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Growth and productivity: The role of government debt

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dc.contributor.authorAfonso, António
dc.contributor.authorJalles, João Tovar
dc.date.accessioned2022-09-26T09:53:59Z
dc.date.available2022-09-26T09:53:59Z
dc.date.issued2013
dc.description.abstractWe use a panel of 155 countries to assess the links between growth, productivity and government debt. Via growth equations we assess simultaneity, endogeneity, cross-section dependence, nonlinearities, and threshold effects.We find a negative effect of the debt ratio. For the OECD, the higher the debt maturity the higher the economic growth; financial crisis is detrimental for growth; fiscal consolidation promotes growth; and higher debt ratios are beneficial to TFP growth. The growth impact of a 10% increase in the debt ratio is −0.2% (0.1%) respectively for countries with debt ratios above (below) 90% (30%), and an endogenous debt ratio threshold of 59% can be derived.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationAfonso, António and João Tovar Jalles. "Growth and productivity: The role of government debt".(2013). International Review of Economics & Finance Vol. 25: pp. 384-407.pt_PT
dc.identifier.doi10.1016/j.iref.2012.07.004pt_PT
dc.identifier.issn1059-0560
dc.identifier.urihttp://hdl.handle.net/10400.5/25593
dc.language.isoengpt_PT
dc.publisherElsevierpt_PT
dc.relation(UECE is supported by FCT (Fundação para a Ciência e a Tecnologia), Portugalpt_PT
dc.subjectGovernment Debtpt_PT
dc.subjectCrisespt_PT
dc.subjectPanel Analysispt_PT
dc.titleGrowth and productivity: The role of government debtpt_PT
dc.typejournal article
dspace.entity.typePublication
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT

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DE - Artigos em Revistas Internacionais / Articles in International Journals
UECE - Artigos em Revistas Internacionais / Articles in International Journals