Sustainable Debt Policies of Indian State Governments

P.S. Renjith; K.R. Shanmugam

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Sustainable Debt Policies of Indian State Governments

机译：印度州政府的可持续债务政策

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This study analyses the public debt sustainability issue of 20 major Indian states using the Bohn framework for panel data from 2005–2006 to 2014–2015. It employs regular panel data estimation procedures and the penalized spline (p-spline) technique. The results indicate that the primary balance of state governments responds positively to high public debt, so debt policies are successful in sustaining the debt situation of Indian states as a whole. However, at the individual level, debt is sustainable only in 12 states; in 8 states, debt is unsustainable and so these states require corrective action. These findings may be useful to policymakers and other stakeholders to formulate appropriate strategies to improve the debt situation of Indian states.n JEL Classification: E62, H63, H72, H740.

机译：这项研究使用Bohn框架分析了2005-2006年至2014-2015年的20个主要印度邦的公共债务可持续性问题。它采用常规面板数据估计程序和惩罚样条（p-spline）技术。结果表明，州政府的基本收支平衡对高公共债务做出了积极反应，因此债务政策成功地维持了整个印度邦的债务状况。但是，就个人而言，债务仅在12个州是可持续的。在8个州中，债务是不可持续的，因此这些州需要采取纠正措施。这些发现可能对决策者和其他利益相关者制定适当的战略以改善印度各州的债务状况很有帮助。nJEL分类：E62，H63，H72，H740。

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来源
《Margin: The Journal of Applied Economic Research》 |2018年第2期|224-243|共20页
作者
P.S. Renjith; K.R. Shanmugam;
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作者单位

P.S. Renjith (corresponding author) is ICSSR Research Fellow, Madras School of Economics, Chennai, Tamil Nadu, India, e-mail:;

K.R. Shanmugam is Director, Madras School of Economics, Chennai, Tamil Nadu, India, e-mail:;

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正文语种 eng
中图分类
关键词
Primary Balance; Sustainable Debt; Indian States; Bohn Framework;

机译：基本平衡;可持续债务;印度国家;博恩框架;

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Sustainable Debt Policies of Indian State Governments

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