Determinanty zróżnicowania zmian wskaźnika długu publicznego w krajach UE 15 w latach 2000-2014
Determinants of the diversification of changes in public debt ratios in the EU-15 countries in the years 2000-2014

Summary/Abstract: The aim of the article is to identify the determinants of changes in public debt ratios in the developed countries of the EU (EU-15). The analysis was based on the observations of the average values of analysed variables in particular countries throughout the study period and over two sub-periods: 2001-2007 and 2008-2014. On the basis of the article it can be concluded that the diversification of changes in public debt ratios resulted mainly from varying budget and primary balances (the lower the deficits; the lower the increases in public debt ratios) and; to a smaller extent; also from varying interest rates on bonds (the lower the interest rates; the lower the increases in public debt ratios) as well as varying economic growth rates (the higher the economic growth rates; the lower the rises in public debt ratios).

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