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Threshold Effects of External Debt on Economic Growth of Iran: Smooth Transition Regression (STR) Model

Listed author(s):
  • Alizadeh, Mohammad

    ()

    (Assistant Professor of Economics, Lorestan University)

  • Golkhandan , Abolghasem

    ()

    (Ph.D. Student in Economics, Lorestan University)

  • Mohamadian Mansoor , Sahebeh

    ()

    (Lecturer, University of Payam-Noor)

Registered author(s):

    Previous studies show conflicting results about the effects of external debt on economic growth in different countries; this inconsistency in results could be due to nonlinear effects of external debt on economic growth. The identification of this nonlinear relationship can be widely used in government policies toward external debt. This paper investigates the impact of external debt on economic growth in Iran during the period 1970-2014. For this purpose, is used the smooth transition regression (STR) model. Results of the estimated Smooth Transition Regression (STR) model, approved the nonlinear effects of external debt on economic growth, also external debt had a negative effect on economic growth in the form of a two regime structures with a threshold level of about 18770 million dollars. So that increases the intensity of this negative impact with crossing of threshold level and entering the second regime.

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    File URL: http://ecoj.tabrizu.ac.ir/jufile?c2hvd1BERj00MDY1Jl9hY3Rpb249c2hvd1BERiZhcnRpY2xlPTQwNjUmX29iPTEzZDZhNWIxM2NjN2Q0Nzk0NGM0YTE5Y2I4NGJiMDRh
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    Article provided by Faculty of Economics, Management and Business, University of Tabriz in its journal Quarterly Journal of Applied Theories of Economics.

    Volume (Year): 2 (2015)
    Issue (Month): 2 (September)
    Pages: 1-24

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    Handle: RePEc:ris:qjatoe:0009
    Contact details of provider: Web page: http://www.ecoj.tabrizu.ac.ir/

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