'Growth in a Time of Debt' as an example of the logical-positivist science

Mariusz Maziarz

Abstract

The paper addresses the question whether the now-infamous piece of econometric research conducted by Reinhart and Rogoff (2010) that set the threshold hypothesis in the relation between public debt and economic growth was conducted in accordance with the neopositivist doctrine. The article consists of two parts. First, the epistemic advice given by logical positivism is reconstructed and operationalized. Second, the cliometric method employed by Reinhart and Rogoff (2010) is analyzed. The answer to the research question is affirmative. ‘Growth in a Time of Debt’ is a piece of logical-positivist science because (1) the research is data-based and aimed at confirming the results, (2) its authors are committed to the neopositivist theory-observation distinction, (3) its goal is describing an empirical generalization and the result’s interpretations suggest that (4) Reinhart and Rogoff (2010) understand causality in a reductionist way, as a constant conjunction.
Author Mariusz Maziarz (ES)
Mariusz Maziarz,,
- Faculty of Economic Sciences
Journal seriesThe Journal of Philosophical Economics, ISSN 1843-2298, e-ISSN 1844-8208, (B 4 pkt)
Issue year2017
Vol10
No2
Pages47-64
Publication size in sheets0.85
Keywords in EnglishReinhart-Rogoff; logical positivism, methodology, causality, economics
URL http://hrcak.srce.hr/181744
Languageen angielski
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Maziarz_Growth_in_a_Time_of_Debt.pdf of 08-08-2018
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Score (nominal)4
Citation count*1 (2019-12-08)
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