Impact of Macroeconomic Indicators on Public Debt of Slovak Republic

Knapková, Miroslava; Kiaba, Martin; Hudec, Samuel

doi:10.3846/jbem.2019.10184

Cited by 11 publications

(15 citation statements)

References 39 publications

(55 reference statements)

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Mirosolva Kapkova et al, 2019) menunjukkan ukuran sektor publik menjadi indikator ekonomi makro. Penelitian Shawer, Munir dan menunjukkan harga saham perusahaan petrokimia yang terdaftar di Bursa Efek tidak mencerminkan kinerja laba.…”

unclassified

Dampak Covid-19 Terhadap Harga Saham dan Kinerja Keuangan Perusahaan

Rahmani

2020

View full text Add to dashboard Cite

The purpose of this study to determine the impact of Covid-19 on stock prices and financial performance of companies on LQ-45 issuers listed on the IDX. This study examines the impact of Covid-19 on stock prices and financial performance before being exposed to Covid-19 for Q3 2019 and after being exposed to Covid-19 for Q1 2020. Stock prices are measured using closing stock prices and financial performance is measured using a ratio formula that is Return on Assets (ROA), Operating Profit Margin (OPM), and Net Profit Margin (NPM). This study uses a sample of LQ-45 companies that have published their financial statements on the Indonesia Stock Exchange (IDX). This research uses multiple linear regression methods using SPSS 25. The results of this study indicate that (a) Pandemic Covid-19 has an impact on stock prices and (b) Pandemic Covid-19 has an impact on financial performance.

show abstract

unclassified

Dampak Covid-19 Terhadap Harga Saham dan Kinerja Keuangan Perusahaan

Rahmani

2020

View full text Add to dashboard Cite

show abstract

“…While there is no universal threshold from which the negative impact of government debt is evident, studies such as Knapkova et al (2019); Belguith & Omrane (2019) proclaimed that the threshold varies in different countries. On the other side, Pescatori et al (2014) argued that there is no evidence of a particular debt threshold that would divide the amount of public debt into d exert a positive or negative impact on investment growth.…”

Section: Statement Of the Problemmentioning

confidence: 99%

“…However, they instead anticipate a future tax increase which reduces their consumption and could negatively impact the macroeconomic environment. Furthermore, there is no longer any need to prove the nexus between savings and investments as a high debt level with possible increases in tax rates can erode savings which in turn will negatively affect economic growth by causing a paucity of investible funds, hike in interest rates, increase in inflation due to low output and exchange rate depreciation arising from the decline in the purchasing power of money in the indebted country (Knapkova et al, 2019;Dawood et al, 2017). The theory of over-indebtedness assumes, as mentioned above, that there must be a maximum threshold beyond which any increase in public debt would cause a negative influence on the macroeconomic space.…”

Section: Literature Review Theoretical Exposition: Over Indebtednessmentioning

confidence: 99%

Government Debt Sustainability and Investments in Nigeria: Trends and Risk Thresholds amidst Macroeconomic Swings

Onyele

Ikwuagwu

Opara

2023

PJGD

View full text Add to dashboard Cite

The core idea behind government debt is to fund fiscal deficit, which is anticipated to drive economic investments. To a larger extent, this is not the case, as evidenced in the Nigerian context, where debt has risen so high with investment levels declining, thus questioning the government's ability to manage and sustain its debt to pursue vital investment needs. This study aimed to investigate the threshold effect of debt sustainability on investments amidst macroeconomic swings from 1981 to 2020. In this regard, the threshold autoregressive regression (TAR) was used because it gave information on the optimal threshold of debt sustainability that would attract investments. Also, the Granger causality test was carried out to show the direction of causality among the variables. This paper concentrated on debt service to revenue and total debt stock to GDP as debt sustainability measures while investment was decomposed into public, private, and foreign investments. The paper yields that, based on the multivariate TAR analyses, the main threshold variables, that is, debt service to revenue and total debt stock to GDP, had a non-linear relationship with public, private, and foreign direct investments amidst changes in macroeconomic variables such as exchange rate, inflation, and monetary policy rate. The threshold coefficient of debt service to revenue indicated that public and foreign direct investments declined during low thresholds while private investment increased. However, the opposite prevailed when debt service to revenue exceeded the threshold values. However, the Granger causality test showed that debt service to revenue Granger caused total debt stock to GDP and exchange rate Granger caused debt service to revenue ratio, implying that exchange rate swings could affect the government's ability to service debt which in turn explains the non-linear relationship between debt sustainability and investments. Hence, it was concluded that Nigeria's lack of debt sustainability was associated with revenue generation, which explains why the models did not follow a linear path.

show abstract

“…Appendix (Table A.2) furnishes data about scheduled announcements of macroeconomic indicators of the US economy. Moreover, the reports of earnings of wages and salary, business employment dynamics, and employment cost index (e.g., Knapkova et al, 2019) (see Table 1).…”

Section: Data Description and Descriptive Statisticsmentioning

confidence: 99%

Does Policy Uncertainty Affect Equity, Commodity, Interest Rates, and Currency Markets? Evidence From Cboe’s Volatility Index

Shaikh

2020

Journal of Business Economics and Management

View full text Add to dashboard Cite

Economic policy drives investment, production, employment, and other macroeconomic indicators of the economy. The study examines the equity, commodity, interest rates, and currency markets, taking into consideration the US economic policy uncertainty (EPU) index. The present work determines the association among policy uncertainty and volatility index, expressed in terms of generalized autoregressive conditional heteroscedasticity and period of empirical work spanning from 2000 to 2018. The results suggest that equity markets’ volatility tends to be very high based on a high degree of policy uncertainty. The findings on the commodity market indicate that crude oil and gold prices remain more volatile during the presidential election and financial crisis. One of the essential results shows that the 2000s boom, early credit crunch, Lehman’s collapse and recession, and fiscal policy battles have significantly affected the equity, currency, and commodity markets. The interest rates and currency markets have responded considerably to Feds’ and EPU index. The empirical outcome provides evidence that implied volatility index is a forward looking expectation of future stock market volatility, and it uncovers that policy uncertainty affects investor sentiment. The present work holds some practical implications for the government to formulate policies to regulate the US market.

show abstract

Impact of Macroeconomic Indicators on Public Debt of Slovak Republic

Cited by 11 publications

References 39 publications

Dampak Covid-19 Terhadap Harga Saham dan Kinerja Keuangan Perusahaan

Dampak Covid-19 Terhadap Harga Saham dan Kinerja Keuangan Perusahaan

Government Debt Sustainability and Investments in Nigeria: Trends and Risk Thresholds amidst Macroeconomic Swings

Does Policy Uncertainty Affect Equity, Commodity, Interest Rates, and Currency Markets? Evidence From Cboe’s Volatility Index

Contact Info

Product

Resources

About