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IR15-012_GomezPuig-Sosvilla.pdf (771.48 KB)

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Document de treball

Data de publicació

2015

Llicència de publicació

cc-by-nc-nd, (c) Gómez-Puig et al., 2015
Si us plau utilitzeu sempre aquest identificador per citar o enllaçar aquest document: https://hdl.handle.net/2445/66900

On the bi-directional causal relationship between public debt and economic growth in EMU countries [WP]

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Resum

New 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.

Matèries

Deute públic, Creixement econòmic, Causalitat, Països de la Unió Europea

Matèries (anglès)

Public debt, Economic growth, Causation, European Union countries

Citació

Col·leccions

Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))

Citació

GÓMEZ-PUIG, Marta, SOSVILLA RIVERO, Simón. On the bi-directional causal relationship between public debt and economic growth in EMU countries [WP]. _IREA – Working Papers_. 2015. Vol.  IR15/12. [consulta: 23 de gener de 2026]. ISSN: 2014-1254. [Disponible a: https://hdl.handle.net/2445/66900]

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