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Public Debt And Economic Growth In The European Union

Author

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  • Piotr MISZTAL

Abstract

The main aim of the article is to present the relationships between public debt and economic growth in the European Union in the period 2000–2010. The article consists of two parts. The first part deals with theoretical analysis of the relationships between public debt and economic growth, including reasons and factors determining these relationships. In the next part of article, there are examined the relationships between public debt and gross domestic product in the EU by using the Vector Autoregression Model (VAR). There are estimated elasticity coefficients of public debt to GDP and elasticity coefficients of GDP to public debt on the base of impulse response function. Then, there is made variance decomposition of the public debt and GDP in order to assess the impact of these factors on the variability of GDP and public debt respectively.

Suggested Citation

  • Piotr MISZTAL, 2010. "Public Debt And Economic Growth In The European Union," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 5(3(13)/Fal), pages 292-302.
  • Handle: RePEc:ush:jaessh:v:5:y:2010:i:3(13)_fall2010:p:116
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    File URL: http://www.jaes.reprograph.ro/articles/fall2010/MistzalP.pdf
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    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2010. "Growth in a Time of Debt," American Economic Review, American Economic Association, vol. 100(2), pages 573-578, May.
    2. Saleh, Ali Salman, 2003. "The Budget Deficit and Economic Performance: A Survey," Economics Working Papers wp03-12, School of Economics, University of Wollongong, NSW, Australia.
    3. Helene Poirson Ward & Luca A Ricci & Catherine A Pattillo, 2004. "What Are the Channels Through Which External Debt Affects Growth?," IMF Working Papers 04/15, International Monetary Fund.
    4. Jaejoon Woo & Manmohan S. Kumar, 2015. "Public Debt and Growth," Economica, London School of Economics and Political Science, vol. 82(328), pages 705-739, October.
    5. Winston Moore & Chrystol Thomas, 2010. "A meta-analysis of the relationship between debt and growth," International Journal of Development Issues, Emerald Group Publishing, vol. 9(3), pages 214-225, September.
    6. Schclarek, Alfredo, 2004. "Debt and Economic Growth in Developing and Industrial Countries," Working Papers 2005:34, Lund University, Department of Economics.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. repec:gam:jecomi:v:6:y:2018:i:1:p:10-:d:130247 is not listed on IDEAS
    2. Wu, Yanrui, 2014. "Local government debt and economic growth in China," BOFIT Discussion Papers 20/2014, Bank of Finland, Institute for Economies in Transition.
    3. Basil Dalamagas & Stefanos Tantos, 2016. "Optimal Versus Actual Maturity of Government Debt: The Case of Greece," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 66(3), pages 25-52, July-Sept.
    4. repec:bla:ausecp:v:56:y:2017:i:2:p:95-118 is not listed on IDEAS
    5. Irina BILAN, 2015. "Economic Consequences Of Public Debt. The Case Of Central And Eastern European Countries," EURINT, Centre for European Studies, Alexandru Ioan Cuza University, vol. 2, pages 36-51.
    6. Irina Bilan & Iulian Ihnatov, 2015. "Public Debt and Economic Growth: A Two-Sided Story," International Journal of Economic Sciences, International Institute of Social and Economic Sciences, vol. 4(2), pages 24-39, June.

    More about this item

    Keywords

    public debt; budget deficit; economic growth; crowd–in effect;

    JEL classification:

    • H6 - Public Economics - - National Budget, Deficit, and Debt

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