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Theoretical and Applied Economics
No. 4 / 2017 (613), Winter

Macroeconomic determinants of public debt growth: A case study for Tunisia

Samia OMRANE BELGUITH
Faculty of Economics and Management of Sfax, University of Sfax, Tunisia
Hanen OMRANE
Faculty of Economics and Management of Sfax, University of Sfax, Tunisia

Abstract. This article offers an econometric investigation of the macroeconomic determinants of public debt in Tunisia using VECM model for the period 1986-2015. The results of the full sample analysis reveal that inflation and investment reduce the value of public debt. However, real interest rate, budget deficit and trade openness increase public debt. The study shows also the budget deficit is the most important determinant of public debt in Tunisia.

Keywords: Public debt, budget deficit, fiscal policy, Tunisia.

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016

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