DJIBOUTI'S EXTERNAL PUBLIC DEBT: SUSTAINABILITY AND IMPACT ON ECONOMIC GROWTH

LA DETTE PUBLIQUE EXTÉRIEURE DE DJIBOUTI: SOUTENABILITÉ ET IMPACT SUR LA CROISSANCE ÉCONOMIQUE

Abdelouahab Maarouf (omarahmed2012@hotmail.fr) and Omar Ahmed
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Abdelouahab Maarouf: UM5 - Université Mohammed V de Rabat [Agdal]
Omar Ahmed: UM5 - Université Mohammed V de Rabat [Agdal]

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Abstract: This report examines the effect of external public debt on economic growth in the Republic of Djibouti based on autoregressive distributed lag model (ARDL) during the period 1987 - 2017. The results show a positive and significant effect of debt on economic growth when considered in nominal terms. This effect becomes less significant and statistically insignificant when estimating the net present value of the debt. These results suggest that, contrary to intuition and theory, the use of concessional financing is no more timely and effective than floating and more restrictive borrowing.

Date: 2021-07-07
New Economics Papers: this item is included in nep-ara and nep-mac
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