Is Public debt a brake for international competitiveness and a burden for future generations?

Jacques Fontanel ()
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Jacques Fontanel: CESICE - Centre d'études sur la sécurité internationale et les coopérations européennes - UGA - Université Grenoble Alpes - IEPG - Sciences Po Grenoble-UGA - Institut d'études politiques de Grenoble - UGA - Université Grenoble Alpes

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Abstract: Public debt is always seen as the result of mismanagement of public funds and as a burden that future generations will have to bear. This obviously depends on the type of debt and the economic circumstances of its development. In a crisis situation, the state is the economic agent capable of reviving national activity by investing and thus preparing the future of future generations. The weight of the debt, its spread over time, the nationality of the creditors, the investments effectively undertaken by the State or public administrations are all factors that deserve to be studied in order to analyse the interest of the public debt. Several methods exist which have been applied in economic history and which show that debt has often been the pragmatic and effective solution to combat national economic stagnation.

Keywords: Public debt burden; Interest rates; Economic growth; Public debt; Charge de la dette publique; Taux d’intérêt; Croissance économique; Dette publique (search for similar items in EconPapers)
Date: 2021-04-19
Note: View the original document on HAL open archive server: https://hal.univ-grenoble-alpes.fr/hal-03202444v1
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Published in Public Debt, St. Petersburg State University of Economics (UNECON), Apr 2021, Saint-Petersbourg, Russia

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