Suchergebnisse

The study is aimed at analyzing methods of country's debt security evaluation, developing methodic approach towards estimating the level of debt security based on the calculation of the integral index, and assessing the level of debt security of CEE countries on the basis of the proposed approach. A method of calculating the integral debt security index of the country is developed, taking into account generally accepted thresholds of indebtedness and solvency indicators and the trend of countries' increasing dependence on external borrowing.
The proposed approach is practically tested in assessing the level of debt security of CEE countries. It is determined that the group of CEE countries is differentiated by the state of indebtedness and solvency. The highest level of debt security is demonstrated by Bulgaria, the Czech Republic and Estonia, the worst situation with the debt security is formed in Slovakia and Slovenia. Based on the analysis of the dynamics of integral debt security indices for 2007–2019, the grouping of CEE countries by the level and zones of debt security, the trends of deterioration of the region's debt security in 2010–2015 and its improvement in 2016–2019 has been found out. The proposed approach is universal one; it can be used to calculate debt security indices and to provide comparative studies of the debt sector of any country or region. It can also help to identify weaknesses in country's debt security that is critically important for reasoning the public policy measures to ensure a proper level of debt security.

The study aims to identify the debt security weaknesses in the CEE countries and determine challenges and threats to the debt security of national economies and the CEE region. To achieve this goal, general and specific research methods have been used, including historical and logical methods, analysis and synthesis, structural and functional analysis, generalization and abstraction, a systematic approach, classification, and statistical methods.
It is found out that the situation with debt security in the CEE region is quite controversial. The average external debt indicators of the CEE countries are in the unsafe zone, while the average solvency is at a relatively safe level. The analysis of external indebtedness and solvency indicators shows that the CEE group is highly heterogeneous regarding the level of countries' debt security.
Despite some improvement in the debt security of CEE economies during 2017–2019, the prospects for the development of the debt situation are rather vague. It is due to the growing impact of external challenges and threats to the debt security of the region, including the deterioration of the global economic environment and global recession, increase in credit risks and contraction in the international lending, global economic and political imbalances, and policy divergence, growing government spending on solving problems caused by the COVID-19 and corresponding pressure on public budgets, the general growth of global debt. Given the high heterogeneity of CEE countries in terms of current debt security, the manifestation of global challenges in each national economy can be rather diverse.

The study aims to identify the debt security weaknesses in the CEE countries and determine challenges and threats to the debt security of national economies and the CEE region. To achieve this goal, general and specific research methods have been used, including historical and logical methods, analysis and synthesis, structural and functional analysis, generalization and abstraction, a systematic approach, classification, and statistical methods. It is found out that the situation with debt security in the CEE region is quite controversial. The average external debt indicators of the CEE countries are in the unsafe zone, while the average solvency is at a relatively safe level. The analysis of external indebtedness and solvency indicators shows that the CEE group is highly heterogeneous regarding the level of countries' debt security. Despite some improvement in the debt security of CEE economies during 2017–2019, the prospects for the development of the debt situation are rather vague. It is due to the growing impact of external challenges and threats to the debt security of the region, including the deterioration of the global economic environment and global recession, increase in credit risks and contraction in the international lending, global economic and political imbalances, and policy divergence, growing government spending on solving problems caused by the COVID-19 and corresponding pressure on public budgets, the general growth of global debt. Given the high heterogeneity of CEE countries in terms of current debt security, the manifestation of global challenges in each national economy can be rather diverse. ; Celem badania jest identyfikacja słabości bezpieczeństwa długu w krajach Europy Środkowo-Wschodniej oraz określenie wyzwań i zagrożeń dla bezpieczeństwa długu gospodarek narodowych i regionu. Aby osiągnąć ten cel, zastosowano ogólne i szczegółowe metody badawcze, w tym metody historyczne i logiczne, analizę i syntezę, analizę strukturalną i funkcjonalną, uogólnienie i abstrakcję, podejście systematyczne, klasyfikację i metody statystyczne. Okazuje się, że sytuacja z papierami dłużnymi w regionie jest dość kontrowersyjna. Średnie wskaźniki zadłużenia zewnętrznego państw Europy Środkowo-Wschodniej znajdują się w strefie niebezpiecznej, natomiast średnia wypłacalność jest na stosunkowo bezpiecznym poziomie. Analiza wskaźników zadłużenia zewnętrznego i wypłacalności pokazuje, że grupa państw Europy Środkowo-Wschodniej jest bardzo zróżnicowana pod względem poziomu bezpieczeństwa zadłużenia krajów.

The study aims to identify the debt security weaknesses in the CEE countries and determine challenges and threats to the debt security of national economies and the CEE region. To achieve this goal, general and specific research methods have been used, including historical and logical methods, analysis and synthesis, structural and functional analysis, generalization and abstraction, a systematic approach, classification, and statistical methods. It is found out that the situation with debt security in the CEE region is quite controversial. The average external debt indicators of the CEE countries are in the unsafe zone, while the average solvency is at a relatively safe level. The analysis of external indebtedness and solvency indicators shows that the CEE group is highly heterogeneous regarding the level of countries' debt security. Despite some improvement in the debt security of CEE economies during 2017–2019, the prospects for the development of the debt situation are rather vague. It is due to the growing impact of external challenges and threats to the debt security of the region, including the deterioration of the global economic environment and global recession, increase in credit risks and contraction in the international lending, global economic and political imbalances, and policy divergence, growing government spending on solving problems caused by the COVID-19 and corresponding pressure on public budgets, the general growth of global debt. Given the high heterogeneity of CEE countries in terms of current debt security, the manifestation of global challenges in each national economy can be rather diverse. ; Celem badania jest identyfikacja słabości bezpieczeństwa długu w krajach Europy Środkowo-Wschodniej oraz określenie wyzwań i zagrożeń dla bezpieczeństwa długu gospodarek narodowych i regionu. Aby osiągnąć ten cel, zastosowano ogólne i szczegółowe metody badawcze, w tym metody historyczne i logiczne, analizę i syntezę, analizę strukturalną i funkcjonalną, uogólnienie i abstrakcję, podejście systematyczne, klasyfikację i metody statystyczne. Okazuje się, że sytuacja z papierami dłużnymi w regionie jest dość kontrowersyjna. Średnie wskaźniki zadłużenia zewnętrznego państw Europy Środkowo-Wschodniej znajdują się w strefie niebezpiecznej, natomiast średnia wypłacalność jest na stosunkowo bezpiecznym poziomie. Analiza wskaźników zadłużenia zewnętrznego i wypłacalności pokazuje, że grupa państw Europy Środkowo-Wschodniej jest bardzo zróżnicowana pod względem poziomu bezpieczeństwa zadłużenia krajów. ; 2 ; 135 ; 152 ; Środkowoeuropejskie Studia Polityczne