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ABSTRACT
The paper studies the relationship between external debt and economic growth in a panel of emerging countries. A number of economists have proposed different methods of analysing the nexus between economic growth and public debt. The paper investigates the debt-growth nexus using a linear and non-linear specification, employing a panel ARDL model on 13 emerging countries during the period 1990–2016. The results show that there is no robust effect of debt on economic growth in the long run; however in the short run, external debt is negatively and significantly correlated to economic growth.
Disclosure Statement
No potential conflict of interest was reported by the author.
Additional information
Notes on contributors
K. M. Guei
K. M. Guei, a postdoctorate researcher in Economics, writes on both external debt and international trade. Among his recent work are: Revenue, welfare and trade effects of the European Union FTA on South Africa (South African Journal of Economic and Management Sciences, 2017) and Trade openness and economic growth: The case of ECOWAS (Journal of Economic and Financial Sciences, 2019.