Debt and currency value during COVID-19 in the Global South

IF 1 Q3 ECONOMICS

ECONOMIC AFFAIRS Pub Date : 2023-07-09 DOI:10.1111/ecaf.12581

Behrooz Gharleghi

引用次数: 0

Abstract

The aim of this article is to examine debt and currency vulnerability during economic turbulence in the Global South. A panel data analysis is performed on a panel of 25 economies consisting of nine developed and 16 developing countries with a focus on public and private debt. The empirical findings reveal that only public debt build-up has an adverse effect on currency value. There is no evidence of a significant impact of recession periods on currency value for both private and public debt estimations. I also found that private debt build-up can be more harmful than public debt in developing countries. In addition, both public and private debt have increased as percentages of GDP during COVID-19.

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全球南方新冠肺炎期间的债务和货币价值

本文的目的是研究全球南方经济动荡期间的债务和货币脆弱性。对由9个发达国家和16个发展中国家组成的25个经济体小组进行了小组数据分析，重点关注公共和私人债务。实证结果表明，只有公共债务积累才会对货币价值产生不利影响。没有证据表明衰退期对私人和公共债务估计的货币价值有重大影响。我还发现，在发展中国家，私人债务的积累可能比公共债务更有害。此外，在新冠肺炎期间，公共和私人债务占国内生产总值的百分比都有所增加。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

ECONOMIC AFFAIRS ECONOMICS-

CiteScore

1.40

自引率

14.30%

发文量

期刊介绍： Economic Affairs is a journal for those interested in the application of economic principles to practical affairs. It aims to stimulate debate on economic and social problems by asking its authors, while analysing complex issues, to make their analysis and conclusions accessible to a wide audience. Each issue has a theme on which the main articles focus, providing a succinct and up-to-date review of a particular field of applied economics. Themes in 2008 included: New Perspectives on the Economics and Politics of Ageing, Housing for the Poor: the Role of Government, The Economic Analysis of Institutions, and Healthcare: State Failure. Academics are also invited to submit additional articles on subjects related to the coverage of the journal. There is section of double blind refereed articles and a section for shorter pieces that are reviewed by our Editorial Board (Economic Viewpoints). Please contact the editor for full submission details for both sections.