Overview
- Demonstrates how public debt shows feedback effects affecting economic growth and welfare
- Gives insights into the sustainability of public debt in developed and developing countries
- Reveals policy implications for governments with high public debt to GDP ratios
- Includes supplementary material: sn.pub/extras
Part of the book series: Dynamic Modeling and Econometrics in Economics and Finance (DMEF, volume 11)
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Table of contents (6 chapters)
Keywords
About this book
Starting point of this book is the observation that an increase in public debt must be accompanied by a rise in the primary surplus of the government to guarantee sustainability of public debt. The book first elaborates on that principle from a theoretical point of view and then tests whether empirical evidence for that rule can be found. Additional tests are implemented to gain further evidence on sustainability of public debt. In order to allow for time varying coefficients penalized spline estimations are performed. The theoretical chapters present endogenous growth models and assume that the primary surplus rises as public debt increases so that sustainability of public debt is given. Implications of public deficits and debt are studied assuming full employment and for unemployment. The conclusion summarizes the findings and compares the results of the different models. Finally, policy implications are given showing how governments should deal with high public debt to GDP ratios.
Authors and Affiliations
Bibliographic Information
Book Title: Public Debt and Economic Growth
Authors: Alfred Greiner, Bettina Fincke
Series Title: Dynamic Modeling and Econometrics in Economics and Finance
DOI: https://doi.org/10.1007/978-3-642-01745-2
Publisher: Springer Berlin, Heidelberg
eBook Packages: Business and Economics, Economics and Finance (R0)
Copyright Information: Springer-Verlag Berlin Heidelberg 2009
Hardcover ISBN: 978-3-642-01744-5Published: 04 August 2009
Softcover ISBN: 978-3-642-26924-0Published: 14 March 2012
eBook ISBN: 978-3-642-01745-2Published: 24 July 2009
Series ISSN: 1566-0419
Series E-ISSN: 2363-8370
Edition Number: 1
Number of Pages: VIII, 144
Number of Illustrations: 60 b/w illustrations
Topics: Environmental Economics, Macroeconomics/Monetary Economics//Financial Economics, Public Economics, Economic Growth, Development Economics