Impact of public and private sector external debt on economic growth

Detalhes bibliográficos
Autor(a) principal: Silva, Jorge
Data de Publicação: 2018
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/16001
Resumo: We assess the effect of the Portuguese external debt of the private and public sectors on economic growth for the period 1999-2014. We study the channels through which external debt may affect economic growth: demand, supply and external accounts. Regarding aggregate demand, we evaluated private saving, public investment in volume and real GDP per person employed. The external debt of the public sector showed some evidence of having a detrimental influence on private saving, but a favourable effect on public investment in volume. The gross external debt of the private sector positively influenced public investment. Concerning aggregate supply, we analysed the production function per person employed in the private sector. Private external debt positively affected the gross value added in volume per person employed. Public external debt negatively impacted the gross value added in volume per person employed and the total factor productivity. Regarding external accounts, the private external debt affected the primary income account, though it had a low coefficient.
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spelling Impact of public and private sector external debt on economic growthexternal debteconomic growthpublic sectorprivate sectorPortugalWe assess the effect of the Portuguese external debt of the private and public sectors on economic growth for the period 1999-2014. We study the channels through which external debt may affect economic growth: demand, supply and external accounts. Regarding aggregate demand, we evaluated private saving, public investment in volume and real GDP per person employed. The external debt of the public sector showed some evidence of having a detrimental influence on private saving, but a favourable effect on public investment in volume. The gross external debt of the private sector positively influenced public investment. Concerning aggregate supply, we analysed the production function per person employed in the private sector. Private external debt positively affected the gross value added in volume per person employed. Public external debt negatively impacted the gross value added in volume per person employed and the total factor productivity. Regarding external accounts, the private external debt affected the primary income account, though it had a low coefficient.ISEG - REM - Research in Economics and MathematicsRepositório da Universidade de LisboaSilva, Jorge2018-09-28T13:51:11Z2018-012018-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/16001engSilva, Jorge (2018). "Impact of public and private sector external debt on economic growth". Instituto Superior de Economia e Gestão – REM Working papers nº 024 - 20182184-108Xinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:45:52Zoai:www.repository.utl.pt:10400.5/16001Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:01:30.843879Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Impact of public and private sector external debt on economic growth
title Impact of public and private sector external debt on economic growth
spellingShingle Impact of public and private sector external debt on economic growth
Silva, Jorge
external debt
economic growth
public sector
private sector
Portugal
title_short Impact of public and private sector external debt on economic growth
title_full Impact of public and private sector external debt on economic growth
title_fullStr Impact of public and private sector external debt on economic growth
title_full_unstemmed Impact of public and private sector external debt on economic growth
title_sort Impact of public and private sector external debt on economic growth
author Silva, Jorge
author_facet Silva, Jorge
author_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Silva, Jorge
dc.subject.por.fl_str_mv external debt
economic growth
public sector
private sector
Portugal
topic external debt
economic growth
public sector
private sector
Portugal
description We assess the effect of the Portuguese external debt of the private and public sectors on economic growth for the period 1999-2014. We study the channels through which external debt may affect economic growth: demand, supply and external accounts. Regarding aggregate demand, we evaluated private saving, public investment in volume and real GDP per person employed. The external debt of the public sector showed some evidence of having a detrimental influence on private saving, but a favourable effect on public investment in volume. The gross external debt of the private sector positively influenced public investment. Concerning aggregate supply, we analysed the production function per person employed in the private sector. Private external debt positively affected the gross value added in volume per person employed. Public external debt negatively impacted the gross value added in volume per person employed and the total factor productivity. Regarding external accounts, the private external debt affected the primary income account, though it had a low coefficient.
publishDate 2018
dc.date.none.fl_str_mv 2018-09-28T13:51:11Z
2018-01
2018-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/16001
url http://hdl.handle.net/10400.5/16001
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Silva, Jorge (2018). "Impact of public and private sector external debt on economic growth". Instituto Superior de Economia e Gestão – REM Working papers nº 024 - 2018
2184-108X
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv ISEG - REM - Research in Economics and Mathematics
publisher.none.fl_str_mv ISEG - REM - Research in Economics and Mathematics
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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