This paper aims at pointing out the factors that have led to the accumulation of public debt in the countries currently considered as developed. It first analyzes the dynamics of public debt in industrialized countries, putting into light that its level has always been high. Establishing that a...

This paper tries to analyse the relations existing between the different ways of financing budget deficit and inflation, underlining the terms of these relations and the involved social and economic effects. An important source of inflation is considered to be the financing of budget deficits by...

The recent European sovereign debt crisis proved public debt issues should not be easily approached. While, prior to the crisis, public debt was of little concern in most of the developed European countries, as there had been no recent episodes of sovereign default, the crisis revived longtime...

Financing local activities at an appropriate level by reference to local communities’ development needs cannot be left, especially where these needs are major, solely to the account of ordinary resources, but loan resources must complete them. However, the existence of a legal framework...

The aim of this paper is to offer a possible answer to the question why developed countries have rarely encounted problems concerning their sovereign debt. With this end in view, it analyzes the particularities of public indebtness in industrialized countries (especially the OECD member states)...