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| Titel: |
Government Debt and the Long-Term Interest Rate: Application of an Extended Open-Economy Loanable Funds Model to Poland |
| Auteur: |
Yu Hsing |
| Verschenen in: |
Managing global transitions |
| Paginering: | Jaargang 8 (2010) nr. 3 pagina's 227-237 |
| Jaar: |
2010 |
| Inhoud: |
This paper examines the behavior of the long-term interest rate inPoland based on a sample during 2001.Q1–2009.Q1. Both the demandfor and supply of loanable funds are considered. Extending the openeconomyloanable funds model, this paper finds thatmore governmentdebt as a percent of GDP leads to a higher long-term interest rate inPoland and that a higher real Treasury bill rate, more percent change inreal GDP, a higher expected inflation rate, a higher world long-term interestrate, and depreciation of the zloty would increase the long-terminterest rate in Poland. In the standard open-economy loanable fundsmodel including the net capital inflow, the coefficient of the net capitalinflow is positive and insignificant at the 10%level. Hence, the incorporationof the world interest rate and the nominal effective exchange ratein the model may better capture the behavior of the long-term interestrate in Poland. |
| Uitgever: |
University of Primorska (provided by DOAJ) |
| Bronbestand: |
Elektronische Wetenschappelijke Tijdschriften |
Details van artikel 9 van 25 gevonden artikelen
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