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Budgetary Spending And Growth In The Eu

Author

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  • ALBU, Lucian – Liviu

    (Institute for Economic Forecasting, Romanian Academy, Bucharest, Romania)

Abstract

In line with studies on the trend of budgetary spending and its correlation with the economic growth, firstly we analysed the convergence process in EU, both in matter of GDP per capita and in mater of few categories of expenditures. Secondly, based on available data we identified a number of correlations among the intensity in GDP of health expenditure, education expenditure, R&D expenditure and GDP per capita level as a measure of economic development. Moreover, by estimating some behavioural regimes characterising dynamics after 2000 in different groups of countries in EU we highlight potential future trends for main budgetary expenditures.

Suggested Citation

  • ALBU, Lucian – Liviu, 2017. "Budgetary Spending And Growth In The Eu," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 4(1), pages 11-17.
    • Handle: RePEc:vls:rojfme:v:4:y:2017:i:1:p:11-17
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    References listed on IDEAS

    as
    1. Carmela Martín & Ismael Sanz, 2003. "Real Convergence and European Integration: The Experience of the Less Developed EU Members," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 30(3), pages 205-236, September.
    2. Vasco M. Carvalho & Andrew C. Harvey, 2005. "Convergence in the trends and cycles of Euro‐zone income," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 20(2), pages 275-289.
    3. Monfort, Mercedes & Cuestas, Juan Carlos & Ordóñez, Javier, 2013. "Real convergence in Europe: A cluster analysis," Economic Modelling, Elsevier, vol. 33(C), pages 689-694.
    4. Răileanu-Szeles, Monica & Albu, Lucian, 2015. "Nonlinearities and divergences in the process of European financial integration," Economic Modelling, Elsevier, vol. 46(C), pages 416-425.
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    More about this item

    Keywords

    budgetary spending European Union; real convergence; GDP; economic growth; behavioural regimes;
    All these keywords.

    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • E7 - Macroeconomics and Monetary Economics - - Macro-Based Behavioral Economics
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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