第72回アジア太平洋研究センター（WIAPS）研究会

開催日時

2021年6月14日（月）12:15-12:50

場所

ZOOMウェビナー

参加資格

WIAPS専任教員・助教, GSAPS兼担教員, WIAPS受入の交換研究員・訪問学者・外国人研究員, GSAPS修士課程・博士後期課程在学生

報告1

報告者

菊地　朋生　（早稲田大学アジア太平洋研究科准教授）

報告テーマ

Does Foreign Debt Contribute to Economic Growth?

要旨

We study the relationship between foreign debt and economic growth using a panel data set of 114 countries from 1980 to 2015. We find that economic growth correlates positively with foreign debt and that the relationship is causal in nature by using sovereign credit rating as an instrumental variable. Furthermore, we find that foreign debt increases economic growth through private investment and capital accumulation, and that the mechanism is supported by “uphill” capital flows from non-OECD to OECD countries.