Revisiting the role of external debt in economic growth of developing countries
This paper proposes a study on the contribution of external debt to the expansion of economic growth for 31 developing countries. Over a period of 36 years, by using dynamic panel data econometrics estimation GMM-system, the results reveal that the accumulation of external debt is associated with a...
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| Veröffentlicht in: | Journal of business economics and management 2012-11, Vol.13 (5), p.968-993 |
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| container_title | Journal of business economics and management |
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| creator | Nurazira Mohd Daud, Siti Podivinsky, Jan M |
| description | This paper proposes a study on the contribution of external debt to the expansion of economic growth for 31 developing countries. Over a period of 36 years, by using dynamic panel data econometrics estimation GMM-system, the results reveal that the accumulation of external debt is associated with a slowdown in the economies of the developing countries. In addition, this paper finds evidence that debt service ratio does not crowd out the investment rate in developing countries. In other words, even though external debt is negatively associated with economic growth, countries are found to be safe from being in the debt overhang hypothesis. Furthermore, there is evidence to support the existence of spatial dependence in the growth model, suggesting the existence of a positive spillover effect of growth among the neighbouring countries. |
| doi_str_mv | 10.3846/16111699.2012.701224 |
| format | Article |
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Furthermore, there is evidence to support the existence of spatial dependence in the growth model, suggesting the existence of a positive spillover effect of growth among the neighbouring countries.</description><subject>Analysis</subject><subject>Developing countries</subject><subject>Economic aspects</subject><subject>Economic growth</subject><subject>Economy</subject><subject>external debt</subject><subject>External debts</subject><subject>investment</subject><subject>spatial econometrics</subject><issn>1611-1699</issn><issn>2029-4433</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2012</creationdate><recordtype>article</recordtype><sourceid>REL</sourceid><sourceid>N95</sourceid><sourceid>DOA</sourceid><recordid>eNqFkV1rFDEUhgdRcK3-g14MeOus-d7kSkrxo1AoiF6HfJzMZpmdlCTb2n9vxqliQZDACRye9z0nebvuHKMtlUy8xwJjLJTaEoTJdtcKYc-6DUFEDYxR-rzbLMiwMC-7V6UcEGICCb7pbr7CXSyxxnns6x76nCboU-jhR4U8m6n3YGsf5x5cmtMxun7M6b7uF8bDHUzpdpG6dJprjlBedy-CmQq8ebzPuu-fPn67_DJc33y-ury4Hhwnqg5W0LYBEGONd1JYI8DDTkmPuZLEOeUACNDAlTcBeeKNVMESpjBynhNJz7qr1dcnc9C3OR5NftDJRP2rkfKoTa7RTaCJwk6CFTuLMWNAreXGSQOB7QSTjjevt6vXaBoe55BqNu4Yi9MXFCMpJGe7Rm3_QbXjoX1LmiHE1n8iePeXwJ5KnKG0UuK4r2U0p1Ke4mzFXU6lZAh_XoWRXmLWv2PWS8x6jbnJPqyyZaN8NPcpT15X8zClHLKZXSya_sfh_HEwQJr0IZ2W4JuKc4Q4_QmCnreN</recordid><startdate>20121101</startdate><enddate>20121101</enddate><creator>Nurazira Mohd Daud, Siti</creator><creator>Podivinsky, Jan M</creator><general>Vilnius Gediminas Technical University</general><general>Taylor & Francis Group</general><scope>AE2</scope><scope>BIXPP</scope><scope>REL</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>N95</scope><scope>XI7</scope><scope>DOA</scope></search><sort><creationdate>20121101</creationdate><title>Revisiting the role of external debt in economic growth of developing countries</title><author>Nurazira Mohd Daud, Siti ; Podivinsky, Jan M</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c529t-b63046e2abadc86ba6ede798d15982cc9cee2e3f59daf0d2da89fb24910cd5283</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2012</creationdate><topic>Analysis</topic><topic>Developing countries</topic><topic>Economic aspects</topic><topic>Economic growth</topic><topic>Economy</topic><topic>external debt</topic><topic>External debts</topic><topic>investment</topic><topic>spatial econometrics</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Nurazira Mohd Daud, Siti</creatorcontrib><creatorcontrib>Podivinsky, Jan M</creatorcontrib><collection>Central and Eastern European Online Library (C.E.E.O.L.) 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| source | EBSCOhost Business Source Complete; EZB-FREE-00999 freely available EZB journals; Alma/SFX Local Collection |
| subjects | Analysis Developing countries Economic aspects Economic growth Economy external debt External debts investment spatial econometrics |
| title | Revisiting the role of external debt in economic growth of developing countries |
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