New empirical evidence on the impact of public debt on economic growth in EMU countries
Nueva evidencia empírica sobre el impacto de la deuda pública sobre el crecimiento económico en los países de la UEM
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Publication Date
2019 -
Publisher
Universidad de Huelva -
Abstract
New empirical evidence is presented on the impact of public debt on economic growth. To that end, we employ the Autoregressive Distributed Lag (ARDL) bounds testing approach using annual data from both central and peripheral countries of the European Economic and Monetary Union (EMU) for the 1961 -2015 period. In particular, we allow for different endogenously (da- ta-based) regimes in the parameter relating the public debt variable to the real growth rate. Our results suggest that the impact of public debt on economic growth not only changes across EMU countries, but also over time
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