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Titel
Does it pay to fulfill the Maastricht convergence criteria? : reflections on the public debt and growth nexus for selected European economies / Bettina Bökemeier, Christiane Clemens
VerfasserBökemeier, Bettina ; Clemens, Christiane
ErschienenBielefeld, Germany : Universität Bielefeld, Faculty of Business Administration and Economics, October 2016
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (14 Seiten) : Diagramme
SerieWorking papers in economics and management ; No. 10-2016
SchlagwörterEuropäische Union / Eurozone / Wirtschaftswachstum / Finanzpolitik / Volkswirtschaft / Öffentliche Schulden
URNurn:nbn:de:hbz:6:2-127938 
DOI10.4119/unibi/2915608 
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Does it pay to fulfill the Maastricht convergence criteria? [0.46 mb]
Zusammenfassung

This paper empirically studies whether it pays off (in terms of economic growth) to fulfill the convergence criteria on the public budget and participation in the Euro- zone. The analysis is based on data of European economies with a special focus on twelve Euro-zone members and a control group of six non-Euro countries for the years from 1970 to 2014. The results show that growth is higher if the debt to GDP ratio is below 60 % compared to values above it. Moreover, a comparison with European economies outside the Euro-zone shows higher growth values for Euro-members than for the control group. Regression estimations reveal a negative relationship between the two variables for the Euro-group. For the control group the relationship is not statistically significant.

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