Debt Sustainability after the Pandemic: a Rift between Advanced and Developing Economies?
| Authors |
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| Publication date | 01-2023 |
| Book title | Sustainability of Debt Management in the Post-Pandemic Era |
| Book subtitle | Proceedings of the 2nd Public Debt Management Conference, held in Rome on May 26-27, 2022 |
| ISBN (electronic) |
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| Event | 2nd Public Debt Management Network Conference |
| Article number | 5 |
| Pages (from-to) | 23-43 |
| Publisher | Rome: Ministero dell’Economia e delle Finanze |
| Organisations |
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| Abstract |
The aftermath of the Covid-19 health crisis poses major fiscal challenges to many countries, both advanced and developing. A key issue facing policymakers is the amount of available fiscal space given the recent surge in public debt. Exceptional shocks like the pandemic can push countries beyond their debt sustainability limit, inevitably constraining countries’ fiscal space. Against this backdrop this paper estimates the development of public debt limits and ensuing fiscal space for a panel of G20 economies - developed and developing - since the 1990s. This analysis suggests that advanced and developing economies face entirely different conditions for the conduct of independent fiscal policies to address major shocks, with the former generally much better placed.
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| Document type | Conference contribution |
| Language | English |
| Published at | https://www.mef.gov.it/en/ufficio-stampa/comunicati/2022/Sustainability-of-debt-management-in-the-post-pandemic-era-The-Italian-Treasury-hosts-the-2nd-international-conference-of-the-Public-Debt-Management-Network-00001/ |
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Debt Sustainability after the Pandemic - a Rift between Advanced and Developing Economies
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