Europos Sąjungos šalių valstybės skolos vertinimas /

The size of public debt is an important indicator of a country’s economy, because public debt service requires funds from the budget. In this way, there is a need to reduce costs, usually for social needs, which affect the living standards of the population. Competent management of the size and structure of public debt is therefore an important socio-economic task. Without a proper control and effective governance system, a critical level of public debt in one or another country can become a real threat to national economic security: restricting investment in the country's economy, diverting part of the budget from the country's socio-economic needs, or over-reliance on financial resources, etc. In order to analyze the public debt of the European Union countries and its assessment, the main goal of the work is to assess the level of public debt of individual EU countries and its possible consequences. The work consists of three parts. The first part is devoted to the theoretical aspects of public debt: the nature, type, causes and consequences of debt, as well as public debt management processes. The second part of the work reveals the indicators and structure of public debt assessment, its dynamics and regulatory problems. The third part assesses the development, prospects and trends of individual EU countries debt. In order to assess the development of debt, the following methods were used: analysis and generalization of scientific literature, monographic method of theoretical analysis, comparative analysis of statistical indicators, long-term statistical data analysis, vector autoregressive model (VAR), Granger causality test. Summarizing the theoretical part, it can be stated that the term public debt is used so often that it includes different concepts. Considering to the changing role of the governments, statistical concepts and available data on public debt are constantly adapting to the new challenges. Public debt surveys must cover public debt ratios that meet the country's requirements for economic security and financial stability. Empirical analysis has shown that there is no causal link between public debt and economic growth in the group of very high debt and high public debt countries. However, there is a weak causal link between government debt and the ratio of GDP to economic growth in the low government debt group. The causality between economic growth and public debt is also observed for both very high and low public debt groups in the EU. It is therefore necessary to keep public debt within acceptable limits, because it can have a negative impact on the country's economy and social life.

Grantor dc:publisher

Institutional Repository of Vilnius University

Year dc:date

2020

Author dc:creator

• Džementaitė, Justė,

Statement dc:rights

• info:eu-repo/semantics/openAccess

Language dc:language

lit

Repository record dc:identifier

https://repository.vu.lt/VU:ELABAETD193298455&prefLang=en_US

OAI identifier oai:identifier

oai:vu.lt:elaba:193298455