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External Debt and Growth in Emerging Economies

M A Guei

International Economic Journal, 2019, vol. 33, issue 2, 236-251

Abstract: The paper studies the relationship between external debt and economic growth in a panel of emerging countries. A number of economists have proposed different methods of analysing the nexus between economic growth and public debt. The paper investigates the debt-growth nexus using a linear and non-linear specification, employing a panel ARDL model on 13 emerging countries during the period 1990–2016. The results show that there is no robust effect of debt on economic growth in the long run; however in the short run, external debt is negatively and significantly correlated to economic growth.

Date: 2019
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Handle: RePEc:taf:intecj:v:33:y:2019:i:2:p:236-251