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Author: Alan T. Peacock Publisher: Ashgate Publishing ISBN: 9780751202564 Category : Business & Economics Languages : en Pages : 213
Book Description
This work examines public expenditure, explaining the size and the structure of the system of public finance. Suitable for use as a course text, it can function as a point of departure for empirical and analytical studies on the behaviour of governments.
Author: Alan T. Peacock Publisher: Ashgate Publishing ISBN: 9780751202564 Category : Business & Economics Languages : en Pages : 213
Book Description
This work examines public expenditure, explaining the size and the structure of the system of public finance. Suitable for use as a course text, it can function as a point of departure for empirical and analytical studies on the behaviour of governments.
Author: Emmanuel Pinto Moreira Publisher: World Bank Publications ISBN: Category : Budget Constraint Languages : en Pages : 74
Book Description
Abstract: This paper presents a small-scale intertemporal model of endogenous growth that accounts for the composition of public expenditure and externalities associated with public capital. Government spending is disaggregated into various components, including maintenance, security, and investment in education, health, and core infrastructure. After studying its long-run properties, the model is calibrated for Haiti, using country-specific information as well as parameter estimates from the literature. A variety of policy experiments are then reported, including a reallocation of spending aimed at creating fiscal space to promote public investment; an improvement in fiscal management that leads to a reduction in tax collection costs; higher spending on security; and a composite fiscal package.
Author: Valery Awuh Publisher: ISBN: Category : Languages : en Pages :
Book Description
Abstract: In the past, a lot of studies put more emphasis on the aggregate government expenditure as the primary driver of social and economic growth which is in the short term. The studies did not capture expenditures on infrastructure, education, and defense which are the disaggregate government expenditure that sustains both social and economic growth in the long term. The objective of this study is to determine how the demand and supply side of government expenditure can impact on social and economic growth using 45 both advanced and emerging countries. It also wants to establish the expenses that have a long-term effect on growth using balance panel dataset and estimate the relationship between the expenditures in different sectors. We use OLS model to evaluate the impact. The main result is that: when we consider a panel set using fixed effect on the leading indicators of economic growth, that the supply side of public spending on infrastructure, education, transport, communication, agriculture, etc. increases production and economic growth in the sampled countries. Besides, we used data from 1995-2015, and the finding will help us to understand the long-term effect of government expenditure that enhances production and growth while controlling for the demand side.
Author: Mr.Santiago Acosta Ormaechea Publisher: International Monetary Fund ISBN: 1475560605 Category : Business & Economics Languages : en Pages : 45
Book Description
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.
Author: Willi Semmler Publisher: World Bank Publications ISBN: Category : Access to Finance Languages : en Pages : 36
Book Description
Abstract: This paper responds to the development policy debate involving the World Bank and the IMF on the use of fiscal policy not only for economic stabilization but also to promote economic growth and increase per capita income. A key issue in this debate relates to the effect of the composition of public expenditure on economic growth. Policy makers and some researchers have argued that expenditure on growth-enhancing functions could enhance future revenue and justify the provision of "fiscal space" in the budget. But there are no simple ways to identify the growth-maximizing composition of public expenditure. The current paper lays out a research strategy to explore the effects of fiscal policy, including the composition of public expenditure, on economic growth, using a time series approach. Based on the modeling strategy of Greiner, Semmler and Gong (2005) we develop a general model that features a government that undertakes public expenditure on (a) education and health facilities which enhance human capital, (b) public infrastructure such as roads and bridges necessary for market activity, (c) public administration to support government functions, (d) transfers and public consumption facilities, and (e) debt service. The proposed model is numerically solved, calibrated and the impact of the composition of public expenditure on the long-run per capita income explored for low-, lower-middle- and upper-middle-income countries. Policy implications and practical policy rules are spelled out, the extension to an estimable model indicated, a debt sustainability test proposed, and the out-of-steady-state dynamics studied.
Author: Shantayanan Devarajan Publisher: ISBN: Category : Compras estatales - Paises en desarrollo Languages : en Pages : 50
Book Description
The traditional views that public capital spending strengthens economic growth and current spending does not are not borne out by experience in developing countries. In fact, the only category of public spending associated with higher economic growth is current spending -- although spending on preventive care and "other education" has some positive effect.
Author: Nihal Bayraktar Publisher: ISBN: Category : Languages : en Pages : 74
Book Description
This paper presents a small-scale intertemporal model of endogenous growth that accounts for the composition of public expenditure and externalities associated with public capital. Government spending is disaggregated into various components, including maintenance, security, and investment in education, health, and core infrastructure. After studying its long-run properties, the model is calibrated for Haiti, using country-specific information as well as parameter estimates from the literature. A variety of policy experiments are then reported, including a reallocation of spending aimed at creating fiscal space to promote public investment; an improvement in fiscal management that leads to a reduction in tax collection costs; higher spending on security; and a composite fiscal package.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1451974159 Category : Business & Economics Languages : en Pages : 30
Book Description
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.
Author: Stefano Paternostro Publisher: World Bank Publications ISBN: Category : Absolute Poverty Languages : en Pages : 39
Book Description
Abstract: Public spending has effects which are complex to trace and difficult to quantify. But the composition of public expenditure has become the key instrument by which development agencies seek to promote economic development. In recent years, the development assistance to heavily indebted poor countries (HIPCs) has been made conditional on increased expenditure on categories that are thought to be "pro-poor". This paper responds to the growing concern being expressed about the conceptual foundations and the empirical basis for the belief that poverty can be reduced through targeted public spending. While it is widely accepted that growth and redistribution are important sources of reduction in absolute poverty, a review of the literature confirms the lack of an appropriate theoretical framework for assessing the impact of public spending on growth as well as poverty. There is a need to combine principles of both public economics and growth theory to develop appropriate theoretical guidance for public expenditure policy. This paper identifies a number of approaches that are beginning to address this gap. Building on these approaches, it proposes a framework that has its foundation in a broadly articulated development strategy and its economic goals such as growth, equity, and poverty reduction. It recommends the use of public economics principles to clarify the roles of the private and public sectors and to recognize the complementarity of spending, taxation, and regulatory instruments available to affect public policy. With regard to the impact of any given type of public spending, policy recommendations must be tailored to countries and be based on empirical analysis that takes account of the lags and leads in their effects on equity and growth and ultimately on poverty. The paper sketches out such a framework as the first step in what will have to be a longer-term research agenda to provide theoretically and empirically robust and verifiable guidance to public spending policy.
Author: Alan T. Peacock
Author: Alan T. Peacock
Author: Emmanuel Pinto Moreira
Author: Valery Awuh
Author: Mr.Santiago Acosta Ormaechea
Author: Willi Semmler
Author: Shantayanan Devarajan
Author: Nihal Bayraktar
Author: International Monetary Fund
Author: Ludger Schuknecht
Author: Stefano Paternostro