SCHCLAREK CURUTCHET ALFREDO
Congresos y reuniones científicas
Título:
Debt and Economic Growth in Developing and Industrial Countries
Autor/es:
ALFREDO SCHCLAREK
Lugar:
Paris, Francia
Reunión:
Conferencia; LACEA 2005 Annual Meeting; 2005
Institución organizadora:
Asociación de Economía de América Latina y el Caribe (LACEA)
Resumen:
This paper empirically explores the relationship between debt and
growth for a number of developing and industrial economies. For
developing countries, we find that lower total external debt
levels are associated with higher growth rates, and that this
negative relationship is driven by the incidence of public
external debt, and not by private external debt. Regarding the
channels through which debt accumulation affects growth, we find
that this is mainly driven by inhibiting capital accumulation. We
find only a weak connection between external debt and total factor
productivity growth. In the case of private savings rates, the
results are mixed. In addition, we do not find any support for an
inverted-U shape relationship between external debt and growth.
For industrial countries, we do not find any significant
relationship between gross government debt and economic growth.