2016 | 16 | 1(37) | 115-129
Article title

Government debt influence on EU countries economic growth: importance of matching Maastricht criterion

Title variants
Wpływ długu publicznego na wzrost gospodarczy krajów UE: znaczenie spełnienia kryteriów z Maastricht
Languages of publication
The paper aims to analyse the impact of government debt on the country’s economic growth. Beginning of the economic crisis in 2007 and rapid growth of government debt has attracted interest in this topic. Government debt-to-GDP ratio in the EU has increased from 58.7 to 86.8 percent from 2007 till 2014 and opened a vast field for discussions – how economic growth is affected by this situation? Using panel data approaches, we find evidence that in short-run increasing government debt has uniform negative impact on economic growth in all EU Member States but in the long-run negative impact is only in those that do not match Maastricht criterion.
Artykuł ma na celu przeanalizowanie wpływu długu publicznego na wzrost gospodarczy danego kraju. Zainteresowanie tym tematem wzrosło znacząco po rozpoczęciu kryzysu ekonomicznego w 2007 oraz związanym z tym gwałtownym podniesieniem poziomu zadłużenia rządów. W okresie od 2007 do 2014 roku wskaźnik długu publicznego do PKB w Unii Europejskiej wzrósł z 58,7 do 86,8%, co otworzyło szerokie pole do dyskusji – czy ta sytuacja oddziałuje na wzrost gospodarczy? Wykorzystując podejście oparte na danych panelowych, autorzy artykułu znaleźli dowód na to, że w krótkim okresie rosnący dług publiczny ma stały negatywny wpływ na wzrost gospodarczy we wszystkich krajach członkowskich Unii Europejskiej, natomiast w długim okresie negatywny wpływ występuje tylko w tych krajach, które nie spełniają kryteriów z Maastricht.
Physical description
  • Vytautas Magnus University, Lithuania
  • Šiauliai University, Lithuania
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Publication order reference
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