External Debt and Economic Growth: A Heterogeneous Static Panel Study in Asian Developing and Transition Economies

• Dawood, Muhammad ^[1] ; Biqiong, ‎ Zhang ^[2] ; Al-Asfour, Ahmed ^[3] ; Nilofar, Memoona ^[4]
  1. [1] School of Finance, Central University of Finance and Economics Beijing, China
  2. [2] International Finance, Central University of Finance and Economics, China‎
  3. [3] Workforce Development, Southern Illinois University, USA‎
  4. [4] Management Sciences, Karakoram International University, Pakistan‎

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• Localización: Estudios de economía aplicada, ISSN 1133-3197, ISSN-e 1697-5731, Vol. 39, Nº 3, 2021 (Ejemplar dedicado a: SUSTAINABLE ECONOMICS)
• Idioma: inglés
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• Resumen

  • Abstract‎This study examined the impact of total external debt, public external debt, and private external debt on economic growth of ‎Asian ‎developing and transition economies economic growth from 1995 to 2019. We ‎applied the fixed effect model with two ‎robust estimators of the feasible generalized least square estimator ‎and Driscoll-Kraay standard error estimator to address the ‎cross-sectional dependence. The findings showed that the total external debt has a significant and positive impact on economic ‎growth while the public external debt and private external debt affect economic growth adversely.  ‎