The Stability and Growth Pact in Practice: inefficiencies of previous debt rules and the way forward

Ionut Jianu and Maria-Daniela Tudorache

EconStor Open Access Articles and Book Chapters, 2024, vol. 2024, issue 4, 261-278

Abstract: This paper aims to assess the compliance of the EU Member States with the previous debt rules over the period 2011-2023. To achieve this, we assessed two complementary criteria concerning public debt, respectively the compliance with the 60% of GDP threshold and the one related to the debt reduction rule, which indicates that Member States with public debt levels higher than 60% of GDP should reduce the difference between the level of public debt share in GDP and the 60% of GDP threshold with an average rate of 1/20 in the last three years. Further, we highlighted the reasons why the last economic governance framework was not effective and we presented the new debt rules in their revised form.

Keywords: Stability and Growth Pact; public debt; rules; fiscal; economic governance review (search for similar items in EconPapers)
JEL-codes: E62 E63 H62 H63 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/307994/1/S ... pact-in-practice.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:espost:307994

Access Statistics for this article

More articles in EconStor Open Access Articles and Book Chapters from ZBW - Leibniz Information Centre for Economics Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().