러시아ㆍ유라시아
연구정보
[경제] Optimal Debt and the Quality of Institutions
러시아ㆍ유라시아 일반 국외연구자료 연구보고서 - Eurasian Development Bank 발간일 : 2020-11-18 등록일 : 2021-03-13 원문링크
Amid the COVID-19 pandemic policymakers now face the dilemma of whether to stimulate infrastructure development by raising debt, which may reduce future flexibility, or to strengthen their fiscal positions. In order to shed light on this issue, the present study analysed an optimal debt level, taking into account countries’ institutional characteristics.
The key findings on the debt–GDP relationship reveal monotonic increase of the debt threshold from less institutionally developed countries to more developed ones. While economies with weak political institutions feature a 37% debt-to-GDP threshold, in countries with strong institutions the debt threshold rises above 55% of GDP. This distribution of debt thresholds stresses the greater resilience of the advanced economies to growing debt burdens compared to their less institutionally sustainable peers.
본 페이지에 등재된 자료는 운영기관(KIEP) 및 EMERiCs의 공식적인 입장을 대변하고 있지 않습니다.
| 이전글 | [경제] 2021 국별 진출전략 : 우크라이나 | 2021-03-13 |
|---|---|---|
| 다음글 | [경제] Estimation of Non-Observable Economic Variables in EDB Member Countries | 2021-03-13 |
