Public Debt and Economic Growth in Emerging Market Economies

被引:26
作者
Fincke, Bettina [1 ]
Greiner, Alfred [1 ]
机构
[1] Univ Bielefeld, Business Adm & Econ, D-33615 Bielefeld, Germany
关键词
Public debt; economic growth; emerging markets; fixed effects estimation; random effects estimation;
D O I
10.1111/saje.12079
中图分类号
F [经济];
学科分类号
02 ;
摘要
This paper empirically studies the relationship between public debt and economic growth for selected emerging market economies by performing panel data estimations. The results reveal a statistically significant positive correlation between public debt and the subsequent growth rate of per capita gross domestic product (GDP). Population and investment are also positively correlated with per capita growth, whereas the initial level of real GDP per capita exerts a negative influence on growth, implying conditional convergence. Other variables such as the inflation rate, the trade balance or the exchange rate do not yield a statistically significant effect with respect to economic growth.
引用
收藏
页码:357 / 370
页数:14
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