Debt-growth linkages in EMU across countries and time horizons
This paper contributes to the literature by empirically examining whether the influence of public debt on economic growth differs between the short and the long run and presents different patterns across euro-area countries. To this end, we use annual data from both central and peripheral countries...
| Autores: | , |
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| Formato: | informe técnico |
| Fecha de publicación: | 2016 |
| País: | España |
| Recursos: | Universidad Complutense de Madrid (UCM) |
| Repositorio: | Docta Complutense |
| Idioma: | inglés |
| OAI Identifier: | oai:docta.ucm.es:20.500.14352/27595 |
| Acesso em linha: | https://hdl.handle.net/20.500.14352/27595 |
| Access Level: | acceso abierto |
| Palavra-chave: | C22 F33 H63 O40 O52 Public debt Economic growth Bounds testing Euro area Peripheral EMU countries Central EMU countries Cooperación económica Economía internacional 5310 Economía Internacional |
| Resumo: | This paper contributes to the literature by empirically examining whether the influence of public debt on economic growth differs between the short and the long run and presents different patterns across euro-area countries. To this end, we use annual data from both central and peripheral countries of the European Economic and Monetary Union (EMU) for the 1960-2012 period and estimate a growth model augmented for public debt using the Autoregressive Distributed Lag (ARDL) bounds testing approach. Our findings tend to support the view that public debt always has a negative impact on the long-run performance of EMU countries, whilst its short-run effect may be positive depending on the country. |
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