文章基本信息

标题：The relationship between external debt and economic growth:empirical evidence from Ukraine and other emerging economies
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作者：Inna Shkolnyk ; Viktoriia Koilo
期刊名称：Investment Management & Financial Innovations
印刷版ISSN：1810-4967
电子版ISSN：1812-9358
出版年度：2018
卷号：15
期号：1
页码：387-400
DOI：10.21511/imfi.15(1).2018.32
语种：English
出版社：LLC “Consulting Publishing Company “Business Perspectives”
摘要：The article examines the relationship between external debt and economic growth in emerging economies for the period 2006‒2016.The authors used different econometric tools,e.g.,ADL model and correlation analysis.The regression results showed that the original values had no significant impact on the estimation of the parameters.Thus, there was made an assumption that emerging economies have a non-linear impact on macroeconomic parameters,including external debt that has a non-linear type of in?fluence on economic growth.The authors established that high level of external debt,in conjunction with macroeconomic instability,impedes economic growth in such coun?tries.The regression model also showed that there is a critical level of debt burden for emerging economies,where the marginal impact of external debt on economic growth becomes negative. The results of the study highlighted the significance of the problem of effective public debt management strategy implementation in Ukraine.This issue is predetermined by the appropriate organizational support.The study recommends improving a public external debt management model.In this paper,the authors proposed a new structure with the participation of new element – independent agencies.The unified external debt management system should integrate all state institutions and executive power structures in this area.
关键词：public external debt;public domestic debt;economic growth;public debt management;ADL model