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Hablando claro: ¿Promueve la deuda pública el crecimiento económico?

Author

Listed:
  • Alejandro D. Jacobo

    (Universidad Nacional de Córdoba,Facultad de Ciencias Económicas,Instituto de Economía y Finanzas. Centro de Investigaciones en Ciencias Económicas (CIECS-CONICET)(Argentina))

Abstract

Este trabajo revisa brevemente las últimas contribuciones empíricas sobre la relación deuda/crecimiento. Las principales aportaciones encuentran que la relación entre deuda pública y crecimiento puede representarse mediante un patrón en forma de U invertida (es decir, mientras que los niveles más bajos de deuda afectan positivamente el crecimiento económico, los niveles altos tienen un impacto negativo). A pesar de que un umbral de deuda no es único para todos los países y en todo momento, en cuanto a América Latina, el umbral está entre 64 y 71% para el corto plazo. A largo plazo, el umbral se eleva entre 95 y 97%./ This work briefly reviews the latest empirical findings on debt/growth relationship. The main contributions find that the relationship between public debt and growth can be represented by an inverted U-shaped pattern (i.e. whilst lower levels of debt positively affects economic growth, high levels have a negative impact). Notwithstanding a single debt threshold is not unique for all countries and at all times, as to Latin America, the threshold is between 64 and 71% for the short-run. In the long term the threshold rises to 95 and 97%.

Suggested Citation

  • Alejandro D. Jacobo, 2025. "Hablando claro: ¿Promueve la deuda pública el crecimiento económico?," Revista Actualidad Económica, Universidad Nacional de Córdoba, Facultad de Ciencias Económicas, Instituto de Economía y Finanzas, vol. 35(115), pages 31-42, Ene-Abr.
    • Handle: RePEc:ief:revaec:v:35:y:2025:i:115:p:31-42
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    Keywords

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    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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