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This article studies the role of institutional quality, through indicators of governance, in the relationship between external debt and economic growth in Latin American countries during the period 2000-2019. The panel coefficient estimation technique (fully modified OLS) is used. The estimates suggest that improving institutional quality increases the positive impacts of external debt on GDP growth. This leads to the need to implement measures to improve institutional quality, because poor debt management, such as deviations tonon-productive activities, have their origin in institutional failures., Este artículo estudia el rol de la calidad institucional, a través de indicadores de gobernanza, en la relación entre deuda externa y crecimiento económico en países de América Latina durante el periodo 2000-2019. Se utiliza la técnica de estimación de coeficientes de panel (MCO totalmente modificado), donde las estimaciones sugieren que la mejora de la calidad institucional aumenta los impactos positivos de la deuda externa en el crecimiento del PIB. Esto conlleva a la necesidad de implementar medidas para mejorar la calidad institucional, debido a que una mala gestión de la deuda, como desvíos hacia actividades no productivas, tienen su origen en fallas de institucionalidad.

As a developing country, the Indonesian government certainly wants to achieve equitable welfare for its people. However, due to the domestic stock of capital, which of course causes the national economic development process to be hampered, Indonesia is looking for ways to accelerate the national economic development process. One way to do this is that the Indonesian government still relies on foreign debt to finance the national development process. Again, the role of foreign debt on the government of Megawati Soekarnoputri, Susilo Bambang Yudhoyono, and Joko Widodo on economic growth in Indonesia. The nature of this research is quantitative, and the type of data source used is secondary data. The data used include data on economic growth and foreign debt obtained through the official websites of the central statistics agency and bank Indonesia in the 2001-2021 research period. The analytical method used is simple linear regression and uses samples using one of the non-probability sampling techniques, namely purposive sampling. The results of this study explain that the foreign debt of the government of Megawati Soekarnoputri, Susilo Bambang Yudhoyono, and Joko Widodo has a positive and significant effect on economic growth, Sebagai negera berkembang, pemerintah Indonesia tentu ingin mewujudkan kesejahteraan merata bagi masyarakatnya. Tetapi dikarenakan stok anggaran dalam negeri masih kecil tentu membuat proses pembangunan ekonomi nasional menjadi terhambat sehingga pemerintah Indonesia mencari solusi untuk memperlancar pembangunan ekonomi nasional, adapun cara yang masih dilakukan oleh pemerintah Indonesia masih menggantungkan pinjaman luar negeri dalam membiayai proses pembangunan nasional dan peran utang luar negeri inilah diharapkan dapat memberikan dampak positif maupun pengaruh terhadap pertumbuhan ekonomi di Indonesia sehingga kesejahteraan merata dapat tercapai. Tujuan penelitian ini adalah untuk mengetahui pengaruh utang luar negeri pada pemerintahan Megawati Soekarnoputri, Susilo Bambang Yudhoyono dan Joko Widodo terhadap pertumbuhan ekonomi di Indonesia. Adapun Jenis dalam penelitian ini merupakan penelitian kuantitatif sementara sumber data nya adalah data sekunder, data yang digunakan adalah data pertumbuhan ekonomi dan utang luar negeri yang diperoleh melalui website resmi badan pusat statistik dan Bank Indonesia dalam periode penelitian tahun 2001-2021. Metode analisis yang digunakan adalah regresi linier sederhana dan penetapan sampel yang digunakan merupakan teknik Non-Probability Sampling, yaitu Purposive Sampling. Adapun hasil penelitian ini menjelaskan bahwa utang luar negeri pada pemerintahan Megawati Soekarnoputri, Susilo Bambng Yudhoyono dan Joko Widodo berpengaruh positif dan signifikan terhadap pertumbuhan ekonomi

In an empirical, dynamic simultaneous equation model (DSEM) for Brazil with 22 equations and variables, we show that foreign income is a driver of economic growth besides semi-endogenous technical change. With a balance-of-payments constraint and endogenous terms of trade, the major mechanism is (i) world GDP driving exports,(ii) exports paying for imported capital goods, which (iii) enter a production function increasing output and the foreign-debt/GDP ratio and (iv) increase the endogenous labour force, and (v) slightly reduce human capital growth. Permanent increases of human capital increase the R&D/GDP ratio, labour-augmenting productivity, and GDP. A policy to increase the R&D/GDP ratio leads to more human capital, labour productivity and GDP levels. Both knowledge policies reduce the debt/GDP ratio. A lasting shock on the terms of trade reveals that there is no Harberger-Laursen-Metzler effect. The results hold in the presence of endogenous terms of trade, foreign debt, net foreign income, and net current transfers from abroad, and non-Walrasian (dis-) equilibrium variables: inflation and changing inventories for the goods market, and unemployment in the labour market. Policy should strengthen the weak link from R&D to technical change and make education more attractive.

Artículo de revista, On balance of payments statistics, in 2021 Spain’s net lending amounted to 1.8% of GDP (1.2% in 2020). This increase mainly reflected the partial recovery in the travel surplus, thanks to the improvement in the epidemiological situation prompted by the headway in vaccination, and the widening of the capital account surplus, boosted by the credits corresponding to Next Generation EU. This countered the deterioration in the goods deficit, against the backdrop of the rising energy bill. Meanwhile, Spain’s negative net international investment position decreased significantly (to 70.4% of GDP, its lowest level since 2006), thanks to the positive financial transactions with the rest of the world and, to a greater degree, GDP growth and the increase in value of external financial assets. Conversely, Spain’s gross external debt reached another all-time high (€2,329 billion) due to the assumption of new liabilities, particularly by general government and the Banco de España. However, it fell as a percentage of GDP thanks to economic growth.