Dergiler / Reforma / 2022 / Sayı: 94
THE IMPACT OF PUBLIC EXTERNAL DEBT ON ECONOMIC GROWTH IN THE EURASIAN ECONOMIC UNION COUNTRIES
- Dergi
- Reforma
- Sayı
- 2022 · Sayı: 94
- Sayfa
- 24–36
- DOI
- —
Özet
This study provides econometric analysis based on theoretical and empirical studies on the impact of public external debt of the Eurasian Economic Union (EAEU) countries on economic growth. First, cross-sectional dependence is studied by a CD test developed by Pesaran (2004) using annual data from 1994-2020. Then, the CADF unit root test, developed by Pesaran (2007), one of the unit root tests that takes into account cross-sectional dependence, is used to verify that the series are stationary. The cointegration relationship between the variables is determined by the panel cointegration test Persyn, D. and Westerlund J. (2008).
Abstract
This study provides econometric analysis based on theoretical and empirical studies on the impact of public external debt of the Eurasian Economic Union (EAEU) countries on economic growth. First, cross-sectional dependence is studied by a CD test developed by Pesaran (2004) using annual data from 1994-2020. Then, the CADF unit root test, developed by Pesaran (2007), one of the unit root tests that takes into account cross-sectional dependence, is used to verify that the series are stationary. The cointegration relationship between the variables is determined by the panel cointegration test Persyn, D. and Westerlund J. (2008).