Quản trị công, nợ nước ngoài và tăng trưởng kinh tế ở các nước đang phát triển
DOI:
https://doi.org/10.24311/jabes/2017.28.12.808Keywords:
Governance, External debt, Economic growthAbstract
This paper uses the two-step difference GMM Arellano-Bond estimator to empirically investigate the effects of governance, external debt, and their interaction term on economic growth in 65 developing countries over the 2000–2014 period. The results show that governance stimulates growth while external debt and interaction term reduce it in the whole sample and the sub-sample of upper middle-income countries. Contrarily, external debt and interaction term promote growth whilst governance is detrimental to it in the sub-sample of lower middle-income countries. In addition, domestic investment, tax revenue, labor force, trade openness, inflation, and infrastructure are the significant determinants of growth. These findings suggest important policy implications for governments in developing countries.
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