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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- Gabriella Legrenzi & Costas Milas, 2011.
"Debt Sustainability and Financial Crises: Evidence from the GIIPS,"
Working Paper Series
42_11, The Rimini Centre for Economic Analysis.
- Gabriella Deborah Legrenzi & Costas Milas, 2011. "Debt Sustainability and Financial Crises: Evidence from the GIIPS," CESifo Working Paper Series 3594, CESifo Group Munich.
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John Wiley & Sons, Ltd., vol. 15(1), pages 83-105.
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- repec:cup:cbooks:9780521780506 is not listed on IDEAS
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