کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
10479320 931608 2015 16 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The causal relationship between debt and growth in EMU countries
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
The causal relationship between debt and growth in EMU countries
چکیده انگلیسی
New evidence is presented on the possible existence of bi-directional causal relationships between public debt and economic growth in both central and peripheral countries of the European Economic and Monetary Union. We test for heterogeneity in the bi-directional Granger-causality across both time and space during the period between 1980 and 2013. The results suggest evidence of a “diabolic loop” between low economic growth and high public debt levels in Spain after 2009. For Belgium, Greece, Italy and the Netherlands debt has a negative effect over growth from an endogenously determined breakpoint and above a debt threshold ranging from 56% to 103% depending on the country.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Policy Modeling - Volume 37, Issue 6, November–December 2015, Pages 974-989
نویسندگان
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