Égert, Balázs - Economics Department, Organisation de Coopération et … - 2013
test to pin down debt thresholds endogenously. We show that the nonlinear relation from debt to growth is not very robust …. Taken with a pinch of salt, our results suggest, however, that a negative association between debt and growth may set in at … debt levels as low as 20% of GDP. Further (and greater) thresholds may exist but their magnitude is highly uncertain. For …