{"id":"https://openalex.org/W1482701566","doi":null,"title":"Is Public Debt Growth-Enhancing or Growth-Reducing?","display_name":"Is Public Debt Growth-Enhancing or Growth-Reducing?","publication_year":2014,"publication_date":"2014-01-01","ids":{"openalex":"https://openalex.org/W1482701566","mag":"1482701566"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:kyo:wpaper:884","doi":null,"is_oa":false,"landing_page_url":"http://www.kier.kyoto-u.ac.jp/DP/DP884.pdf","pdf_url":"http://www.kier.kyoto-u.ac.jp/DP/DP884.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://repository.kulib.kyoto-u.ac.jp/bitstreams/0a76dd85-1465-4a65-a03e-50e65e2f3161/download","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5054611673","display_name":"Real Arai","orcid":"https://orcid.org/0000-0001-8294-4838","observed_orcids":["https://orcid.org/0000-0001-8294-4838"]},"institutions":[{"id":"https://openalex.org/I113306721","display_name":"Hiroshima University","ror":"https://ror.org/03t78wx29","country_code":"JP","type":"education","lineage":["https://openalex.org/I113306721"]}],"countries":["JP"],"is_corresponding":false,"raw_author_name":"Real Arai","raw_affiliation_strings":["Hiroshima University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Hiroshima University","institution_ids":["https://openalex.org/I113306721"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5106922236","display_name":"Takuma Kunieda","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I168719708","display_name":"City University of Hong Kong","ror":"https://ror.org/03q8dnn23","country_code":"HK","type":"education","lineage":["https://openalex.org/I168719708"]}],"countries":["HK"],"is_corresponding":false,"raw_author_name":"Takuma Kunieda","raw_affiliation_strings":["City University of Hong Kong"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"City University of Hong Kong","institution_ids":["https://openalex.org/I168719708"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5048473876","display_name":"Keigo Nishida","orcid":"https://orcid.org/0000-0001-9697-3277","observed_orcids":["https://orcid.org/0000-0001-9697-3277"]},"institutions":[{"id":"https://openalex.org/I22299242","display_name":"Kyoto University","ror":"https://ror.org/02kpeqv85","country_code":"JP","type":"education","lineage":["https://openalex.org/I22299242"]}],"countries":["JP"],"is_corresponding":false,"raw_author_name":"Keigo Nishida","raw_affiliation_strings":["Kyoto univ"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Kyoto univ","institution_ids":["https://openalex.org/I22299242"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":3,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":5,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":"884","issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11621","display_name":"Fiscal Policies and Political Economy","score":0.7275000214576721,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11621","display_name":"Fiscal Policies and Political Economy","score":0.7275000214576721,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11770","display_name":"Fiscal Policy and Economic Growth","score":0.26660001277923584,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.0015999999595806003,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/public-debt","display_name":"public debt","score":0.9950000047683716},{"id":"https://openalex.org/keywords/economic-growth","display_name":"economic growth","score":0.9919999837875366},{"id":"https://openalex.org/keywords/crowd-out-effect","display_name":"crowd-out effect","score":0.9079999923706055},{"id":"https://openalex.org/keywords/inverted-u-shaped-relationship","display_name":"inverted U-shaped relationship","score":0.8949999809265137},{"id":"https://openalex.org/keywords/debt-threshold","display_name":"debt threshold","score":0.628000020980835},{"id":"https://openalex.org/keywords/private-investment","display_name":"private investment","score":0.9010000228881836},{"id":"https://openalex.org/keywords/financial-constraints","display_name":"financial constraints","score":0.968999981880188},{"id":"https://openalex.org/keywords/dynamic-general-equilibrium-model","display_name":"dynamic