Debt sustainability in the EU New Member States: Empirical evidence from a panel of eight Central and East European countries

Post-Communist Economies

Volumn 20, Issue 2, 2008, Pages 159-172

  Llorca, Matthieu ^a   Redzepagic, Srdjan ^b  

^a UNIVERSITÉ DE BOURGOGNE   (France)

^b UNIVERSITÉ CÔTE D'AZUR   (France)

Author keywords

[No Author keywords available]

Indexed keywords

DEBT; ECONOMETRICS; EMPIRICAL ANALYSIS; EUROPEAN UNION; FISCAL POLICY; PANEL DATA; PUBLIC SPENDING; SUSTAINABILITY;

BALTIC STATES; BULGARIA; CENTRAL EUROPE; CZECH REPUBLIC; EURASIA; EUROPE; NORTHERN EUROPE; POLAND; SLOVAKIA; SLOVENIA; SOUTHERN EUROPE;

EID: 47149118573     PISSN: 14631377     EISSN: 14653958     Source Type: Journal    
DOI: 10.1080/14631370802018882     Document Type: Article

References (27)

1. Afonso, A., Nickel, C. and Rother, P. (2006) Fiscal consolidations in the Central and Eastern European countries. Review of world economics, 142:2, pp. 402-421.
2. (1997) Fiscal policy in transition. Forum report of the economic policy initiative, 3, Centre for Economic Policy Research, London
3. Balassone, F. and Franco, D. (2000) Assessing fiscal sustainability: A review of methods with a view to EMU. In: Banca d'Italia. Fiscal sustainability essays, Bank of Italy Workshop
4. Baltagi, B. H. (2001) Econometric analysis of panel data, John Wiley & Sons, Chichester
5. Berger, H., Kopits, G. and Szekely, I. (2007) Fiscal indulgence in Central Europe: Loss of the external anchor?. Scottish journal of political economy, 54:1, pp. 118-137.
6. Bohn, H. (2007) Are stationarity and cointegration restrictions necessary for the intertemporal budget constraint?. Journal of monetary economics, 54, pp. 1837-1847.
7. Budina, N. and van Wijnbergen, S. (1997) Fiscal policies in Eastern Europe. Oxford review of economic policy, 13:2
8. Choi, I. (2001) Unit root tests for panel data. Journal of international money and finance, 20, pp. 249-272.
9. Dabrowski, M. (1996) The struggle for fiscal consolidation during the economic transition. Acta oeconomica, 48:1, pp. 31-58.
10. (2001) The eastern enlargement of the EU, Kluwer Academic Publishers, Boston, Dordrecht and London
11. EBRD (2001) Transition report update 2001, The European Bank for Reconstruction and Development, London
12. European Commission (2004) Public finances in EMU 2004. European economy reports and studies, 3
13. Green, C. J., Holmes, M. J. and Kowalski, T. (2001) Poland: A successful transition to budget sustainability?. Emerging markets review, 2, pp. 160-182.
14. Grigonyte, D. (2003) Impact of currency boards on fiscal policy in Central and Eastern European countries. Economics of planning, 36:2, pp. 111-133.
15. Gros, D. (2004) Fiscal costs of delaying the EMU accession - medium term fiscal projection for selected new EU members. Studies & analyses, 277
16. Hakkio, G. S. and Rush, M. (1991) Is the budget deficit too large?. Economic inquiry, 29, pp. 429-445.
17. Hamilton, J. D. and Flavin, M. A. (1986) On the limitations of government borrowing: A framework for empirical testing. American economic review, 76:4, pp. 808-819.
18. Hsiao, C. (2003) Analysis of panel data, Cambridge University Press, Cambridge
19. Im, K., Pesaran, M. H. and Shin, Y. (2003) Testing for unit roots in heterogeneous panels. Journal of econometrics, 115:1, pp. 53-74.
20. Kattai, R. and Lewis, J. (2005) Hooverism, hyperstabilisation of halfway-house? Describing fiscal policy in Central and Eastern European EU members. Baltic journal of economics, 6:1
21. Lewis, J. (2007) Fiscal policy in Central and Eastern Europe: What happened in the run-up to EU accession?. International economics and economic policy, 4:1, pp. 15-31.
22. Maddala, G. S. and Wu, S. (1999) A comparative study of unit root tests with panel data and new simple test. Oxford bulletin of economics and statistics, 61, pp. 631-652.
23. Pedroni, P. (1999) Critical values for cointegration tests in heterogeneous panels with multiple regressors. Oxford bulletin of economics and statistics, 61, pp. 653-670.
24. Pedroni, P. (2004) Panel cointegration: Asymptotic and finite sample properties of pooled tie series tests with an application to the PPP hypothesis. Econometric theory, 20, pp. 597-625.
25. Radulescu, D. M. (2003) An assessment of fiscal sustainability in Romania. Post-communist economies, 15:2, pp. 259-275.
26. Rapacki, R. (2003) Major challenges to fiscal discipline in Poland on the eve of its EU accession. Studia ekonomiczne, 36
27. Trehan, B. and Walsh, C. E. (1988) Common trends, government's budget constraint, and revenue smoothing. Journal of economic dynamics and control, 12, pp. 425-444.