Southern Europe and the Frugal Four : Structural External Over-Indebtedness?
This research uses linear regression and time-series analysis to examine the external debt of the GIPS countries, Ireland, and the United States, and finds that a significant portion of this debt cannot be explained by current account deficits and changes in total reserves. The results of this study contribute to the existing literature on debt-led economic growth and suggest that the external debt of the GIPS, Ireland, and the United States is significantly higher than can be justified by traditional factors. Additionally, the study finds that the external debt of the "Frugal Four" countries is higher than can be explained by current account and reserves analysis, suggesting that a country’s over-indebtedness is structural in nature rather than being due to behavioural or cultural factors
Year of publication: |
[2023]
|
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Authors: | Carrera, Andrea ; Cárdenas, Luis ; Arribas Martínez, Víctor |
Publisher: |
[S.l.] : SSRN |
Saved in:
freely available
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