Determinants of public debt in EU countries

• Autorzy: Toth Peter , Tkacova Andrea , Gavurova Beata , Pechova Victoria

Identyfikatory

DOI

10.17512/pjms.2022.25.1.25

Warianty tytułu

PL

Determinanty długu publicznego w krajach UE

• Języki publikacji: EN

Abstrakty

EN

Due to the Covid-19 pandemic, governments must support their economy to prevent a possible recession which will lead to an increase in public debt. Therefore, it is necessary to know important determinants of public debt. This paper provides an analysis of public debt determinants. The main aim of the article is to identify the impact of specific variables on the level of public debt in EU countries by using econometric methods. The article analyses studies that focus on determinants of public debt, and it defines ten fundamental independent (explanatory) variables. Panel data regression model is used to monitor the impact of these variables on an independent variable - public debt, while it uses data from 1999 to 2019. The model’s results show that the growth of variables, such as current account balance of payments, budget balance, public administration investments, inflation rate, and GDP growth, lead to reducing public debt in EU countries. On the other hand, the increase in variables, such as annual population density change and budget expenditure, leads to public debt growth. The impact of both, unemployment rate and purchasing power parity, on public debt is insignificant based on the study results.

PL

W związku z pandemią Covid-19 rządy muszą wspierać swoją gospodarkę, aby zapobiec ewentualnej recesji, która doprowadzi do wzrostu długu publicznego. Dlatego konieczna jest znajomość ważnych determinant długu publicznego. Artykuł zawiera analizę determinant długu publicznego. Głównym celem artykułu jest identyfikacja wpływu poszczególnych zmiennych na poziom długu publicznego w krajach UE za pomocą metod ekonometrycznych. Artykuł analizuje badania, które koncentrują się na determinantach długu publicznego i definiuje dziesięć podstawowych zmiennych niezależnych (objaśniających). Panelowy model regresji danych służy do monitorowania wpływu tych zmiennych na zmienną niezależną - dług publiczny, natomiast wykorzystuje dane z lat 1999- 2019. Wyniki modelu pokazują, że wzrost zmiennych, takich jak bilans płatniczy obrotów bieżących, saldo budżetowe , inwestycje administracji publicznej, inflacja i wzrost PKB prowadzą do redukcji długu publicznego w krajach UE. Z drugiej strony wzrost zmiennych, takich jak roczna zmiana gęstości zaludnienia i wydatki budżetowe, prowadzi do wzrostu długu publicznego. Wpływ zarówno stopy bezrobocia, jak i parytetu siły nabywczej na dług publiczny jest, jak wynika z wyników badań, nieznaczny.

Słowa kluczowe

EN

public debt; determinants of public debt; panel regression; EU countries

PL

dług publiczny; determinanty długu publicznego; regresja panelowa; kraje UE

• Wydawca: Czestochowa University of Technology
• Czasopismo: Polish Journal of Management Studies
• Rocznik: 2022
• Tom: Vol. 25, No. 1
• Strony: 406--424
• Opis fizyczny: Bibliogr. 63 poz., rys., tab.

Twórcy

autor

Toth Peter

• Technical University of Košice, Faculty of Economics

autor

Tkacova Andrea

• Technical University of Košice, Faculty of Economics

autor

Gavurova Beata

• Technical University of Košice, Faculty of Mining, Ecology, Process Control and Geotechnologies

autor

Pechova Victoria

• Technical University of Košice, Faculty of Economics

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Uwagi

Opracowanie rekordu ze środków MEiN, umowa nr SONP/SP/546092/2022 w ramach programu "Społeczna odpowiedzialność nauki" - moduł: Popularyzacja nauki i promocja sportu (2022-2023).