How Much Is Too Much Debt for South Africa? A Threshold Nonlinear Autoregressive Distributive Lag (T-NARDL) Perspective
نویسندگان
چکیده
Since the global financial crisis, South African fiscal authorities have acquired debt at a faster rate compared to other economies, which, according recent growth theory, implies that economy has lower tolerance or threshold level than previously thought. Our study presents country-specific estimates for based on reduced form regressions derived from an endogenous model of public incorporates investment as channel through which can influence economic growth. We estimate using nonlinear autoregressive distributive lag (T-NARDL) cointegration we apply quarterly time series spanning 1960:q1 2020:q4. identify thresholds 47 percent are much those predicted by previous panel-based studies. Similarly, corresponding 2.8 is prescribed literature. However, our shows both and too high be enhancing provide policy recommendations these findings.
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ژورنال
عنوان ژورنال: Managing global transitions
سال: 2023
ISSN: ['1581-6311', '1854-6935']
DOI: https://doi.org/10.26493/1854-6935.21.93-120