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The Impact of Government Spending on the Duration and the Intensity of Economic Crises: Latin America 1900-2000

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  • Rodrigo Cerda

    ()
    (Instituto de Economía. Pontificia Universidad Católica de Chile.)

Abstract

We study the role of fiscal expenditure during episodes of economic crises using one century data from 20 Latin American countries. We use output drops as a way of indicating the irruption of economic crises and we are able to document episodes of large output drops and large duration of economic crises, which are the characteristics that vary considerably among countries. We study the duration of crises by means of count data and hazard models while we study the intensity of the crisis by means of growth regressions. Our main finding suggest that fiscal expenditure has low power to shorten economic crises but it might act as an effective instrument to smooth output-drops during crises.

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Bibliographic Info

Paper provided by EH Clio Lab. Instituto de Economía. Pontificia Universidad Católica de Chile in its series Working Papers ClioLab with number 1.

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Date of creation: 2009
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Handle: RePEc:ioe:clabwp:1

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  1. Francisco Gallego & Robert Woodberry, 2009. "Christian Missionaries and Education in Former African Colonies: How Competition Mattered," Working Papers ClioLab 2, EH Clio Lab. Instituto de Economía. Pontificia Universidad Católica de Chile.
  2. Francisco Gallego & Robert Woodberry, 2008. "Christian Missionaries and Education in Former Colonies: How Institutions Mattered," Documentos de Trabajo 339, Instituto de Economia. Pontificia Universidad Católica de Chile..
  3. Miriam Bruhn & Francisco A. Gallego, 2012. "Good, Bad, and Ugly Colonial Activities: Do They Matter for Economic Development?," The Review of Economics and Statistics, MIT Press, vol. 94(2), pages 433-461, May.
  4. Francisco Gallego, 2008. "Historical Origins of Schooling: The Role of Democracy and Political Decentralization," Working Papers ClioLab 7, EH Clio Lab. Instituto de Economía. Pontificia Universidad Católica de Chile.
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