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Journals / MANAS Sosyal Araştırmalar Dergisi / 2020 / Cilt: 9 - Sayı: 1

External Debt and Economic Growth in Transition Countries: Case of Kyrgyzstan

Junus GANİEV
Damira BAİGONUSHOVA
Nurbek MADMAROV
Raziiakhan ABDİEVA
Pages
60–75
Publication Date
2020-01-27
DOI
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

Using quarterly data for the period 2000Q1-2017Q3 and the ARDL cointegration approach it was found that a cointegration relation between current transfers, external debt, FDI and GDP.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:In many developing countries out of shortage of savings and capital external resources as external debt, foreign direct investment and transfers are play significant role in the fostering economic growth and development.
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Key Findings & Data:Using quarterly data for the period 2000Q1-2017Q3 and the ARDL cointegration approach it was found that a cointegration relation between current transfers, external debt, FDI and GDP.
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Conclusion & Impact:It is suggested that the government should focus more on foreign direct investments than foreign debts and current transfers by considering the long term.
🔬Design:Research Article
📍Scope:Comprehensive Sample
⚙️Variables:dış borç · doğrudan yabancı yatırımlar · cari transferler

Abstract

In many developing countries out of shortage of savings and capital external resources as external debt, foreign direct investment and transfers are play significant role in the fostering economic growth and development. Goal of this paper is to investigate the impact of external public debt, current transfers and foreign direct investments on GDP in the Kyrgyz Republic. Using quarterly data for the period 2000Q1-2017Q3 and the ARDL cointegration approach it was found that a cointegration relation between current transfers, external debt, FDI and GDP. According to results, current transfers’ contribution to the country’s economy is more than government debts. It is suggested that the government should focus more on foreign direct investments than foreign debts and current transfers by considering the long term.

Özet

Birçok gelişmekte olan ülkede tasarruf ve sermaye yetersizliğinden dolayı dış borç, doğrudan yabancı yatırımlar ve transferler gibi dış kaynaklar ekonomik büyüme ve kalkınmanın desteklenmesinde önemli rol oynamaktadır. Bu çalışmanın amacı, Kırgız Cumhuriyeti’nde dış kamu borcunun, cari transferlerin ve doğrudan yabancı yatırımların GSYİH üzerindeki etkisini araştırmaktır. 2000Q1-2017Q3 dönemi çeyrek verileri ve ARDL eşbütünleşme yaklaşımı kullanılarak cari transferler, dış borç, DYY ve GSYİH arasında eşbütünleşme ilişkisi olduğu tespit edilmiştir. Sonuçlara göre, cari transferlerin ülke ekonomisine olan katkısı devlet borçlarından daha yüksektir. Hükümetin uzun vadeyi göz önünde bulundurarak dış borçlara ve cari transferlere göre doğrudan yabancı yatırımların artırılmasına daha fazla odaklanması gerektiği önerilmektedir.

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Cite This Article

GANİEV, J., BAİGONUSHOVA, D., MADMAROV, N., ABDİEVA, R. (2020). External Debt and Economic Growth in Transition Countries: Case of Kyrgyzstan. MANAS Sosyal Araştırmalar Dergisi, Cilt: 9 - Sayı: 1, 60–75. https://ajindex.com/articles/2694

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