Título:
|
The causal relationship between debt and growth in EMU countries
|
Autores:
|
Gómez-Puig, Marta ;
Sosvilla-Rivero, Simón
|
Tipo de documento:
|
texto impreso
|
Editorial:
|
Elsevier, 2015
|
Dimensiones:
|
application/pdf
|
Nota general:
|
info:eu-repo/semantics/openAccess
|
Idiomas:
|
|
Palabras clave:
|
Estado = Publicado
,
Materia = Ciencias Sociales: Economía: Desarrollo económico
,
Materia = Ciencias Sociales: Economía: Econometría
,
Materia = Ciencias Sociales: Economía: Economía internacional
,
Materia = Ciencias Sociales: Economía: Economía pública
,
Tipo = Artículo
|
Resumen:
|
New evidence is presented on the possible existence of bi-directional causal relationships between public debt and economic growth in both central and peripheral countries of the European Economic and Monetary Union. We test for heterogeneity in the bi-directional Granger-causality across both time and space during the period between 1980 and 2013. The results suggest evidence of a “diabolic loop” between low economic growth and high public debt levels in Spain after 2009. For Belgium, Greece, Italy and the Netherlands debt has a negative effect over growth from an endogenously determined breakpoint and above a debt threshold ranging from 56% to 103% depending on the country.
|
En línea:
|
https://eprints.ucm.es/59875/1/The%20casual%20relationship-G%C3%B3mez-Puig%20%28Postprint%29.pdf
|