Public Debt and Economic Growth: Case of ASEAN Nations

Proceedings of The 4th World Conference on Social Sciences Studies

Year: 2022

DOI:

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Public Debt and Economic Growth: Case of ASEAN Nations

Chittawan Chanagul

ABSTRACT: 

The objective of this study is to give an overview of public debt in ASEAN nations from 2000 through 2018. In addition, this research seeks to find out the relationship between public debt and economic growth in ASEAN nations. To achieve the objectives, the descriptive statistics is provided and followed by the regression analysis. The results drawn from this study suggest that public debt Singapore, Malaysia, Brunei, and Vietnam, have generally been increasing over the past decade. Regarding the Regression analysis, mean year of schooling as well as trade openness are shown to have a positive impact on the growth rates whereas public debt is negatively related with economic growth. To be more particular, public debt of the Philippines, Cambodia, Singapore, and Laos has a significant negative impact on the country’s growth.

keywords: Public Debt, Economic Growth, Schooling