Public debt growth, great recession and fiscal consolidation-the Serbian episode

  • Vladimir Andric Institute of Economic Sciences, Belgrade
  • Jelena Minovic Institute of Economic Sciences (IES), Belgrade

Abstract


This paper analyses the dynamics of public debt growth in Serbia between the fourth quarter of 2004 (2004Q4) and the same quarter of 2017 (2017Q4). The empirical estimates capture the upward shift in public debt growth from the onset of the Great Recession. The results also show how policy makers have managed to curb the growth of public indebtedness in Serbia between 2014Q4-2017Q4. The government should, however, put greater fiscal efforts to reduce the overall share of public debt in gross domestic product in accordance with the fiscal rules of the Republic of Serbia and the Maastricht convergence criteria.

 

Author Biographies

Vladimir Andric, Institute of Economic Sciences, Belgrade

I am a Research Assistant at the Department for Multidisciplinary Research, Institute of Economic Sciences, Belgrade.

In my research I apply econometric methodology to answer questions of public interest in the areas of macroeconomics, energy economics and finance.

 

Jelena Minovic, Institute of Economic Sciences (IES), Belgrade

Senior Research Associate at IES, Belgrade

Scientific and Research Fields:

Quantitative Methods and Models in Finance and Economics

Econometrics & Time Series Analysis

Financial Economics & Financial Markets

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Published
2018/11/01
Section
Original Scientific Paper