In search of causality between debt and growth: a graph theoretic approach
Economics Bulletin, 2016, vol. 36, issue 2, 677-687
This paper detects the direction of causality between government debt and economic growth in a multivariate framework using graph theoretic approach for six major OECD countries. The results show that growth causes debt in most countries. A comparison between the full sample and a reduced sample (leaving out the periods of recent financial crisis) indicates that the causal direction from growth to debt is a more recent phenomenon.
Keywords: government debt; economic growth; graph theory; causality analysis (search for similar items in EconPapers)
JEL-codes: E6 H6 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-15-00726
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