Determinants of the Public Debt and the Role of the Natural Resources: A Cross-Country Analysis
Elkhan Sadik-Zada and
Andrea Gatto
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Elkhan Sadik-Zada: Ruhr-Universität Bochum and Cambridge University
Andrea Gatto: Department of Economic & Legal Studies (DISEG)
Authors registered in the RePEc Author Service: Andrea Gatto ()
No 2019.04, Working Papers from Fondazione Eni Enrico Mattei
Abstract:
This paper investigates the major drivers of the public debt growth in 184 countries. The underlying cross-country survey is conducted on the basis of the improved compilation of datasets on the central government debt for 2013. The study finds that oil abundance, economic growth rate, the share of mineral rent in the total revenue, interest rate payments for foreign borrowings, and being a developing country have statistically significant impact on the growth of the public debt. In contrast, defense spending, unemployment rate, and inflation rate do not have a statistically significant positive impact on the public debt rate.
Keywords: Public debt; Oil rent; Mineral rent; Defence spending; Developing countries (search for similar items in EconPapers)
JEL-codes: F21 F3 F34 F36 G15 H6 N1 (search for similar items in EconPapers)
Date: 2019-03
New Economics Papers: this item is included in nep-ene
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Citations: View citations in EconPapers (10)
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Related works:
Working Paper: Determinants of the Public Debt and the Role of the Natural Resources: a Cross-Country Analysis (2019) 
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Persistent link: https://EconPapers.repec.org/RePEc:fem:femwpa:2019.04
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