{"id":7509,"date":"2024-05-25T17:15:51","date_gmt":"2024-05-25T17:15:51","guid":{"rendered":"https:\/\/revista.isfin.ro\/?p=7509"},"modified":"2024-06-22T08:46:41","modified_gmt":"2024-06-22T08:46:41","slug":"assessment-of-public-debt-drivers-in-the-balkans","status":"publish","type":"post","link":"https:\/\/revista.isfin.ro\/en\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/","title":{"rendered":"ASSESSMENT OF PUBLIC DEBT DRIVERS IN THE BALKANS"},"content":{"rendered":"
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

Authors: Kevin Bica, Erinda Imeraj<\/p>

Vol. 9 \u2022 No. 16 \u2022 May 2024<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\n\t\t\t\t<\/i>\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\n\t\t\t\t\t\tView article PDF\t\t\t\t\t<\/a>\n\t\t\t\t<\/h6>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\n\t\t\t\t<\/i>\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\n\t\t\t\t\t\tView abstract PDF\t\t\t\t\t<\/a>\n\t\t\t\t<\/h6>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

Abstract<\/strong><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

This study investigates the main drivers of public debt and assesses the overall debt structure in the Balkan countries. Regardless of a close to 50% average debt level, there is no immediate threat of escalation compared to developed countries. The empirical analysis leverages three advanced econometric techniques to control for cross-country specifics and potential biases due to data disruptions. Sourced from the World Bank and the International Monetary Fund, the data are of quantitative type collected from 2000-2021. Empirical evidence suggests that Real GDP Growth and Current Account balance are crucial determinants of economic performance, with political regimes also exerting a notable influence. As the time frame of the research consists of the COVID-19 pandemic, it is essential to consider structural breakdowns to avoid any coefficient biases. Unsurprisingly, the dummy variable COVID-19 depicts a significant effect as public debt increased by 2.51 percentage points once the pandemic occurred. The rest of the variables, including interest rates, government expenditure, and unemployment rate, are statistically insignificant. Empirical evidence from the present study supports the hypothesis that pursuing genuine economic development through the advocacy of domestic production and trade, coupled with the consolidation of democratic institutions, can act as a check on the spiraling growth of public debt.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

Keywords:<\/strong> Public debt, Economic Growth, COVID-19, Panel Data, Inflation, Balkans.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

JEL Classification:<\/strong> E02, E12, E62.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

DOI: <\/strong>10.55654\/JFS.2024.9.16.04
<\/strong><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t
\n\n \n\n
\n\n \n BACK<\/span>\n\n <\/div>\n <\/a>\n <\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

Authors: Kevin Bica, Erinda Imeraj Vol. 9 \u2022 No. 16 \u2022 May 2024 View article PDF View abstract PDF Abstract This study investigates the main drivers of public debt and assesses the overall debt structure in the Balkan countries. Regardless of a close to 50% average debt level, there is no immediate threat of escalation …<\/p>\n

