AN EMPIRICAL ANALYSIS OF THE RELATIONSHIP BETWEEN EXTERNAL GOVERNMENT DEBT AND ECONOMIC GROWTH IN UZBEKISTAN
Keywords:
External Government Debt, Economic Growth, ARDL Cointegration, Uzbekistan, Debt ThresholdAbstract
the research aims to find optimal relationship between external government debt and economic growth in case of Uzbekistan. The research employs ARDL Cointegration test to find the long run relationship between variables. The outcome of the research shows that in the long run, external government debt and inflation have negative impact on the GDP growth of Uzbekistan, whereas fixed capital contributes to the development. This study did not find any evidence of impact of population growth and trade openness on the GDP growth of Uzbekistan.
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