Conference paper

PUBLIC DEBT CRISIS: ROOTS, EVOLUTION & CONSEQUENCES

Ioan Batrancea orcid.org/0000-0001-7748-3010 ; Babes-Bolyai University Department of Finance, Faculty of Economics and Business Administration, Cluj-Napoca, Romania
Andrei Moscviciov ; Babes-Bolyai University Department of Business, Faculty of Business, Cluj-Napoca, Romania
Catalin Sabau ; Babes-Bolyai University Department of Finance, Faculty of Economics and Business Administration, Cluj-Napoca, Romania
Anca Nichita ; Babes-Bolyai University Department of Finance, Faculty of Economics and Business Administration, Cluj-Napoca, Romania

Abstract

Public debt was considered a reason of concern for many states. The problem became acute in the early ‘80s, when external debts ceased to be paid. Between 2001 and 2011, several developed countries were directly involved in external loans, because these investments could cover the bill for oil imports. The sovereign debt crisis is present not only in the European States, but in most countries experiencing high levels of indebtedness. Based on statistical data, the present paper highlights the roots, evolution and consequences of the public debt crisis in the EU, USA and Japan.

Keywords

public debt; GDP; budget deficit

Hrčak ID:

161432

URI

https://hrcak.srce.hr/161432

Publication date:

27.9.2013.

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