RT Journal Article
T1 Assessing heterogeneous time-varying impacts in the debt-growth nexus
A1 Gómez Puig, Marta
A1 Sosvilla Rivero, Simón Javier
AB We empirically identify, measure, and describe the heterogeneity of the debt-growth nexus and the underlying factors that may explain it using panel data for 115 countries from 1995 to 2016. First, countries are endogenously grouped using the grouped fixed effects (GFE) estimator. The GFE estimator endogenously splits the sample into five groups of countries with a distinct estimated effect of public debt-to-GDP ratio on economic growth and allows us to investigate group-specific time-varying impacts. Then, we use a panel data analysis to explore the potential drivers affecting these heterogeneous links’ time-varying magnitude. Our results suggest that the negative impact of public debt on economic growth is moderated by the quality of a country’s institutions and the proportion of productive expenditure but intensified by indebtedness and the maturity of the debt.
PB Taylor and Francis
SN 0003-6846
YR 2024
FD 2024
LK https://hdl.handle.net/20.500.14352/104934
UL https://hdl.handle.net/20.500.14352/104934
LA eng
NO Gómez-Puig, M., & Sosvilla-Rivero, S. (2024). Assessing heterogeneous time-varying impacts in the debt-growth nexus. Applied Economics, 1–19. https://doi.org/10.1080/00036846.2024.2311068
DS Docta Complutense
RD 28 mar 2026