Public debt and aggregate investment in the EU

被引：2
作者：
Kostarakos, Ilias [1 ,2 ]
机构：
[1] Econ & Social Res Inst, Econ Anal Div, Dublin, Ireland
[2] Trinity Coll Dublin, Dept Econ, Dublin, Ireland
来源：
APPLIED ECONOMICS LETTERS | 2022年 / 29卷 / 15期
关键词：
Common factor model; cross-sectional dependence; non-linearity; public debt; GOVERNMENT DEBT; ECONOMIC-GROWTH; IMPACT; PANELS;
D O I：
10.1080/13504851.2021.1931655
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this paper, I study the public debt-aggregate investment nexus in a panel of EU countries. The empirical approach is based on the common factor framework, which allows accounting for cross-country heterogeneity and cross-sectional dependence. The empirical results indicate that public debt has, on average, an adverse effect that is more pronounced in the public investment case. Moreover, there are evidence indicating the presence of a nonlinear relationship between debt and investment.
引用
收藏
页码：1358 / 1364
页数：7
相关论文
共 50 条
  • [1] Debt and Private Investment: Does the EU Suffer from a Debt Overhang?
    Vanlaer, Willem
    Picarelli, Mattia
    Marneffe, Wim
    [J]. OPEN ECONOMIES REVIEW, 2021, 32 (04) : 789 - 820
  • [2] Public Debt and Economic Growth in EU Countries
    Onofrei, Mihaela
    Bostan, Ionel
    Firtescu, Bogdan Narcis
    Roman, Angela
    Rusu, Valentina Diana
    [J]. ECONOMIES, 2022, 10 (10)
  • [3] Effects of public debt on public infrastructure investment in Ghana
    Frimpong, Benjamin
    Fumey, Abel
    Nketiah-Amponsah, Edward
    [J]. COGENT ECONOMICS & FINANCE, 2024, 12 (01):
  • [4] PUBLIC DEBT AND AGGREGATE RISK
    Desbonnet, Audrey
    Kankanamge, Sumudu
    [J]. MACROECONOMIC DYNAMICS, 2017, 21 (08) : 1996 - 2032
  • [5] PUBLIC DEBT AND ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS OF THE STRUCTURE CHANGES OF PUBLIC DEBT IN THE EU COUNTRIES
    Murin, Martin
    [J]. PROCEEDINGS OF 14TH INTERNATIONAL SCIENTIFIC CONFERENCE: ECONOMIC POLICY IN THE EUROPEAN UNION MEMBER COUNTRIES, PTS 1 AND 2, 2016, : 481 - 489
  • [6] Asymmetric Impact of Public Debt on Economic Growth in Selected EU Countries
    Sulikova, Veronika
    Djukic, Mihajlo
    Gazda, Vladimir
    Horvath, Denis
    Kulhanek, Lumir
    [J]. EKONOMICKY CASOPIS, 2015, 63 (09): : 944 - 958
  • [7] Public debt and opportunity costs of public investment
    Kellermann, K
    [J]. JAHRBUCHER FUR NATIONALOKONOMIE UND STATISTIK, 2004, 224 (04): : 471 - 487
  • [8] The link between public debt and investment: an empirical assessment from emerging markets
    de Mendonca, Helder Ferreira
    Brito, Ytallo
    [J]. APPLIED ECONOMICS, 2021, 53 (50) : 5864 - 5876
  • [9] Military spending, public debt, and economic growth in Cameroon
    Kengdo, Arsene Aurelien Njamen
    [J]. SUSTAINABLE FUTURES, 2023, 6
  • [10] Public debt and growth: Heterogeneity and non-linearity
    Eberhardt, Markus
    Presbitero, Andrea F.
    [J]. JOURNAL OF INTERNATIONAL ECONOMICS, 2015, 97 (01) : 45 - 58
12345