Brief review of the theoretical and empirical literature

Reference no: EM132196624

Question: The 2007-2008 Global Financial Crisis (GFC) not only brought a sharp economic strike and uncertainty but also resulted in large increases in budget deficits and government debt, especially in some EU and EURO-zone countries. But also, other countries outside the EU area have been affected by the GFC. For example, South Africa since 2008 saw a steady increase in the external debt to GDP ratio and it has been argued that if this trend continuous, South Africa may be heading towards a debt crisis.

With reference to the above, you are required to:

a) Provide a brief review of the theoretical and empirical literature on the economic effects of public debt (50%).

b) Collect data on South Africa's external debt as a share of GDP, investment (Gross Fixed Capital Formation) as a share of GDP, Gross Savings as a share of GDP and GDP growth over the period 1994-2016 and present this data on a Table. Then plot the first 3 variables on a graph and discuss their evolution over time (25%).

c) Also, collect data on External Debt as a share of GDP for Botswana, Ghana and Kenya over the period 1994-2016. Prepare a graph to present this data along with South Africa's data on External Debt. That is, on the same graph you should plot the External debt as a share of GDP for the 4 countries and you should briefly discuss the evolution of External Debt in these countries (25%).

Reference no: EM132196624

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