Jha, Raghbendra; Sharma, Anurag - Crawford School of Public Policy, Australian National … - 2001
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 dierent from [1, -1] the public debt is said to be unsustainable. Extant work indicates that India’s public debt is unsustainable. We...
