Event Title

Impact of the Covid-19 Pandemic on Public Debt and Economic Growth in the Western Balkans Countries

Session

Management, Business and Economics

Description

The main aim of this study is to empirically assess the impact of the Covid-19 pandemic through public debt on economic growth in the Western Balkan countries. This empirical analysis includes the countries of the Western Balkans such as: Albania, Kosovo, Macedonia, Montenegro, Serbia, and Bosnia. More specifically, this paper will examine and analyze the effect of anti-covid measures, and their impact on public debt and economic growth. The analysis period will include data from 1995 to 2020, and the source of data will be the World Bank, the International Monetary Fund, and Eurostat. To prove the hypotheses we will use various econometric methods and models, such as: OLS, Fixed Effects and Random Effects, Hausman-Taylor, and GMM method. The findings show that the global Covid-19 pandemic has caused economic crisis in both developed and developing countries, and as a result the countries of the Western Balkans from 2020 have rapidly increased the level of public debt compared to other years. Moreover, the results show a negative link between pandemic and public debt, because some of these countries had high levels of public debt before the pandemic period. Unbalanced growth of public debt as a result of the pandemic in the long run can negatively effect on economic growth. The results and findings of this study provide very important data in the field of public debt and economic growth for the governments of the Balkan Western countries.

Keywords:

Covid-19, Economic Growth, Public Debt, Western Balkan Countries.

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-550-47-5

Location

UBT Kampus, Lipjan

Start Date

30-10-2021 12:00 AM

End Date

30-10-2021 12:00 AM

DOI

10.33107/ubt-ic.2021.492

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Oct 30th, 12:00 AM Oct 30th, 12:00 AM

Impact of the Covid-19 Pandemic on Public Debt and Economic Growth in the Western Balkans Countries

UBT Kampus, Lipjan

The main aim of this study is to empirically assess the impact of the Covid-19 pandemic through public debt on economic growth in the Western Balkan countries. This empirical analysis includes the countries of the Western Balkans such as: Albania, Kosovo, Macedonia, Montenegro, Serbia, and Bosnia. More specifically, this paper will examine and analyze the effect of anti-covid measures, and their impact on public debt and economic growth. The analysis period will include data from 1995 to 2020, and the source of data will be the World Bank, the International Monetary Fund, and Eurostat. To prove the hypotheses we will use various econometric methods and models, such as: OLS, Fixed Effects and Random Effects, Hausman-Taylor, and GMM method. The findings show that the global Covid-19 pandemic has caused economic crisis in both developed and developing countries, and as a result the countries of the Western Balkans from 2020 have rapidly increased the level of public debt compared to other years. Moreover, the results show a negative link between pandemic and public debt, because some of these countries had high levels of public debt before the pandemic period. Unbalanced growth of public debt as a result of the pandemic in the long run can negatively effect on economic growth. The results and findings of this study provide very important data in the field of public debt and economic growth for the governments of the Balkan Western countries.