The role of foreign debt maturity in economic growth
Published: July 22, 2026
Abstract
External debt has been successfully used as a tool for promoting economic development in many developed countries, and this tool is widely exploited by developing countries. However, the selection of foreign debt options to optimally promote economic development has not been researched in depth. In this study, multinational panel data is analyzed to explore the impact of external debt in general and short-term and long-term external debt in particular on economic growth and the relationship between these factors. The study’s results show that when a country uses short-term external debt, the room for this country’s economic development and the country’s natural economic development potential are limited. As a result, it is important for countries to carefully consider using external debt to promote their economic development.
Keywords
external debteconomic growthlong-term debt
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