Changes in sovereign debt dynamics in Central and Eastern Europe

Juan Cuestas

No wp2018-06, Bank of Estonia Working Papers from Bank of Estonia

Abstract: The aim of this paper is to shed some light on the degree of sustainability of fiscal debt for a group of Central and Eastern European countries. We apply a battery of time series econometrics methods to show how the financial crisis has affected the debt-to-GDP ratio and how the ratio has behaved recently. The results give us important insights into how governments in Central and Eastern Europe have reacted to the accumulation of debt. We distinguish between two groups of countries; one group where the sovereign debt stock stabilised after the crisis, and another where debt has been accumulated more quickly in recent years. The results provide important policy lessons for the authorities responsible

Keywords: Central and Eastern Europe; structural breaks; European integration (search for similar items in EconPapers)
JEL-codes: C22 F15 (search for similar items in EconPapers)
Date: 2019-01-23
New Economics Papers: this item is included in nep-eec and nep-tra
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http://dx.doi.org/10.23656/25045520/062018/0158 (application/pdf)

Related works:
Journal Article: Changes in sovereign debt dynamics in Central and Eastern Europe (2020)
Working Paper: Changes in sovereign debt dynamics in Central and Eastern Europe (2016)
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