Old wine in a new bottle: public debt sustainability - evidence from a number of EU countries under fiscal consolidation

Nicholas Apergis ()

Economics and Business Letters, 2015, vol. 4, issue 4, 131-136

Abstract: This paper re-investigates the issue of public debt sustainability in the case of five European Union (EU) countries either under bailout programmes or adopting fiscal consolidation measures spanning the period 1980-2014. The empirical analysis makes use of the methodology of nonlinear unit root testing and the results provide robust evidence in favour of public debt sustainability for four countries, excluding Greece. These robust finding suggest that the current austerity programme adopted by the Greek economy triggers upward debt spirals contributing to its unsustainability and, therefore, growth oriented policies should be the primary ingredient of a different programme for the country to fiscally and economically survive.

Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://reunido.uniovi.es/index.php/EBL/article/view/10702 (text/html)

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:ove:journl:aid:10702

Access Statistics for this article

Economics and Business Letters is currently edited by Francisco J. Delgado

More articles in Economics and Business Letters from Oviedo University Press Contact information at EDIRC.
Bibliographic data for series maintained by Francisco J. Delgado ().