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Endividamento Público e Crescimento Econômico: Evidências Para Países em Desenvolvimento

Author

Listed:
  • Tiago de Jesus Irineu

    (FACE-UNB)

  • Sérgio Fornazier Meyrelles Filho

    (FACE-UFG)

  • Breno Nahuel Freneau

    (FACE-UFG)

  • Daniel Oliveira Dias

    (FACE-UFG)

Abstract

This paper analyzes the relationship between total public indebtedness and real per capita GDP growth in developing countries. Initially, an effort is made to review the literature, both empirically and theoretically, to understand the possible mechanisms for linking public indebtedness to economic growth. Afterward, empirical exercises are carried out by a panel composed of 69 countries in a 25-year interval (1988 - 2012). The first exercise is a descriptive statistics analysis where we find evidence of a negative relationship between the level of indebtedness and economic growth. After this, a brief econometric analysis is done estimating an augmented growth model with the debt variable via the pooled OLS estimator. The econometric results seem to confirm the existence of a negative linear relationship between public indebtedness and economic growth. Finally, evidence of non-linearity is also found in the relationship between indebtedness and economic growth, when the interaction between debt and interest rates or inflation are taken into account

Suggested Citation

  • Tiago de Jesus Irineu & Sérgio Fornazier Meyrelles Filho & Breno Nahuel Freneau & Daniel Oliveira Dias, 2017. "Endividamento Público e Crescimento Econômico: Evidências Para Países em Desenvolvimento," Working papers - Textos para Discussao do Curso de Ciencias Economicas da UFG 063, Curso de Ciencias Economicas da Universidade Federal de Goias - FACE.
    • Handle: RePEc:ufb:wpaper:063
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    More about this item

    Keywords

    Public indebtedness; Growth; Developing countries;
    All these keywords.

    JEL classification:

    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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