FACTORS GENERATING PUBLIC INDEBTEDNESS IN DEVELOPED ECONOMIES
FACTORS GENERATING PUBLIC INDEBTEDNESS IN DEVELOPED ECONOMIES

Summary/Abstract: This paper aims at pointing out the factors that have led to the accumulation of public debt in the countries currently considered as developed. It first analyzes the dynamics of public debt in industrialized countries, putting into light that its level has always been high. Establishing that a direct correlation exists between the evolution of the budget balance and public debt, it afterwards emphasizes the causes of budget deficits and, implicitly, of public debt by minutely analyzing the particularities concerning the level and structure of budget revenues and expenditures in developed countries.

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