Panizza, Ugo, Presbitero, Andrea.
Are high levels of public debt harmful for economic growth? The very public Rogoff-Reinhart kerfuffle has focused on what is not true. This column reviews the evidence on what is true. It suggests that the debt-growth link is more complex than commonly thought. While there is evidence that public debt is negatively correlated with economic growth, there is no study that makes a strong case for a causal relationship going from debt to growth.
Πηγή: Voxeu