{"id":1461,"date":"2014-01-29T23:06:53","date_gmt":"2014-01-29T23:06:53","guid":{"rendered":"http:\/\/kepe.webnut.gr\/2014\/01\/29\/115-t-efthimiadis-and-p-tsintzos-the-share-of-external-debt-and-economic-growth-2011\/"},"modified":"2014-01-29T23:06:53","modified_gmt":"2014-01-29T23:06:53","slug":"115-t-efthimiadis-and-p-tsintzos-the-share-of-external-debt-and-economic-growth-2011","status":"publish","type":"post","link":"https:\/\/www.kepe.gr\/en\/research\/recent-publications\/discussion-papers\/115-t-efthimiadis-and-p-tsintzos-the-share-of-external-debt-and-economic-growth-2011\/","title":{"rendered":"No. 115. THE SHARE OF EXTERNAL DEBT AND ECONOMIC GROWTH"},"content":{"rendered":"<p style=\"text-align: justify;\">T. Efthimiadis, P. Tsintzos. 2011.<\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify;\">&nbsp;<\/p>\n<p style=\"text-align: justify;\">In this paper we examine the e\u000bects of the share of external public debt on&nbsp;a country&#8217;s economic growth. These e\u000bects are examined through a competitive,&nbsp;decentralised model of endogenous economic growth, which relies on public investments.&nbsp;Our \fndings show that as the internal-external public debt ratio increases,&nbsp;the public to private capital ratio increases which in turn positively a\u000bects the long&nbsp;run economic growth rate. The main conclusion of this paper is that the out ow of&nbsp;domestic capital which is needed to service external debt has unfavourable repercussions&nbsp;on an economy&#8217;s long run steady state growth rate.<\/p>\n<p style=\"text-align: justify;\">&nbsp;<\/p>\n<p style=\"text-align: justify;\">(<a href=\"https:\/\/www.kepe.gr\/wp-content\/uploads\/2013\/10\/115-full.pdf\" target=\"_blank\" rel=\"noopener\">pdf<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>T. Efthimiadis, P. Tsintzos. 2011.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[97],"tags":[],"class_list":["post-1461","post","type-post","status-publish","format-standard","hentry","category-discussion-papers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>No. 115. 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