The Effects of Government Debt on Private Investment in Bulgaria

Velichka Nikolova

Nauchni trudove, 2020, issue 5, 171-189

Abstract: The main objective of this study is to establish whether there is a relationship between government debt and private investment in Bulgaria, as well as to identify the impact of debt on investment in the long and short-run period. The cointegration analysis and a model with vector error correction are applied in the research. Empirical findings of the study show that the crowding-out hypothesis in Bulgaria cannot be confirmed.

Keywords: government debt; private investment; crowding out effect (search for similar items in EconPapers)
JEL-codes: E62 H60 H63 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:natrud:y:2020:i:5:p:171-189

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