximate Ricardian Equivalence," IMF Staff Papers, Palgrave Macmillan, vol. 44(3), pages 374-382, September.
    2. Seater, John J, 1993. "Ricardian Equivalence," Journal of Economic Literature, American Economic Association, vol. 31(1), pages 142-190, March.
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    Cited by:

    1. Mariusz Jarmuzek, 2005. "Are the EU new member states fiscally sustainable? An empirical analysis," UCL SSEES Economics and Business working paper series 51, UCL School of Slavonic and East European Studies (SSEES).
    2. Max Gillman, 1999. "Evaluating Government Policy in Transition Countries," CASE Network Studies and Analyses 0156, CASE-Center for Social and Economic Research.

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