Merhaba Misafir

Economic growth and public debt in the economic globalization era: An empirical investigation of developing countries

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This paper empirically examines the causal relationship between public debt and economic growth in a sample of the 72 countries consisting of less developed and developing, country-by-country, in the period of 1970–2015. I apply the Toda-Yamamoto augmented Granger non-causality testing procedure. I observe a significant causality from economic growth to the public debt of a country in twenty-one countries. In fifteen countries, there is a unidirectional causality running from the public debt to economic growth. I find bi-directional causality in only nine countries and no causal relation in twenty-seven economies.

Yayınlandığı Kaynak : Aurum Sosyal Bilimler Dergisi
  • Yıl : 2018
  • Cilt : 3
  • ISSN : 2458-9896
  • Sayı : 2
  • Sayfa Aralığı : 1-23
  • IO Kayıt No : 89287
  • Yayıncı : Altınbaş Üniversitesi