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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Public debt and economic growth in emerging market economies
Authors:Fincke, BettinaISNI
Greiner, AlfredISNI
Year:2015
Periodical:South African Journal of Economics (ISSN 0038-2280)
Volume:83
Issue:3
Pages:357-370
Language:English
Geographic term:South Africa
Subjects:public debt
economic development
economic models
External link:https://doi.org/10.1111/saje.12079
Abstract:This paper empirically studies the relationship between public debt and economic growth for selected emerging market economies (including South Africa) by performing panel data estimations. The results reveal a statistically significant positive correlation between public debt and the subsequent growth rate of per capita gross domestic product (GDP). Population and investment are also positively correlated with per capita growth, whereas the initial level of real GDP per capita exerts a negative influence on growth, implying conditional convergence. Other variables such as the inflation rate, the trade balance or the exchange rate do not yield a statistically significant effect with respect to economic growth. Bibliogr., notes, ref., sum. [Journal abstract]
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