The evolution of the public debt in Romania and Serbia, during and after the global recession

Abstract

This paper describes a special evolution of debt of Romania and Serbia, during and after the recently completed global recession, with a focus on public debt. After a brief theoretical introduction and an equally short review of the recent literature devoted to the subject, the authors stress both the common elements and the particular aspects of the upward trends of borrowing in the two economies, concluding with some final remarks and a tentative anticipation of short-term and medium-term evolution.