关于新兴经济体公共债务与私人投资关系的说明

Q2 Economics, Econometrics and Finance

Buletin Ekonomi Moneter dan Perbankan Pub Date : 2022-06-20 DOI:10.21098/bemp.v25i1.1988

D. Penzin, Afees A. Salisu, B. Akanegbu

{"title":"关于新兴经济体公共债务与私人投资关系的说明","authors":"D. Penzin, Afees A. Salisu, B. Akanegbu","doi":"10.21098/bemp.v25i1.1988","DOIUrl":null,"url":null,"abstract":"We examine the effect of public debt on private investment in selected emerging economies. Using a panel threshold regression model, we estimate a threshold value of about 3 percent, on average, below which public debt stimulates private investment. Our additional analysis involving selected developed economies suggests that the crowding out effect is less evident relative to the emerging economies as higher public debt stocks do not seem to significantly undermine their private investments. These results have implications for debt sustainability and maintaining a reasonable public debt–GDP ratio is crucial for sustainable investment growth.","PeriodicalId":36737,"journal":{"name":"Buletin Ekonomi Moneter dan Perbankan","volume":" ","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2022-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":"{\"title\":\"A NOTE ON PUBLIC DEBT-PRIVATE INVESTMENT NEXUS IN EMERGING ECONOMIES\",\"authors\":\"D. Penzin, Afees A. Salisu, B. Akanegbu\",\"doi\":\"10.21098/bemp.v25i1.1988\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"We examine the effect of public debt on private investment in selected emerging economies. Using a panel threshold regression model, we estimate a threshold value of about 3 percent, on average, below which public debt stimulates private investment. Our additional analysis involving selected developed economies suggests that the crowding out effect is less evident relative to the emerging economies as higher public debt stocks do not seem to significantly undermine their private investments. These results have implications for debt sustainability and maintaining a reasonable public debt–GDP ratio is crucial for sustainable investment growth.\",\"PeriodicalId\":36737,\"journal\":{\"name\":\"Buletin Ekonomi Moneter dan Perbankan\",\"volume\":\" \",\"pages\":\"\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2022-06-20\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"3\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Buletin Ekonomi Moneter dan Perbankan\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.21098/bemp.v25i1.1988\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"Economics, Econometrics and Finance\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Buletin Ekonomi Moneter dan Perbankan","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.21098/bemp.v25i1.1988","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}

引用次数: 3

摘要

我们研究了选定新兴经济体的公共债务对私人投资的影响。使用面板阈值回归模型，我们估计阈值平均约为3%，低于该阈值，公共债务会刺激私人投资。我们对选定的发达经济体的进一步分析表明，相对于新兴经济体，挤出效应不那么明显，因为较高的公共债务存量似乎不会显著损害它们的私人投资。这些结果对债务可持续性有影响，保持合理的公共债务- gdp比率对可持续投资增长至关重要。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

A NOTE ON PUBLIC DEBT-PRIVATE INVESTMENT NEXUS IN EMERGING ECONOMIES

We examine the effect of public debt on private investment in selected emerging economies. Using a panel threshold regression model, we estimate a threshold value of about 3 percent, on average, below which public debt stimulates private investment. Our additional analysis involving selected developed economies suggests that the crowding out effect is less evident relative to the emerging economies as higher public debt stocks do not seem to significantly undermine their private investments. These results have implications for debt sustainability and maintaining a reasonable public debt–GDP ratio is crucial for sustainable investment growth.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Buletin Ekonomi Moneter dan Perbankan Economics, Econometrics and Finance-Finance

CiteScore

2.20

自引率

0.00%

发文量

审稿时长

5 weeks