학술논문
Examining the Non-Linear Impact of External Debt on Economic Convergence
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- 영문명
- Examining the Non-Linear Impact of External Debt on Economic Convergence
- 발행기관
- 세종대학교 경제통합연구소
- 저자명
- Thai Hong Le Lan Trinh Thi Phan
- 간행물 정보
- 『Journal of Economic Integration』제37권 제3호, 377~422쪽, 전체 46쪽
- 주제분류
- 경제경영 > 경제학
- 파일형태
- 발행일자
- 2022.09.30
8,320원
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국문 초록
영문 초록
This article investigates the impact of external debt on economic convergence in 201 economies from 1990 to 2020. Panel data collected from the fiscal space database of the World Bank are analyzed using the conditional beta convergence framework. Results show that external debt negatively affects growth and there is no evidence to support the non-linear association. However, external debt influences the convergence speed in an inverted-U-shaped fashion. The economic convergence speeds up as the level of indebtedness increases to a threshold above which the convergence slows down as the level of foreign debts continues to increase. We also disaggregate external debt into its six sub-components and discover the non-linear effects of private debts and debts denominated in domestic currency on the convergence process.
목차
Ⅰ. Introduction
Ⅱ. Literature Review
Ⅲ. Methodology
Ⅳ. Empirical Findings
Ⅴ. Conclusion
References
해당간행물 수록 논문
- Institutional Quality and Labour Productivity: Evidence from the Economic Community of West African States Countries
- Examining the Non-Linear Impact of External Debt on Economic Convergence
- The Taylor Rule in Egypt: Is it Optimal? Is there Equilibrium Determinacy?
- New Globalization and Multipolarity: A Critical Review and the Regional Comprehensive Economic Partnership Case
- Building Scenarios on the Regional Integration in Eurasia along the New Silk Road
- ESG Performance of Multinational Companies and Stock Price Crash: Evidence from Korea
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