Economic growth and public debt: patterns and lessons between advanced, emerging, and declining growth economies
Date
2023-09-08
Authors
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Publisher
University of the Witswatersrand, Johannesburg
Abstract
This research investigates the causal relationship between economic growth and public debt for economies in different growth categories: advanced, emerging and declining-growth economies, the latter being a new category introduced by this study. The study aims to answer the question: Does the level of economic growth affect public debt accumulation? The results reveal that in advanced economies growth is not a significant explanatory variable for public debt
accumulation nor is there a significant long-run relationship between growth and public debt. For emerging and declining growth economies, the opposite holds- economic growth is a significant explanatory variable for public debt accumulation
Description
A Master’s Thesis submitted in fulfilment of the Degree of Master of Commerce (Economics) in the School of Economics and Finance, University of the Witwatersrand
Keywords
UCTD, Economic growth, Public debt, Emerging and declining-growth economies, Public debt