ASSESSMENT OF PUBLIC DEBT DRIVERS IN THE BALKANS<\/span> Read More »<\/a><\/p>","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[182],"tags":[],"yoast_head":"ASSESSMENT OF PUBLIC DEBT DRIVERS IN THE BALKANS - Revista de Studii Financiare<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/revista.isfin.ro\/en\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASSESSMENT OF PUBLIC DEBT DRIVERS IN THE BALKANS - Revista de Studii Financiare\" \/>\n<meta property=\"og:description\" content=\"Authors: Kevin Bica, Erinda Imeraj Vol. 9 \u2022 No. 16 \u2022 May 2024 View article PDF View abstract PDF Abstract This study investigates the main drivers of public debt and assesses the overall debt structure in the Balkan countries. Regardless of a close to 50% average debt level, there is no immediate threat of escalation … ASSESSMENT OF PUBLIC DEBT DRIVERS IN THE BALKANS Read More »\" \/>\n<meta property=\"og:url\" content=\"https:\/\/revista.isfin.ro\/en\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/\" \/>\n<meta property=\"og:site_name\" content=\"Revista de Studii Financiare\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-25T17:15:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-22T08:46:41+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ri_admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/revista.isfin.ro\/#website\",\"url\":\"https:\/\/revista.isfin.ro\/\",\"name\":\"Revista de Studii Financiare\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/revista.isfin.ro\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/revista.isfin.ro\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/#webpage\",\"url\":\"https:\/\/revista.isfin.ro\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/\",\"name\":\"ASSESSMENT OF PUBLIC DEBT DRIVERS IN THE BALKANS - Revista de Studii Financiare\",\"isPartOf\":{\"@id\":\"https:\/\/revista.isfin.ro\/#website\"},\"datePublished\":\"2024-05-25T17:15:51+00:00\",\"dateModified\":\"2024-06-22T08:46:41+00:00\",\"author\":{\"@id\":\"https:\/\/revista.isfin.ro\/#\/schema\/person\/cb451c6ce2c3ed0e695a33cff252c24c\"},\"breadcrumb\":{\"@id\":\"https:\/\/revista.isfin.ro\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/revista.isfin.ro\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/revista.isfin.ro\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Prima pagin\\u0103\",\"item\":\"https:\/\/revista.isfin.ro\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASSESSMENT OF PUBLIC DEBT DRIVERS IN THE BALKANS\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/revista.isfin.ro\/#\/schema\/person\/cb451c6ce2c3ed0e695a33cff252c24c\",\"name\":\"ri_admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/revista.isfin.ro\/#personlogo\",\"inLanguage\":\"en-GB\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/bc19f50ceb5e198ffca0e5aa08b76935?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/bc19f50ceb5e198ffca0e5aa08b76935?s=96&d=mm&r=g\",\"caption\":\"ri_admin\"},\"sameAs\":[\"http:\/\/Revista%20ISFIN\"],\"url\":\"https:\/\/revista.isfin.ro\/en\/author\/ri_admin\/\"}]}<\/script>","yoast_head_json":{"title":"ASSESSMENT OF PUBLIC DEBT DRIVERS IN THE BALKANS - Revista de Studii Financiare","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/revista.isfin.ro\/en\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/","og_locale":"en_GB","og_type":"article","og_title":"ASSESSMENT OF PUBLIC DEBT DRIVERS IN THE BALKANS - Revista de Studii Financiare","og_description":"Authors: Kevin Bica, Erinda Imeraj Vol. 9 \u2022 No. 16 \u2022 May 2024 View article PDF View abstract PDF Abstract This study investigates the main drivers of public debt and assesses the overall debt structure in the Balkan countries. Regardless of a close to 50% average debt level, there is no immediate threat of escalation … ASSESSMENT OF PUBLIC DEBT DRIVERS IN THE BALKANS Read More »","og_url":"https:\/\/revista.isfin.ro\/en\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/","og_site_name":"Revista de Studii Financiare","article_published_time":"2024-05-25T17:15:51+00:00","article_modified_time":"2024-06-22T08:46:41+00:00","twitter_card":"summary_large_image","twitter_misc":{"Written by":"ri_admin","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/revista.isfin.ro\/#website","url":"https:\/\/revista.isfin.ro\/","name":"Revista de Studii Financiare","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/revista.isfin.ro\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/revista.isfin.ro\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/#webpage","url":"https:\/\/revista.isfin.ro\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/","name":"ASSESSMENT OF PUBLIC DEBT DRIVERS IN THE BALKANS - Revista de Studii Financiare","isPartOf":{"@id":"https:\/\/revista.isfin.ro\/#website"},"datePublished":"2024-05-25T17:15:51+00:00","dateModified":"2024-06-22T08:46:41+00:00","author":{"@id":"https:\/\/revista.isfin.ro\/#\/schema\/person\/cb451c6ce2c3ed0e695a33cff252c24c"},"breadcrumb":{"@id":"https:\/\/revista.isfin.ro\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/revista.isfin.ro\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/revista.isfin.ro\/2024\/05\/25\/assessment-of-public-debt-drivers-in-the-balkans\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Prima pagin\u0103","item":"https:\/\/revista.isfin.ro\/"},{"@type":"ListItem","position":2,"name":"ASSESSMENT OF PUBLIC DEBT DRIVERS IN THE BALKANS"}]},{"@type":"Person","@id":"https:\/\/revista.isfin.ro\/#\/schema\/person\/cb451c6ce2c3ed0e695a33cff252c24c","name":"ri_admin","image":{"@type":"ImageObject","@id":"https:\/\/revista.isfin.ro\/#personlogo","inLanguage":"en-GB","url":"https:\/\/secure.gravatar.com\/avatar\/bc19f50ceb5e198ffca0e5aa08b76935?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/bc19f50ceb5e198ffca0e5aa08b76935?s=96&d=mm&r=g","caption":"ri_admin"},"sameAs":["http:\/\/Revista%20ISFIN"],"url":"https:\/\/revista.isfin.ro\/en\/author\/ri_admin\/"}]}},"_links":{"self":[{"href":"https:\/\/revista.isfin.ro\/en\/wp-json\/wp\/v2\/posts\/7509"}],"collection":[{"href":"https:\/\/revista.isfin.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/revista.isfin.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/revista.isfin.ro\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/revista.isfin.ro\/en\/wp-json\/wp\/v2\/comments?post=7509"}],"version-history":[{"count":10,"href":"https:\/\/revista.isfin.ro\/en\/wp-json\/wp\/v2\/posts\/7509\/revisions"}],"predecessor-version":[{"id":8230,"href":"https:\/\/revista.isfin.ro\/en\/wp-json\/wp\/v2\/posts\/7509\/revisions\/8230"}],"wp:attachment":[{"href":"https:\/\/revista.isfin.ro\/en\/wp-json\/wp\/v2\/media?parent=7509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/revista.isfin.ro\/en\/wp-json\/wp\/v2\/categories?post=7509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/revista.isfin.ro\/en\/wp-json\/wp\/v2\/tags?post=7509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}