Same, Sinethemba2024-07-312024-07-312023Same, Sinethemba. (2023). Public Debt and Government Guarantees [Master’s dissertation, University of the Witwatersrand, Johannesburg]. WireDSpace.https://hdl.handle.net/10539/39923A research report submitted in partial fulfillment of the requirements for the degree of Master of Management in Finance & Investments to the Faculty of Commerce, Law and Management, Wits School of Governance, University of the Witwatersrand, Johannesburg, 2023The focus of this research paper is to examine the relationship between public debt and government guarantees. The analysis considers various macroeconomic indicators, including short-term and long-term interest rates, budget deficits and real GDP growth rate, as control variables. The study predominantly concentrates on 16 European countries, with South Africa being the only African country in consideration. The study employed Generalized Methods of Moments (GMM) which is a Dynamic Panel Data technique, and Fixed Effect in establishing this relationship. The study found a positive association between public debt and government guarantees, short-term real interest rate, and its lag as estimators using the Fixed Effect model. However, budget deficit, real GDP growth, and long-term interest rates exhibit a negative and significant relationshipen© 2023 University of the Witwatersrand, Johannesburg. All rights reserved. The copyright in this work vests in the University of the Witwatersrand, Johannesburg. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of University of the Witwatersrand, Johannesburg.Government GuaranteesReal interest ratesBudget DeficitGDP growth rateUCTDSDG-8: Decent work and economic growthDissertationUniversity of the Witwatersrand, Johannesburg