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- Title
Public Debt and Economic Growth in Emerging Market Economies.
- Authors
Fincke, Bettina; Greiner, Alfred
- Abstract
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.
- Subjects
EMERGING markets; PUBLIC debts; ECONOMIC development; GROSS domestic product; BALANCE of trade; FOREIGN exchange rates; ECONOMICS
- Publication
South African Journal of Economics, 2015, Vol 83, Issue 3, p357
- ISSN
0038-2280
- Publication type
Article
- DOI
10.1111/saje.12079