Public debt and economic growth: panel data evidence for Asian countries

This study examines the relationship between public debt on both short and long-run economic growth, in a panel of selected Asian countries for the period of 1980–2012. We employ several econometrics methods: pooled mean group, mean group, dynamic fixed effects and also allow for common correlated e...

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Bibliographic Details
Published in:Journal of economics and finance 2021-04, Vol.45 (2), p.270-287
Main Authors: Asteriou, Dimitrios, Pilbeam, Keith, Pratiwi, Cecilia Eny
Format: Article
Language:English
Subjects:
Causality
Developing countries
Economic crisis
Economic growth
Economics
Economics and Finance
Eurozone
Finance
GDP
Gross Domestic Product
Growth rate
Industrialized nations
LDCs
Longitudinal studies
Macroeconomics/Monetary Economics//Financial Economics
Sovereign debt
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Summary:This study examines the relationship between public debt on both short and long-run economic growth, in a panel of selected Asian countries for the period of 1980–2012. We employ several econometrics methods: pooled mean group, mean group, dynamic fixed effects and also allow for common correlated effects. The impact of a change in public debt is also analysed using asymmetric panel ARDL method. Our results indicate that an increase in government debt is negatively associated with economic growth in both the short and long-run.
ISSN:1055-0925
1938-9744
DOI:10.1007/s12197-020-09515-7