The U.S. Public Debt Crisis: A Catalyst for Fiscal Reform and Economic Growth

2011 ◽  
Author(s):  
William J. Dodwell, MBA, CPA
Keyword(s):  
Economic Growth ◽  
Public Debt ◽  
Debt Crisis ◽  
Fiscal Reform ◽  
The U.S

scholarly journals Primary Fiscal Performance, Economic Growth, and Public Debt in Lebanon

2021 ◽  
Vol 15 (2) ◽  
pp. 187-197
Author(s):  
Carole Ibrahim
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Public Debt ◽  
Debt Crisis ◽  
Economic Growth Rate ◽  
Fiscal Performance ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Short Run ◽  
The Government

Lebanese public debt has been accumulating since 1990, after the end of the civil war. Recently, concerns about the ability of the government to keep servicing its debt have emerged, particularly because the debt-to-GDP ratio reached almost 147% at the end of 2018. This study aims to examine whether a cointegrating relationship exists among primary fiscal performance, real economic growth, and public debt in Lebanon using an autoregressive distributed lag (ARDL) model between 2000 and 2018. The ARDL results suggest the non-existence of a cointegrating relationship and hence the unsustainability of the Lebanese public debt. The evidence of the short-run estimation indicates that better primary fiscal performance and a higher economic growth rate reduce Lebanese public debt in the short run. This study proposes that immediate reforms that increase the primary fiscal surplus and attract investors are crucial to prevent a debt crisis in the country.

scholarly journals Determinants of the Public Debt in the Eurozone and Its Sustainability Amid the Covid-19 Pandemic

2020 ◽  
Vol 12 (16) ◽  
pp. 6456 ◽  
Author(s):  
Hernán Ricardo Briceño ◽  
Javier Perote
Keyword(s):  
Economic Growth ◽  
Life Expectancy ◽  
Public Debt ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Debt Sustainability ◽  
The Public ◽  
Institutional Conditions ◽  
Life Expectancy At Birth ◽  
Sustainable Economic Growth

Different economic studies have been concentrated on specific and/or isolated factors to explain public debt evolution. In this article we have developed an integrated viewpoint based on financial, social and governance or institutional factors. Under our dynamic econometric assessment for the last two decades (i.e., since the Euro currency inception), economic growth, interest rate, life expectancy at birth, unemployment, government effectiveness and the last sovereign debt crisis have resulted as being the major determinants of its evolution. Public debt sustainability must be assessed continuously with the aim to discuss technical recommendations to maintain it at an even rate, to allow sustainable economic growth and better life standards, in the context of life expectancy increasing and stable governance and institutional conditions. Undoubtedly, the Covid-19 pandemic leads more damaged Eurozone countries with negative real economic growth and high unemployment rates to increase dramatically their current public debts, to such an extent that they could fall into unsustainable paths. Therefore, substantial reforms in European pension and unemployment insurance systems are necessary conditions to ensure public debt sustainability amid Covid-19 pandemic.

“The Real Nature and Spirit of Our Lives”

2018 ◽  
Author(s):  
Amanda Porterfield
Keyword(s):  
Economic Growth ◽  
African Americans ◽  
Social Organization ◽  
Labor Unions ◽  
Social Evolution ◽  
Fourteenth Amendment ◽  
The Real ◽  
Real Nature ◽  
Republican Liberty ◽  
The U.S

Proponents of social evolution blurred boundaries between commerce and Christianity after the Civil War, championing Christian work as a means to economic growth, republican liberty, and national prosperity. Meanwhile, workers invoked Christ to condemn patronizing attitudes toward labor, and by organizing labor unions to hold capitalists accountable to Pauline ideals of social membership. Influenced by organic theories of social organization that traced modern corporations to medieval institutions, U.S. courts began recognizing corporations as natural persons protected by rights guaranteed in the Fourteenth Amendment of the U.S. Constitution, which had originally be crafted to protect the rights of African Americans.

How Does Public Debt Affect the Indian Macroeconomy? A Structural VAR Approach

2020 ◽  
Vol 14 (3) ◽  
pp. 253-284
Author(s):  
Ranjan Kumar Mohanty ◽  
Sidheswar Panda
Keyword(s):  
Economic Growth ◽  
Interest Rate ◽  
Public Debt ◽  
Positive Impact ◽  
Decomposition Analysis ◽  
Structural Var ◽  
Adverse Impact ◽  
Mixed Effect ◽  
Domestic Debt ◽  
The Impact

The study investigates the macroeconomic effects of public debt in India during 1980–2017 using a structural vector autoregression framework. The objective is to examine the impact of public debt on the interest rate, investment, inflation and economic growth in India. The results of the impulse response functions show that public debt has an adverse impact on economic growth but a positive impact on the long-term interest rate in the short run and a mixed effect (both negative and positive) on investment and inflation. We also find that domestic debt has a more adverse impact on the economy than external debt. The estimated variance decomposition analysis finds that much of the variation in selected macro variables are explained by public debt and growth in India. This study suggests that public debt especially domestic debt should be controlled and channelled productively to have a favourable impact on the economy. JEL Classification: H63, O40, C40

Direct Foreign Investment and Economic Development in Latin America: Perspectives for the Future

1989 ◽  
Vol 21 (1-2) ◽  
pp. 221-239 ◽  
Author(s):  
Eva Paus
Keyword(s):  
Economic Growth ◽  
Latin American ◽  
Foreign Investment ◽  
Debt Crisis ◽  
Direct Foreign Investment ◽  
Bank Lending ◽  
Economic Growth And Development ◽  
International Bank ◽  
The Future ◽  
Latin American Countries

Since 1982, most Latin American countries have witnessed slow economic growth and a persistent net transfer of funds to the rest of the world as a result of sharply reduced inflows of private international bank lending and large debt payment obligations. Against this background direct foreign investment (DFI) has received increasing attention as one important element in overcoming the present stagnation-cum-debt crisis as well as in contributing to renewed economic growth. This article explores the possible contributions of DFI to the future economic growth and development of the region.1

Sign in / Sign up

Export Citation Format

Share Document