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     Government debt in Greece:  an empirical analysis

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    Date
    2014
    Author
    Mah, Gisele
    Mongale, Itumeleng Pleasure
    Mukuddem-Petersen, Janine
    Petersen, Mark Adam
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    Abstract
    Greek government debt has been increasing above the percentage stated in the growth and stability path from 112.9% in 2008 to 175.6% in 2013. This paper investigates the determinants of the general government debt in Greek by means of Vector Error Correction Model framework, Variance Decomposition and Generalized Impulse Response Function Analysis. The analysis showed a significant negative relationship between general government debt and government deficit, general government debt and inflation. Shocks to general government and inflation will cause general government debt to increase. Government deficit should be increased since there is gross capital formation included in its calculation which could be invested in income generating projects. The current account balance should be reduced by improving the net trade balance.
    URI
    http://hdl.handle.net/10394/18170
    http://www.virtusinterpress.org/GOVERNMENT-DEBT-IN-GREECE-AN.html
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