Análisis de la dinámica y sostenibilidad de la deuda pública en Amércia Latina

This research develops the sustainability analysis of the public debt of Latin American countries, based on historical information available on the accounting basis of the accumulation of debt derived from the government's intertemporal budget constraint, for the period 2000-2017. There are two specific objectives: first, to analyze the dynamics of public debt that is expressed from the primary balance, the payment of interest, the growth rate, and an adjustment variable. Second, to analyze the sustainability of the debt of these countries. The results suggest that the selected countries have resorted to the indebtedness policy to finance public expenditures on a permanent basis. In addition, they have maintained a period of eight years of sustainability because of the macroeconomic results that became favorable by the prices of raw materials. However, they still need to work on improving their medium-term fiscal policies. This term can allow them to face fiscal volatility and internal or external shocks so that their public finances have the capacity to face events of economic contraction.

• 主要作者: Merchán Quito, Gabriela Margarita (author)
• 其他作者: Atienza Montero, Pedro (author)
• 格式: article
• 语言: spa
• 出版: 2020
• 主题: public debt, sustainability, fiscal policy.; deuda pública, sostenibilidad, política fiscal.
• 在线阅读: https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/264