Jha, Raghbendra; Sharma, Anurag - In: Public Finance Review 32 (2004) 2, pp. 196-219
If public expenditure and public revenue are I (0), public debt is sustainable, but if these are I (1) and not cointegrated or have a cointegrating vector different from [1, -1], the public debt is said to be unsustainable. Extant work indicates that India’s public debt is unsustainable. The...
