Impact of External Debt on Economic Growth of Iran: A Markov-Switching Approach

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Falahi Firouz; ASGHARPOUR HOSSEIN; Ahmadian Pirouz Kasra

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Journal: Financial Economics Year:2019 | Volume:13 | Issue:46 Page(s): 183-216

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Information Journal Paper

Title

Impact of External Debt on Economic Growth of Iran: A Markov-Switching Approach

Author(s)

Falahi Firouz | ASGHARPOUR HOSSEIN | Ahmadian Pirouz Kasra | Issue Writer Certificate

Keywords

:External DebtQ1

Economic GrowthQ2

IranQ1

Markov Switching JEL Classification:C32Q2

F33Q2

F34Q2

Abstract

Today, the major reason for external debt is to ﬁ nance high public deﬁ cits and development plans. This paper examines the impact of external debt on Economic Growth in Iran over the period 1980– 2016, based on a Markov-Switching approach. Flexibility is the main advantage of this method. In this study after examining impact of external debt on growth, we separate external debt to public sector debt and private sector debt. The results show that external debt has a negative impact on growth in both regimes. The results also indicate that private external debt has a positive effect and public external debt has a negative effect on Economic Growth. So, the negative effect of external debt is because of negative effect of public debt.

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APA: Copy

Falahi, Firouz, ASGHARPOUR, HOSSEIN, & Ahmadian Pirouz, Kasra. (2019). Impact of External Debt on Economic Growth of Iran: A Markov-Switching Approach. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), 13(46 ), 183-216. SID. https://sid.ir/paper/229207/en

Vancouver: Copy

Falahi Firouz, ASGHARPOUR HOSSEIN, Ahmadian Pirouz Kasra. Impact of External Debt on Economic Growth of Iran: A Markov-Switching Approach. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT)[Internet]. 2019;13(46 ):183-216. Available from: https://sid.ir/paper/229207/en

IEEE: Copy

Firouz Falahi, HOSSEIN ASGHARPOUR, and Kasra Ahmadian Pirouz, “Impact of External Debt on Economic Growth of Iran: A Markov-Switching Approach,” JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), vol. 13, no. 46 , pp. 183–216, 2019, [Online]. Available: https://sid.ir/paper/229207/en

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