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La calidad del gasto público y su influencia en el desarrollo económico: una validación empírica para los países de la OCDE 1970-2005

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  • Guillem López Casasnovas

    ()
    (Universidad Pompeu Fabra)

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    Abstract

    The assessment on the relevance of public spending on economic growth has deserved an important attention in the economic literature. However its empirical approach by testing the effects by an aggregate production function may mislead the results since the composition of public expenditure, more than its level, is crucial. In this paper, after surveying of the current state of affairs on the topic, we estimate for the OECD countries, and a period which extends from 1970 to 2005, a panel data regression on the level of growth and its rate, and on some proxy for the income inequality. We take as regressors the detailed composition of public expenditure according to functional categories (health, education, economic services…) and its economic classification (public consumption versus transfers –as a proxy of in-kind versus money transfers–; public production –chapter 1– against purchases and contracting out –chapter 2–, current versus capital expenditure).

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    Bibliographic Info

    Article provided by IEF in its journal Hacienda Pública Española/Revista de Economía Pública.

    Volume (Year): 193 (2010)
    Issue (Month): 2 (June)
    Pages: 9-48

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    Handle: RePEc:hpe:journl:y:2010:v:193:i:2:p:9-48

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    Related research

    Keywords: composition of public expenditure; economic growth; public finances; efficiency; OECD.;

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    1. Barro, R.J., 1989. "Economic Growth In A Cross Section Of Countries," RCER Working Papers 201, University of Rochester - Center for Economic Research (RCER).
    2. Devarajan, Shantayanan & Swaroop, Vinaya & Heng-fu, Zou, 1996. "The composition of public expenditure and economic growth," Journal of Monetary Economics, Elsevier, vol. 37(2-3), pages 313-344, April.
    3. Straub, Roland & Tchakarov, Ivan, 2007. "Assessing the impact of a change in the composition of public spending: a DSGE approach," Working Paper Series 0795, European Central Bank.
    4. De Ávila, Diego Romero & Strauch, Rolf, 2003. "Public finances and long-term growth in Europe - evidence from a panel data analysis," Working Paper Series 0246, European Central Bank.
    5. Easterly, William & Rebelo, Sergio, 1993. "Fiscal policy and economic growth: An empirical investigation," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 417-458, December.
    6. Martin Zagler & Georg Dürnecker, 2003. "Fiscal Policy and Economic Growth," Journal of Economic Surveys, Wiley Blackwell, vol. 17(3), pages 397-418, 07.
    7. Antonio Afonso & Ludger Schuknecht & Vito Tanzi, 2010. "Public sector efficiency: evidence for new EU member states and emerging markets," Applied Economics, Taylor & Francis Journals, vol. 42(17), pages 2147-2164.
    8. Kneller, Richard & Bleaney, Michael F. & Gemmell, Norman, 1999. "Fiscal policy and growth: evidence from OECD countries," Journal of Public Economics, Elsevier, vol. 74(2), pages 171-190, November.
    9. Karl Aiginger & Martin Falk, 2005. "Explaining Differences in Economic Growth among OECD Countries," Empirica, Springer, vol. 32(1), pages 19-43, 03.
    10. Ivan Tchakarov & Roland Straub, 2007. "Assessing the Impact of a Change in the Composition of Public Spending," IMF Working Papers 07/168, International Monetary Fund.
    11. Afonso, António & Ebert, Werner & Schuknecht, Ludger & Thöne, Michael, 2005. "Quality of public finances and growth," Working Paper Series 0438, European Central Bank.
    12. Gupta, Sanjeev & Clements, Benedict & Baldacci, Emanuele & Mulas-Granados, Carlos, 2005. "Fiscal policy, expenditure composition, and growth in low-income countries," Journal of International Money and Finance, Elsevier, vol. 24(3), pages 441-463, April.
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