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The impact of public debt on Ghana's economic growth
Ansah, Ebenezer Yaw
ABSTRACT IN ENGLISH Using the Ordinary Least Square Technique, the research investigated the impact of public debt on economic growth in Ghana from 1980 to 2022. The Augmented Dickey Fuller (ADF) technique was also employed in the study to assess time series data stationarity. The time series plot was used in the study to assess the patterns in public debt and economic growth. To examine the impact of public debt on economic growth, the Ordinary Least Squares Method was utilized. The research showed a significant negative relationship between public debt and economic growth (GDP) across the study period. This suggests that the Ghanaian economy's sluggish growth is primarily due to the government's huge amounts of debt. Internal revenues that could have been used to propel expansion and growth are diverted to debt servicing both internally and outside. This has a rippling effect on the economy, and it is a major issue that the country should be able to look at and devise inventive methods for generating revenues while reducing excessive government expenditure. Over the years, government of Ghana has maintained a budget deficit and had to borrow to pay the salary of public sector workers. This is due to a lack of adequate fiscal policy to regulate policymakers' operations and spending habits. The country is also not coming up with new ways to generate revenue.
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Zadluženost veřejného sektoru ve vybraných zemích Evropské unie
Osičková, Eliška
This thesis analyzes the issue of fiscal imbalance in selected member states of European Union, namely, the first 12 states which officially introduced the Euro banknotes and coins in 2002. Empirical part of thesis analyzes the development of indebtedness in selected countries. The thesis also deals with the existence of causal relationship between public debt and economic growth in these countries via regression analysis of data panel for period 1995-2014 and 2008-2014. Sub-analysis of the thesis aims also at research of determinants of public debt in these countries.
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Možnosti řešení dluhové krize ve státech skupiny PIIGS
Skryjová, Kateřina
This bachelor thesis analyzes the current debt crisis in countries called PIIGS (Por-tugal, Italy, Ireland, Greece, Spain) and suggests possible solutions. The first part describes the development of the previous crisis and debt crisis as well. The sec-ond part focuses on PIIGS countries, analysis is made by case studies and graphs. The discussion is devoted to the recommendation of appropriate solutions for each country.
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Indebtedness of statutory cities
KUKRÁLOVÁ, Lucie
The thesis deals with the indebtedness of statutory cities in the Czech Republic and its development. It contains the characteristics of the types of repayable financial support, defines the terms related to the regulation of indebtedness, and describes the risks that arise from high indebtedness. The statutory cities and their management are also described. A large part of the work is also devoted to the description of legislative rules, their development, and their effectiveness. The practical part deals with defining the debt of statutory cities, determining its size, structure, and dynamics. It also compares the indebtedness of selected statutory cities according to debt instruments on the basis of their solvency and compliance with the rules of budgetary responsibility. Based on the results, it can be summarized that the share of statutory cities in public debt has been less than 5% in recent years and the share of municipalities has also remained below 10%. In general, we can say that the debt of municipalities, as well as statutory cities, has been developing favorably in recent years, is declining, and still appears to be negligible compared to the total public debt. The share of public debt in GDP is also kept below 60%, and the Czech Republic also complies with the Maastricht criterion. The statutory cities of Prague, Liberec and Olomouc appear to be the most problematic. Olomouc and Liberec have even exceeded the 60% threshold since the introduction of the budgetary responsibility rule in 2017.
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The concept of "Schuldenbremse" as an instrument against indebtedness in the Federal Republic of Germany
Říhová, Dominika ; Mlsna, Petr (advisor) ; Kunštát, Miroslav (referee)
As a result of the rapidly rising debt in recent years, the Federal Republic of Germany has decided to stop this unfavourable trend. The approval and acceptance of the so-called debt brake (Schuldenbremse) into the Basic Law in 2009 was also supported by the fact that the amount of public debt significantly exceeded the defined limit by the convergence criteria. With the financial crisis and the associated debt crisis within the eurozone, it turned out that the rules set out in the Stability and Growth Pact are being handled by a few states, and therefore some states have, due to their irresponsible fiscal policy, faced serious problems which are characterized by the inability to repay their obligations. Consequently, austerity measures had to be taken and at the same time, other EU countries have been invited to adjust their public finances to contribute to the consolidation of Economic and Monetary Union. As a result, debt brakes or other measures were then embedded in national legislation to prevent further crises. The German debt brake is a set of seven constitutional laws, where the main assumption is the annual setting of balanced budgets, or balanced income and expenditure, both at federal and state level, in order to prevent new further indebtedness. It was stipulated that the state budget...
