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Pronađeno 14 rezultata
eng PUBLIC DEBT CRISIS: ROOTS, EVOLUTION & CONSEQUENCES
Batrancea, Ioan; Moscviciov, Andrei; Sabau, Catalin; Nichita, Anca
DIEM
Vol. 1, No. 1, 2013
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...
Hrčak ID: 161432
eng THE EUROPEAN DEBT CRISIS: CAUSES AND CONSEQUENCES
Beker, Victor A.
DIEM
Vol. 1, No. 1, 2013
A common explanation for the European debt crisis has been that the introduction of the euro in 2001 caused interest rates to fall in those countries where expectations of high inflation previously kept interest rates high. Bond buyers assumed that a bond issued by any government in the European Monetary Union was equally safe. As a result, the interest rates on Greek, Italian, etc. government bonds were not significantly different from the interest rate on the German government bonds. Governments responded to the low interest rates by increasi...
Hrčak ID: 161434
eng The Inflationary Effects of Budget Deficit in Nigeria
Adekunle, Oludayo Elijah
Review of Innovation and Competitiveness
Vol. 8, No. 1, 2022
Purpose. Chronic budget deficit and rising inflation have been the major problems of government in Nigeria with their implication for significant macroeconomic variables. The government’s efforts in curbing these problems have not yielded the expected result. Thus, this study investigated the inflationary effects of the budget deficit in Nigeria.
Methodology. Augmented-Dickey Fuller test, Bound Test and Autoregressive Distributed Lag test (ARDL) were used for analysis. Data were sourced from Central Bank of Nigerian Statistical Bulletin from 1...
Hrčak ID: 286248
eng Identifying relationship between macroeconomic and fiscal policy variables for EU countries and Turkey
Temur, Yusuf; Çiçek, Halit; Eroğlu, İlhan; Erdem, Cumhur
Economic research - Ekonomska istraživanja
Vol. 30, No. 1, 2017
Following the 2008 global financial crisis, the European Debt Crisis
has affected the world economy more than any other event. The
member states of the European Monetary Union have deviated from
the Maastricht Convergence Criteria (MCC) and this has led to the
European Debt Crisis. We have used the 2000 Q1–2011 Q4 data and
multivariate time series and panel data analysis for determining the
relationship among the variables that establish the MCC comprising
inflation, burden of net public debt, interest rate, budget deficit
and exchange...
Hrčak ID: 180807
eng The optimal fiscal rule in the context of accession to the Eurozone
Krajewski, Piotr; Mackiewicz, Michał; Piłat, Katarzyna
Economic research - Ekonomska istraživanja
Vol. 28, No. 1, 2015
The aim of the paper is to compare the macroeconomic effects of fiscal rules that can be applied in the context of the future full participation of Poland in the Economic and Monetary Union. The results of our analyses show that we observe the smallest changes in the structural balance when fiscal policy is aimed at both GDP stabilisation and business cycles synchronisation. Unfortunately, when we analyse the characteristics of the fiscal rule we discover that the possibility of effective practical application of such a rule is very limited. Th...
Hrčak ID: 171528
eng Macroeconomic effects of the budget deficit in the Republic of Macedonia
Noveski, Martin
Croatian Review of Economic, Business and Social Statistics
Vol. 4, No. 2, 2018
Although a decade has passed since the global financial and economic crisis of 2008, the expansionary fiscal policy in Macedonia can still be felt, primarily through an increased level of public expenditures aimed at stimulation of the economic growth. From 2008 onwards, the Republic of Macedonia has continuously recorded a negative budget balance, which affects the resources allocation and the overall economic situation. The question that arises is whether such interference by the Government in the functioning of the market economy is necessar...
Hrčak ID: 209776
hrv Učinci fiskalne konsolidacije u zemljama Zapadnog Balkana
eng Effects of fiscal consolidation in Western Balkan Countries
Krajišnik, Milenko; Gligorić, Dragan; Gojković, Biljana
Zbornik radova Ekonomskog fakulteta u Rijeci
Vol. 37, No. 2, 2019
Svjetska ekonomska kriza zahvatila je zemlje Zapadnog Balkana. Recesija koju je karakteriziralo smanjenje privredne aktivnosti, pad potrošnje i povećanje zaposlenosti bila je praćena smanjenjem javnih prihoda. Posljedica takvog stanja je budžetska neravnoteža koja se manifestirala u vidu strukturnog budžetskog deficita i rasta javnog duga. Fiskalna konsolidacija u svim zemljama bila je neophodna. U procesu fiskalne konsolidacije dolazi do promjene pojedinih elemenata fiskalne politike koji se razlikuju od zemlje do zemlje. U tom procesu , struk...
Hrčak ID: 231295
eng Legal central bank independence and inflation in various phases of transition
Piplica, Damir
Economic research - Ekonomska istraživanja
Vol. 28, No. 1, 2015
The transition environment of 11 EU member countries has created an exceptional opportunity for research on the influence of legal central bank independence (LCBI) on inflation within significantly different circumstances in comparison to developed Western countries. I construct my own transformed GMT (TGMT) model for estimation
of the LCBI, researching transition in its early stages and later on, thus comprising the total period of transition. Even in early stages of the transition LCBI has significantly negative effects on inflation. In late...
Hrčak ID: 171497
hrv Proračunski deficit, ponuda novca i inflacija: slučaj Pakistana
eng Budget Deficit, Money Supply and Inflation: The Case of Pakistan
Mukhtar, Tahir; Zakaria, Muhammad
Privredna kretanja i ekonomska politika
Vol. 20, No. 122, 2010
Konvencionalno vjerovanje sugerira da konstantno visoki proračunski deficiti dovode do porasta inflacije, što sama monetarna politika ne može spriječiti. No, rezultati empirijskih istraživanja ne potkrepljuju uvijek ovu hipotezu. Ovaj rad preispituje to pitanje u slučaju Pakistana koristeći Johansenovu kointegracijsku analizu. Empirijski rezultati ukazuju da dugoročno gledano inflacija nije povezana s proračunskim deficitom već samo s ponudom novca te ne postoji uzročna veza između ponude novca i proračunskog deficita. Stoga proizlazi da čvrsto...
Hrčak ID: 52667
eng The impact of the exchange rate on the foreign trade imbalance during the economic crisis in the new EU member states and the Western Balkan countries
Rajković, Miloš; Bjelić, Predrag; Jaćimović, Danijela; Verbič, Miroslav
Economic research - Ekonomska istraživanja
Vol. 33, No. 1, 2020
This paper examines the relationship between the real exchange
rate and the foreign trade imbalance in both the Western Balkan
(WB) and Central and Eastern European (CEE) countries. During
the most recent global economic crisis, examining the impact of
the exchange rate on the balance of trade took on a particular
importance. Countries used a variety of monetary policy regimes
and, depending on their choice, they had different economic
instruments available to deal with the crisis. The aim of the
research was whether exchange rate deval...
Hrčak ID: 254371