Publicação
The role of government debt in economic growth
| Resumo: | We study the effect of public debt on economic growth for annual and 5-year average growth rates, as well as the existence of non-linearity effects of debt on growth for 14 European countries from 1970 until 2012. We also consider debt-to-GDP ratio interactions with monetary, public finance, institutional and macroeconomic variables. Our results show a negative impact of -0.01% for each 1% increment of public debt, although debt service has a 10 times worse effect on growth. In addition, we find average debt ratio thresholds of around 75%. Belonging to the Eurozone has a detrimental effect of at least -0.5% for real per capita GDP, and the banking crisis is the most harmful crisis for growth. |
|---|---|
| Autores principais: | Afonso, António |
| Outros Autores: | Alves, José |
| Assunto: | Government Debt Economic Growth Debt Thresholds |
| Ano: | 2014 |
| País: | Portugal |
| Tipo de documento: | working paper |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório da Universidade de Lisboa |
| _version_ | 1866810957200621568 |
|---|---|
| author | Afonso, António |
| author2 | Alves, José |
| author2_role | author |
| author_facet | Afonso, António Alves, José |
| author_role | author |
| contributor_name_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| country_str | PT |
| creators_json_txt | [{\"Person.name\":\"Afonso, António\"},{\"Person.name\":\"Alves, José\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| datacite.creators.creator.creatorName.fl_str_mv | Afonso, António Alves, José |
| datacite.date.Accepted.fl_str_mv | 2014-01-01T00:00:00Z |
| datacite.date.available.fl_str_mv | 2014-11-04T15:30:14Z |
| datacite.date.embargoed.fl_str_mv | 2014-11-04T15:30:14Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| datacite.subjects.subject.fl_str_mv | Government Debt Economic Growth Debt Thresholds |
| datacite.titles.title.fl_str_mv | The role of government debt in economic growth |
| dc.contributor.none.fl_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| dc.creator.none.fl_str_mv | Afonso, António Alves, José |
| dc.date.Accepted.fl_str_mv | 2014-01-01T00:00:00Z |
| dc.date.available.fl_str_mv | 2014-11-04T15:30:14Z |
| dc.date.embargoed.fl_str_mv | 2014-11-04T15:30:14Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10400.5/7410 |
| dc.language.none.fl_str_mv | eng |
| dc.publisher.none.fl_str_mv | ISEG – Departamento de Economia |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| dc.subject.none.fl_str_mv | Government Debt Economic Growth Debt Thresholds |
| dc.title.fl_str_mv | The role of government debt in economic growth |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_8042 |
| description | We study the effect of public debt on economic growth for annual and 5-year average growth rates, as well as the existence of non-linearity effects of debt on growth for 14 European countries from 1970 until 2012. We also consider debt-to-GDP ratio interactions with monetary, public finance, institutional and macroeconomic variables. Our results show a negative impact of -0.01% for each 1% increment of public debt, although debt service has a 10 times worse effect on growth. In addition, we find average debt ratio thresholds of around 75%. Belonging to the Eurozone has a detrimental effect of at least -0.5% for real per capita GDP, and the banking crisis is the most harmful crisis for growth. |
| dirty | 0 |
| eu_rights_str_mv | openAccess |
| format | workingPaper |
| fulltext.url.fl_str_mv | https://repositorio.ulisboa.pt/bitstreams/f370ce7a-4eb9-4adb-8834-fc3bcaeef649/download |
| id | ul_4c43e5200fde4b964b59f01acd366ad6 |
| identifier.url.fl_str_mv | http://hdl.handle.net/10400.5/7410 |
| instacron_str | ul |
| institution | Universidade de Lisboa |
| instname_str | Universidade de Lisboa |
| language | eng |
| network_acronym_str | ul |
| network_name_str | Repositório da Universidade de Lisboa |
| oai_identifier_str | oai:repositorio.ulisboa.pt:10400.5/7410 |
| organization_str_mv | urn:organizationAcronym:ul |
| person_str_mv | Afonso, António Alves, José |
| publishDate | 2014 |
| publisher.none.fl_str_mv | ISEG – Departamento de Economia |
| reponame_str | Repositório da Universidade de Lisboa |
| repository_id_str | urn:repositoryAcronym:ul |
| service_str_mv | urn:repositoryAcronym:ul |
| spelling | engISEG – Departamento de EconomiaporWe study the effect of public debt on economic growth for annual and 5-year average growth rates, as well as the existence of non-linearity effects of debt on growth for 14 European countries from 1970 until 2012. We also consider debt-to-GDP ratio interactions with monetary, public finance, institutional and macroeconomic variables. Our results show a negative impact of -0.01% for each 1% increment of public debt, although debt service has a 10 times worse effect on growth. In addition, we find average debt ratio thresholds of around 75%. Belonging to the Eurozone has a detrimental effect of at least -0.5% for real per capita GDP, and the banking crisis is the most harmful crisis for growth.application/pdfporThe role of government debt in economic growthAfonso, AntónioAlves, JoséHostingInstitutionOrganizationalRepositório Científico de Acesso Aberto da ULisboae-mailmailto:repositorio@reitoria.ulisboa.ptrepositorio@reitoria.ulisboa.ptISSNIsPartOf2183-18152014-11-04T15:30:14Z20142014-01-01T00:00:00ZHandlehttp://hdl.handle.net/10400.5/7410http://purl.org/coar/access_right/c_abf2open accessGovernment DebtEconomic GrowthDebt Thresholds836287 bytesother research producthttp://purl.org/coar/resource_type/c_8042working paperhttp://purl.org/coar/access_right/c_abf2application/pdffulltexthttps://repositorio.ulisboa.pt/bitstreams/f370ce7a-4eb9-4adb-8834-fc3bcaeef649/download |
| spellingShingle | The role of government debt in economic growth Afonso, António Government Debt Economic Growth Debt Thresholds |
| status | SINGLETON |
| subject.fl_str_mv | Government Debt Economic Growth Debt Thresholds |
| title | The role of government debt in economic growth |
| title_full | The role of government debt in economic growth |
| title_fullStr | The role of government debt in economic growth |
| title_full_unstemmed | The role of government debt in economic growth |
| title_short | The role of government debt in economic growth |
| title_sort | The role of government debt in economic growth |
| topic | Government Debt Economic Growth Debt Thresholds |
| topic_facet | Government Debt Economic Growth Debt Thresholds |
| url | http://hdl.handle.net/10400.5/7410 |
| visible | 1 |