Endividamento Público e Crescimento Econômico: Evidências Para Países em Desenvolvimento

Tiago de Jesus Irineu (), Sérgio Meyrelles Filho, Breno Nahuel Freneau () and Daniel Oliveira Dias ()
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Tiago de Jesus Irineu: FACE-UNB
Breno Nahuel Freneau: FACE-UFG
Daniel Oliveira Dias: FACE-UFG

No 63, Working papers - Textos para Discussao do Curso de Ciencias Economicas da UFG from Curso de Ciencias Economicas da Universidade Federal de Goias - FACE

Abstract: This paper analyzes the relationship between total public indebtedness and real per capita GDP growth in developing countries. Initially, an effort is made to review the literature, both empirically and theoretically, to understand the possible mechanisms for linking public indebtedness to economic growth. Afterward, empirical exercises are carried out by a panel composed of 69 countries in a 25-year interval (1988 - 2012). The first exercise is a descriptive statistics analysis where we find evidence of a negative relationship between the level of indebtedness and economic growth. After this, a brief econometric analysis is done estimating an augmented growth model with the debt variable via the pooled OLS estimator. The econometric results seem to confirm the existence of a negative linear relationship between public indebtedness and economic growth. Finally, evidence of non-linearity is also found in the relationship between indebtedness and economic growth, when the interaction between debt and interest rates or inflation are taken into account

Keywords: Public indebtedness; Growth; Developing countries (search for similar items in EconPapers)
JEL-codes: F40 F47 H60 H63 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2017-10
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https://files.cercomp.ufg.br/weby/up/118/o/TD_063.pdf First version, 2017 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:ufb:wpaper:063

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