LA EMISIÓN DE DEUDA PÚBLICA EN LA ERA DE LA ESTABILIDAD PRESUPUESTARIA
Fecha
2019-05
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Jaén: Universidad de Jaén
Resumen
[ES] Nuestro trabajo de investigación, abarcará el fenómeno jurídico-económico de la deuda pública, desde diferentes perspectivas de análisis. Para, finalmente, llegar objetivo central del mismo, que es la emisión de la deuda a través de los títulos de deuda soberana. Nuestra primera pretensión es precisamente la de demostrar la necesidad de existencia de este recurso público para cubrir el desequilibrio o diferencia negativa entre los ingresos que percibe el estado y los gastos presupuestados. Un equilibrio alcanzado por el conocido déficit presupuestario público.
Una vez aceptada la necesidad – y los efectos—del endeudamiento, continuamos abordando aspectos relacionados con la emisión de deuda pública. Desde su expresión constitucional y su reserva de Ley que garantiza sus condiciones de emisión y amortización así como el coste de la misma. Para finalizar analizamos el papel y peso que juegan el sistema financiero en España en los mecanismos de colocación de la deuda publica en el mercado primario o de emisión
[EN] Our research work will cover the legal-economic phenomenon of public debt, from different perspectives of analysis. To finally reach the central objective of it, which is the issuance of debt through sovereign debt securities. Our first pretension is precisely to demonstrate the need for existence of this public resource to cover the imbalance or negative difference between the income received by the state and the budgeted expenses. A balance reached by the well-known public budget deficit. Once the need - and the effects - of the debt have been accepted, we continue to address aspects related to the issuance of public debt. From its constitutional expression and its legal reserve that guarantees its issuance and amortization conditions as well as the cost thereof. Finally, we analyze the role and weight played by the financial system in Spain in the placement mechanisms of public debt in the primary or issuance market.
[EN] Our research work will cover the legal-economic phenomenon of public debt, from different perspectives of analysis. To finally reach the central objective of it, which is the issuance of debt through sovereign debt securities. Our first pretension is precisely to demonstrate the need for existence of this public resource to cover the imbalance or negative difference between the income received by the state and the budgeted expenses. A balance reached by the well-known public budget deficit. Once the need - and the effects - of the debt have been accepted, we continue to address aspects related to the issuance of public debt. From its constitutional expression and its legal reserve that guarantees its issuance and amortization conditions as well as the cost thereof. Finally, we analyze the role and weight played by the financial system in Spain in the placement mechanisms of public debt in the primary or issuance market.