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| Tekijä: | Choudhry, S. Arvin, M. |
| Otsikko: | The debt overhang and poorer LDCs: testing for causality between indebtedness and growth |
| Lehti: | Scandinavian Journal of Development Alternatives
1998 : MAR, VOL. 17:1, p. 49-63 |
| Asiasana: | DEBT TESTS GROWTH |
| Kieli: | eng |
| Tiivistelmä: | This paper examines the causal link between indebtedness and economic growth by focusing attention on a select group of severely indebted low income countries. Earlier studies using a multi-country framework, suggest that at the aggregate level the causality is a unidirectional one, with debt adversely affecting growth. In this paper, the authors use time-series data to show that this monotonic bivariate relationship is not universal. Analysing each country individually, the authors find some evidence of bi-directional (or feedback) causality, and a number of cases where debt was growth promoting. |
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