DETERMINANTS OF PUBLIC DEBT IN EU COUNTRIES

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2022-06-01 DOI:10.17512/pjms.2022.25.1.25

Peter Tóth, Andrea Tkáčová, B. Gavurová, Viktoria Pechova

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Abstract

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. © 2022, Czestochowa University of Technology. All rights reserved.

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欧盟国家公共债务的决定因素

由于Covid-19大流行，各国政府必须支持其经济，以防止可能导致公共债务增加的经济衰退。因此，有必要了解公共债务的重要决定因素。本文对公共债务的决定因素进行了分析。本文的主要目的是通过计量经济学方法确定具体变量对欧盟国家公共债务水平的影响。本文分析了公共债务决定因素的研究，并定义了10个基本的自变量(解释变量)。面板数据回归模型用于监测这些变量对自变量——公共债务的影响，同时使用1999年至2019年的数据。模型结果表明，经常账户国际收支、预算收支、公共行政投资、通货膨胀率和GDP增长等变量的增长导致欧盟国家公共债务的减少。另一方面，年度人口密度变化和预算支出等变量的增加导致公共债务的增长。根据研究结果，失业率和购买力平价对公共债务的影响都是微不足道的。©2022，切斯托霍瓦理工大学。版权所有。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.