Impact of COVID-19 Pandemic on Public Debt – International Perspective
A direct consequence of the pandemic was the widespread occur-rence, and in many OECD countries – a growing public finance imbalance. The paper presents the results of research on the dynamics and structure of public debt, its relation to GDP and to the net borrowing of the general government sector...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Sciendo
2022-12-01
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| Series: | Studies in Logic, Grammar and Rhetoric |
| Subjects: | |
| Online Access: | https://doi.org/10.2478/slgr-2022-0014 |
| _version_ | 1797848539565391872 |
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| author | Bitner Michał Sierak Jacek |
| author_facet | Bitner Michał Sierak Jacek |
| author_sort | Bitner Michał |
| collection | DOAJ |
| description | A direct consequence of the pandemic was the widespread occur-rence, and in many OECD countries – a growing public finance imbalance. The paper presents the results of research on the dynamics and structure of public debt, its relation to GDP and to the net borrowing of the general government sector. The main purpose of the article is to show the impact of the pandemic on the size and structure of public debt in the largest EU economies, as well as in other selected OECD countries. An attempt was also made to identify factors that had a significant impact on the amount of public debt during the pandemic. The new debt was used primarily to finance net borrowing and, ultimately, to support the economy and selected social groups. However, as the article points out, the new debt to a significant extent financed the increase in liquidity in the public sector, and in some cases – a larger volume of loans granted by public sector entities and their equity investments. |
| first_indexed | 2024-04-09T18:29:10Z |
| format | Article |
| id | doaj.art-de717fa2ad124c65adaec3df09f11b90 |
| institution | Directory Open Access Journal |
| issn | 2199-6059 |
| language | English |
| last_indexed | 2024-04-09T18:29:10Z |
| publishDate | 2022-12-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Studies in Logic, Grammar and Rhetoric |
| spelling | doaj.art-de717fa2ad124c65adaec3df09f11b902023-04-11T17:28:18ZengSciendoStudies in Logic, Grammar and Rhetoric2199-60592022-12-0167126929510.2478/slgr-2022-0014Impact of COVID-19 Pandemic on Public Debt – International PerspectiveBitner Michał0Sierak Jacek1Warsaw University Faculty of Law and AdministrationWarsaw School of Economics Collegium of Management and FinanceA direct consequence of the pandemic was the widespread occur-rence, and in many OECD countries – a growing public finance imbalance. The paper presents the results of research on the dynamics and structure of public debt, its relation to GDP and to the net borrowing of the general government sector. The main purpose of the article is to show the impact of the pandemic on the size and structure of public debt in the largest EU economies, as well as in other selected OECD countries. An attempt was also made to identify factors that had a significant impact on the amount of public debt during the pandemic. The new debt was used primarily to finance net borrowing and, ultimately, to support the economy and selected social groups. However, as the article points out, the new debt to a significant extent financed the increase in liquidity in the public sector, and in some cases – a larger volume of loans granted by public sector entities and their equity investments.https://doi.org/10.2478/slgr-2022-0014coronavirus pandemicpublic financesnet borrowingpublic debt |
| spellingShingle | Bitner Michał Sierak Jacek Impact of COVID-19 Pandemic on Public Debt – International Perspective Studies in Logic, Grammar and Rhetoric coronavirus pandemic public finances net borrowing public debt |
| title | Impact of COVID-19 Pandemic on Public Debt – International Perspective |
| title_full | Impact of COVID-19 Pandemic on Public Debt – International Perspective |
| title_fullStr | Impact of COVID-19 Pandemic on Public Debt – International Perspective |
| title_full_unstemmed | Impact of COVID-19 Pandemic on Public Debt – International Perspective |
| title_short | Impact of COVID-19 Pandemic on Public Debt – International Perspective |
| title_sort | impact of covid 19 pandemic on public debt international perspective |
| topic | coronavirus pandemic public finances net borrowing public debt |
| url | https://doi.org/10.2478/slgr-2022-0014 |
| work_keys_str_mv | AT bitnermichał impactofcovid19pandemiconpublicdebtinternationalperspective AT sierakjacek impactofcovid19pandemiconpublicdebtinternationalperspective |