Analyse de la non-linéarité entre la dette publique extérieure et croissance économique dans les pays de la Communauté des Économique États de l’Afrique Centrale « CEEAC »

Analysis of the non-linearity between external public debt and economic growth in the countries of the Community of Economic States of Central Africa "ECCAS"

Jean Christophe Ntita Ntita, Franck Kazadi Ntita and Jean de Dieu Ntanga Ntita

MPRA Paper from University Library of Munich, Germany

Abstract: This paper determines the effect of external public debt on the economic growth of the Economic Community of Central African States. To achieve this objective, we used the Hansen model (1999) over the period 1996-2017. The results of the econometric tests indicate a no linear relationship between the external public debt and the economic growth with an optimum threshold evaluated at 72.11 % of GDP. Indeed, the external public debt has a positive impact on the economic growth for any debt below this threshold. However, any debt beyond this threshold has a negative impact on the economic growth. Therefore, to sustain economic growth in the ECCAS, external public debt management should be conditionned by good governance.

Keywords: Public external debt; economic growth; threshold effect; ECCAS. (search for similar items in EconPapers)
JEL-codes: C23 H63 O11 O55 (search for similar items in EconPapers)
Date: 2020-05-19, Revised 2020-05-25
New Economics Papers: this item is included in nep-fdg
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:100652

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