Date of Award


Document Type

Restricted Thesis

Degree Name

Bachelor of Arts



First Advisor

Monica Das


This thesis reviews past works that measured separately how public debt and private debt and household debt specifically affects GDP growth for both advanced and emerging economies for years generally up to 2009. This paper is meant to continue these analyses and update results for the years 2010-2015. This paper incorporates different factors including population, investment and dummy variables considered from each previous work as well as the some of the econometric analytical frameworks used. After conducting successful robustness checks, this paper concluded that private debt is beneficial to GDP growth in advanced countries once debt surpasses 120 percent of a country’s GDP. It can’t be concluded, however, that increases in public debt, household debt or population will continue to harm growth when either of these debt types reach past 90 percent of GDP due to insignificant results being calculated. It can be concluded, however, that public debt will cause inflation to decline when public debt is above 120 percent of GDP.