Private debt boosts Turkey's economy, leading to significant growth
The article examines the relationship between external private debt and economic growth in Turkey from 1998 to 2016. By analyzing data using standard time series techniques, the researchers found that external private debt has a significant causal relationship with Gross Domestic Product (GDP) and that external private debt leads to an increase in GDP. This suggests that, at least in the short term, external private debt can help boost the economy of developing countries like Turkey.