According to Bohn (1995, 2008), the conventional sustainability tests, based on analyzing cointegration between government revenues and expenditures, are inconclusive for determining the sustainability of fiscal policy. ...

Sub-Saharan African countries as a group showed a considerable reduction in public and external indebtedness in the early 2000s as a result of debt relief programs, higher economic growth and improved fiscal management ...

This paper analyses public debt in the most indebted Caribbean countries – i.e. Barbados, Belize, Guyana, Jamaica, Antigua and Barbuda, Dominica, Grenada, and St. Kitts and Nevis – from the standpoint of its sustainability. ...

The relationship between sovereign risk and indebtedness level is an important guide for evaluating the probability of a debt default. The market discipline hypothesis establishes that the risk premium increases with ...

Campos and Cysne (2019a) use the multicointegration method to analyze the behavior of Brazilian public debt between 1997 and 2018. The authors observe, in this previous work, the necessity of evaluating the existence of a ...

The Journal of Globalization and Development (JGD) sets the agenda for the future of studies in the rapidly evolving fields related to development and globalization. The journal brings together academic research and policy ...

The COVID-19 pandemic hit Jordan economy after a decade of mediocre growth. While growing at 6.1 percent during 2000-2009, the economy decelerated to 2.2 percent in 2010-2019 and fell 1.6 percent in 2020. With an increasing ...

In this paper we re-analyze the question of the U.S. public debt sustainability by using a quantile autoregression model. This modeling allows for testing whether the behavior of U.S. public debt is asymmetric or not. Our ...

In this paper, we investigate three central issues in public finance. First, was the path of public debt sustainable during 1947-1992? Second, how has the government balanced the budget after shocks to either revenues or ...