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Debunking the Relevance of the Debt-to-GDP Ratio
SSRN Electronic Journal, 2018Debt-to-GDP ratios do not predict fiscal outcomes. As ratios of government debt rise, some societies manage to deliver more responsible fiscal behaviour. Low debt ratios often mask dangerous currency or maturity mismatches which can suddenly impair banks and governments. Contingent liabilities, especially arising from the banking system, have the power
Arturo C. Porzecanski
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Sovereign Debt Restructuring and Reduction in Debt-to-GDP Ratio
SSRN Electronic Journal, 2023Sakai Ando +3 more
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The Effect of Government Spending on the Debt‐to‐
AbstractAccording to the standard approach to the issue of public debt sustainability, fiscal austerity is the route that many countries must currently follow to reduce their debt‐to‐GDPratios back to sustainable paths. We challenge this conventional wisdom and argue that, below full employment, an increase in government spending may ...
P. Leão
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Debt‐to‐GDP changes and the great recession: European Periphery versus European Core
International Journal of Finance and Economics, 2022In this paper, we use simple accounting schemes and counterfactual experiments, to compare the sources of changes in the public debt to GDP ratio across countries of the European Periphery (Greece, Ireland, Italy, Portugal and Spain), the European Core ...
Maria‐Eleni K. Agoraki +3 more
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The Debt-to-GDP Ratio as a Tool for Debt Management: Not Good for LICs
SSRN Electronic Journal, 2023There have been criticisms of debt sustainability analysis in general, including the IMF's own evaluation of the usefulness of its debt sustainability methodology (e.g., IMF, 2017). This paper's focus is narrow. On the basis of theoretical arguments and empirical evidence, it argues that the debt-to-GDP ratio is a poor metric for debt management in low-
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Economia Politica, 2023
The paper analyzes the relationship between the interest rate and the public debt-to-GDP ratio through the lens of the Classical-Keynesian approach. We focus on the value dimension as a transmission channel of monetary policy, modeling how a change in the interest rate set by the central bank affects the economy’s capital intensity and, in turn, debt ...
Di Domenico, Lorenzo +2 more
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The paper analyzes the relationship between the interest rate and the public debt-to-GDP ratio through the lens of the Classical-Keynesian approach. We focus on the value dimension as a transmission channel of monetary policy, modeling how a change in the interest rate set by the central bank affects the economy’s capital intensity and, in turn, debt ...
Di Domenico, Lorenzo +2 more
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Le Ratio Dette Publique/PIB a-t-il Un Sens Economique? (Does the Debt to GDP Ratio Make Sense?) [PDF]
SSRN Electronic Journal, 2015 French Abstract: Le ratio dette publique / PIB est devenu l’un des principaux criteres d’evaluation des politiques economiques, et le respect d’un plafond de 60%, inscrit dans le Traite de Maastricht, une contrainte imposee a tous les gouvernements europeens.
Marius Frunza, Didier Marteau
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The link between public debt and investment: an empirical assessment from emerging markets
Applied Economics, 2021This paper provides empirical evidence of the relationship between public debt/GDP ratio and investment. Based on panel data analysis considering 24 emerging markets from 1996 to 2018, we investigate the effect of an increase in public debt on investment
Helder Ferreira de Mendonça +1 more
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The Relationship Between Public Investment To GDP Ratio And External Debt Stocks In Kenya
, 2016Debt is a two-edged sword. External borrowing for productive investment is associated with macroeconomics stability, increased domestic savings, improved welfare and enhanced debt repayment ability; while over accumulation of debt is associated with ...
F. Mweni
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