Re-examining the debt-growth nexus: A grouped fixed-effect approach

This paper uses panel data for 116 countries over the period 1995-2016 to investigate the heterogeneity of the debt-growth nexus across countries and the factors underlying it. In the first step, the grouped fixed effects (GFE) estimator proposed by Bonhomme and Manresa (2015) is used to classify co...

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Detalhes bibliográficos
Autores: Gómez-Puig, Marta, Sosvilla Rivero, Simón, Martínez-Zarzoso, Inmaculada
Formato: artículo
Estado:Versión publicada
Fecha de publicación:2019
País:España
Recursos:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
Repositorio:Recercat. Dipósit de la Recerca de Catalunya
OAI Identifier:oai:recercat.cat:2445/158518
Acesso em linha:https://hdl.handle.net/2445/158518
Access Level:acceso abierto
Palavra-chave:Deute públic
Creixement econòmic
Anàlisi de dades de panel
Public debt
Economic growth
Panel analysis
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spelling Re-examining the debt-growth nexus: A grouped fixed-effect approachGómez-Puig, MartaSosvilla Rivero, SimónMartínez-Zarzoso, InmaculadaDeute públicCreixement econòmicAnàlisi de dades de panelPublic debtEconomic growthPanel analysisThis paper uses panel data for 116 countries over the period 1995-2016 to investigate the heterogeneity of the debt-growth nexus across countries and the factors underlying it. In the first step, the grouped fixed effects (GFE) estimator proposed by Bonhomme and Manresa (2015) is used to classify countries into groups, with group membership being endogenously determined. In the second step, a multinomial logit model is used to explore the drivers of the heterogeneity detected, among them the quality of institutions, the composition of debt-funded public expenditure, the relative public and private indebtedness, and the maturity of debt. Finally, the underlying factors explaining the time-varying impact of public debt on growth in the country groups identified is also investigated.Instituto Complutense de Análisis Económico2020202020192020info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersion46 p.application/pdfhttps://hdl.handle.net/2445/158518Articles publicats en revistes (Economia)reponame:Recercat. Dipósit de la Recerca de Catalunyainstname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)InglésReproducció del document publicat a: https://eprints.ucm.es/56339/Documentos de Trabajo del ICAE, 2019, num. 21cc-by-nc (c) Gómez-Puig, Marta et al., 2019http://creativecommons.org/licenses/by-nc/3.0/esinfo:eu-repo/semantics/openAccessoai:recercat.cat:2445/1585182026-05-29T05:05:01Z
dc.title.none.fl_str_mv Re-examining the debt-growth nexus: A grouped fixed-effect approach
title Re-examining the debt-growth nexus: A grouped fixed-effect approach
spellingShingle Re-examining the debt-growth nexus: A grouped fixed-effect approach
Gómez-Puig, Marta
Deute públic
Creixement econòmic
Anàlisi de dades de panel
Public debt
Economic growth
Panel analysis
title_short Re-examining the debt-growth nexus: A grouped fixed-effect approach
title_full Re-examining the debt-growth nexus: A grouped fixed-effect approach
title_fullStr Re-examining the debt-growth nexus: A grouped fixed-effect approach
title_full_unstemmed Re-examining the debt-growth nexus: A grouped fixed-effect approach
title_sort Re-examining the debt-growth nexus: A grouped fixed-effect approach
dc.creator.none.fl_str_mv Gómez-Puig, Marta
Sosvilla Rivero, Simón
Martínez-Zarzoso, Inmaculada
author Gómez-Puig, Marta
author_facet Gómez-Puig, Marta
Sosvilla Rivero, Simón
Martínez-Zarzoso, Inmaculada
author_role author
author2 Sosvilla Rivero, Simón
Martínez-Zarzoso, Inmaculada
author2_role author
author
dc.subject.none.fl_str_mv Deute públic
Creixement econòmic
Anàlisi de dades de panel
Public debt
Economic growth
Panel analysis
topic Deute públic
Creixement econòmic
Anàlisi de dades de panel
Public debt
Economic growth
Panel analysis
description This paper uses panel data for 116 countries over the period 1995-2016 to investigate the heterogeneity of the debt-growth nexus across countries and the factors underlying it. In the first step, the grouped fixed effects (GFE) estimator proposed by Bonhomme and Manresa (2015) is used to classify countries into groups, with group membership being endogenously determined. In the second step, a multinomial logit model is used to explore the drivers of the heterogeneity detected, among them the quality of institutions, the composition of debt-funded public expenditure, the relative public and private indebtedness, and the maturity of debt. Finally, the underlying factors explaining the time-varying impact of public debt on growth in the country groups identified is also investigated.
publishDate 2019
dc.date.none.fl_str_mv 2019
2020
2020
2020
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://hdl.handle.net/2445/158518
url https://hdl.handle.net/2445/158518
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Reproducció del document publicat a: https://eprints.ucm.es/56339/
Documentos de Trabajo del ICAE, 2019, num. 21
dc.rights.none.fl_str_mv cc-by-nc (c) Gómez-Puig, Marta et al., 2019
http://creativecommons.org/licenses/by-nc/3.0/es
info:eu-repo/semantics/openAccess
rights_invalid_str_mv cc-by-nc (c) Gómez-Puig, Marta et al., 2019
http://creativecommons.org/licenses/by-nc/3.0/es
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv 46 p.
application/pdf
dc.publisher.none.fl_str_mv Instituto Complutense de Análisis Económico
publisher.none.fl_str_mv Instituto Complutense de Análisis Económico
dc.source.none.fl_str_mv Articles publicats en revistes (Economia)
reponame:Recercat. Dipósit de la Recerca de Catalunya
instname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
instname_str Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
reponame_str Recercat. Dipósit de la Recerca de Catalunya
collection Recercat. Dipósit de la Recerca de Catalunya
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,812455

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