The transition from private debt to public debt – A case study of Romania

Liviu Fetic
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Liviu Fetic: Bucharest University of Economic Studies, Romania

Theoretical and Applied Economics, 2015, vol. XXII, issue Special(II), 176-181

Abstract: This paper tries to analyze the process in which Romania went in just two years from an economic tiger in Eastern Europe to a country that uses a rescue package from the famous troika: IMF, World Bank and European Commission. As the IMF agreements end in mid-2015, we come to some interesting conclusions and see some of the IMF conditions put into practice, like the fiscal buffer. This paper investigates the relationship between public debt, public deficit and economic growth in Romania over a period of 25 years, starting in 1990. The period under review has two important events regarding the impact of public debt on economic growth rates: the EU accession and the financial crisis of 2007-09, followed by the euro zone debt crisis.

Keywords: public debt; private debt; IMF. (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:xxii:y:2015:i:special(ii):p:176-181

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