UTL Repository >
ISEG - Instituto Superior de Economia e Gestão / ISEG - School of Economics & Management Lisbon >
Departamento de Economia / Department of Economics >
DE - Documentos de trabalho / Working Papers >

Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/3514

Title: Growth and productivity : the role of government debt
Authors: Afonso, António
Jalles, João Tovar
Keywords: Government debt
Crises
Panel analysis
Issue Date: 2011
Publisher: ISEG - Departamento de Economia
Citation: Afonso, António, João Tovar Jalles. 2011. "Growth and productivity : the role of government debt". Instituto Superior de Economia e Gestão - ISEG/DE Working papers nº 13-2011/DE/UECE.
Series/Report no.: DE Working papers; nº 13-2011/DE/UECE.
Abstract: We 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 economic growth; financial crisis are 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.
URI: http://hdl.handle.net/10400.5/3514
ISSN: 0874-4548
Appears in Collections:UECE - Documentos de Trabalho / UECE - Working Papers
UECE - Documentos de Trabalho / UECE - Working Papers
DE - Documentos de trabalho / Working Papers

Files in This Item:

File Description SizeFormat
WP1311.pdf653.58 kBAdobe PDFView/Open
Statistics
FacebookTwitterDeliciousLinkedInDiggGoogle BookmarksMySpaceOrkut
Formato BibTex mendeley Endnote Logotipo do DeGóis 

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.

 

 
Estamos no RCAAP Governo Português separator Ministério da Educação e Ciência   Fundação para a Ciência e a Tecnologia

Financiado por:

POS_C UE