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Budgetary responsibility
Jarošová, Tereza ; Boháč, Radim (advisor) ; Marková, Hana (referee)
The aim of this thesis is to analyse a concept of budgetary responsibility. Taking into account current financial crisis, this topic becomes more and more important, because long term deficit financing has had negative effects on the economic situation. Thesis aims to analyse the situation from legal as well as economic prospective. The thesis also compares legal adjustments of budgetary legislation and legal facts regarding rules of budgetary responsibility in the Czech Republic and Spain. The biggest stress is put on the analysis of subsequent findings and evaluation, whether or not the establishment of rules of budgetary responsibility is neccessary, which form (constitutional or statutory) and which content would be the most beneficial. The first chapter is dedicated to definition of concept of budgetary responsibility and related notions such as state budget and public debt, including contemplation about most common causes and consequences of those phenomenons. Since legal and economic discipline is mutualy connected, I incorporated also explanation of economic theoretical approaches to a deficit financing. Second and third chapter focuse on description of legal regulation of general part of budgetary law in the Czech Republic as well as description of current bills of constitutional laws...
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Dopady finanční krize na veřejné finance
Šulcová, Iveta
Šulcová, I. The impact of financial crisis on public finance. Diploma Thesis. Brno: Mendel University, 2017. The thesis deals with evaluation of the influence of financial crisis on public finance within EU countries. The first part of the thesis describes different types of crises and a general scheme of typical systemic financial crisis, which contains detailed description of its causes and the course of crisis outbreak. Following parts of the thesis list reactions of central banks and governments of individual countries of the European Union, which were intended to mitigate the impacts of the financial crisis and the following transfer of debt burden into public finance, which causes public debt growth. Using cluster analysis, the thesis analyzes details of macroeconomic development within EU countries in 2007, 2010 and 2014. The final part of the thesis compares macroeconomic differences between EU countries during the crisis and lists aforementioned measures regarding improvement of supervision over financial market in order to prevent or alleviate the influence of crisis upon taxpayers and real economics.
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Státní dluh České republiky
Sekničková, Petra
The thesis deals with the issue of the central government debt of the Czech Republic. That arises mainly from the state budget deficits, whose financing is the main item of the debt. There are annual reports from the Ministry of Finance, but there is no comprehensive analysis of year-on-year changes in the structure of this debt. This thesis therefore focuses on a detailed description of year-on-year movements in individual government debt components for the period 2005 to 2016, also taking into account the debt-to-GDP ratio. The analysis of the annual values of total debt and its components, domestic and foreign debt, from the time of the establishment of the Czech Republic in 1993 to the present, is used in the second part of the thesis.Based on these data there is a prediction till 2021 formed assuming that the course of development is maintained. This development is evaluated to reflect the projected development published in the mid-term outlook for the State Budget for 2017 with the forecast for 2020.
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Vývoj verejného dlhu vybraných krajín Európskej únie
Kubicová, Katarína
Bachelor thesis focuses on the issues of public debt of selected countries of the European Union and effect of policy acting on this public debt. Examined coun-tries are Czech Republic, Portugal and Sweden. The aim of this thesis is to individ-ually analyse progress of public debt of given countries specifically in the time span from the year 2005 to the year 2017, using the time series econometric methods. One section of the theoretical part is mostly dedicated to definitions of the main concepts like fiscal policy and public debt. The next section describes methodology of the time series, which is subsequently used in practical part of this thesis to analyse public debt of given states.
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The concept of "Schuldenbremse" as an instrument against indebtedness in the Federal Republic of Germany
Říhová, Dominika ; Mlsna, Petr (advisor) ; Kunštát, Miroslav (referee)
As a result of the rapidly rising debt in recent years, the Federal Republic of Germany has decided to stop this unfavourable trend. The approval and acceptance of the so-called debt brake (Schuldenbremse) into the Basic Law in 2009 was also supported by the fact that the amount of public debt significantly exceeded the defined limit by the convergence criteria. With the financial crisis and the associated debt crisis within the eurozone, it turned out that the rules set out in the Stability and Growth Pact are being handled by a few states, and therefore some states have, due to their irresponsible fiscal policy, faced serious problems which are characterized by the inability to repay their obligations. Consequently, austerity measures had to be taken and at the same time, other EU countries have been invited to adjust their public finances to contribute to the consolidation of Economic and Monetary Union. As a result, debt brakes or other measures were then embedded in national legislation to prevent further crises. The German debt brake is a set of seven constitutional laws, where the main assumption is the annual setting of balanced budgets, or balanced income and expenditure, both at federal and state level, in order to prevent new further indebtedness. It was stipulated that the state budget...
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