INVESTIGADORES
SCHCLAREK CURUTCHET Alfredo
congresos y reuniones científicas
Título:
Debt and Economic Growth in Developing and Industrial Countries
Autor/es:
ALFREDO SCHCLAREK
Lugar:
Buenos Aires, Argentina
Reunión:
Conferencia; XXXIX Reunion Annual de la AAEP; 2004
Institución organizadora:
Asociación Argentina de Economía Política
Resumen:
This paper empirically explores the relationship between debt andgrowth for a number of developing and industrial economies. Fordeveloping countries, we find that lower total external debtlevels are associated with higher growth rates, and that thisnegative relationship is driven by the incidence of publicexternal debt, and not by private external debt. Regarding thechannels through which debt accumulation affects growth, we findthat this is mainly driven by inhibiting capital accumulation. Wefind only a weak connection between external debt and total factorproductivity growth. In the case of private savings rates, theresults are mixed. In addition, we do not find any support for aninverted-U shape relationship between external debt and growth.For industrial countries, we do not find any significantrelationship between gross government debt and economic growth.
