Public Expenditure And Growth
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Public Expenditure And Growth
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Author : Santiago Herrera
language : en
Publisher: World Bank Publications
Release Date : 2007
Public Expenditure And Growth written by Santiago Herrera 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 2007 with Access to Finance categories.
Abstract: Given that public spending will have a positive impact on GDP if the benefits exceed the marginal cost of public funds, the present paper deals with measuring costs and benefits of public spending. The paper discusses one cost seldom considered in the literature and in policy debates, namely, the volatility derived from additional public spending. The paper identifies a relationship between public spending volatility and consumption volatility, which implies a direct welfare loss to society. This loss is substantial in developing countries, estimated at 8 percent of consumption. If welfare losses due to volatility are this sizeable, then measuring the benefits of public spending is critical. Gauging benefits based on macro aggregate data requires three caveats: a) considering of the impact of the funding (taxation) required for the additional public spending; b) differentiating between investment and capital formation; c) allowing for heterogeneous response of output to different types of capital and differences in network development. It is essential to go beyond country-specificity to project-level evaluation of the benefits and costs of public projects. From the micro viewpoint, the rate of return of a project must exceed the marginal cost of public funds, determined by tax levels and structure. Credible evaluations require microeconomic evidence and careful specification of counterfactuals. On this, the impact evaluation literature and methods play a critical role. From individual project evaluation, the analyst must contemplate the general equilibrium impacts. In general, the paper advocates for project evaluation as a central piece of any development platform. By increasing the efficiency of public spending, the government can permanently increase the rate of productivity growth and, hence, affect the growth rate of GDP.
Government Expenditure And Economic Growth
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1989-05-15
Government Expenditure And Economic Growth 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 1989-05-15 with Business & Economics categories.
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.
The Growth Of Public Expenditure In The United Kingdom
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Author : Alan Peacock
language : en
Publisher: Taylor & Francis
Release Date : 2024-09-02
The Growth Of Public Expenditure In The United Kingdom written by Alan Peacock and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-09-02 with Business & Economics categories.
Originally published in 1961, this book became widely used as a textbook, as an important source of primary data on British government expenditure statistics and as the point of departure for further empirical and analytical studies of the behaviour of governments. The book was recognised as one of the formative influences in the development of a positive theory of government expenditure which sought to explain the size and structure of the system of public finance rather than justify it
The Growth Of Public Expenditure In The United Kingdom
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Author : Alan T. Peacock
language : en
Publisher:
Release Date : 1961
The Growth Of Public Expenditure In The United Kingdom written by Alan T. Peacock and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1961 with Political Science categories.
Fiscal Policy Public Expenditure Composition And Growth
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Author : Willi Semmler
language : en
Publisher: World Bank Publications
Release Date : 2007
Fiscal Policy Public Expenditure Composition And Growth written by Willi Semmler 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 2007 with categories.
The Composition Of Public Expenditure And Growth A Small Scale Intertemporal Model For Low Income Countries
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Author : Emmanuel Pinto Moreira
language : en
Publisher: World Bank Publications
Release Date : 2007
The Composition Of Public Expenditure And Growth A Small Scale Intertemporal Model For Low Income Countries written by Emmanuel Pinto Moreira 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 2007 with Budget Constraint categories.
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.
Public Expenditure Economic Growth And Inflation
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Author : Mukesh Kumar Solanki
language : en
Publisher: Allied Publishers
Release Date : 2015-02-11
Public Expenditure Economic Growth And Inflation written by Mukesh Kumar Solanki and has been published by Allied Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-11 with Economic development categories.
The book “Public Expenditure, Economic Growth and Inflation” addresses the most relevant issue of inflation in Indian economy. It makes an interesting reading as it attempts to establish the relationship among three macro-economic indicators, i.e., public expenditure, economic growth and inflation. The book gives an overview of the increasing public expenditure and its composition throughout the years after independence. Based on the secondary data the study makes a sincere effort to establish the possible relationship between public expenditure, inflation and economic growth. The book finds out that the Wagner law of increasing state activity is applicable in India both in absolute and relative terms. Economic Growth and public expenditure are positively correlated. Economic growth and inflation are inversely related. As public expenditure is motivated by maximization of social welfare, reduction in public expenditure means to sacrifice the social welfare objective.
Public Expenditure And Growth
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Author : Santiago Herrera
language : en
Publisher:
Release Date : 2012
Public Expenditure And Growth written by Santiago Herrera 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.
Given that public spending will have a positive impact on GDP if the benefits exceed the marginal cost of public funds, the present paper deals with measuring costs and benefits of public spending. The paper discusses one cost seldom considered in the literature and in policy debates, namely, the volatility derived from additional public spending. The paper identifies a relationship between public spending volatility and consumption volatility, which implies a direct welfare loss to society. This loss is substantial in developing countries, estimated at 8 percent of consumption. If welfare losses due to volatility are this sizeable, then measuring the benefits of public spending is critical. Gauging benefits based on macro aggregate data requires three caveats: a) considering of the impact of the funding (taxation) required for the additional public spending; b) differentiating between investment and capital formation; c) allowing for heterogeneous response of output to different types of capital and differences in network development. It is essential to go beyond country-specificity to project-level evaluation of the benefits and costs of public projects. From the micro viewpoint, the rate of return of a project must exceed the marginal cost of public funds, determined by tax levels and structure. Credible evaluations require microeconomic evidence and careful specification of counterfactuals. On this, the impact evaluation literature and methods play a critical role. From individual project evaluation, the analyst must contemplate the general equilibrium impacts. In general, the paper advocates for project evaluation as a central piece of any development platform. By increasing the efficiency of public spending, the government can permanently increase the rate of productivity growth and, hence, affect the growth rate of GDP.
Can A Government Enhance Long Run Growth By Changing The Composition Of Public Expenditure
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Author : Mr.Santiago Acosta Ormaechea
language : en
Publisher: International Monetary Fund
Release Date : 2013-07-08
Can A Government Enhance Long Run Growth By Changing The Composition Of Public Expenditure written by Mr.Santiago Acosta Ormaechea 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 2013-07-08 with Business & Economics categories.
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.
The Composition Of Public Expenditure And Growth
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Author : Nihal Bayraktar
language : en
Publisher:
Release Date : 2016
The Composition Of Public Expenditure And Growth written by Nihal Bayraktar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
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.