Ramos-Herrera, María del CarmenSosvilla-Rivero, Simón2023-06-172023-06-1720171466-428310.1080/00036846.2016.1262522https://hdl.handle.net/20.500.14352/18845Based on a data set of 115 economies, this article empirically investigates the relation between public debt and economic growth. Using the World Bank’s classification for income groups, we initially find that those countries that present the lowest public debt are characterized by the highest economic growth, while the smallest growth rates are associated with the highest public debt. Nevertheless, this conclusion is tempered when we analyse the countries by income level: low-income countries have a different behaviour with respect to lower-middle, upper-middle and high-income countries. When using the IMF’s country classification, the results do not suggest a clear pattern in the public debt–economic growth nexus across different countries, but indicate a heterogeneous relationship between such key macroeconomic variables.engjournal articlehttp://dx.doi.org/10.1080/00036846.2016.1262522open accessC32H63O40O57Public debtEconomic growth.Desarrollo económicoEconometría (Economía)Economía pública5307.03 Modelos y Teorías del desarrollo Económico5307.04 Estudios del desarrollo Económico5302 Econometría