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Si us plau utilitzeu sempre aquest identificador per citar o enllaçar aquest document: https://hdl.handle.net/2445/106985
On the bi-directional causal relationship between public debt and economic growth in EMU countries
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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.
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GÓMEZ-PUIG, Marta, SOSVILLA RIVERO, Simón. On the bi-directional causal relationship between public debt and economic growth in EMU countries. _Journal of Policy Modeling_. 2015. Vol. 37, núm. 6, pàgs. 974-989. [consulta: 24 de gener de 2026]. ISSN: 0161-8938. [Disponible a: https://hdl.handle.net/2445/106985]