Afonso, António
The role of government debt in economic growth / Antonio Afonso, José Alvés .-- , 2015
Dispone de versión electrónica. Resumen. Bibliografía. Conclusión.
We study the effect of public debt on economic growth for anual and 5-year average growth rates, as well as the existence of non-linearity effectsof debt on growth for 14 European countries from 1970 until 2012. We also consider debt-to-GDP ratio interactions with various subsets of monetary, public finance, institutional and macroeconomic variables. Our results show a máximum negative impact of around -0.04% and -0.03% for each 1% increment of public debt, foranual and 5-year average growth rates, respectively. In addition, we find average debt ratio thresholds of around 75%. Belonging to the Eurozone has a detrimental effect at least -0.5% for real per capita GDP, and the banking crisis is themost harmful crisis for growth.
DEUDA PUBLICA
DESARROLLO ECONOMICO
PRODUCTO INTERIOR BRUTO
UNION EUROPEA
BANCOS
CRISIS FINANCIERA
Alves, José Costa
Hacienda Pública Españolan. 215 (4/2015), p. 9-26
The role of government debt in economic growth / Antonio Afonso, José Alvés .-- , 2015
Dispone de versión electrónica. Resumen. Bibliografía. Conclusión.
We study the effect of public debt on economic growth for anual and 5-year average growth rates, as well as the existence of non-linearity effectsof debt on growth for 14 European countries from 1970 until 2012. We also consider debt-to-GDP ratio interactions with various subsets of monetary, public finance, institutional and macroeconomic variables. Our results show a máximum negative impact of around -0.04% and -0.03% for each 1% increment of public debt, foranual and 5-year average growth rates, respectively. In addition, we find average debt ratio thresholds of around 75%. Belonging to the Eurozone has a detrimental effect at least -0.5% for real per capita GDP, and the banking crisis is themost harmful crisis for growth.
DEUDA PUBLICA
DESARROLLO ECONOMICO
PRODUCTO INTERIOR BRUTO
UNION EUROPEA
BANCOS
CRISIS FINANCIERA
Alves, José Costa
Hacienda Pública Españolan. 215 (4/2015), p. 9-26