Public external debt and economic growth in Tunisia
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Jun 15, 2023
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Abstract
The relationship between public external debt and the economic growth of a country is still a subject of significant interest and controversy for researchers.
This article focuses on the issue of the effect of the management of the external debt of developing countries on macroeconomic aggregates. The objective is to conduct an in-depth study of the issue of foreign debt carried out by Tunisia and to know its effects on the economy, notably economic growth in long-term. Using a simple methodological approach, VAR techniques were used to reach the aim of the study over the period 2000-2019.
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Keywords
External public debtVAReconomic growthTunisia
References
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• El-Mahdy, A. M. and Torayeh, N. M. (2009). Debt sustainability and economic growth in Egypt. International journal of Applied Econometrics and quantitative studies, 6(1), 21-55.
• Emmanuel, O. O. (2012). An empirical analysis of the impact of public debt on economic growth: Evidence from Nigeria 1975-2005. Canadian Social Science, 8(4), 154-161.
• ES-Sounboula, H. and HEfnaoui A, (2019). La dette extérieure publique et son effet sur la croissance économique Marocaine étude économétrique. Revue du contrôle, de la comptabilité et de l’audit, 3(2).
• Greene W, (2011). Econométrie, Paris, Pearson, 7 édition francophone dirigée par Schlacther D; P.988.
• Gürbüz. B. and Raffinot, M. (2001. Dette publique et investissements privés: le cas de la Turquie, Economie Internationale. CEPII research center, issue 86; p 125.
• Khodjet El Khil, M. (2013). La dette extérieure de la Tunisie 1970 – 2011. Part I : Du Mensonge à la vérité. Nawaat (blog) 26 février 2013.
• Kumar, M. and Woo, J. (2010). Public debt and growth ». IMF Working paper, WP/10/174.
• Mencinger, J., Aristovnik, A. and Verbic, M. (2014). The impact of growing public debt on economic growth in the European Union. Amfiteatru Economic Journal, 16(35), 403-414.
• Mill, J. S. (1862). Le gouvernement représentatif. Guillaumin.
• Nguyen, T. Q., Clements, B. J., and Bhattacharya, R. (2005). L’allégement de la dette peut-il doper la croissance des pauvres? In L’allégement de la dette peut-il doper la croissance des pauvres? International Monetary Fund.
• Patillo C., L. Ricci and H. Poirson (2002). External Debt and Growth. IMF Working Paper, no 02/ 69.
• Reinhart, C. M. and Rogoff, K. S. (2009). This time is different. In This Time Is Different. Princeton university press.
• Ricardo, D. (1992). Le meilleur moyen de fournir aux dépenses publiques. Revue française d'économie, 7(2), 117-124.
• Rubio, M. O., Ojeda, J. J. and Montes, U. E., (2003), Deuda externa, inversión y crecimiento en Colombia, 1970- 2002, Borradores de Economía n°272. Banco de la República de Colombia.
• Salah Eddine, E., Ilyas, L. and Janato M. (2018), Les effets de la politique budgétaire sur la dynamique de l’activité économique au Maroc : Une analyse économétrique en modèle SVAR, Revue du Contrôle de la Comptabilité et de l’Audit, ISSN : 2550-469X;
• Savvides, A. (1992), Investment Slowdown in Developing Countries during the 1980s: Debt Overhang or Foreign Capital Inflows? Kyklos, 45, 363-378
• Smith, A. (1881). Recherches sur la nature et les causes de la richesse des nations, Vol. 1,
• Sims, C. A. (1980). Macroeconomics and reality. Econometrica: journal of the Econometric Society, 1-48.
• Ahmed HACHICHA, PhD, Full Professor specializing in Economic Sciences. He is a researcher in LED Laboratory at Faculty of Economics and Management at the University of Sfax. He is also an academic teacher at High School of Business of Sfax at the University of Sfax Tunisia. Throughout his career, Dr. HACHICHA he has held several administrative positions such as the director of studies and the director of High School of Business of Sfax. He has published numerous articles in reputable academic journals, shedding light on critical issues in economy. His research addresses topics such as macroeconomics, political economics, monetary and financial macroeconomics and sociopolitical news. His work has been widely cited and has influenced both academic theory and professional practice.
• Aya KAHRI, PhD student in LED Laboratory at Faculty of Economics and Management at the University of Sfax.
