On the dynamics of sovereign debt in China: Sustainability and structural change

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Title
On the dynamics of sovereign debt in China: Sustainability and structural change
Author (s)
 Cuestas, Juan Carlos;
 Regis, Paulo José
Date
2018-01
Publisher
Elsevier
URI
http://hdl.handle.net/10234/205140
DOI
https://doi.org/10.1016/j.econmod.2017.08.003
ISSN
0264-9993; 1873-6122
Bibliographic citation
Cuestas, Juan Carlos and Regis, Paulo José (2018) On the dynamics of sovereign debt in China: sustainability and structural change. Economic Modelling, 68, 356-359. doi:10.1016/j.econmod.2017.08.003
Type
info:eu-repo/semantics/article
Publisher version
https://www.sciencedirect.com/science/article/pii/S0264999317306843
Version
info:eu-repo/semantics/acceptedVersion
Subject
Abstract
The dynamics of public debt are an important determinant of the macroeconomic environment of an economy and of the investment climate in the private sector. There have been concerns recently about the sustainability ... [+]
The dynamics of public debt are an important determinant of the macroeconomic environment of an economy and of the investment climate in the private sector. There have been concerns recently about the sustainability of debt in China, given the surge in the fiscal deficit in the last few years that has aided economic activity. This paper aims to shine some light on the dynamics of public debt in the Chinese economy given the risk of a debt crisis, taking nonlinearities and structural breaks into account. Our results show that caution needs to be exercised as there was a clear trend in 2014 towards an unsustainable path in the debt-to-GDP ratio. [-]
Is part of
Economic Modelling, 2018, vol. 68
Funder Name
Ministerio de Economía y Competitividad (España) | Generalitat Valenciana
Funder ID
http://dx.doi.org/10.13039/501100003329
Project code
MINECO/ICTI2013-2016/ECO2014-58991-C3-2-R | AICO/2016/038
Project title or grant
Desequilibrios macroenómicos, crecimiento y gobernanza en la Eurozona
Rights
Copyright © Elsevier B.V. All rights reserved.
info:eu-repo/semantics/openAccess
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