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Stress Tests as a Tool to Assess the Risk of Public Expenditure on Debt Servicing Increasing at Local Government Entities

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cris.lastimport.scopus2024-02-12T20:52:21Z
dc.abstract.enNational and local government's public debt is of special interest to economic sciences. With interest rates in the EU countries now at historically low levels, there is risk of a trend change causing development expenditure to be crowded out from budgets in favour of debt servicing costs. The analysis (stress test) of the sensitivity of debt servicing costs in the local government sector in Poland to an unexpected growth of market interest rates above the values forecasted by the MoF confirms that local governments are exposed to interest rate growth risk, and consequently to the risk of their budgets incurring unplanned expenditure.
dc.affiliationUniwersytet Warszawski
dc.contributor.authorCzekaj, Mirosław
dc.contributor.authorPostuła, Marta
dc.contributor.authorKlepacki, Jarosław
dc.date.accessioned2024-01-26T08:20:36Z
dc.date.available2024-01-26T08:20:36Z
dc.date.issued2019
dc.description.financeNie dotyczy
dc.description.number2
dc.description.volume17
dc.identifier.doi10.4335/17.2.205-224(2019)
dc.identifier.issn1581-5374
dc.identifier.urihttps://repozytorium.uw.edu.pl//handle/item/120836
dc.languageeng
dc.pbn.affiliationmanagement and quality studies
dc.relation.ispartofLex Localis
dc.relation.pages205-224
dc.rightsClosedAccess
dc.sciencecloudnosend
dc.subject.ensub-central government debt servicing costs interest rate risk
dc.titleStress Tests as a Tool to Assess the Risk of Public Expenditure on Debt Servicing Increasing at Local Government Entities
dc.typeJournalArticle
dspace.entity.typePublication