On the relation between public debt and economic growth: An empirical investigation

Fincke B, Greiner A (2013) Working Papers in Economics and Management; 24-2013.
Bielefeld: Bielefeld University, Department of Business Administration and Economics.

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In this paper we empirically study the relation between public debt and economic growth. We analyze how the public debt to GDP ratio at a certain point in time is correlated with the GDP growth rate in the following period, where we consider a one-year time span, a three-years time interval and a five-years interval. Using panel data comprising seven developed countries from 1970-2012, we estimate a pooled regression model and a random effects model. We find strong evidence for a significantly negative relation between debt and growth. Further, for most specifications this relationship does not seem to be characterized by non-linearities.
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Fincke B, Greiner A. On the relation between public debt and economic growth: An empirical investigation. Working Papers in Economics and Management. Vol 24-2013. Bielefeld: Bielefeld University, Department of Business Administration and Economics; 2013.
Fincke, B., & Greiner, A. (2013). On the relation between public debt and economic growth: An empirical investigation (Working Papers in Economics and Management, 24-2013). Bielefeld: Bielefeld University, Department of Business Administration and Economics. doi:10.4119/unibi/2915436
Fincke, B., and Greiner, A. (2013). On the relation between public debt and economic growth: An empirical investigation. Working Papers in Economics and Management, 24-2013, Bielefeld: Bielefeld University, Department of Business Administration and Economics.
Fincke, B., & Greiner, A., 2013. On the relation between public debt and economic growth: An empirical investigation, Working Papers in Economics and Management, no.24-2013, Bielefeld: Bielefeld University, Department of Business Administration and Economics.
B. Fincke and A. Greiner, On the relation between public debt and economic growth: An empirical investigation, Working Papers in Economics and Management, vol. 24-2013, Bielefeld: Bielefeld University, Department of Business Administration and Economics, 2013.
Fincke, B., Greiner, A.: On the relation between public debt and economic growth: An empirical investigation. Working Papers in Economics and Management, 24-2013. Bielefeld University, Department of Business Administration and Economics, Bielefeld (2013).
Fincke, Bettina, and Greiner, Alfred. On the relation between public debt and economic growth: An empirical investigation. Bielefeld: Bielefeld University, Department of Business Administration and Economics, 2013. Working Papers in Economics and Management. 24-2013.
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