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External debt and economic growth in Latin America and the Caribbean

In: Monetary Policy Challenges in Latin America

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  • Alfredo Schclarek Curutchet

Abstract

This chapter empirically explores the relationship between external debt and growth for 20 Latin American and Caribbean countries. Using a dynamic system generalized method of moments (GMM) panel estimator, we find that higher (lower) total external debt levels are associated with lower (higher) growth rates, and that this negative relationship is driven by the incidence of public external debt levels, and not by private external debt levels. We do not find evidence of non-linear effects for these relationships.

Suggested Citation

  • Alfredo Schclarek Curutchet, 2023. "External debt and economic growth in Latin America and the Caribbean," Chapters, in: Fernando Toledo & Louis-Philippe Rochon (ed.), Monetary Policy Challenges in Latin America, chapter 14, pages 232-257, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20918_14
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    File URL: https://www.elgaronline.com/doi/10.4337/9781802200706.00028
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