From: Triggering economic growth to ensure financial stability: case study of Northern Cyprus
Author year | Method | Country | Findings |
---|---|---|---|
Beyene and Kotosz (2020) | (ARDL) Granger-causality | Ethiopia | Keynesian view valid (i.e., supports non debt neutrality) |
Saungweme and Odhiambo (2019) | (ARDL) Granger-causality | Zambia | Unidirectional causality from economic growth to public debt |
Gómez-Puig and Sosvilla-Rivero (2018) | Granger-causality test | EU | Higher public debt → lower GDP growth rate |
Matuka and Asafo (2018) | Cointegration VECM | Ghana | External debt inflows stimulate growth in both the short-run and long-run |
Donayre and Taivan (2017) | VAR/Granger-causality tests | OECD (20 countries) | Public debt ↔ low real GDP growth (socialist / capitalist economies) |
Owusu-Nantwi and Erickson (2016) | Time-series | Ghana | Public debt ↔ GDP growth rate |
Adom (2016) | Granger-causality test | Ghana | High public debt → low growth rate |
Kobayashi (2015) | Granger-causality test | Japan | High Public debt ← low real GDP growth |
Panizza and Presbitero (2014) | Endogenous growth model | OECD /20 countries | No direct relationship or causality |
Afzal 2012 | ARCH, GARCH, GARCH, and GJR-GARCH | Evidence from Pakistan and India | REH supported |
Reinhart and Rogoff (2010) | Endogenous growth model | Emerging and 44 advanced economies | No relationship or causality |
Heathcote (2005) | Time series | USA | REH not supported |
Giorgioni and holden (2003b) | Time series | G7 | Keynesian view valid |
Giorgioni and holden (2003a) | Time series | 10 countries | REH valid |
Marinherio | Euler eq | Portugal | REH not supported, Keynesian view valid |
Elemendorf and Mankiw (1999) | The non-linearity test developed by Hansen (1999) | West African Economic and Monetary Union (WAEMU) | Keynesian valid |
Wheeler (1999) | Time series | USA | REH valid |
Lucke (1998) | Time series | Germany | REH valid |
Barro (1979) | Unweighted regression | USA | REH supported |
Ricardo (1951) | Economic modelling | – | REH supported |