Wiarygodność kredytowa państw w obliczu kryzysu finansów publicznych
The reliability of the states in the face of public finance crisis

Summary/Abstract: This paper shows that the current financial and economic crisis has a significant impact on the public finance system. An increase in public expenditure is a reason for the public debt, which often exceeds 100% of GDP. It has contributed to undermining the market confidence in the ability to service the debts. A public debt and high budgetary deficit increase economic uncertainty and generate a high cost of debt service. The paper presents the relationship between government bond yields and credit rating.

• Details
• Contents