Volume 11, Issue 40 (6-2020)
jemr 2020, 11(40): 159-183 |
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Zhilaei aghdam J, Daghighiasli A R, Daman Kashide M, Asmailpor Magari A. The Long-Run Relationship between External Government Debt and Economic Growth in Developing Countries with Upper Middle Income Level (Panel Co-integration Approach). jemr 2020; 11 (40) :159-183
URL: http://jemr.khu.ac.ir/article-1-1954-en.html
URL: http://jemr.khu.ac.ir/article-1-1954-en.html
1- Country and Municipalities Organization
2- Islamic Azad University of Central Tehran Branch ,a.daghighiasli@iauctb.ac.ir
3- Islamic Azad University of Central Tehran Branch
2- Islamic Azad University of Central Tehran Branch ,
3- Islamic Azad University of Central Tehran Branch
Abstract: (4527 Views)
The relationship between external debt and economic growth is one of the important issues in macroeconomics literature and has been considered in empirical studies. So, in this paper the long-run relationship among external government debt and economic growth in 58 selected developing countries for 1985-2018 by applying a pool mean group method which is suggested by Pesaran & Smith. The main empirical results showed that there is a long-run relationship between external debt and economic growth. Also, increase in growth in selected countries in addition to the influence of produce factors, labor, capital stock and monetary policy, influence of public debt. Also, capital stock, open economic, financial balance and saving variables has positive effect and population growth and Government revenue has negative effect on economic growth.
Keywords: External Government Debt, Economic Growth, Selected Developing Countries, Dynamic Panel Data Approach
Type of Study: توسعه ای |
Subject:
رشد و توسعه و سیاست های کلان
Received: 2020/01/12 | Accepted: 2020/08/16 | Published: 2020/09/22
Received: 2020/01/12 | Accepted: 2020/08/16 | Published: 2020/09/22
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