How Does The Composition Of Public Spending Matter
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How Does The Composition Of Public Spending Matter
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Author : Stefano Paternostro
language : en
Publisher: World Bank Publications
Release Date : 2005
How Does The Composition Of Public Spending Matter written by Stefano Paternostro and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Absolute Poverty categories.
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.
How Does The Composition Of Public Spending Matter
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Author : Stefano Paternostro
language : en
Publisher:
Release Date : 2012
How Does The Composition Of Public Spending Matter written by Stefano Paternostro and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
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.
Reallocating Public Spending To Reduce Income Inequality Can It Work
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Author : Djeneba Doumbia
language : en
Publisher: International Monetary Fund
Release Date : 2019-09-06
Reallocating Public Spending To Reduce Income Inequality Can It Work written by Djeneba Doumbia and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-06 with Business & Economics categories.
Can a government reduce income inequality by changing the composition of public spending while keeping the total level of expenditure fixed? Using newly assembled data on spending composition for 83 countries across all income groups, this paper shows that reallocating spending toward social protection and infrastructure is associated with reduced income inequality, particularly when it is financed through cuts in defense spending. However, the political and security situation matters. The analysis does not find evidence that lowering defense spending to finance infrastructure and social outlays improves income distribution in countries with weak institutions and at higher risk of conflict. Reallocating social protection and infrastructure spending towards other types of spending tends to increase income inequality. Accounting for the long-term impact of health spending, and particularly education spending, helps to better capture the equalizing effects of these expenditures. The paper includes a discussion of the implications of the findings for Indonesia, a major emerging market where income inequality is at the center of policy issues.
Unproductive Public Expenditures
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2005-04-04
Unproductive Public Expenditures written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-04-04 with Business & Economics categories.
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.
The Output Effects Of Fiscal Consolidations
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Author : Eduardo A. Cavallo
language : en
Publisher:
Release Date : 2022
The Output Effects Of Fiscal Consolidations written by Eduardo A. Cavallo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
This paper studies whether changes in the composition of public spending affect the macroeconomic consequences of fiscal consolidations. Results based on a sample of advanced and developing countries show that while fiscal consolidations tend to be contractionary on average, the size of the output fall depends on the behavior of public investment vis-á-vis public consumption during the fiscal adjustment. When public investment is penalized relative to public consumption, and thus its share in public expenditures decreases, a 1 percent of GDP consolidation reduces output by 0.7 percent after two years. In contrast, safeguarding public investment from budget cuts can neutralize the contractionary effects of fiscal adjustments and can even spur output growth over time. The component of GDP that explains the heterogeneity between both types of adjustments the most is private investment. The results inform how fiscal adjustments can be designed to protect economic growth.
Evaluating Public Spending
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Author : Sanjay Pradhan
language : en
Publisher: World Bank Publications
Release Date : 1996-01-01
Evaluating Public Spending written by Sanjay Pradhan and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-01-01 with Business & Economics categories.
World Bank Discussion Paper No. 318. Analyzes the condition needed for achieving sustainable private sector growth in the Visegrad countries--the Czech Republic, Hungary, Poland, and the Slovak Republic. The analysis focuses on the legal and regulatory framework and institutional capacity, the privatization of state enterprises, and private sector development.
Managing Government Expenditure
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Author : Salvatore Schiavo-Campo
language : en
Publisher:
Release Date : 1999
Managing Government Expenditure written by Salvatore Schiavo-Campo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Budget categories.
This is a comprehensive manual, based on a sound conceptual foundation but with a deliberate operational thrust, covering the entire public expenditure management cycle--from multiyear expenditure programming and budget formulation through budget execution, audit, and evaluation.
Guidelines For Public Expenditure Management
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Author : Mr.Jack Diamond
language : en
Publisher: International Monetary Fund
Release Date : 1999-07-01
Guidelines For Public Expenditure Management written by Mr.Jack Diamond and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-07-01 with Business & Economics categories.
Traditionally, economics training in public finances has focused more on tax than public expenditure issues, and within expenditure, more on policy considerations than the more mundane matters of public expenditure management. For many years, the IMF's Public Expenditure Management Division has answered specific questions raised by fiscal economists on such missions. Based on this experience, these guidelines arose from the need to provide a general overview of the principles and practices observed in three key aspects of public expenditure management: budget preparation, budget execution, and cash planning. For each aspect of public expenditure management, the guidelines identify separately the differing practices in four groups of countries - the francophone systems, the Commonwealth systems, Latin America, and those in the transition economies. Edited by Barry H. Potter and Jack Diamond, this publication is intended for a general fiscal, or a general budget, advisor interested in the macroeconomic dimension of public expenditure management.
The Effects Of Corruptionon Growth Investment And Government Expenditure
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Author : Mr.Paolo Mauro
language : en
Publisher: International Monetary Fund
Release Date : 1996-09-01
The Effects Of Corruptionon Growth Investment And Government Expenditure written by Mr.Paolo Mauro and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-09-01 with Business & Economics categories.
This paper discusses the possible causes and consequences of corruption. It provides a synthetic review of recent studies that analyze this phenomenon empirically. In addition, it presents further results on the effects of corruption on growth and investment, and new cross-country evidence on the link between corruption and the composition of government expenditure.
The Growth Of Public Expenditure In The United Kingdom
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Author : Alan T. Peacock
language : en
Publisher: Ashgate Publishing
Release Date : 1993-11-01
The Growth Of Public Expenditure In The United Kingdom written by Alan T. Peacock and has been published by Ashgate Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-11-01 with Business & Economics categories.
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.