Search results for "public debt"
showing 9 items of 19 documents
Endeudamiento municipal en la región de Lleida a finales del siglo XVII
2018
Este articulo quiere analizar la evolución del endeudamiento de los municipios de la región económica de Lleida a finales del siglo XVII para poner de relieve no solo el enorme peso que este tuvo sobre los municipios catalanes de los siglos modernos, sino también el efecto que causó la expansión económica de los años previos a la guerra de Sucesión sobre esta deuda. Durante los años estudiados hemos podido observar una mejora evidente sobre el nivel de endeudamiento comunal, pero también la persistencia de problemas crónicos en las finanzas municipales. In this paper is analyzed the municipal debt evolution of the Lleida region during the late seventeenth century. It highlights the importan…
Funding System
2015
The entry discusses the 1820 article, Funding System, David Ricardo wrote for the Supplement to the sixth edition of the Encyclopedia Britannica. It also investigates Ricardo's views on public debt and capital levy
Doing Math in Mussolini’s Pocket : Ernesto Rossi and Fascist Public Finance (1926-1930)
2023
This essay deals with the brief but intense collaboration of Ernesto Rossi with the «Riforma Sociale», a prestigious journal of economics and social sciences founded by Francesco Saverio Nitti in 1894 and directed by Luigi Einaudi since 1908. Between 1926 and 1930, Rossi authored seven long essays on issues of public finance, applied economics, and economic statistics that have been relatively neglected by historiography. The rereading of these contributions allows us to illuminate some central moments in his training as an economist. This essay focuses on four articles he devoted to a deep analysis of the Italian budget and public debt, recalculating public revenues and expenses, with rela…
Considerazioni sulla finanza pubblica italiana tra il XIX ed il XX secolo
2015
This essay deals with the doctrinal debate emerging from articles and editorials by econoil mists published on newspapers such as Corriere della Sera, Il Giornale d'Italia, Il Sole, La Tribuna, Il Mattino, Il Secolo. The debate increased interest in items of public finance from 1890 to the rise of fascism in Italy. During thirty years, public debt, tax reform, fiscal matters, finance during war-time and problems relating to rail transport were the main debated topics. These issues show the economic and financial structure of the country in order to better understand the development opportunities which Italy enjoyed introducing the reform necessary to modernize the economic framework.
Transformation of the agricultural financial system in the age of globalisation
2017
The paper is an attempt to address the advantages and risks connected with the wave of financial globalisation, with a focus on its impact on financial policy in European agriculture. The aim of the paper is to identify the basic conditions of the functioning and change of the financial system of agriculture under the conditions of the globalisation of financial markets. Financial globalisation, also referred to as financial integration or openness, is understood as an increase in global ties and interdependences caused by capital flows. Potentially, globalisation can bring a lot of benefits, which are manifested in an acceleration of economic growth and decreased fluctuation in consumption…
Las agencias de calificación y la deuda pública en la Comunidad Valenciana
2020
Resumen El objetivo de esta investigación es analizar la influencia que han tenido los mayores niveles de endeudamiento público sobre los ratings emitidos por las agencias de calificación para la Comunidad Valenciana. La acumulación de déficits junto con el estallido de la burbuja inmobiliaria terminó por afectar de manera negativa a la contabilidad pública. Asimismo, los recursos transferidos a través del sistema de financiación tampoco ayudaron a revertir la insuficiencia de ingresos para la administración valenciana. Las restricciones presupuestarias fueron reflejadas de inmediato por las agencias de calificación a través de una reducción en sus ratings, generando dificultades para obten…
CLASSIFICATION OF EUROPEAN UNION COUNTRIES ACCORDING TO NATIONAL COMPETITIVENESS AND SOVEREIGN DEBT LEVELS
2013
National competitiveness is defined by World Economic Forum as "the set of institutions, policies, and factors that determine the level of productivity of a country". Therefore, the competitiveness of the European Union member states will be analyzed in the context of the governments' economic policies implemented in the previous period that had as main effects an increased public debt and an exposure of European Union to sovereign debt crisis. This paper attempts to examine how public debt takes its toll on the competitiveness of the EU member countries. So, the researchers will explore the strength of the connection between the percentage of public debt in GDP and the national competitive…
PUBLIC EXPENDITURES FOR DEVELOPMENT - THEIR ROLE IN OVERCOMING THE ECONOMIC CRISIS AND ALIGNMENT OF ROMANIA TO EUROPEAN UNION REQUIREMENTS
2011
This paper analyses the role of public capital expenditure in Romania. There were identified two important roles of public expenditures for development in Romania, currently: levers for overcoming the economic crisis, and a means to align Romania to European Union requirements stipulated in the revised Lisbon Strategy. The analysis concluded that these expenses, although with a relative value twice the EU average, experienced a strong downward trend with the economic crisis, so as they have not contributed to economic recovery. Regarding the second role, matching the EU requirements in development, has not been reached. This is demonstrated by the Lisbon index, according to which in 2008 Ro…
Testing explosive bubbles with time-varying volatility: the case of Spanish public debt
2023
In this paper the dynamics of the Spanish public debt-GDP ratio is analysed during the period 1850–2021. We use recent procedures to test for explosive bubbles in the presence under time- varying volatility (Harvey et al., 2016; Harvey et al., 2019, 2020; Kurozumi et al., 2022) in order to test the explosive behavior of Spanish public debt over this long period. We extend previous analysis of Esteve and Prats (2022) where assume constant unconditional volatility in the underlying error process.