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
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