文章基本信息

标题：FROM EXTERNAL DEBT TO ECONOMIC GROWTH … AND BACK
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作者：Oana Simona (CARAMAN) HUDEA
期刊名称：Lex et Scientia
印刷版ISSN：1583-039X
出版年度：2011
卷号：XVIII
期号：1
页码：252-260
出版社：University of Bucharest and Nicolae Titulescu University
摘要：This paper is meant to trace the relationship existing between external debt and economicgrowth for 109 countries spread all over the world. We have resorted for this study tocross-sectional data, the economic modelling being simultaneously made for a three-year period.After having constructed four models and after having estimated them by econometric techniques,we have selected the most appropriate of them, which is in fact the version to be build upon withinfuture personal studies. The results indicated as optimum the model including GDP in logarithmas endogenous variable and total external debt in logarithm and development level dummy asexogenous variables. The analysis revealed a positive relationship between external debt andeconomic growth, indicating that the threshold above which the indebting influence on theeconomic performance should become negative has not been reached yet. The coefficientsobtained within the estimations performed, construed as elasticities, show that, while GDP isinelastic in relation with debt, the latter has a supra-unitary elasticity, therefore its modificationbeing ampler than the GDP one.
关键词：economic growth; external debt; impact factors; estimates; economic modelling