政府债务对劳动生产率是好是坏?1972-2019年动态面板分析

Gianni Carvelli, Carmine Trecroci
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引用次数: 0

摘要

在本文中,我们对公共债务与经济增长之间的关系提供了新的见解,重点关注债务的增长而不是其水平。通过利用1972-2019年期间75个国家(37个经合组织国家和38个非经合组织国家)更新的宏观经济时间序列,并使用系统- gmm技术,我们估计了人均公共债务增长对劳动生产率增长的影响。我们发现证据表明,人均公共债务的增长对劳动生产率的增长有显著的不利影响,正如人均产出的增长所代表的那样。当我们考虑人均公共债务的增长和每工作小时实际GDP的增长时,也会出现类似的结果。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Is Government Debt Good or Bad for Labor Productivity? A Dynamic Panel Analysis Over 1972-2019
In this paper we provide new insights on the nexus between public debt and economic growth, focusing on the growth of debt rather than its level. By exploiting updated macroeconomic time series for 75 countries (37 OECD and 38 non-OECD) over the period 1972-2019 and using the system-GMM technique, we estimate the impact of the growth of public debt per worker on labor productivity growth. We find evidence of a significant adverse effect of the growth of public debt per worker on labor productivity growth, as proxied by the growth of output per worker. Similar results arise when we consider the growth of public debt per capita and the growth of real GDP per hours worked.
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