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On the heterogeneous link between public debt and economic growth

dc.contributor.authorGomez-Puig, Marta
dc.contributor.authorSosvilla-Rivero, Simon
dc.contributor.authorMartinez-Zarzoso, Inmaculada
dc.date.accessioned2022-06-03T09:45:15Z
dc.date.available2022-06-03T09:45:15Z
dc.date.issued2022-02-12
dc.identifier.citationGómez-Puig, M., Sosvilla-Rivero, S., & Martínez-Zarzoso, I. (2022). On the heterogeneous link between public debt and economic growth. Journal of International Financial Markets, Institutions and Money, 77, 101528.ca_CA
dc.identifier.issn1042-4431
dc.identifier.urihttp://hdl.handle.net/10234/197915
dc.description.abstractWe use panel data for 115 countries over the period 1995–2016 to model the heterogeneity of the debt-growth nexus along with the underlying factors that might explain it. The grouped fixed effect (GFE) estimator is used to endogenously classify countries into groups and a multinomial logit model is employed to explore the drivers of the detected heterogeneity. The GFE estimator classifies countries into five groups for which debt has different impacts on growth. According to our results, the likelihood of a strong impact is moderated by the quality of the institutions and the proportion of productive expenditure but intensified by the level of indebtedness and the maturity of the debt.ca_CA
dc.format.extent21 p.ca_CA
dc.format.mimetypeapplication/pdfca_CA
dc.language.isoengca_CA
dc.publisherElsevierca_CA
dc.relation.isPartOfJournal of International Financial Markets, Institutions & Money 77 (2022) 101528ca_CA
dc.rights1042-4431/© 2022 The Author(s). Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).ca_CA
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/ca_CA
dc.subjectpublic debtca_CA
dc.subjecteconomic growthca_CA
dc.subjectheterogeneityca_CA
dc.subjectgrouped fixed effectsca_CA
dc.subjectpanel dataca_CA
dc.subjectmultinomial logit regressionca_CA
dc.titleOn the heterogeneous link between public debt and economic growthca_CA
dc.typeinfo:eu-repo/semantics/articleca_CA
dc.subject.jelC23ca_CA
dc.subject.jelF33ca_CA
dc.subject.jelH63ca_CA
dc.subject.jelO47ca_CA
dc.subject.jelO52ca_CA
dc.identifier.doihttps://doi.org/10.1016/j.intfin.2022.101528
dc.rights.accessRightsinfo:eu-repo/semantics/openAccessca_CA
dc.type.versioninfo:eu-repo/semantics/publishedVersionca_CA
project.funder.nameInstituto de Estudios Fiscalesca_CA
project.funder.nameMinisterio de Economía, Industria y Competitividadca_CA
project.funder.nameGeneralitat Valencianaca_CA
project.funder.nameUniversitat Jaume Ica_CA
oaire.awardNumberIEF 014/2021ca_CA
oaire.awardNumberPID2019-105986-GB-C21ca_CA
oaire.awardNumberPID2020-114646RB-C42ca_CA
oaire.awardNumberPrometeo 2018- 108ca_CA
oaire.awardNumberUJI-B2020-57ca_CA


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1042-4431/© 2022 The Author(s). Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).
Excepto si se señala otra cosa, la licencia del ítem se describe como: 1042-4431/© 2022 The Author(s). Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).