Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/331175 
Year of Publication: 
2024
Citation: 
[Journal:] Research in Globalization [ISSN:] 2590-051X [Volume:] 9 [Article No.:] 100248 [Year:] 2024 [Pages:] 1-10
Publisher: 
Elsevier, Amsterdam
Abstract: 
This article empirically examines the impact of external debt on economic growth in emerging economies from 1990 to 2022, considering the effects of globalization. Using a deductive methodology that combines a comprehensive literature review with econometric analysis, particularly a fixed-effects panel model, the results reveal a nonlinear relationship between external debt and economic growth. Although an increase in the stock of external debt initially stimulates growth, excessive debt accumulation leads to diminishing returns and negative effects on growth. These results underscore the importance of prudent debt management, especially in the context of globalization, where emerging economies are more exposed to external shocks.
Subjects: 
External debt
Economic growth
Emerging economies
Globalization
Panel model
Non-linear relationship
Debt overhang
JEL: 
F34
F43
O11
O40
O47
C33
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc Logo
Document Type: 
Article

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