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Volume :20 Issue : 2 2013      Add To Cart                                                                    Download

The Existence of Relationship between Debt and Recession

Auther : Fawzan A. AlFawzan

This paper examines the causal relationship between recession and debt by using Gross Domestic Product (GDP) and four debt indicators. Co-integration and Vector Error Correction Model (VECM) methods were implemented. The co-integration test suggests along run relationship between GDP and all debt indicators. The error correction coefficients in the Vector Error Correction Model (VECM) indicate that there is a bi-directional causality between every debt variable and GDP in the long run. The finding is consistent with the debt-recession hypothesis.

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Nov 19, 2019

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