TREND AND CHARACTERISTICS OF PUBLIC AND PRIVATE FOREIGN DEBT IN ROMANIA

Camelia Milea and Catalin Dragoi
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Catalin Dragoi: “Victor Slavescu” Centre for Financial and Monetary Research, Romanian Academy, Romania

Contemporary Economy Journal, 2023, vol. 8, issue 4, 5-14

Abstract: In the article, the authors analyse the evolution of long-term private and public external debt in Romania in the period 2008-2022, as well as the evolution of related services, highlighting some of their characteristics, especially from the point of view of costs. The research shows that although medium and long-term public external debt increases almost continuously during the analysed period, while medium and long-term private external debt fluctuates, the costs are higher in the case of medium and long-term private external debt. Thus, the private external debt service in the medium and long term is higher than the public external debt service in the medium and long term, a situation generated by better loan conditions in the case of public external debt. The authors also show that the medium and long-term external public debt, respectively the related service, has deeper annual fluctuations compared to the medium and long-term external private debt. The methodology used combines the empirical analysis of statistical data and their interpretation, with the identification of causalities.

Keywords: foreign loans; external debt service; causes; evolution; risk; costs (search for similar items in EconPapers)
JEL-codes: F34 H63 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:brc:brccej:v:8:y:2023:i:4:p:5-14

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