Debt sustainability, structural breaks and nonlinear fiscal adjustment: empirical evidence from Algeria
Abderrahim Chibi (),
Sidi Mohamed Chekouri () and
Mohamed Benbouziane ()
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Abderrahim Chibi: Maghnia University Center
Sidi Mohamed Chekouri: Maghnia University Center
International Review of Economics, 2019, vol. 66, issue 4, No 3, 369-397
Abstract This research work seeks to examine a specific issue of the Algerian public debt sustainability using a nonlinear model approach. The results obviously indicate that the existence of threshold effects in the Algerian public debt depends on the sixth lag in oil price (US $ 80.85 per barrel). Thus, nonlinear unit root tests accept the null hypothesis of the unit roots; this intends to convey that the time series of public debt is not stationary and therefore cannot sustain the public debt in Algeria over the long term.
Keywords: Public debt; Sustainability; Threshold effects; STAR models; Stationarity (search for similar items in EconPapers)
JEL-codes: C22 E62 H62 (search for similar items in EconPapers)
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