The influence of interregional differences on the relationship between public debt and economic growth in brazilian states
DOI:
https://doi.org/10.16930/2237-766220253524Keywords:
Public debt, GDP, Brazilian states, Dynamic panel, Regional disparitiesAbstract
This study investigates whether interregional differences influenced the relationship between public debt and economic growth in Brazilian states between 2015 and 2021. Although the literature has advanced in analyzing the effects of debt on economic growth, there is still limited understanding of how this relationship varies across regions with different levels of development, revenue-raising capacity, and fiscal management. This study addresses this gap by adopting an interregional approach applied to subnational entities, using a dynamic panel regression model (System GMM). The results indicate that the influence of public debt on economic growth varies by region, reflecting structural inequalities and differing management capacities. While public investment and educational attainment foster economic growth, high levels of indebtedness hinder this progress, especially in less developed regions. The analysis reinforces the importance of responsible fiscal policies and regional development strategies that consider the socioeconomic specificities of each state. The findings highlight the need for efficient debt management and policies aimed at strategic investments to promote sustainable growth and reduce regional disparities.
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