general equilibrium model","score":0.8629999756813049},{"id":"https://openalex.org/keywords/infinitely-lived-agents","display_name":"infinitely lived agents","score":0.9330000281333923}],"concepts":[{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.8118724226951599},{"id":"https://openalex.org/C8031360","wikidata":"https://www.wikidata.org/wiki/Q1071788","display_name":"Crowding out","level":2,"score":0.7127252817153931},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6590096354484558},{"id":"https://openalex.org/C106210156","wikidata":"https://www.wikidata.org/wiki/Q1559695","display_name":"Debt-to-GDP ratio","level":4,"score":0.6156320571899414},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.6115779280662537},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.5667200088500977},{"id":"https://openalex.org/C202189257","wikidata":"https://www.wikidata.org/wiki/Q2915683","display_name":"Internal debt","level":3,"score":0.5143964886665344},{"id":"https://openalex.org/C22270272","wikidata":"https://www.wikidata.org/wiki/Q5248601","display_name":"Debt levels and flows","level":4,"score":0.48141786456108093},{"id":"https://openalex.org/C2994464924","wikidata":"https://www.wikidata.org/wiki/Q1929688","display_name":"Public investment","level":3,"score":0.4651170074939728},{"id":"https://openalex.org/C178283979","wikidata":"https://www.wikidata.org/wiki/Q274490","display_name":"Public finance","level":2,"score":0.4232105612754822},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.29473865032196045},{"id":"https://openalex.org/C524878704","wikidata":"https://www.wikidata.org/wiki/Q187021","display_name":"Fiscal policy","level":2,"score":0.22577700018882751},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0693245530128479},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"pmh:oai:RePEc:kyo:wpaper:884","doi":null,"is_oa":false,"landing_page_url":"http://www.kier.kyoto-u.ac.jp/DP/DP884.pdf","pdf_url":"http://www.kier.kyoto-u.ac.jp/DP/DP884.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:irdb.nii.ac.jp:01221:0000140534","doi":null,"is_oa":true,"landing_page_url":"https://repository.kulib.kyoto-u.ac.jp/bitstreams/0a76dd85-1465-4a65-a03e-50e65e2f3161/download","pdf_url":"https://repository.kulib.kyoto-u.ac.jp/bitstreams/0a76dd85-1465-4a65-a03e-50e65e2f3161/download","source":{"id":"https://openalex.org/S7407056385","display_name":"Institutional Repositories DataBase (IRDB)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I184597095","host_organization_name":"National Institute of Informatics","host_organization_lineage":["https://openalex.org/I184597095"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"KIER Discussion Paper","raw_type":"research report"},{"id":"pmh:oai:repository.kulib.kyoto-u.ac.jp:2433/180083","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/2433/180083","pdf_url":"http://hdl.handle.net/2433/180083","source":{"id":"https://openalex.org/S4306401454","display_name":"Kyoto University Research Information Repository (Kyoto University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I22299242","host_organization_name":"Kyoto University","host_organization_lineage":["https://openalex.org/I22299242"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"Research Paper"}],"best_oa_location":{"id":"pmh:oai:irdb.nii.ac.jp:01221:0000140534","doi":null,"is_oa":true,"landing_page_url":"https://repository.kulib.kyoto-u.ac.jp/bitstreams/0a76dd85-1465-4a65-a03e-50e65e2f3161/download","pdf_url":"https://repository.kulib.kyoto-u.ac.jp/bitstreams/0a76dd85-1465-4a65-a03e-50e65e2f3161/download","source":{"id":"https://openalex.org/S7407056385","display_name":"Institutional Repositories DataBase (IRDB)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I184597095","host_organization_name":"National Institute of Informatics","host_organization_lineage":["https://openalex.org/I184597095"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"KIER Discussion Paper","raw_type":"research report"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","score":0.4000000059604645,"display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[{"id":"https://openalex.org/G5130568219","display_name":null,"funder_award_id":"7200307","funder_id":"https://openalex.org/F4320309893","funder_display_name":"City