Table 7. Public debt and economic... | Emerald Publishing

Table 7.

Public debt and economic growth: robustness checks model

NDAC	NDEC
Model 5: Macroprudential policy regime	Model 6: Macroprudential policy regime
Growth2 = 5.50PUCDT − 2.18IMFIN − 3.33IMFDTI* + 3.74TRP − 1.00INFL − 3.19GEXP + 2.00EMSS + 2.64TRM − 1.78PG − 2.77FRP** [ ${19.02}_{γ}^{* }, 64, 77_{C}^{ * }]$ − 6.00PUCDT* − 3.80IMFIN** − 5.20IMFDTI* + 2.00TRP − 2.40INFL − 2.00GEXP + 3.99EMSS + 2.44TRM − 2.12PG − 3.00FRP**	Growth2 = 4.00PUCDT + 3.00IMFIN + 2.12IMFDTI* + 4.88TRP − 2.10INFL + 2.100GEXP + 1.60EMSS + 2.52TRM + 2.00PG − 1.40FRP** [ ${14.02}_{γ}^{* }, 71, 00_{C}^{ * }]$ − 5.20PUCDT* + 2.43IMFIN** + 2.33IMFDTI* + 1.99TRP − 1.55INFL + 2.88GEXP + 2.22EMSS + 2.33TRM − 1.12PG − 2.87FRP**

NDAC	NDEC
Model 5: Macroprudential policy regime	Model 6: Macroprudential policy regime
Growth2 = 5.50PUCDT − 2.18IMFIN − 3.33IMFDTI* + 3.74TRP − 1.00INFL − 3.19GEXP + 2.00EMSS + 2.64TRM − 1.78PG − 2.77FRP** [ ${19.02}_{γ}^{* }, 64, 77_{C}^{ * }]$ − 6.00PUCDT* − 3.80IMFIN** − 5.20IMFDTI* + 2.00TRP − 2.40INFL − 2.00GEXP + 3.99EMSS + 2.44TRM − 2.12PG − 3.00FRP**	Growth2 = 4.00PUCDT + 3.00IMFIN + 2.12IMFDTI* + 4.88TRP − 2.10INFL + 2.100GEXP + 1.60EMSS + 2.52TRM + 2.00PG − 1.40FRP** [ ${14.02}_{γ}^{* }, 71, 00_{C}^{ * }]$ − 5.20PUCDT* + 2.43IMFIN** + 2.33IMFDTI* + 1.99TRP − 1.55INFL + 2.88GEXP + 2.22EMSS + 2.33TRM − 1.12PG − 2.87FRP**

Note:

The ***, ***, * denotes the level of significance at 1, 5 and 10%, respectively

Source: Author’s calculation results based on data from WDI, 2023