英语翻译It is remarkable to see that Romania has also begun to demonstrate the correlation between election cycles and the accumulation of public debt.We can observe on the presented graphs the jumps occurred in the electoral years,in 1992 and in

英语翻译It is remarkable to see that Romania has also begun to demonstrate the correlation between election cycles and the accumulation of public debt.We can observe on the presented graphs the jumps occurred in the electoral years,in 1992 and in
英语翻译
It is remarkable to see that Romania has also begun to demonstrate the
correlation between election cycles and the accumulation of public debt.We can
observe on the presented graphs the jumps occurred in the electoral years,in 1992
and in 1996 respectively,followed by calm dept accumulation dynamics between the
two elections moments.In the literature,there is a serious focus on evaluating the
impact of the political environment’s dynamics on the public debt accumulation.
Some authors even sought to quantify this impact (Roubini and Sachs,1989).One of
the most important conclusions of such studies is that there is a direct correlation
between the degree of homogeneity of the power coalitions and the dynamics of the
public sector deficits.As a proven rule,when the leading political coalition has a
large number of parties with various political orientations,as it was the situation in
Romania between 1996 and 2000,then the budget policy loses its coherence and the
deficits will increase.On the contrary,in countries where the political power is in the
hands of a single strong party,the chance to apply an efficient management of public
debt is greater.
The evolution of the gap between the share of debt in GDP evaluated in
dollars and that expressed in Lei,shown on the graph in Fig.3,reflects the impact of
domestic currency depreciation (the value of external debt being converted by
Lei/USD exchange rate at the end of each year).Moreover,the evolution during the
1990-1998 period in Romania demonstrates a strong reverse correlation between the
change of the rate of the real GDP and the dynamics of the mentioned gap (see Fig.
4).
Another important aspect of the analyses regarding the evolution of public
debt is represented by the distinction among the main institutional sectors.In
Romania,as we have already mentioned,beside the conventional public debt owned
by the so-called general government there is a part which corresponds to public
corporations and special credit institutions.Figs.5 and 6 present the evolution of the
the three constitutive components of gross public debt,evaluated in dollars and
respectively in Lei,computed with the exchange rate base registered at the end of
each year.

英语翻译It is remarkable to see that Romania has also begun to demonstrate the correlation between election cycles and the accumulation of public debt.We can observe on the presented graphs the jumps occurred in the electoral years,in 1992 and in
值得注意的是,看到罗马尼亚也已经开始展示
correlation between election cycles and the accumulation of public debt.选举周期之间的相关性和公共债务积累.We can我们可以
observe on the presented graphs the jumps occurred in the electoral years,in 1992观察所提出的图的跳跃,在选举年发生在1992年,
and in 1996 respectively,followed by calm dept accumulation dynamics between the并分别于1996年,随后冷静部之间的积累动态
two elections moments.两次选举的时刻.In the literature,there is a serious focus on evaluating the在文献中,有一项评估的严重关注
impact of the political environment's dynamics on the public debt accumulation.政治环境的动态对公众的影响债务积累.
Some authors even sought to quantify this impact (Roubini and Sachs,1989).一些作者甚至试图量化这种影响（鲁比尼和萨克斯,1989年）.One of其中
the most important conclusions of such studies is that there is a direct correlation这些研究的最重要的结论是,有直接的关系
between the degree of homogeneity of the power coalitions and the dynamics of the之间的权力联盟的同质性程度和力度
public sector deficits.公共部门的赤字.As a proven rule,when the leading political coalition has a作为一个成熟的规则,当领导的政治联盟有
large number of parties with various political orientations,as it was the situation in大量的与各政党的政治方向,因为它的情况
Romania between 1996 and 2000,then the budget policy loses its coherence and the罗马尼亚1996年至2000年,则失去其预算政策的连贯性和
deficits will increase.赤字将会增加.On the contrary,in countries where the political power is in the相反,在有些国家的政治权力是在
hands of a single strong party,the chance to apply an efficient management of public一个强大的政党手中,机会申请一个有效的管理公共
debt is greater.债务更大.
The evolution of the gap between the share of debt in GDP evaluated in之间的债务在国内生产总值的份额差距的演变评价
dollars and that expressed in Lei,shown on the graph in Fig.美元在雷表示,在图图所示.3,reflects the impact of 3,反映了影响
domestic currency depreciation (the value of external debt being converted by本国货币贬值（对外债务的价值被转换的
Lei/USD exchange rate at the end of each year).雷/美元在每年年底的汇率计算）.Moreover,the evolution during the此外,在进化
1990-1998 period in Romania demonstrates a strong reverse correlation between the 1990-1998年在罗马尼亚期间演示了一个强大的反向之间的相关性
change of the rate of the real GDP and the dynamics of the mentioned gap (see Fig.对实际GDP增长率与上述差距的动态变化（见图.
4).4）.
Another important aspect of the analyses regarding the evolution of public另一个关于演化分析的重要方面的公众
debt is represented by the distinction among the main institutional sectors.债务的代表是各机构部门的主要区别.In在
Romania,as we have already mentioned,beside the conventional public debt owned罗马尼亚,正如我们已经提到的旁边传统的公共债务,国有
by the so-called general government there is a part which corresponds to public由所谓的广义政府有一个对应的部分公众
corporations and special credit institutions.公司和特殊信贷机构.Figs.无花果.5 and 6 present the evolution of the目前5和6的演变
the three constitutive components of gross public debt,evaluated in dollars and这三个组成部分的公共债务总额,以美元计算的
respectively in Lei,computed with the exchange rate base registered at the end of分别雷,计算的汇率在年底注册基地
each year.每年.