• Amal GHORBEL, PhD student in LED Laboratory at Faculty of Economics and Management at the University of Sfax.
• El-Mahdy, A. M. and Torayeh, N. M. (2009). Debt sustainability and economic growth in Egypt. International journal of Applied Econometrics and quantitative studies, 6(1), 21-55.
• Emmanuel, O. O. (2012). An empirical analysis of the impact of public debt on economic growth: Evidence from Nigeria 1975-2005. Canadian Social Science, 8(4), 154-161.
• ES-Sounboula, H. and HEfnaoui A, (2019). La dette extérieure publique et son effet sur la croissance économique Marocaine étude économétrique. Revue du contrôle, de la comptabilité et de l’audit, 3(2).
• Greene W, (2011). Econométrie, Paris, Pearson, 7 édition francophone dirigée par Schlacther D; P.988.
• Gürbüz. B. and Raffinot, M. (2001. Dette publique et investissements privés: le cas de la Turquie, Economie Internationale. CEPII research center, issue 86; p 125.
• Khodjet El Khil, M. (2013). La dette extérieure de la Tunisie 1970 – 2011. Part I : Du Mensonge à la vérité. Nawaat (blog) 26 février 2013.
• Kumar, M. and Woo, J. (2010). Public debt and growth ». IMF Working paper, WP/10/174.
• Mencinger, J., Aristovnik, A. and Verbic, M. (2014). The impact of growing public debt on economic growth in the European Union. Amfiteatru Economic Journal, 16(35), 403-414.
• Mill, J. S. (1862). Le gouvernement représentatif. Guillaumin.
• Nguyen, T. Q., Clements, B. J., and Bhattacharya, R. (2005). L’allégement de la dette peut-il doper la croissance des pauvres? In L’allégement de la dette peut-il doper la croissance des pauvres? International Monetary Fund.
• Patillo C., L. Ricci and H. Poirson (2002). External Debt and Growth. IMF Working Paper, no 02/ 69.
• Reinhart, C. M. and Rogoff, K. S. (2009). This time is different. In This Time Is Different. Princeton university press.
• Ricardo, D. (1992). Le meilleur moyen de fournir aux dépenses publiques. Revue française d'économie, 7(2), 117-124.
• Rubio, M. O., Ojeda, J. J. and Montes, U. E., (2003), Deuda externa, inversión y crecimiento en Colombia, 1970- 2002, Borradores de Economía n°272. Banco de la República de Colombia.
• Salah Eddine, E., Ilyas, L. and Janato M. (2018), Les effets de la politique budgétaire sur la dynamique de l’activité économique au Maroc : Une analyse économétrique en modèle SVAR, Revue du Contrôle de la Comptabilité et de l’Audit, ISSN : 2550-469X;
• Savvides, A. (1992), Investment Slowdown in Developing Countries during the 1980s: Debt Overhang or Foreign Capital Inflows? Kyklos, 45, 363-378
• Smith, A. (1881). Recherches sur la nature et les causes de la richesse des nations, Vol. 1,
• Sims, C. A. (1980). Macroeconomics and reality. Econometrica: journal of the Econometric Society, 1-48.
• Ahmed HACHICHA, PhD, Full Professor specializing in Economic Sciences. He is a researcher in LED Laboratory at Faculty of Economics and Management at the University of Sfax. He is also an academic teacher at High School of Business of Sfax at the University of Sfax Tunisia. Throughout his career, Dr. HACHICHA he has held several administrative positions such as the director of studies and the director of High School of Business of Sfax. He has published numerous articles in reputable academic journals, shedding light on critical issues in economy. His research addresses topics such as macroeconomics, political economics, monetary and financial macroeconomics and sociopolitical news. His work has been widely cited and has influenced both academic theory and professional practice.
• Aya KAHRI, PhD student in LED Laboratory at Faculty of Economics and Management at the University of Sfax.
• Amal GHORBEL, PhD student in LED Laboratory at Faculty of Economics and Management at the University of Sfax.
How to Cite
Aya, Kahri, Hachicha Ahmed, and Ghorbel Amal. 2023. “Public External Debt and Economic Growth in Tunisia”. Studies in Business and Economics 26 (1):80-99. https://doi.org/10.29117/sbe.2023.0142.
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Articles