Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/211163 
Year of Publication: 
2019
Series/Report no.: 
Working Paper No. 004.2019
Publisher: 
Fondazione Eni Enrico Mattei (FEEM), Milano
Abstract: 
This paper investigates the major drivers of the public debt growth in 184 countries. The underlying cross-country survey is conducted on the basis of the improved compilation of datasets on the central government debt for 2013. The study finds that oil abundance, economic growth rate, the share of mineral rent in the total revenue, interest rate payments for foreign borrowings, and being a developing country have statistically significant impact on the growth of the public debt. In contrast, defense spending, unemployment rate, and inflation rate do not have a statistically significant positive impact on the public debt rate.
Subjects: 
Public debt
Oil rent
Mineral rent
Defence spending
Developing countries
JEL: 
F21
F34
F36
G15
H6
N1
F3
Document Type: 
Working Paper

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