Page 71 - ES 2020-21_Volume-1-2 [28-01-21]

54 Economic Survey 2020-21 Volume 1

Thailand

Vietnam

Source: IMF World Bank
Notes: d: Change in General Government Debt as a per cent of GDP r: Real interest rate; g: Real growth rate
The data for EMEs is taken starting from the year 2000 due to data constraint.
Data for Thailand is available from 2006.
2.9 Cross country evidence also suggests that, within countries, growth rates vary far more across
time than interest rates (Figure 5a). In fact, a higher variability is observed in mean growth rates

Figure 5: Variation in g vis-à-vis variation in r (1980 – 2018)
5a. Variation in growth rates and interest 5b. Variation in average growth
rates within countries rate and average interest rate
across countries

Time period: 1980 to 2018
Source: IMF, World bank
Countries such as Brazil, France, Germany have not been included due to non-availability of data on real
interest rate in World Bank data portal; the panel is unbalanced.