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dc.contributor.authorGómez-Puig, Marta-
dc.contributor.authorSosvilla Rivero, Simón-
dc.description.abstractNew evidence is presented on the possible existence of bi-directional causal relationships between public debt and economic growth in both central and peripheral countries of the European Economic and Monetary Union. We test for heterogeneity in the bi-directional Granger-causality across both time and space during the period between 1980 and 2013. The results suggest evidence of a “diabolic loop” between low economic growth and high public debt levels in Spain after 2009. For Belgium, Greece, Italy and the Netherlands debt has a negative effect over growth from an endogenously determined breakpoint and above a debt threshold ranging from 56% to 103% depending on the country.-
dc.format.extent32 p.-
dc.publisherUniversitat de Barcelona. Institut de Recerca en Economia Aplicada Regional i Pública-
dc.relation.isformatofReproducció del document publicat a:
dc.relation.ispartofIREA – Working Papers, 2015, IR15/12-
dc.relation.ispartofseries[WP E-IR15/12]-
dc.rightscc-by-nc-nd, (c) Gómez-Puig et al., 2015-
dc.subject.classificationDeute públic-
dc.subject.classificationCreixement econòmic-
dc.subject.classificationPaïsos de la Unió Europea-
dc.subject.otherPublic debt-
dc.subject.otherEconomic growth-
dc.subject.otherEuropean Union countries-
dc.titleOn the bi-directional causal relationship between public debt and economic growth in EMU countries [WP]-
Appears in Collections:Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))

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