- Tytuł:
- The impact of external debt on Poland’s economic growth
- Autorzy:
- Bilewicz, Ewa
- Powiązania:
- https://bibliotekanauki.pl/articles/27313539.pdf
- Data publikacji:
- 2022
- Wydawca:
- Politechnika Śląska. Wydawnictwo Politechniki Śląskiej
- Tematy:
-
external debt
economic growth
Polska
dług zewnętrzny
rozwój ekonomiczny
Polska - Opis:
- Purpose: The primary purpose of this paper is to examine the relationship between external debt and economic growth in Poland for the period 2004-2021. Design/Methodology/Approach: The study uses quarterly, secondary data spanning from 2004 to 2021. The data gathered in the research were analysed using the ordinary least squares (OLS) regression and backward stepwise regression model. Findings: The empirical results of research show that relationship between changes in ratio of external debt stock to GDP and economic growth is positive but not significant in period 20042021. This suggest that foreign borrowing minimally contributes to economic expansion of Poland. Furthermore, the results for the control variables indicate that trade openness and investment have a positive and significant effect on economic growth, whereas financial development and inflation negative. Practical Implications: Understanding variables that influence countries' economic growth is essential for designing appropriate economic policies, including debt management strategy. The research results can be used to formulate debt management strategy, which helps to minimalize risk connected with foreign borrowing. Poland should decrease dependence on external debt and increase reliance on domestic savings and other non-debt creating inflows. In addition, the results of study provide a reasonable basis for further research on the influence of the foreign debt’ composition on economic expansion of the country. Originality/Value: The nexus external debt-economic growth is widely debated by researchers, however until now, little research has been done about this relationship in Poland.
- Źródło:
-
Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska; 2022, 160; 83--93
1641-3466 - Pojawia się w:
- Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska
- Dostawca treści:
- Biblioteka Nauki
Artykuł