The Impact of Government Spending on the Duration and the Intensity of Economic Crises: Latin America 1900-2000 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 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 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 findings 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 InfoPaper provided by Instituto de Economia. Pontificia Universidad Católica de Chile. in its series Documentos de Trabajo with number 365.
Date of creation: 2009
Date of revision:
Economic Crisis; fiscal expenditure; latin america;
Find related papers by JEL classification:
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
- N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-01-16 (All new papers)
- NEP-FDG-2010-01-16 (Financial Development & Growth)
- NEP-HIS-2010-01-16 (Business, Economic & Financial History)
- NEP-LAM-2010-01-16 (Central & South America)
- NEP-MAC-2010-01-16 (Macroeconomics)
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