Public debt and economic growth: a review of contemporary literature
Authors: Stamatopoulos, Theodoros 
Filippakis, Nikolaos 
Issue Date: 1-Mar-2021
Journal: South-Eastern Europe Journal of Economics 
Volume: 19
Issue: 1
Keywords: Public debt, Economic growth, Financial crises, Causality, Threshold hypothesis, Secular stagnation
Abstract: 
This article reviews the most important contributions to literature on “public debt-economic growth” relationship. Most relevant studies are empirical. Some of them are based on causality tests, albeit with no clear conclusion as to what the causes and what the effects are. We also indicate important gaps, which have not been considered and these are either periods of economic crises or “secular stagnation” phenomena. We suggest that policy makers and investors should reconsider not only the so-called 90%“threshold hypothesis” but also the causality itself, because there is no necessary theoretical consensus so far.
ISSN: 1792-3115
URI: https://uniwacris.uniwa.gr/handle/3000/1221
Type: Article
Department: Department of Accounting and Finance 
School: School of Administrative, Economics and Social Sciences 
Affiliation: University of West Attica (UNIWA) 
Appears in Collections:Articles / Άρθρα

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