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Government Expenditure and Economic Growth

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 1989-05-15

Total Pages: 30

ISBN-13: 1451974159

This paper examines the empirical evidence on the contribution that government and, in particular, capital expenditure make to the growth performance of a sample of developing countries. Using the Denison growth accounting approach, this study finds that social expenditures may have a significant impact on growth in the short run, but infrastructure expenditures may have little influence. While current expenditures for directly productive purposes may exert a positive influence, capital expenditure in these sectors appears to exert a negative influence. Experiments with other explanatory variables confirm the importance of the growth of exports to the overall growth rate.

Unproductive Public Expenditures

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2005-04-04

Total Pages: 56

ISBN-13: 1557755418

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Public expenditure policy, together with efforts to raise revenue,is at the core of efficient and equitable adjustment. Public expenditureproductivity has critical implications for fiscal adjustment, particularly as the competition for limited public resources intensifies.By providing a framework for defining and analyzing public expenditureproductivity and unproductive expenditures, this pamphlet discusseshow economic policymakers may approach these issues.

Federal Expenditure Policy for Economic Growth and Stability

Author: United States. Congress. Joint Economic Committee

Publisher:

Published: 1957

Total Pages: 1240

ISBN-13:

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Public Spending and the Role of the State

Author: Ludger Schuknecht

Publisher: Cambridge University Press

Published: 2020-11-12

Total Pages: 305

ISBN-13: 1108496237

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Up-to-date, holistic and comprehensive discussion of public expenditure, its history, value for money, risks and remedies.

Government Spending, Taxes, and Economic Growth

Author: Mr.Paul Cashin

Publisher: International Monetary Fund

Published: 1994-08-01

Total Pages: 36

ISBN-13: 1451951477

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This paper develops an endogenous growth model of the influence of public investment, public transfers, and distortionary taxation on the rate of economic growth. The growth-enhancing effects of investment in public capital and transfer payments are modeled, as is the growth-inhibiting influence of the levying of distortionary taxes which are used to fund such expenditure. The theoretical implications of the model are then tested with data from 23 developed countries between 1971 and 1988, and time series cross sectional results are obtained which support the proposed influence of the public finance variables on economic growth.

The Efficiency of Government Expenditure

Author: Ms.Keiko Honjo

Publisher: International Monetary Fund

Published: 1997-11-01

Total Pages: 61

ISBN-13: 145192240X

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This paper assesses the efficiency of government expenditure on education and health in 38 countries in Africa in 1984-95, both in relation to each other and compared with countries in Asia and the Western Hemisphere. The results show that, on average, countries in Africa are less efficient than countries in Asia and the Western Hemisphere; however, education and health spending in Africa became more efficient during that period. The assessment further suggests that improvements in educational attainment and health output in African countries require more than just higher budgetary allocations.

Economic Growth and Government Spending in Saudi Arabia

Author: Mr.Saad A. Alshahrani

Publisher: International Monetary Fund

Published: 2014-01-13

Total Pages: 26

ISBN-13: 1484348796

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This paper empirically examines the effects of different types of government expenditures, on economic growth in Saudi Arabia. We use different econometric techniques to estimate the short- and long-run effects of these expenditures on growth and employ annual data over the period 1969-2010. Our findings indicate that while private domestic and public investments, as well as healthcare expenditure, stimulate growth in the long-run, openness to trade and spending in the housing sector can also boost short-run production. These findings draw some policy implications for Saudi policymakers on maximizing the returns of the government spending on economic growth.

Expansionary Austerity New International Evidence

Author: Mr.Daniel Leigh

Publisher: International Monetary Fund

Published: 2011-07-01

Total Pages: 41

ISBN-13: 1455294691

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This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.

Government Expenditure and Economic Growth in the EU

Author: Alfonso Arpaia

Publisher:

Published: 2008

Total Pages: 60

ISBN-13:

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Recoge: 1. Introduction - 2. Empirical strategy and data - 3. Panel unit root tests and cointegration analysis - 4. Heterogeneous panel ECM estimation - 5. Robustness analysis - 6. Implications for policy - 7. Concluding remarks.

Can a Government Enhance Long-Run Growth by Changing the Composition of Public Expenditure?

Author: Mr.Santiago Acosta Ormaechea

Publisher: International Monetary Fund

Published: 2013-07-08

Total Pages: 45

ISBN-13: 1475550596

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This paper studies the effects of public expenditure reallocations on long-run growth. To do this, we assemble a new dataset based on the IMF’s GFS yearbook for the period 1970-2010 and 56 countries (14 low-, 16 medium-, and 26 high-income countries). Using dynamic panel GMM estimators, we find that a reallocation involving a rise in education spending has a positive and statistically robust effect on growth, when the compensating factor remains unspecified or when this is associated with an offsetting reduction in social protection spending. We also find that public capital spending relative to current spending appears to be associated with higher growth, yet results are non-robust in this latter case.