University of Hong Kong"}],"funders":[{"id":"https://openalex.org/F4320309893","display_name":"City University of Hong Kong","ror":"https://ror.org/03q8dnn23"},{"id":"https://openalex.org/F4320322099","display_name":"Korea Institute of Energy Research","ror":"https://ror.org/0298pes53"}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W1482701566.pdf","grobid_xml":"https://content.openalex.org/works/W1482701566.grobid-xml"},"referenced_works_count":40,"referenced_works":["https://openalex.org/W591270315","https://openalex.org/W1540377443","https://openalex.org/W1653431465","https://openalex.org/W1735657992","https://openalex.org/W1754354078","https://openalex.org/W1984369066","https://openalex.org/W1986957088","https://openalex.org/W1987824216","https://openalex.org/W1991258191","https://openalex.org/W2004545481","https://openalex.org/W2006310573","https://openalex.org/W2008050275","https://openalex.org/W2018792429","https://openalex.org/W2042704104","https://openalex.org/W2047560619","https://openalex.org/W2079363987","https://openalex.org/W2096745449","https://openalex.org/W2104516116","https://openalex.org/W2113626413","https://openalex.org/W2129138051","https://openalex.org/W2129539032","https://openalex.org/W2133207356","https://openalex.org/W2141137241","https://openalex.org/W2145135403","https://openalex.org/W2157028860","https://openalex.org/W2159363835","https://openalex.org/W2163287725","https://openalex.org/W2168584462","https://openalex.org/W2243162768","https://openalex.org/W2295393396","https://openalex.org/W2892228580","https://openalex.org/W2914528116","https://openalex.org/W2955878450","https://openalex.org/W3121143926","https://openalex.org/W3122227685","https://openalex.org/W3122611856","https://openalex.org/W3123703631","https://openalex.org/W3124917281","https://openalex.org/W3124925284","https://openalex.org/W4238460921"],"related_works":["https://openalex.org/W2967999060","https://openalex.org/W2754344605","https://openalex.org/W4414758176","https://openalex.org/W3122729822","https://openalex.org/W3186736357","https://openalex.org/W4391261568","https://openalex.org/W2105481980","https://openalex.org/W7113217974","https://openalex.org/W3083508632","https://openalex.org/W3008260750"],"abstract_inverted_index":{"To":[0],"understand":[1],"mixed":[2],"evidence":[3],"provided":[4],"by":[5,46],"empirical":[6],"studies":[7],"for":[8],"the":[9,12,27,38,47,69,100,103,108,112,122,126,130,139,144,147,158,162],"relationship":[10,67,106],"between":[11,68],"accumulation":[13,70,131,148],"of":[14,30,71,132,149],"public":[15,31,72,87,113,133,140,150],"debt":[16,32,73,88,134,151],"and":[17,62,74,83,98,129],"economic":[18,34,75,136,155],"growth,":[19],"it":[20],"is":[21,116],"necessary":[22],"to":[23,153],"consider":[24],"not":[25],"only":[26],"crowd-out":[28,82,127,159],"effect":[29,41,124,128,160],"on":[33,80,90],"growth":[35,109,156],"but":[36],"also":[37],"growth-enhancing":[39],"crowd-in":[40,84,123,163],"that":[42,86],"cannot":[43],"be":[44],"uncovered":[45],"traditional":[48],"theoretical":[49],"achievements.":[50],"We":[51],"develop":[52],"a":[53,94,118],"dynamic":[54],"general":[55],"equilibrium":[56],"model":[57],"with":[58,157],"infinitely":[59],"lived":[60],"agents":[61],"derive":[63],"an":[64],"inverted":[65,104],"U-shaped":[66,105],"growth.":[76,137],"The":[77],"analysis":[78],"focuses":[79],"both":[81],"effects":[85],"has":[89],"private":[91],"investment":[92],"in":[93,107],"financially":[95],"constrained":[96],"economy":[97],"clarifies":[99],"mechanism":[101],"inducing":[102],"process.":[110],"When":[111,138],"debt-to-GDP":[114,141],"ratio":[115,142],"below":[117],"certain":[119],"threshold":[120,145],"level,":[121,146],"dominates":[125],"promotes":[135],"exceeds":[143],"begins":[152],"hinder":[154],"dominating":[161],"effect.":[164]},"counts_by_year":[{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":1},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":1}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2016-06-24T00:00:00"}