Public debt and economic growth in Brazil
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/26922 |
Resumo: | This paper provides new evidence on the relationship between public debt and economic growth in Brazil. We used Granger causality tests, in multivariate and bivariate analyses using respectively VEC and ARDL methodologies, and monthly data over the period 1998:1-2019:11. We find that: i) debt-to-GDP and GDP growth rate have a bi-directional Granger causality relationship; ii) debt can improve growth in the short run and becomes harmful in the long run; iii) GDP growth always reduces debt, both in the short and long run; iv) the dynamic between debt and growth in the long run is influenced by the inflation rate, exchange rate and the Emerging Markets Bond Index Plus (Embi+). |
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Public debt and economic growth in BrazilGranger CausalityVector AutoregressiveAutoregressive Distributed LagGovernment DebtBrazilThis paper provides new evidence on the relationship between public debt and economic growth in Brazil. We used Granger causality tests, in multivariate and bivariate analyses using respectively VEC and ARDL methodologies, and monthly data over the period 1998:1-2019:11. We find that: i) debt-to-GDP and GDP growth rate have a bi-directional Granger causality relationship; ii) debt can improve growth in the short run and becomes harmful in the long run; iii) GDP growth always reduces debt, both in the short and long run; iv) the dynamic between debt and growth in the long run is influenced by the inflation rate, exchange rate and the Emerging Markets Bond Index Plus (Embi+).TesouroNacionalRepositório da Universidade de LisboaSilva, AgathaAfonso, AntónioGadelha, Sérgio R. de Brito2023-01-17T15:19:11Z20212021-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/26922engSilva, Agatha; António Afonso and Sérgio R. de Brito Gadelha .(2021). “Public debt and economic growth in Brazil”. Public Finance Notebooks, Vol. 20, No. 3: pp. 1-46info: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:RCAAP2023-03-06T14:56:21Zoai:www.repository.utl.pt:10400.5/26922Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:10:28.471825Repositório 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 |
Public debt and economic growth in Brazil |
title |
Public debt and economic growth in Brazil |
spellingShingle |
Public debt and economic growth in Brazil Silva, Agatha Granger Causality Vector Autoregressive Autoregressive Distributed Lag Government Debt Brazil |
title_short |
Public debt and economic growth in Brazil |
title_full |
Public debt and economic growth in Brazil |
title_fullStr |
Public debt and economic growth in Brazil |
title_full_unstemmed |
Public debt and economic growth in Brazil |
title_sort |
Public debt and economic growth in Brazil |
author |
Silva, Agatha |
author_facet |
Silva, Agatha Afonso, António Gadelha, Sérgio R. de Brito |
author_role |
author |
author2 |
Afonso, António Gadelha, Sérgio R. de Brito |
author2_role |
author author |
dc.contributor.none.fl_str_mv |
TesouroNacional Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Silva, Agatha Afonso, António Gadelha, Sérgio R. de Brito |
dc.subject.por.fl_str_mv |
Granger Causality Vector Autoregressive Autoregressive Distributed Lag Government Debt Brazil |
topic |
Granger Causality Vector Autoregressive Autoregressive Distributed Lag Government Debt Brazil |
description |
This paper provides new evidence on the relationship between public debt and economic growth in Brazil. We used Granger causality tests, in multivariate and bivariate analyses using respectively VEC and ARDL methodologies, and monthly data over the period 1998:1-2019:11. We find that: i) debt-to-GDP and GDP growth rate have a bi-directional Granger causality relationship; ii) debt can improve growth in the short run and becomes harmful in the long run; iii) GDP growth always reduces debt, both in the short and long run; iv) the dynamic between debt and growth in the long run is influenced by the inflation rate, exchange rate and the Emerging Markets Bond Index Plus (Embi+). |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021 2021-01-01T00:00:00Z 2023-01-17T15:19:11Z |
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/10400.5/26922 |
url |
http://hdl.handle.net/10400.5/26922 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Silva, Agatha; António Afonso and Sérgio R. de Brito Gadelha .(2021). “Public debt and economic growth in Brazil”. Public Finance Notebooks, Vol. 20, No. 3: pp. 1-46 |
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.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 |
repository.mail.fl_str_mv |
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1799131202229108736 |