THE IMPACT OF ECONOMIC, POLITICAL, AND INSTITUTIONAL FACTORS ON BUDGET BALANCES OF THE HEAVILY INDEBTED EUROPEAN COUNTRIES
The present study identifies socioeconomic, political, and institutional factors that shape extensive budget unbalances in four European Mediterranean countries (Portugal, Italy, Greece, and Spain), causing significant deficits and a public debt equal to (or above) 120% of their respective Gross Domestic Engine Mounts Product at the end of 2020.The