External debt and economic growth in Egypt: Does governance matter?

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Asmaa Yassein, & Rasha M. Elakkad. (2023). External debt and economic growth in Egypt: Does governance matter?. Journal of Business Management and Economics, 11(12), 01–11. Retrieved from http://innovativejournal.in/index.php/jbme/article/view/3522
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Abstract

External debt is considered a source of income for many countries, especially developing ones. With reasonable levels, well managed, and channeled towards productive projects, external debts can help finance productive investments, which are expected to foster economic growth. However, if it exceeds certain levels, additional indebtedness may cause the economy to deteriorate, as it has many costs. In light of this, this paper aims to determine the impact of government debt on economic growth in Egypt during the period from 1980 to 2021 using the Autoregressive distributive lag model (ARDL). Moreover, the interactions of governance, external debt, and external debt volatility were further investigated, taking into consideration the interaction effect of governance measures in order to examine if borrowed debt is properly supervised and utilized for its purposes to spur economic growth.

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