Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2020.1776137
Public debt’s predictors in EU: evidence from members and non-members of European Monetary Union
Miloš Pjanić
Nada Milenković
Jelena Andrašić
Branimir Kalaš
Vera Mirović
Sažetak
The global economic crisis destabilised the public debt of many
countries. The purpose of this paper is to investigate the predictors
of public debt in European Union countries divided into nonmember
countries and members of the European Monetary
Union in the period from 2001 to 2018. The aim is to discover
their relationship with public debt and make recommendations
for economic policy-makers. The empirical analysis was based on
comparative research design, quantitative methodology and secondary
data collection. It included 13 variables, with public debt
being the dependent variable and the selected 12 economic indicators
were treated as predictors. The analysis was based on a
procedure for linear mixed models in the IBM SPSS. The basic
finding was that only unemployment was statistically significant
predictor of public debt in both groups of countries. Other predictors
differed, and there were statistically significant differences
in the magnitude of their impacts. Obtained results indicate that
unemployment is one of the most important problems of all
European Union countries. In addition, a major challenge for monetary
and fiscal policy-makers will be profiling adequate tax,
credit, and interest rate policies to reduce debt and accelerate
economic growth.
Ključne riječi
Public debt; European Union; European Monetary Union; longitudinal data; linear mixed procedure
Hrčak ID:
254722
URI
Datum izdavanja:
9.2.2021.
Posjeta: 497 *