Abstract:

This study provides econometric analysis based on theoretical and empirical studies on the impact of public external debt of the Eurasian Economic Union (EAEU) countries on economic growth. First, cross-sectional dependence is studied by a CD test developed by Pesaran (2004) using annual data from 1994-2020. Then, the CADF unit root test, developed by Pesaran (2007), one of the unit root tests that takes into account cross-sectional dependence, is used to verify that the series are stationary. The cointegration relationship between the variables is determined by the panel cointegration test Persyn, D. and Westerlund J. (2008).

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