The objective of this paper is to assess whether non-residents’ holdings of a country’s debt make a difference for debt stabilization, where non-residents’ holdings are considered external debt according to a Balance of Payments perspective. The analysis is empirical and considers the case...

The objective of this paper is to gain insights into the relationship between deficit-reducing policies and the evolution of the debt/GDP ratio. We consider past events of fiscal consolidation in a selected group of EU countries and check what is the associated change of the debt/GDP ratio both...

Faute d'avoir reagi a temps aux chocs externes subis au milieu des annees soixante-dix, la Turquie s'est trouvee precipitee en 1977 dans une grave crise des paiements. Apres deux annees de vaines tentatives de redressement, elle s'est engagee en 1980 dans un programme de reformes en profondeur....