Debt Sustainability in India: Empirical Evidence Estimating Time-Varying Parameters
We employed Fincke and Greiner's (2011, Studies in Nonlinear Dynamics & Econometrics) approach for testing sustainability of public debt in the case of India. Their approach was based on the framework of Bohn (1998) who showed how the primary surplus reacts to variations in debt and which has received great attention in economics literature recently. In this contribution, we applied that test to the India for the period 1970-2009, where we allowed for a time-varying reaction coefficient. We did not find the clear-cut result on the sustainability of public debt for the India during study period.
Volume (Year): 32 (2012)
Issue (Month): 2 ()
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Working Paper Series
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- Alfred Greiner & Uwe Köller & Willi Semmler, 2007. "Debt sustainability in the European Monetary Union: Theory and empirical evidence for selected countries," Oxford Economic Papers, Oxford University Press, vol. 59(2), pages 194-218, April.
- Ruppert,David & Wand,M. P. & Carroll,R. J., 2003. "Semiparametric Regression," Cambridge Books, Cambridge University Press, number 9780521780506, December. Full references (including those not matched with items on IDEAS)
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