scholarly journals General Government Debt and Budget Deficit as Threats to Economic Security of the European Union Countries

2019 ◽  
Vol 53 (1) ◽  
pp. 55-67
Author(s):  
Grzegorz Górniewicz
Keyword(s):  
European Union ◽  
Budget Deficit ◽  
Union Member ◽  
Descriptive Analysis ◽  
Government Debt ◽  
Economic Security ◽  
The European Union ◽  
Statistical Data Analysis ◽  
General Government ◽  
European Union Member States

Abstract The aim of the article is to present budget deficit and government debt in the European Union member states, with particular consideration of the countries that belong to the PIIGS group. This paper has focused on the scale of these phenomena, on their reasons and on some attempts made to improve the unfavourable situation. In the main thesis presented in the article, it is stated that budget deficit and general government debt come as significant threats to economic security of the European Union (EU) countries. The research methods that have been applied in the study involve descriptive analysis and statistical data analysis.

How to Lose (and Regain) 3.6 Billion Euros

2021 ◽  
pp. 45-50
Author(s):  
Rob Kitchin
Keyword(s):  
Data Entry ◽  
Government Debt ◽  
Housing Finance ◽  
National Accounts ◽  
Data Entry Error ◽  
General Government ◽  
Irish Government ◽  
Treasury Management ◽  
The Government ◽  
General Secretary

This chapter imagines a conversation between two senior civil servants when they realize that the Irish government has lost 3.6 billion euros through a spreadsheet error. The Assistant Secretary of the Department of Finance reports to the General Secretary that the accountant was not sure how to classify a loan to the Housing Finance Agency (HFA) from the National Treasury Management Agency (NTMA). They had assumed that it might be adjusted for elsewhere in the General Government Debt calculations, but it was not. As such, the government debt appears twice in the national accounts, once as an asset for the NTMA and once as a liability for the HFA. The General Secretary then asks why the data entry error was not picked up. The Assistant Secretary answers that everybody assumed that somebody else had dealt with it. The accounts got returned, nobody spotted the mistake, and everyone moved onto to other tasks.

Establishment of an Administered Account for Interim Holdings of Voluntary Contributions for Fund Activities and Establishment of a Framework Administered Account for Selected Fund Activities - Subaccount for the Administration of Selected Smaller-Scale Capacity Building Activities

Policy Papers ◽  
2010 ◽  
Vol 2010 (87) ◽  
Author(s):  
Keyword(s):  
Capacity Building ◽  
Emerging Economies ◽  
Government Debt ◽  
Fiscal Consolidation ◽  
Current Trends ◽  
Percentage Points ◽  
Age Related ◽  
Starting Point ◽  
General Government ◽  
Building Activities

This paper identifies policy tools to support fiscal consolidation in the years ahead. Its starting point is the analysis in the recent Board papers describing strategies for fiscal consolidation (IMF, 2010a, 2010b), which showed that on current trends, general government debt in advanced countries would rise 36 percentage points of GDP during 2007–14, and that age-related spending (health and pension) would rise rapidly later, further adding to fiscal pressures. Trends are more favorable in emerging economies, but adjustments are needed there too.

scholarly journals Government debt in Greece: An empirical analysis

2014 ◽  
Vol 3 (2) ◽  
pp. 7-17
Author(s):  
Gisele Mah ◽  
Itumeleng Mongale ◽  
Janine Mukuddem-Petersen ◽  
Mark Petersen
Keyword(s):  
Function Analysis ◽  
Negative Relationship ◽  
Impulse Response Function ◽  
Government Debt ◽  
Current Account Balance ◽  
Model Framework ◽  
Vector Error Correction ◽  
Vector Error ◽  
General Government ◽  
Government Deficit

Greek government debt has been increasing above the percentage stated in the growth and stability path from 112.9% in 2008 to 175.6% in 2013. This paper investigates the determinants of the general government debt in Greek by means of Vector Error Correction Model framework, Variance Decomposition and Generalized Impulse Response Function Analysis. The analysis showed a significant negative relationship between general government debt and government deficit, general government debt and inflation. Shocks to general government and inflation will cause general government debt to increase. Government deficit should be increased since there is gross capital formation included in its calculation which could be invested in income generating projects. The current account balance should be reduced by improving the net trade balance

Re-Examining Public Debt and Current Account Dynamics in Ethiopia: SVAR Evidence

2020 ◽  
Author(s):  
Wondemhunegn Ezezew Melesse
Keyword(s):  
Current Account ◽  
Public Debt ◽  
Time Series Data ◽  
Emerging Market ◽  
Government Debt ◽  
Debt Management ◽  
Series Data ◽  
Current Account Balance ◽  
Current Account Dynamics ◽  
General Government

Abstract Public debt management is now an integral part of overall macroeconomic management in many developing and emerging market economies. Preventing unsustainable debt accumulation and maintaining healthy fiscal profile begins with understanding its key drivers both in the short- and in the long run. This study applies structural vector auto-regressive (SVAR) model on annual time series data to study general government debt and current account dynamics in Ethiopia for the period 1980–2018. Both the impulse response and forecast error variance decomposition results confirm that fiscal balance exerts the strongest influence on both government debt and current account balance in the short run. In addition, own shock as well as shocks stemming from gross fixed capital formation and growth have significant effects on general government debt. The findings were robust to alternative data transformation, differing Choleski ordering of the model variables, and inclusion of exogenous deterministic terms that capture changes in the political landscape.JEL classification: E60, E63, C32, H63

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