Contents of the volume

2020, Volume 73 - Issue 1

ISSN: 2499-8265
RSS feed citation: At RePEc
Publication date: 04 February 2020


Nicola Acocella

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Pascal Xavier Gnagne, Lumengo Bonga-Bonga

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Nomfundo P. Vacu, Nicholas M. Odhiambo

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Talknice Saungweme, Nicholas M. Odhiambo

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Alejandro Jacobo, Ileana R. Jalile

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Johannes Sheefeni

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Amedeo Amato

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Genoa Chamber of Commerce
Economia Internazionale / International Economics

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Corresponding author

Talknice SAUNGWEME, Department of Economics, University of South Africa, Pretoria, South Africa


Nicholas M. ODHIAMBO, Department of Economics, University of South Africa, Pretoria, South Africa

The Impact of Domestic and Foreign Public Debt on Economic Growth: Empirical Evidence from Zimbabwe




This paper applies the autoregressive distributed lag (ARDL) approach to examine the impact of public debt (domestic and foreign) on economic growth in Zimbabwe for the period from 1970 to 2017. The study adds to the ongoing debt-growth debate by testing the impact of the aggregated and disaggregated public debt on economic growth. The empirical results reveal that the impact of public debt on economic growth in Zimbabwe is negative, irrespective of whether public debt is aggregated or disaggregated, and irrespective of the type of debt – domestic or foreign. The study results further reveal that domestic public debt is more disastrous to the Zimbabwean economy than its foreign counterpart. These results are found to apply regardless of whether the regression analysis is performed in the short run or in the long run.

JEL classification

H63, O47


Public Debt, Domestic Public Debt, Foreign Public Debt, Economic Growth, Zimbabwe, ARDL


  1. Introduction
  2. Public debt and economic growth trends in Zimbabwe
  3. Review of related literature
  4. Empirical model specification, estimation techniques and data description
  5. Empirical results and analysis
  6. Concluding remarks and policy implications


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