外债的经济增长效应与影响渠道——发达国家和发展中国家比较被引量：10

External Debt,Economic Growth and the Influence

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摘要通过搜集包括107个国家1960~2010年的跨国面板数据集，采用系统广义矩方法估计，研究外债对经济增长的影响以及作用渠道。研究发现：总体上，外债对经济增长、投资增长以及全要素生产率均有显著的倒“U”形影响；发达国家的外债对经济增长的影响是负的，外债扩张可以促进投资增长，但同时会降低投资效率；发展中国家的外债对经济增长有显著的倒“U”形影响，对投资增长的影响也是倒“U”形的，而对全要素生产率的影响则不显著。 This paper compares the differences between developed and developing coun- tries in economic growth effects of external debt and the role of channels using a cross-coun- try data set. It finds that： the impact of external debt on economic growth, investment growth and total factor productivity are all inverted U-shaped; in developed countries, ex- ternal debt has negative effect on economic growth due to misallocation of resources, on the contrary, it facilitates investment growth; in developing countries, the influence of exter- nal debt on economic growth and investment growth are significantly inverted U-shaped, but the impact on total factor productivity is not significant.

作者程宇丹龚六堂

机构地区北京大学光华管理学院

出处《数量经济技术经济研究》 CSSCI 北大核心 2015年第10期108-123,共16页 Journal of Quantitative & Technological Economics

关键词外债经济增长影响渠道 External Debt Economic Growth Influence Channel

分类号 F811 [经济管理—财政学]

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