Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/109917
Authors: 
Izák, Vratilav
Year of Publication: 
2014
Citation: 
[Journal:] European Financial and Accounting Journal [ISSN:] 1805-4846 [Volume:] 9 [Year:] 2014 [Issue:] 1 [Pages:] 4-21
Abstract: 
In the paper we provide some empirical evidence of the development of private debt to GDP ratio in the sample of 18 EU Member States. We use detailed national accounts published regularly by the OECD-financial assets and liabilities by institutional sectors (flow of funds). The ratio of private to public debt culminated mainly in the year 2007 and since 2008 this ratio has the tendency to decline. Spillovers across private and public debt have revealed mainly a mutual dependency. Cross-country differences have been discovered in both household´s and non-financial corporation´s debt.
Subjects: 
Private debt
Public debt
Flow of funds
JEL: 
D9
E6
H3
Persistent Identifier of the first edition: 
Document Type: 
Article

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