About: Importance of fiscal discipline for sovereign risk spread

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
Description	The price of government bonds reflects market confidence in governments' commitment towards sustainable fiscal policies. The aim of the paper is to examine the importance of fiscal discipline for sovereign risk spread in the European Union member states in a period 1990-2011 and verify if stronger fiscal discipline reduces sovereign risk premium. The empirical estimation is performed for 24 EU member states, we apply estimation on three different panels (EU24, EURO, nonEURO). Next variables are used for testing the impact on sovereign risk spread: German Bunds' interest, budget balance to GDP, debt to GDP, GDP growth, the fiscal rules index and inflation. Granger pairwise tests and cross correlation are applied as basic methods of research. The analysis identified the biggest importance of budget balance for sovereign yield spread in all panels, the importance of other variables varies in individual panels. The price of government bonds reflects market confidence in governments' commitment towards sustainable fiscal policies. The aim of the paper is to examine the importance of fiscal discipline for sovereign risk spread in the European Union member states in a period 1990-2011 and verify if stronger fiscal discipline reduces sovereign risk premium. The empirical estimation is performed for 24 EU member states, we apply estimation on three different panels (EU24, EURO, nonEURO). Next variables are used for testing the impact on sovereign risk spread: German Bunds' interest, budget balance to GDP, debt to GDP, GDP growth, the fiscal rules index and inflation. Granger pairwise tests and cross correlation are applied as basic methods of research. The analysis identified the biggest importance of budget balance for sovereign yield spread in all panels, the importance of other variables varies in individual panels. (en)
Title	Importance of fiscal discipline for sovereign risk spread Importance of fiscal discipline for sovereign risk spread (en)
skos:prefLabel	Importance of fiscal discipline for sovereign risk spread Importance of fiscal discipline for sovereign risk spread (en)
skos:notation	RIV/47813059:19520/14:#0002733!RIV15-MSM-19520___
http://linked.open...avai/riv/aktivita	I
http://linked.open...avai/riv/aktivity	I
http://linked.open...vai/riv/dodaniDat	2015
http://linked.open...aciTvurceVysledku	Szarowská, Irena
http://linked.open.../riv/druhVysledku	D - Článek ve sborníku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Slezská univerzita v Opavě / Obchodně podnikatelská fakulta v Karviné
http://linked.open...dnocenehoVysledku	20914
http://linked.open...ai/riv/idVysledku	RIV/47813059:19520/14:#0002733
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	debt; budget deficit; sovereign risk spreads; fiscal discipline (en)
http://linked.open.../riv/klicoveSlovo	debt budget deficit sovereign risk spreads fiscal discipline
http://linked.open...ontrolniKodProRIV	[B599934DD490]
http://linked.open...v/mistoKonaniAkce	Alexandru Ioan Cuza University of Iaşi
http://linked.open...i/riv/mistoVydani	Iasi
http://linked.open...i/riv/nazevZdroje	Monetary, banking and financial issues in Central and Eastern EU member countries: How can Central and Eastern EU members overcome the current economic crisis?
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	1 (xsd:int)
http://linked.open...cetTvurcuVysledku	1 (xsd:int)
http://linked.open...UplatneniVysledku	2014
http://linked.open...iv/tvurceVysledku	SZAROWSKÁ, Irena
http://linked.open...vavai/riv/typAkce	EUR - Evropská
http://linked.open...ain/vavai/riv/wos	000346751900057
http://linked.open.../riv/zahajeniAkce	2014-04-10 (xsd:date)
number of pages	9 (xsd:int)
http://purl.org/ne...btex#hasPublisher	EDITURA UNIV ALEXANDRU IOAN CUZA IASI
https://schema.org/isbn	978-606-714-020-0
http://localhost/t...ganizacniJednotka	19520

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