EXPLORING THE EFFECT OF TRADE BALANCE AND INDUSTRIAL PRODUCTIONS ON NATIONAL DEBT
Journal of Applied Economic Sciences, 2012, vol. 7, issue 1(19)/ Spring 2012, 64-72
The goal of the current research is to examine structural determinants of national debt levels. Mainstream economic theory holds government revenues and expenditures as the major causes of budget deficits and the accumulation of national debt. This paper adopts a somehow different approach, considering industrial production and trade balance as major causes of a countryâ€™s debt. In order to test the validity of this hypothesis, it examines the relationship between national debt, government revenues and expenditures, industrial production and trade balance in an econometric model. The data used come from Eurostat and they concern 26 European economies.
Keywords: national debt; trade balance; industrial production; panel data analysis (search for similar items in EconPapers)
JEL-codes: E23 H62 H63 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ush:jaessh:v:7:y:2012:i:1(18)_spring2012:p:64
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