Public Debt, Economic Growth and Politics
Keywords:
Public Debt, Economic Growth, Politic Institutions. JEL classification, H63, N10, O43.Abstract
Can a country with serious problems of public debt increase its economic growth rate and thus stabilize or reduce its debt? In this research paper, the following hypothesis is proposed: countries cannot grow when affected by severe debt, whereby their debt will inexorably in-crease and become a permanent financial restriction that hinders economic growth. Under these conditions, indebtedness becomes a problem that demands a political solution in order to eradicate the financial restriction. Consequently, the purpose of this investigation is to offer arguments and statistical data to support the research hypothesis.
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