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| Author: | Lane, D. |
| Title: | Können Marktkräfte die öffentliche Vershuldung disziplinieren ? |
| Journal: | Finanzierung und Entwicklung
1993 : MAR, VOL. 30:1, p.26-29 |
| Index terms: | PUBLIC FINANCE INTEREST RATES DEBT FINANCIAL MARKETS |
| Language: | ger |
| Abstract: | Market discipline means, that financial markets can give signals that prevent countries from misusing the system by taking loans that they are not able to or willing to pay back. In practise though, the market discipline can be too weak, which makes it possible for countries to get loans that they have difficulties to pay back. Good examples of this are some governments that have created huge deficits in the last decades. This article analyses under which conditions can the market forces prevent the creation of unbearable loan burdens. A table showing public debt and interests rates in EC countries is included. |
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